Similar to its nearby areas, it's a little less expensive compared to the entire nation. Compared to the city of Cincinnati however, it is a little more expensive.
Home prices
The median home in Memphis costs $159,400. In comparison to nearby areas this is about $6,840 (4%) higher.It is approximately $58,100 (26%) lower compared to the United States as a whole, and is about $21,400 (15%) higher in comparison to the city of Cincinnati.
Rents
In Memphis the median rent is $777 a month. It is roughly $217 (21%) lower in comparison to the surrounding areas.In comparison to the entire nation it is roughly $285 (26%) lower, and in comparison to the city of Cincinnati is approximately $39 (5%) higher.
Nearby places
Henryville
Henryville is approximately 3 miles north of Memphis. Its housing prices are somewhat less expensive. The median home in Henryville is valued at $146,500, which comes out to $12,900 (8%) lower than Memphis. The rent there is pretty similar. Henryville's median rent is $789 per month, which is $12 (1%) higher than Memphis.
Sellersburg
Sellersburg is about 5 miles south from Memphis. Its real estate prices are pretty similar. The median home value in Sellersburg is $154,300, which is $5,100 (3%) lower than Memphis. Rents there are a little more expensive. The median rent in Sellersburg is $999 a month, which works out to $222 (22%) higher than Memphis.
Charlestown
Charlestown is about 6 miles southeast from Memphis. The housing prices there are a little less expensive. The median home in Charlestown is valued at $136,500, which comes out to $22,900 (16%) lower than Memphis. Its rents are similar. Charlestown's median rent is $758 per month, which comes out to $19 (2%) lower than Memphis.
Borden
Borden is about 8 miles west of Memphis. The housing prices there are substantially less expensive. The median home price in Borden is $120,700, which works out to $38,700 (32%) lower than Memphis. The rent there is somewhat less expensive. In Borden the median monthly rent is $740, which comes out to $37 (5%) lower than Memphis.
Goshen
Goshen is about 10 miles southeast of Memphis. Housing prices there are somewhat more expensive. The median home price in Goshen is $204,800, which works out to $45,400 (22%) higher than Memphis. Its rents are significantly more expensive. Goshen's median monthly rent is $1,682, which works out to $905 (53%) higher than Memphis.
