Housing data for Memphis, TN
Memphis, TN has an estimated 618,980 residents and 289,887 homes (US Census Bureau, 2020–2024 American Community Survey).
It is a city in Shelby County.
55.1% of households rent.
The median gross rent is $1,181 a month.
Its population shrank measurably since 2015–2019 (−5.1%).
Figures last updated on .
- Residents
- 618,980 (±62)
- Housing units
- 289,887 (±1,402)
- Households that rent
- 55.1%
- Median gross rent
- $1,181
- Residents since 2015–2019
- −5.1%
What stands out in Memphis
Median home value: $169,000 (±$3,795) in Memphis, lower than in Shelby County ($249,100).
Median real estate taxes: $1,845 (±$49) in Memphis, lower than in Shelby County ($2,429).
Median household income: $51,736 (±$1,072) in Memphis, lower than in Shelby County ($63,767).
Households that rent: 55.1% (±0.8 points) in Memphis, higher than in Shelby County (45.9%).
- Home values in Memphis
- Property taxes in Memphis
- Income and affordability in Memphis
- Renters and owners in Memphis
Housing in Memphis at a glance
- Median rent: $1,181 median gross rent a month
- Rent by bedrooms: $1,135 median gross rent, 2 bedrooms
- Rent burden: 55.7% of renters pay 30% or more of income
- Renters and owners: 55.1% of households rent
- Income and affordability: $51,736 median household income
- Home values: $169,000 median home value
- Homeowner costs: $1,420 median monthly cost with a mortgage
- Property taxes: $1,845 median real estate taxes a year
- Types of homes: 25.5% of homes are in buildings of 5 or more units
- Bedrooms: 54.8% of homes have 3 or more bedrooms
- Age of homes: 67.0% of homes were built before 1980
- Vacancy rate: 8.1% rental vacancy rate
- Heating fuel: 56.3% heat with electricity
- Commute and cars: 21.1 minutes average trip to work
- Crime reported to police: 1,853 violent crimes per 100,000 residents
- Growth: −5.1% residents since 2015–2019
- How long people stay: 29.0% moved in since 2020
- Crowding and facilities: 2.9% of homes have more than 1 person per room
- Fair Market Rent: $1,750 Small Area FMR, 2 bedrooms (ZIP 38103)
Memphis against Shelby County, its state and the nation
| Memphis | Shelby County | Tennessee | United States | |
|---|---|---|---|---|
| Residents | 618,980 (±62) | 919,173 (exact) | 7,066,383 (exact) | 334,922,499 |
| Housing units | 289,887 (±1,402) | 404,333 (±259) | 3,143,670 (±903) | 143,775,355 |
| Households that rent | 55.1% (±0.8 points) | 45.9% (±0.7 points) | 33.1% (±0.3 points) | 34.8% |
| Median gross rent | $1,181 (±$12) | $1,232 (±$12) | $1,189 (±$7) | $1,413 |
| Median household income | $51,736 (±$1,072) | $63,767 (±$1,251) | $69,595 (±$429) | $80,734 |
| Median home value | $169,000 (±$3,795) | $249,100 (±$4,330) | $286,700 (±$1,492) | $332,700 |
| Median real estate taxes (a year) | $1,845 (±$49) | $2,429 (±$40) | $1,442 (±$8) | $3,119 |
| Built before 1980 | 67.0% (±1.2 points) | 54.5% (±0.9 points) | 40.7% (±0.3 points) | 49.7% |
| Average commute | 21.1 minutes (±0.4) | 22.3 minutes (±0.3) | 25.7 minutes (±0.1) | 26.4 minutes |
| Households with broadband | 87.5% (±0.7 points) | 89.6% (±0.5 points) | 89.2% (±0.2 points) | 91.0% |
| Median age of residents | 34.2 years (±0.3) | 35.9 years (±0.1) | 38.9 years (±0.1) | 38.9 years |
Memphis covers 289.8 square miles of land, about 2,136 residents per square mile (Census Bureau Gazetteer).
How Memphis has changed since 2015–2019
| 2015–2019 | 2020–2024 | Amount of change | Verdict | |
|---|---|---|---|---|
| Residents | 651,932 (±86) | 618,980 (±62) | −5.1% | Measurable decrease |
| Housing units | 299,913 (±1,438) | 289,887 (±1,402) | −3.3% | Measurable decrease |
| Median gross rent | $901 (±$7) | $1,181 (±$12) | +31.1% | Up after inflation |
| Median home value | $101,800 (±$2,411) | $169,000 (±$3,795) | +66.0% | Up after inflation |
| Median household income | $41,228 (±$652) | $51,736 (±$1,072) | +25.5% | No measurable change after inflation |
| Median owner cost with a mortgage | $1,191 (±$14) | $1,420 (±$27) | +19.2% | Down after inflation |
| Median real estate taxes | $1,688 (±$30) | $1,845 (±$49) | +9.3% | Down after inflation |
| Households that rent | 53.4% (±0.7 points) | 55.1% (±0.8 points) | +1.7 percentage points | Measurable increase |
| Rental vacancy rate | 9.4% (±0.7 points) | 8.1% (±0.6 points) | −1.3 percentage points | Measurable decrease |
The Census Bureau publishes 2015–2019 dollars in 2019 dollars and 2020–2024 dollars in 2024 dollars.
