Much like the surrounding areas, it is somewhat less expensive compared to the rest of the nation. However it's substantially less expensive compared to the city of Tampa.
Home prices
The median home in Memphis costs $157,000. In comparison to the surrounding areas this is roughly $3,240 (2%) lower.It is approximately $60,500 (27%) lower in comparison to the country as a whole, and compared to the city of Tampa is about $81,900 (34%) lower.
Rents
The median monthly rent in Memphis is $1,032. Compared to its surrounding areas it is about $51 (4%) lower.It is roughly $30 (2%) lower in comparison to the entire nation, and in comparison to the city of Tampa is roughly $99 (8%) lower.
Nearby places
Palmetto
Palmetto is Memphis's neighbor to the southwest. Real estate prices there are similar. The median home in Palmetto costs $156,700, which is very similar to Memphis. The rent there is a little less expensive. Palmetto's median monthly rent is $938, which works out to $94 (10%) lower than Memphis.
Ellenton
Ellenton is Memphis's neighbor to the southeast. The real estate prices there are a little less expensive. Ellenton's median home price is $121,100, which comes out to $35,900 (29%) lower than Memphis. Rent there is somewhat less expensive. The median rent in Ellenton is $887 per month, which works out to $145 (16%) lower than Memphis.
Bradenton
Bradenton is about 4 miles south from Memphis. The housing prices there are a bit more expensive. The median home in Bradenton is valued at $169,800, which is $12,800 (7%) higher than Memphis. Rents there are a bit more expensive. Bradenton's median rent is $1,117 per month, which works out to $85 (7%) higher than Memphis.
West Bradenton
West Bradenton is about 4 miles southwest of Memphis. Real estate prices there are a lot more expensive. The median home in West Bradenton is valued at $249,900, which comes out to $92,900 (37%) higher than Memphis. Rent there is somewhat more expensive. In West Bradenton the median monthly rent is $1,420, which is $388 (27%) higher than Memphis.
Samoset
Samoset is about 5 miles south from Memphis. Its housing prices are substantially less expensive. Samoset's median home value is $103,700, which works out to $53,300 (51%) lower than Memphis. The rent there is fairly similar. In Samoset the median rent is $1,052 a month, which is $20 (1%) higher than Memphis.
