Similar to nearby areas, it is substantially less expensive compared to the country as a whole. Compared to the city of Amarillo, it's substantially less expensive.
Home prices
Memphis's median home value is $51,700. In comparison to its surrounding areas this is approximately $780 (1%) lower.It is about $165,800 (76%) lower compared to the entire nation, and in comparison to the city of Amarillo it is about $80,800 (60%) lower.
Rents
The median monthly rent in Memphis is $517. This is roughly $102 (16%) lower in comparison to its nearby areas.In comparison to the country as a whole it is roughly $545 (51%) lower, and in comparison to the city of Amarillo it is roughly $333 (39%) lower.
Nearby places
Hedley
Hedley is roughly 11 miles northwest from Memphis. The housing prices there are significantly less expensive. Hedley's median home price is $24,500, which is $27,200 (111%) lower than Memphis. Rent there is a bit more expensive. The median rent in Hedley is $608 a month, which works out to $91 (14%) higher than Memphis.
Wellington
Wellington is approximately 18 miles northeast of Memphis. The housing prices there are somewhat less expensive. The median home in Wellington costs $44,200, which is $7,500 (16%) lower than Memphis. Rent there is somewhat more expensive. The median rent in Wellington is $608 a month, which works out to $91 (14%) higher than Memphis.
Clarendon
Clarendon is roughly 23 miles northwest from Memphis. The real estate prices there are somewhat more expensive. The median home in Clarendon is valued at $65,200, which is $13,500 (20%) higher than Memphis. Rent there is a bit more expensive. The median rent in Clarendon is $600 a month, which comes out to $83 (13%) higher than Memphis.
Childress
Childress is roughly 26 miles southeast of Memphis. The real estate prices there are significantly more expensive. The value of the median home in Childress is $78,200, which is $26,500 (33%) higher than Memphis. Its rents are somewhat more expensive. In Childress the median rent is $740 per month, which comes out to $223 (30%) higher than Memphis.
Turkey
Turkey is approximately 30 miles southwest of Memphis. The housing prices there are fairly similar. The price of the median home in Turkey is $50,300, which comes out to $1,400 (2%) lower than Memphis. Its rents are pretty similar. In Turkey the median monthly rent is $538, which is $21 (3%) higher than Memphis.
