2026 Affordability Data
Most Affordable Neighborhoods in Memphis - 2026 Data
The median home value in Memphis is $135,000, 52% below nat'l avg. Median rent is $1,416/month. With an affordability index of 148, Memphis is more affordable than the national baseline of 100. We ranked 15 neighborhoods by affordability to help you find the best value in the Memphis, TN area.
Key Takeaways: Affordability in Memphis
- 1The most affordable neighborhood in Memphis is Nashville, with a median home value of $365,000.
- 2Memphis's median home value is $135,000, 52% below nat'l avg (national: $281,900).
- 3Memphis's affordability index is 148 (baseline 100), making it more affordable than the national average.
- 4Median rent in Memphis is $1,416/month, 22% above nat'l avg (national: $1,163/month).
- 5We analyzed 15 neighborhoods in Memphis to find the most affordable areas based on home values, rent, and affordability index.
Memphis Affordability Overview
Median Home Value
$135,000
52% below nat'l avg
Median Rent
$1,416/mo
22% above nat'l avg
Median Income
$41,228
45% below nat'l avg
Affordability Index
148
48% above nat'l avg
Most Affordable Neighborhoods in Memphis (Ranked)
| Rank | Neighborhood | Median Home Value |
|---|---|---|
| 1 | NashvilleTN | $365,000 |
| 2 | ColliervilleTN | $409,000 |
| 3 | BrownsvilleTN | $108,300 |
| 4 | JacksonTN | $169,300 |
| 5 | KingsportTN | $181,600 |
| 6 | Spring HillTN | $389,800 |
| 7 | FranklinTN | $574,000 |
| 8 | NolensvilleTN | $601,900 |
| 9 | AlcoaTN | $216,100 |
| 10 | ArlingtonTN | $338,900 |
| 11 | ManchesterTN | $202,200 |
| 12 | HendersonvilleTN | $364,700 |
| 13 | SmyrnaTN | $285,200 |
| 14 | AthensTN | $182,100 |
| 15 | LewisburgTN | $161,700 |
Detailed Neighborhood Profiles
Home Value: $365,000
Rent: $2,078/mo
Affordability: 125
Population: 689,447
Walk Score: 98/100
Home Value: $409,000
Rent: $1,363/mo
Affordability: 102
Population: 51,170
Walk Score: 0/100
Home Value: $108,300
Rent: $1,363/mo
Affordability: 102
Population: 9,739
Walk Score: 0/100
4
Home Value: $169,300
Rent: $1,363/mo
Affordability: 102
Population: 67,993
Walk Score: 0/100
5
Home Value: $181,600
Rent: $1,363/mo
Affordability: 102
Population: 55,415
Walk Score: 0/100
6
Home Value: $389,800
Rent: $1,363/mo
Affordability: 102
Population: 51,319
Walk Score: 0/100
7
Home Value: $574,000
Rent: $1,363/mo
Affordability: 102
Population: 83,630
Walk Score: 0/100
8
Home Value: $601,900
Rent: $1,363/mo
Affordability: 102
Population: 14,444
Walk Score: 0/100
9
Home Value: $216,100
Rent: $1,363/mo
Affordability: 102
Population: 11,095
Walk Score: 0/100
10
Home Value: $338,900
Rent: $1,363/mo
Affordability: 102
Population: 14,342
Walk Score: 0/100
11
Home Value: $202,200
Rent: $1,363/mo
Affordability: 102
Population: 12,325
Walk Score: 0/100
12
Home Value: $364,700
Rent: $1,363/mo
Affordability: 102
Population: 61,589
Walk Score: 0/100
13
Home Value: $285,200
Rent: $1,363/mo
Affordability: 102
Population: 53,760
Walk Score: 0/100
14
Home Value: $182,100
Rent: $1,363/mo
Affordability: 102
Population: 14,091
Walk Score: 0/100
15
Home Value: $161,700
Rent: $1,363/mo
Affordability: 102
Population: 12,376
Walk Score: 0/100
Frequently Asked Questions About Affordability in Memphis
What is the most affordable neighborhood in Memphis, TN?▾
Based on 2026 data, Nashville is the most affordable neighborhood in Memphis with a median home value of $365,000. Kurby analyzed 15 neighborhoods in the Memphis area to compile these rankings.
What is the median home price in Memphis, TN?▾
The median home price in Memphis is $135,000, which is 52% below nat'l avg. The national median home value is $281,900 (Source: Kurby, 2026).
Is Memphis affordable compared to the national average?▾
Memphis has an affordability index of 148, which means housing is more affordable than the national baseline of 100. An index above 100 indicates that a median-income household can afford a median-priced home in the area.
What is the average rent in Memphis, TN?▾
The median monthly rent in Memphis is $1,416. This is 22% above nat'l avg. The national median rent is $1,163/month (Source: Kurby, 2026).
What is the median household income in Memphis?▾
The median household income in Memphis is $41,228 compared to the national median of $74,580. This metric is important for understanding housing affordability in relation to local earning power (Source: Kurby, 2026).
How many neighborhoods in Memphis are below the national average home price?▾
7 out of 15 ranked neighborhoods in Memphis have a median home value below the national average of $281,900. The most affordable is Brownsville at $108,300 (Source: Kurby, 2026).