What the numbers say
The typical Memphis home is worth $244,737 as of August 2026, up 0.1% from $244,441 a year earlier.
Homes are going under contract in 61 days on average, slower than the 53 days of a year ago. Over the same period the share of sales closing above asking fell to 17.3%.
There are 6,485 homes on the market, more than a year ago (+11.7%). New listings are down 2.1% over the same period, so the larger pool reflects homes staying on the market rather than more sellers arriving.
Asking rents are at $1,400 a month, +1.0% year over year.
Where these figures come from
Every number on this page is Zillow Research metro-level data, ingested directly from the public research files rather than copied from a page. Nothing here is modelled, estimated or adjusted by us. Each metric carries its own release date because Zillow publishes them on separate schedules, and restating a June figure as though it were July would be the only way to make the dates match.
The metro area is broader than the city. Memphis, TN covers the whole statistical area, so a specific neighbourhood or ZIP code can differ from these figures substantially — treat them as the backdrop a local conversation happens against, not as a valuation.