Home Value in Memphis: Median $175,000 (2026)
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What’s your Memphis, TN home worth in 2026? With a median home value of $175,000, Memphis remains one of the more affordable housing markets, offering strong potential for first-time buyers and investors. Home values have moved up 4.3% year-over-year, reflecting moderate growth in the Memphis market. The average home spans 2,175 square feet with 3.1 bedrooms, at $80/square foot. Understanding your home’s value — and which improvements boost it most — can help you make smarter renovation decisions.
TL;DR — Home Values in Memphis
The median home value in Memphis, TN is $175,000, up 4.3% year-over-year. Average price per square foot is $80. Home improvements can significantly boost your value — get your free report to see which upgrades offer the best ROI in Memphis.
Home Values in Memphis, TN (2026)
The Memphis real estate market shows moderate growth conditions in 2026. Here’s a snapshot of current property values and characteristics based on Shelby County assessment data and recent sales.
| Metric | Memphis Average | State Average |
|---|---|---|
| Median Home Value | $175,000 | $285,000 |
| Price Per Square Foot | $80 | $150 |
| Average Living Area | 2,175 sq ft | 2,047 sq ft |
| Average Lot Size | 10,424 sq ft | 10,996 sq ft |
| Average Bedrooms | 3.1 | 2.9 |
| Year-over-Year Change | up4.3% | up3.9% |
Home Improvement ROI in Memphis
Not all home improvements add equal value. Based on Memphis market data and national cost-vs-value studies, here’s how much value each improvement typically adds to a Memphis home.
| Improvement | Average Cost | Value Added | ROI |
|---|---|---|---|
| Roof Replacement | Get Free Report | Get Free Report | 56% |
| Solar Panel Installation | Get Free Report | Get Free Report | 64% |
| Interior/Exterior Paint | Get Free Report | Get Free Report | 116% |
| New Fence | Get Free Report | Get Free Report | 54% |
| Gutter Replacement | Get Free Report | Get Free Report | 72% |
Maximize Your Home Value
In Memphis, the highest-ROI improvements are exterior upgrades that boost curb appeal. Get your free home value report to see exactly how much each improvement adds to your Memphis home value.
Memphis Real Estate Market Factors
Location and Market Drivers
Several factors drive Memphis home values: local job growth, school quality, proximity to amenities, and neighborhood demand. Memphis’s housing stock has a median build year of 2001, meaning many homes benefit from strategic updates. The market is currently a buyer-friendly market with homes averaging 44 days on the market. Properties in Shelby County are assessed every few years at a 0.63% tax rate, resulting in approximately $3,548 per year in property taxes for the median-priced home.
Memphis Housing Market Insights
What’s Driving Memphis Home Values
The Memphis real estate market shows moderate growth conditions with a 4.3% year-over-year increase in home values. Homes sell in an average of 44 days. For homeowners planning improvements, the data is clear: curb appeal matters most. A new roof delivers 56% ROI, fresh paint returns 116% of its cost, and solar panels add 64% of their cost to home value. Focus on visible, exterior improvements for the best return.
| Median Days on Market | 44 days in Memphis |
| Homes Sold Last Year | 2,388 in Shelby County |
| Median Year Built | 2001 for Memphis homes |
| Property Tax Rate | 0.63% in Shelby County |
Memphis Home Value Pro Tip
Before listing your Memphis home or planning major improvements, get a comparative market analysis (CMA) from a local real estate agent — it’s usually free and more accurate than any online estimate. For the best ROI on improvements, focus on what buyers see first: roof, paint, landscaping, and the front door. In Memphis’s current market (44-day average sale time), move-in ready homes command a premium over homes needing visible repairs.
Memphis Property Assessments & Taxes
Understanding your property assessment can help you challenge overvaluations and reduce your tax burden. Here’s how assessments work in Shelby County.
| Assessment Authority | Shelby County Assessor’s Office |
| Property Tax Rate | 0.63% of assessed value |
| Annual Tax on Median Home | $3,548 (approximate) |
| Assessment Cycle | Every 2-4 years |
Can improvements raise your taxes? Major improvements like additions can trigger reassessment. However, maintenance and repairs (roof replacement, painting, gutter work) typically do not increase your assessed value in Tennessee.
Best Time to Buy or Sell in Memphis
In Memphis, the best time to sell is typically spring (March-May) when buyer activity peaks and homes show best with natural light and greenery. However, Memphis’s market has seasonal patterns — spring and fall tend to see the most activity, while winter can be slower. If you’re planning improvements before selling, start 3-6 months out to complete work and let paint/landscaping settle before listing.
How We Estimate Home Values
Our Memphis home value estimates are based on multiple data sources, updated quarterly:
- Property records: ATTOM property data including living area, lot size, bedrooms, year built, and sales history
- Market data: Recent comparable sales and listing prices in the Memphis metro area
- Satellite measurements: Google Earth and proprietary AI models for roof area and exterior measurements
- Cost-vs-value data: National Association of Realtors and Remodeling Magazine cost-vs-value reports, adjusted for Tennessee pricing
- Tax records: Shelby County Assessor’s Office property assessment data
Estimates are for informational purposes only and should not be used as a substitute for a professional appraisal. Actual home values depend on condition, features, and current market conditions.
Frequently Asked Questions — Memphis Home Values
What is the median home value in Memphis, TN?
The median home value in Memphis, TN is $175,000 as of 2026, up 4.3% from the previous year. The average home has 2,175 square feet of living space, 3.1 bedrooms, and sits on a 10,424 square foot lot. Price per square foot averages $80, compared to the TN state average of $150.
How much are property taxes in Memphis?
Property taxes in Memphis (Shelby County) are approximately 0.63% of assessed value. For the median home ($175,000), that comes to approximately $3,548 per year. Shelby County assessments occur every 2-4 years. Note that routine maintenance (painting, roof replacement, gutter work) typically does not trigger a reassessment, while additions and major renovations may.
Is Memphis a good place to buy a house in 2026?
Memphis offers strong affordability with a median value of $175,000 — well below the national average. With moderate growth conditions and 4.3% appreciation, it’s an attractive market for first-time buyers and investors looking for value.
What home improvements add the most value in Memphis?
In Memphis, roof replacement offers the best ROI at 56%, followed by interior/exterior painting at 116%. Solar panels can add 64% of their cost to your home value while also reducing energy bills. Curb appeal improvements consistently deliver the best returns in the Memphis market.
How accurate are online home value estimates for Memphis?
Online home value estimates for Memphis typically fall within 5-10% of actual sale prices for standard properties. Our estimates use ATTOM property records, satellite measurements, and Shelby County assessment data. For the most accurate valuation, combine our estimate with a comparative market analysis from a local Memphis real estate agent.
Memphis Home Improvement Cost Calculators
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