Market Overview
Home Prices in Millington, TN
The median home value in Millington, TN is $243,451 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 1.9% compared to a year ago and down 0.4% from two years prior.
Compared to the U.S. national median of $410,000, homes in Millington are priced41% below average. Millington is part of the Memphis, TN-MS-AR metro area.
Over the past five years, Millington home values have risen by approximately27.7%, reflecting strong long-term appreciation in this market.
Price History
Millington Home Price Trend
City Comparison
Millington vs. National Median
At $243,451, homes in Millington cost 41% below the national median of $410,000. This makes Millington a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Millington?
20% Down Payment
$48,690
on $243,451
Monthly P&I
$1,270/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,613/mo
incl. taxes & insurance
Income Needed
$64,520
gross annual (30% rule)
10% Down Option
$24,345
+ PMI applies
Loan Amount (20% dn)
$194,761
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 Millington, TN?
The median home value in Millington is $243,451 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 Millington?
Over the past year, home values in Millington have increased by 1.9%. Over five years, prices have risen approximately 27.7%.
How much do I need to earn to buy a home in Millington?
To comfortably afford the median home price of $243,451 with a 20% down payment ($48,690) at today's rates (6.8%), you'd need a gross annual income of approximately $64,520. This assumes keeping total housing costs at or below 30% of gross income.
How does Millington compare to the national average home price?
The national median home value is approximately $410,000. At $243,451, homes in Millington are 41% below the national average.
What metro area is Millington part of?
Millington is part of the Memphis, TN-MS-AR metropolitan area. Home prices and market conditions can vary across the broader metro region.