Housing costs in Memphis?
A typical home costs
$115,800, which is 65.7% less expensive than the national average of
$338,100 and 58.3% less expensive than the average Tennessee home, at
$277,400. Renting a two-bedroom unit in Memphis costs
$900 per month, which is 15.9% cheaper than the national average of
$1,070 and 13.3% cheaper than the state average of
$1,020.
Can I afford Memphis?
To live comfortably in Memphis (zip 38105), Tennessee, a minimum annual income of
$22,320 for a family, and
$31,600 for a single person is recommended.
What does A.I. say about Memphis?
Living in 38105 Memphis, TN is relatively affordable, with a median home cost of only around $120,000 and a median household income of just below $40,000. The area boasts a cost of living that is significantly lower than the national average, making it an attractive option for those looking to save money while still enjoying the amenities that this vibrant city has to offer. Additionally, residents of 38105 are privy to some of the best restaurants and nightlife experiences in the South. With so many opportunities for entertainment and recreation at low costs, it's no wonder why 38105 Memphis is becoming an increasingly popular choice for young professionals and families alike.