Memphis, TN Real Estate

According to census data in the year 2000 there were 271,723 housing units in Memphis. This represents a 9.3% growth from 248,573 in 1990.

Of those housing units, 271,498 were located in either urbanized areas or urban clusters, and 225 were located in what is classified as a rural area.

Homeownership rate in Memphis is about 55.9%. Memphis's vacancy rate, including seasonal lodging, is about 7.7%. Average household size is 2.52 people.

The majority of houses, apartments or condos in Memphis were built after 1966.


Housing Size

Housing Units by Size
Studio Type2.10%
One Bedroom14.40%
Two Bedrooms33%
Three Bedrooms38.50%
Four Bedrooms10%
Five Bedrooms or more2.10%
As % of Housing Units

Owned Homes, Apartments and Condos

Average Household Size2.65
Median year structure was built1963
Median Value of occupied units$72,800
Median Price asked for vacant units$64,300

Rented Homes, Apartments and Condos

Average Household Size2.37
Median year structure was built1970
Median Monthly Rent asked for vacant units$432

Owners Finance Status

Housing Finance
Second Mortgage & Equity Loan0.20%
Second Mortgage7.90%
Home Equity Loan5.30%
Simple Mortgage58.80%
Debt Free27.80%
As % of Housing Units
Median part of Monthly Household Income dedicated to covering home ownership costs19.6%