Prices (the CPI-U, US Bureau of Labor Statistics) rose 22.7% between 2019 and 2024, so a dollar figure’s verdict compares the two after raising the earlier one by that much, using the Census Bureau’s test for a difference.
The two periods do not overlap, as the Census Bureau recommends for 5-year estimates.
Crime reported to police in Memphis
In 2025, the Memphis Police Department reported 1,853 violent and 5,029 property crimes per 100,000 residents to the FBI.
Across Shelby County, the departments that report recorded 1,328 violent and 3,797 property crimes per 100,000 residents that year.
ZIP codes in Memphis
| ZIP code | Share of the ZIP’s land in this place | Residents | Median gross rent | Median home value | Median household income |
|---|---|---|---|---|---|
| 38103 | 100% | 14,534 | $1,661 | $397,300 | $76,278 |
| 38104 | 100% | 22,634 | $1,112 | $317,200 | $58,117 |
| 38105 | 100% | 5,534 | $997 | $90,200 | $34,015 |
| 38106 | 100% | 20,962 | $952 | $71,800 | $30,232 |
| 38107 | 100% | 13,912 | $1,073 | $152,000 | $35,265 |
| 38108 | 100% | 17,562 | $902 | $71,200 | $36,257 |
| 38111 | 100% | 41,934 | $1,155 | $190,100 | $52,589 |
| 38112 | 100% | 16,809 | $985 | $252,100 | $55,207 |
| 38113 | 100% | 0 | — | — | — |
| 38114 | 100% | 20,298 | $905 | $82,000 | $34,206 |
A ZIP code is a mail route rather than a boundary, so the Census Bureau publishes figures for ZIP Code Tabulation Areas built from census blocks; the share column says how much of each one’s land lies in this place.
Places near Memphis
| Place | Distance | Median gross rent | Median home value | Households that rent |
|---|---|---|---|---|
| Germantown | 11 mi | $1,816 | $470,800 | 13.3% |
| Southaven | 11 mi | $1,445 | $236,300 | 27.5% |
| Horn Lake | 12 mi | $1,435 | $171,400 | 41.9% |
| Bartlett | 12 mi | $1,638 | $310,400 | 14.4% |
| Olive Branch | 13 mi | $1,829 | $290,000 | 17.7% |
| Lynchburg | 13 mi | $1,915 | $222,300 | 9.3% |
| West Memphis | 13 mi | $870 | $120,100 | 53.9% |
| Marion | 15 mi | $1,148 | $212,400 | 28.4% |
Places in Tennessee most like Memphis
| Place | Median gross rent | Median home value | Median household income | Households that rent |
|---|---|---|---|---|
| Knoxville | $1,191 | $239,700 | $54,039 | 53.4% |
| East Ridge | $1,147 | $211,100 | $62,247 | 42.5% |
| Red Bank | $1,283 | $269,400 | $63,983 | 44.2% |
| Chattanooga | $1,256 | $283,200 | $64,523 | 47.6% |
| Millington | $1,111 | $207,300 | $49,979 | 42.2% |
| Kingsport | $907 | $234,100 | $52,490 | 39.9% |
Matched on rent, home value, income, the share who rent, the age of the homes, the share in apartment buildings and the commute, each measured against the spread across Tennessee.
HUD Fair Market Rent for Memphis, fiscal year 2027
| Studio | 1 bedroom | 2 bedrooms | 3 bedrooms | 4 bedrooms |
|---|---|---|---|---|
| $1,095 | $1,191 | $1,301 | $1,717 | $1,981 |
HUD also publishes a Small Area Fair Market Rent for each ZIP code in the area; the Fair Market Rent page for this place lists its ZIP codes.
HUD income limits for Memphis, fiscal year 2026
| Household size | Extremely low (30%) | Very low (50%) | Low (80%) |
|---|---|---|---|
| 1 person | $19,500 | $32,450 | $51,950 |
| 2 people | $22,250 | $37,100 | $59,350 |
| 3 people | $27,320 | $41,750 | $66,750 |
| 4 people | $33,000 | $46,350 | $74,150 |
| 5 people | $38,680 | $50,100 | $80,100 |
| 6 people | $44,360 | $53,800 | $86,050 |
| 7 people | $50,040 | $57,500 | $91,950 |
| 8 people | $55,720 | $61,200 | $97,900 |
These are the limits HUD sets for its housing programs in the Memphis, TN-MS-AR HUD Metro FMR Area, where HUD’s median family income for fiscal year 2026 is $92,700.
