Introduction
Thinking about moving to Memphis? You’re not alone—plenty of people are making the jump. Some are coming here for jobs at FedEx or St. Jude, others want more space for their money, and a few want to be closer to Beale Street and the BBQ scene.
The good news is that the Memphis real estate market is still one of the most affordable among major U.S. cities. Whether you’re buying, investing, or selling a house in Memphis, knowing today’s prices helps you make smart decisions.
The first question I usually get is simple: “What do homes actually cost right now?”
The short answer: Memphis is still one of the most affordable big cities in the U.S. Whether you’re buying, investing, or selling a house in Memphis, understanding the market is the first step.
Memphis Home Prices in 2025
As of this summer, the median home price is around $192,500.
Here’s what that looks like in real life:
- Starter homes in Raleigh or Frayser are still under $200k.
- Bartlett and Germantown family homes are usually in the $250k–$350k range.
- Higher-end spots in Collierville or East Memphis can cost over $ 500,000.
One of my recent clients snagged a three-bedroom in Bartlett for under $270k—something that would cost double in a city like Denver. That’s why folks relocating here often feel like they hit the jackpot.
Why Memphis Still Feels Affordable
Memphis hasn’t had the wild price spikes of Nashville or Austin, which keeps things steady.
Who benefits?
- First-time buyers are finally able to stop renting.
- Investors are buying near the University of Memphis or close to FedEx logistics hubs.
- Relocating families—like a couple I worked with from Chicago—who sold a tiny condo there and moved into a four-bedroom with a backyard in Cordova.
You really do get more house for less here.
Rent vs. Buy in Memphis
A question I hear often: “Should I rent first, or go ahead and buy?”
Truth is, in Memphis, a mortgage payment can be the same—or less—than rent.
- Renting works if you’re just testing the waters or here short-term.
- Buying makes sense if you’re sticking around longer than a year or two.
One couple I helped moved from Dallas, rented a downtown loft for six months, then realized they could own in Midtown for basically the same monthly cost. They’ve never looked back.
Neighborhood Price Ranges
Each part of Memphis has its own feel:
- Midtown: Historic homes, artsy vibe, walkable coffee shops.
- East Memphis: Classic suburban neighborhoods, near good schools.
- Downtown & South Main: Lofts, river views, higher price per square foot.
- Germantown & Collierville: Top schools, bigger homes, strong resale value.
- Whitehaven & Raleigh: Affordable entry points, popular for first-time buyers.
Drive through a few of these on a Saturday—you’ll notice the difference right away.
Tips for Sellers in 2025
Sellers often ask me if it’s a good time to list. The answer? Yes—but be smart about it.
- Homes are still selling about 16% above long-term averages.
- Overpricing will hurt you—buyers are cautious right now.
- Small updates (paint, curb appeal, decluttering) go a long way.
- If you’d rather sell quickly, Spencer Buys Houses offers fast cash sales with no repairs needed.
I had a seller in Whitehaven who thought they needed a full kitchen remodel before listing. Instead, we did a deep clean, fresh paint, and priced it right—it sold in 12 days.
Final Thoughts
The Memphis real estate market in 2025 still gives buyers affordability, sellers good returns, and investors steady rental demand.
If you’re relocating, buying, or thinking about selling, now’s a smart time to weigh your options.
Want the full relocation and pricing guide? DM me or click the link in bio to get started.
Resources
- University of Mississippi – Memphis Housing Market Analysis (2025)
- Realtor.com – Memphis Market Trends
- Spencer Buys Houses – We Buy Houses in Memphis
Frequently Asked Questions (FAQ)
1. What is the average home price in Memphis in 2025?
The average Memphis home price in 2025 is around $192,500. Entry-level homes in Raleigh and Frayser are under $200k, while family houses in Germantown and Bartlett range between $250k–$350k. Higher-end properties in East Memphis and Collierville often exceed $500k.
2. Is Memphis a good place to buy a home in 2025?
Yes, Memphis is still one of the most affordable U.S. cities to buy a home. Unlike Nashville or Austin, the Memphis real estate market hasn’t seen extreme spikes, making it attractive to first-time buyers, investors, and families relocating for more space at lower costs.
3. Is it cheaper to rent or buy a house in Memphis?
In many Memphis neighborhoods, mortgage payments are equal to or less than monthly rent. Renting works for short-term stays, but buying is often the smarter long-term choice since it builds equity and takes advantage of affordable home prices in the Memphis real estate market.
4. What are the best neighborhoods in Memphis for buyers?
Top neighborhoods include Midtown (historic, affordable homes), East Memphis (family-friendly suburbs), Downtown & South Main (lofts and condos), and Germantown & Collierville (top schools, higher-end homes). Raleigh and Whitehaven remain popular entry points for first-time home buyers in Memphis.
5. Is now a good time to sell a house in Memphis?
Yes. Homes in Memphis are selling about 16% above long-term averages in 2025. Sellers who price competitively and make small updates—like painting or landscaping—see faster results. For quick closings without repairs, Spencer Buys Houses offers as-is cash purchases.
6. Can I sell my Memphis home without repairs?
Yes. Many homeowners choose to work with local cash buyers like Spencer Buys Houses who purchase homes as-is. This allows sellers to avoid costly renovations and close in as little as 7–14 days, compared to the 30–45 days of traditional sales.
7. How long does it take to sell a house in Memphis?
Traditional home sales in Memphis take about 30–45 days to close, depending on inspections and financing. If you sell to a cash home buyer, the process is much faster—often closing within two weeks with no repairs, staging, or agent commissions required.
Spencer Shadrach is the founder of Spencer Buys Houses, a trusted home-buying company based in Memphis, TN. With over a decade of experience in real estate, Spencer is passionate about helping local homeowners sell their properties quickly and stress-free—no agents, no fees, and no repairs needed. Known for his honest approach and fair cash offers, Spencer has earned a reputation as one of the most reliable house buyers in Memphis. When he’s not guiding sellers through smooth closings, you’ll find him giving back to the Memphis community or spending time with his family.