The typical Memphis home was worth $151,794 in September 2026 on Zillow's index, down 2.8% in a year and 9.4% below the 2022 peak. Neighbors and the trend.
Last checked Oct. 17, 2026. Figures come from the Zillow Home Value Index and Zillow’s city days to pending file, both through September 2026; the FHFA House Price Index through the second quarter of 2026; and the Census Bureau’s 2019-2023 American Community Survey. Updated monthly when Zillow publishes new figures.
The typical home in Memphis was worth $151,794 in September 2026, according to the Zillow Home Value Index. That is down 2.8% from $156,121 a year earlier and about 9.4% below the peak of $167,584 in October 2022, but still 93% higher than in September 2016, when the figure was $78,497. Memphis values have now slipped for four straight years while most of the suburbs around it held steady. For sale records, see our weekly real estate transfers.
Who to call
- Shelby County Assessor of Property (your appraised value): 901-222-7001
- Shelby County Register of Deeds (recorded sales and deeds): register.shelby.tn.us
- Zoning and new development: Memphis and Shelby County Division of Planning and Development, 901-636-7384
The numbers
| Measure | September 2026 | A year earlier | Change |
|---|---|---|---|
| Typical home value, Memphis (Zillow) | $151,794 | $156,121 | -2.8% |
| Typical home value, Shelby County (Zillow, August) | $219,232 | $222,038 | -1.3% |
| Median days to pending, Memphis (Zillow) | 43 days | 33 days | +10 days |
| FHFA price index, Memphis metro (2nd quarter) | 283.35 | 278.38 | +1.8% |
Zillow’s index is the value of a typical, mid-priced home, not a sale price. The Federal Housing Finance Agency’s index, built from repeat sales across the whole metro area, still showed prices rising 1.8% in the year to the second quarter of 2026, a sign the city’s decline is not shared by the wider region.
Ten years of Memphis values
Values climbed fastest in the two years after 2020: up 21.5% in the year to September 2021 and 17.6% the next year. They then fell 4.1% in the year to September 2023, 1.4% in each of the next two years and 2.8% in the year to September 2026. Zillow’s monthly figures have dropped every month since February 2026.
Memphis and its neighbors
| City | September 2026 | Change in a year |
|---|---|---|
| Germantown | $480,889 | -1.1% |
| Olive Branch, Miss. | $333,616 | +1.0% |
| Bartlett | $318,202 | -1.0% |
| Southaven, Miss. | $273,449 | +1.3% |
| Horn Lake, Miss. | $201,880 | +0.6% |
| Memphis | $151,794 | -2.8% |
| West Memphis, Ark. | $131,298 | +5.3% |
Germantown is left off the bar chart only so the other bars stay readable. The DeSoto County, Mississippi, suburbs and West Memphis gained value over the year; Memphis fell the most of any city in the table.
What the census says
The Census Bureau’s 2019-2023 American Community Survey puts the median value of an owner-occupied Memphis home at $157,100, as estimated by owners, and the median household income at $51,211. Our population guide has more from the same survey.
What this means for you
- Buyers: Memphis is the least expensive city in the area except West Memphis, and homes are taking longer to go under contract than a year ago.
- Owners: a falling index does not lower your tax bill until the next reappraisal; ask the Assessor (901-222-7001) if your appraisal looks wrong.
- Check our property tax guide for what a home at these values pays.
More guides: moving to Memphis and schools.
Area by area, with ZIP code values and zoned high schools: our Memphis neighborhoods guide.
Frequently asked questions
What is the average home price in Memphis, Tennessee?
The typical Memphis home was worth $151,794 in September 2026, according to the Zillow Home Value Index, down 2.8% from $156,121 a year earlier.
Are home prices falling in Memphis?
Yes, slowly. Zillow’s index peaked at $167,584 in October 2022 and has eased since, to $151,794 in September 2026, about 9.4% below the peak. It is still 93% above September 2016.
How long do Memphis homes take to sell?
Zillow’s median days to pending for Memphis was 43 days in September 2026, up from 33 days a year earlier.
Is Memphis cheaper than its suburbs?
Yes. On Zillow’s September 2026 index the typical Memphis home was $151,794, against $318,202 in Bartlett, $273,449 in Southaven, Mississippi, and $480,889 in Germantown.
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