Property Prices in Memphis, TN, United States

Index Info
Price to Income Ratio: 1.41
Mortgage as Percentage of Income: 10.11%
Loan Affordability Index: 9.89
Price to Rent Ratio - City Centre: 5.18
Price to Rent Ratio - Outside of Centre: 2.81
Gross Rental Yield (City Centre): 19.30%
Gross Rental Yield (Outside of Centre): 35.59%
Rent Per Month
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Apartment (1 bedroom) in City Centre 1,025.58 $ 850.00-1,400.00
Apartment (1 bedroom) Outside of Centre 866.92 $ 700.00-1,200.00
Apartment (3 bedrooms) in City Centre 1,608.07 $ 1,190.17-2,200.00
Apartment (3 bedrooms) Outside of Centre 1,247.50 $ 773.33-2,000.00
Buy Apartment Price
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Price per Square Feet to Buy Apartment in City Centre 101.47 $ 91.67-110.25
Price per Square Feet to Buy Apartment Outside of Centre 44.92 $ 43.67-47.00
Salaries And Financing
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Average Monthly Net Salary (After Tax) 2,784.60 $
Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate 3.80 3.00-4.70

These data are based on 166 entries in the past 18 months from 37 different contributors.
Last update: June 2021

Sources and References
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