Market Overview
Home Prices in Memphis, TX
The median home value in Memphis, TX is $76,927 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 13.7% compared to a year ago and down 5.5% from two years prior.
Compared to the U.S. national median of $410,000, homes in Memphis are priced81% below average.
Price History
Memphis Home Price Trend
2022
$89,630
$90K
—
2023
$85,582
$86K
-4.5%
2024
$71,640
$72K
-16.3%
2025
$67,674
$68K
-5.5%
2026
$76,927
$77K
+13.7%
City Comparison
Memphis vs. National Median
🏠 Memphis
$76,927
National Median
$410,000
At $76,927, homes in Memphis cost 81% 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
$15,385
on $76,927
Monthly P&I
$401/mo
30-yr @ 6.8%
Total Monthly Est.
~$509/mo
incl. taxes & insurance
Income Needed
$20,360
gross annual (30% rule)
10% Down Option
$7,693
+ PMI applies
Loan Amount (20% dn)
$61,542
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, TX?
The median home value in Memphis is $76,927 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 13.7% year-over-year.
How much have home prices changed in Memphis?
Over the past year, home values in Memphis have increased by 13.7%.
How much do I need to earn to buy a home in Memphis?
To comfortably afford the median home price of $76,927 with a 20% down payment ($15,385) at today's rates (6.8%), you'd need a gross annual income of approximately $20,360. 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 $76,927, homes in Memphis are 81% below the national average.