A program can use its own limits; tax-credit and local programs often do.
Survey years: 2020–2024 (American Community Survey 5-year estimates), compared with 2015–2019.
Margins of error are at the 90% confidence level.
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Questions about Memphis
What is the average rent in Memphis, TN?
The Census Bureau publishes the median rather than the average: the median gross rent in Memphis is $1,181 (±$12) a month (2020–2024 American Community Survey), so half of renting households pay less and half pay more.
How much is a one-bedroom apartment in Memphis?
The median gross rent for a one-bedroom home in Memphis, TN is $994 (±$21) a month (2020–2024 American Community Survey).
Are renters in Memphis rent-burdened?
55.7% of renting households in Memphis pay 30% or more of their income in gross rent, the share housing researchers usually call rent-burdened (2020–2024 American Community Survey).
How many renters are there in Memphis?
Memphis has an estimated 139,512 (±2,326) renting households, 55.1% of its occupied homes (2020–2024 American Community Survey).
What is the median household income in Memphis?
The median household income in Memphis is $51,736 (±$1,072) a year (2020–2024 American Community Survey).
What is the average home value in Memphis, TN?
The Census Bureau publishes the median: $169,000 (±$3,795) for owner-occupied homes in Memphis (2020–2024 American Community Survey).
Is Memphis growing?
In Memphis, the number of residents went from 651,932 in 2015–2019 to 618,980 in 2020–2024 (−5.1%), a measurable decrease.
What ZIP codes are in Memphis?
The ZIP codes that cover Memphis are 38103, 38104, 38105, 38106, 38107, 38108, 38111, 38112, 38113, 38114.
What is the median rent in ZIP code 38103?
The median gross rent in ZIP Code Tabulation Area 38103 is $1,661 (±$70) a month (2020–2024 American Community Survey).
Sources
- Demographic and Housing Estimates (DP05), 2020–2024 ACS 5-year estimates — Memphis city, Tennessee
- Selected Housing Characteristics (DP04), 2020–2024 ACS 5-year estimates — Memphis city, Tennessee
- Selected Economic Characteristics (DP03), 2020–2024 ACS 5-year estimates — Memphis city, Tennessee
- Median Real Estate Taxes Paid by Mortgage Status (B25103), 2020–2024 ACS 5-year estimates — Memphis city, Tennessee
- Selected Social Characteristics (DP02), 2020–2024 ACS 5-year estimates — Memphis city, Tennessee
- Total Population (B01003), 2015–2019 ACS 5-year estimates — Memphis city, Tennessee
- Median Gross Rent (B25064), 2015–2019 ACS 5-year estimates — Memphis city, Tennessee
- HUD Fair Market Rents, fiscal year 2027: Memphis, TN-MS-AR HUD Metro FMR Area
- HUD Small Area Fair Market Rents, fiscal year 2027
- HUD Income Limits, fiscal year 2026: Memphis, TN-MS-AR HUD Metro FMR Area
- US Census Bureau, American Community Survey 2020–2024 5-year estimates for ZIP Code Tabulation Areas
- FBI Uniform Crime Reporting Program, Crime Data Explorer: Memphis Police Department (ORI TNMPD0000)
- FBI: Uniform Crime Reporting statistics and their proper use
- Consumer Price Index for All Urban Consumers (CPI-U), US city average, all items, US Bureau of Labor Statistics: annual averages 2019 and 2024
- US Census Bureau, 2024 Gazetteer Files
To check these figures in the Census Bureau’s own API, request the variables below from the 2024 ACS 5-year data profile (acs/acs5/profile) for Memphis city, Tennessee (place:48000, in state:47).
Each estimate (E or PE) has a margin of error beside it (M or PM).
The 2015–2019 figures are B01003_001E, B01003_001M, B25064_001E, B25064_001M from the 2019 release.
The API needs a free key.
DP05_0001E, DP05_0001M, DP04_0001E, DP04_0001M, DP04_0047PE, DP04_0047PM, DP04_0134E, DP04_0134M, DP03_0062E, DP03_0062M, DP04_0089E, DP04_0089M
This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.
Figures are published by the US Census Bureau, HUD, the Bureau of Labor Statistics and the FBI; Seayora reproduces them and does not adjust them, except where a sentence says it compares dollar figures after inflation. They describe the whole place, not any one building or street, and are not an appraisal, a rent determination, a tax bill, a safety rating or legal advice.
Figures last updated on .