Property Prices in Memphis, TN, United States

Index Info
Price to Income Ratio: 1.43
Mortgage as Percentage of Income: 10.02%
Loan Affordability Index: 9.98
Price to Rent Ratio - City Centre: 5.24
Price to Rent Ratio - Outside of Centre: 2.98
Gross Rental Yield (City Centre): 19.10%
Gross Rental Yield (Outside of Centre): 33.54%
Rent Per Month
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Apartment (1 bedroom) in City Centre 1,044.73 $ 925.00-1,300.00
Apartment (1 bedroom) Outside of Centre 847.80 $ 650.00-1,000.00
Apartment (3 bedrooms) in City Centre 1,526.21 $ 1,200.00-2,200.00
Apartment (3 bedrooms) Outside of Centre 1,107.33 $ 773.33-1,800.00
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) 2,752.95 $
Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate 3.56 3.50-3.75

These data are based on 157 entries in the past 18 months from 34 different contributors.
Last update: January 2021

Sources and References
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