Memphis, TN

Population: 653,450
Average annual home appreciation rate: 5.88%
Total of homes for sale in this market: 2,249
Median home price: $93,143
Median Rent: $638 per room
Home price range: 38.48% of homes are between $47,001 – $95,000
Median sales price: $85,900
Number of homes: 1,188
Median foreclosure sales price: $36,661
Foreclosure discount: 57%
Most common home type: 60.66% of homes are SINGLE FAMILY DETACHED
Number of vacant homes: 17.04%
Number of renters: 46.27%
Number of owner occupied: 53.73%
Number people living below poverty level: 26.21%
Unemployment rate: 9.00%
Is this area perfect for real estate deals going on right now? Relative to Tennessee, our data show that Memphis’s latest annual appreciation rate is higher than 50% of the other cities and towns in Tennessee. With the history of positive appreciation in the Memphis area, prices of homes, and rental rates, this could be a profitable investment for the savvy buy and hold investor.

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