The housing market in Memphis, TN has proven to be a great investment in recent times. The median value of houses in the area is $222,600, which is much lower than the US median house value of $338,100. This means that potential homebuyers are getting more bang for their buck. Additionally, the 1 year house appreciation in the 38134 zip code of Memphis has been 15.04%, much higher than the national average of 8.27%. This indicates that investing in housing in this area will be very lucrative and is a wise choice for potential buyers looking for an affordable property with great return on investment potential.
The median home cost in Memphis (zip 38134) is $222,600. Home appreciation the last 10 years has been 97.6%. Home Appreciation in Memphis (zip 38134) is up 15.0%.
Average Age of Homes
- The median age of Memphis (zip 38134) real estate is 39 years old
The Rental Market in Memphis (zip 38134)
- Renters make up 44.5% of the Memphis (zip 38134) population
- 2.4% of houses and apartments in Memphis (zip 38134), are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.