Market Overview
Home Prices in Memphis, MO
The median home value in Memphis, MO is $123,535 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 1.9% compared to a year ago and down 10.6% from two years prior.
Compared to the U.S. national median of $410,000, homes in Memphis are priced70% below average.
Over the past five years, Memphis home values have risen by approximately6.4%, reflecting steady appreciation in this market.
Price History
Memphis Home Price Trend
2020
$88,691
$89K
—
2021
$116,052
$116K
+30.8%
2022
$131,574
$132K
+13.4%
2023
$131,244
$131K
-0.3%
2024
$135,623
$136K
+3.3%
2025
$121,262
$121K
-10.6%
2026
$123,535
$124K
+1.9%
City Comparison
Memphis vs. National Median
🏠 Memphis
$123,535
National Median
$410,000
At $123,535, homes in Memphis cost 70% below the national median of $410,000. This makes Memphis a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Memphis?
20% Down Payment
$24,707
on $123,535
Monthly P&I
$644/mo
30-yr @ 6.8%
Total Monthly Est.
~$818/mo
incl. taxes & insurance
Income Needed
$32,720
gross annual (30% rule)
10% Down Option
$12,354
+ PMI applies
Loan Amount (20% dn)
$98,828
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Memphis, MO?
The median home value in Memphis is $123,535 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 1.9% year-over-year.
How much have home prices changed in Memphis?
Over the past year, home values in Memphis have increased by 1.9%. Over five years, prices have risen approximately 6.4%.
How much do I need to earn to buy a home in Memphis?
To comfortably afford the median home price of $123,535 with a 20% down payment ($24,707) at today's rates (6.8%), you'd need a gross annual income of approximately $32,720. This assumes keeping total housing costs at or below 30% of gross income.
How does Memphis compare to the national average home price?
The national median home value is approximately $410,000. At $123,535, homes in Memphis are 70% below the national average.