Memphis, TN Housing Market

Memphis, TN's median home value is $247K, up 2.5% over the past year. Homes here sell in a median 58 days. Its PropertyIQ Score of 13 sits below the state average of 50, marking a market positioned to lag its state over the next three years.

PropertyIQ tracks the Memphis, TN housing market through two complementary lenses: price momentum from Zillow home-value trends over 3 and 12 months, and demand pressure from how quickly homes sell and how often sellers cut prices, drawn from Realtor.com. The PropertyIQ Score distills these into one number that predicts how this TN market is set to perform against its state benchmark.

Southeastern markets benefit from manufacturing investment, logistics infrastructure, and relative affordability compared to national averages. The region's population growth — driven by both domestic migration and natural increase — supports sustained housing demand across metro and suburban areas. Within the Southeast, Memphis, TN's PropertyIQ Score of 13 runs below the Southeast norm.

Tennessee's no-income-tax status and central location have fueled Nashville's rise as a corporate relocation destination, while Memphis and Knoxville offer more affordable alternatives with their own economic drivers.

For the Memphis, TN market, PropertyIQ calculates a single score each month from four inputs: twelve-month Zillow home-value momentum, three-month Zillow home-value momentum, median days on market from Realtor.com, and the Realtor.com price-reduced share. The score is computed nationally across all metros and calibrated so 50 equals the state average. Across the validation history, metro markets in the top score band have outperformed their state by roughly 1.7 percentage points more per year than bottom-band markets.

View Memphis, TN's complete market profile including historical price trends, score history, and AI-generated analysis. Compare this market against any other US metro to find the best opportunities for your investment strategy.