| Memphis, TN | |
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| State | Tennessee |
| Population | 651,932 |
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Compared to other places in this area, Memphis is a lot less expensive, and it is substantially less expensive compared to the country as a whole.
The median home in Memphis is valued at $101,800. It is roughly $65,650 (39%) lower in comparison to its surrounding areas.In comparison to the United States as a whole it is about $115,700 (53%) lower.
In Memphis the median monthly rent is $901. In comparison to other places in this area it is roughly $173 (16%) lower.In comparison to the US as a whole it is about $161 (15%) lower.
Germantown is Memphis's neighbor to the east. Real estate prices there are a lot more expensive. Germantown's median home cost is $331,700, which is $229,900 (69%) higher than Memphis. The rent there is a lot more expensive. The median rent in Germantown is $1,387 per month, which comes out to $486 (35%) higher than Memphis.
Southaven is Memphis's neighbor to the south. Real estate prices there are significantly more expensive. The value of the median home in Southaven is $153,200, which works out to $51,400 (33%) higher than Memphis. Its rents are a bit more expensive. The median rent in Southaven is $1,056 a month, which comes out to $155 (14%) higher than Memphis.
West Memphis is Memphis's neighbor to the west. Housing prices there are a little less expensive. West Memphis's median home price is $86,800, which works out to $15,000 (17%) lower than Memphis. Rent there is a little less expensive. The median rent in West Memphis is $707 a month, which works out to $194 (27%) lower than Memphis.
Bartlett is Memphis's neighbor to the northeast. Housing prices there are significantly more expensive. The value of the median home in Bartlett is $185,100, which is $83,300 (45%) higher than Memphis. Rent there is significantly more expensive. Bartlett's median rent is $1,383 a month, which works out to $482 (34%) higher than Memphis.
Horn Lake is about 11 miles south of Memphis. Housing prices there are fairly similar. The median home value in Horn Lake is $106,400, which works out to $4,600 (4%) higher than Memphis. The rent there is a bit more expensive. Horn Lake's median monthly rent is $1,033, which comes out to $132 (12%) higher than Memphis.
Lynchburg is approximately 12 miles southwest of Memphis. Real estate prices there are a little more expensive. The price of the median home in Lynchburg is $141,500, which is $39,700 (28%) higher than Memphis. Rent there is pretty similar. Lynchburg's median rent is $876 per month, which works out to $25 (2%) lower than Memphis.