Land and home values in Memphis, TN
Memphis is a city in Shelby County, Tennessee, home to about 618,980 people. Residential land runs about $2.77 per sq ft, the typical home is worth about $172,000, and a 2-bedroom rents for about $1,210 a month, as of October 12, 2026.
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| Land: residential | $2.77 | per sq ft |
| Land: residential | $120,443 | per acre |
| Land: quarter-acre lot | $30,111 | 10,890 sq ft |
| Home: typical (median) | $172,000 | value |
| Home: entry-level | $55,900 | lower quartile |
| Home: upper-end | $246,000 | upper quartile |
| Build new | $157 | per sq ft, no land |
| Rent: 1-bedroom | $1,080 | per month |
| Rent: 2-bedroom | $1,210 | per month |
| Rent: 3-bedroom | $1,570 | per month |
| Rent: 4-bedroom | $1,840 | per month |
| Gross yield, 2-bed | 8.4% | a year |
ZIP codes
Questions people ask
How much is land worth in Memphis, TN?
Residential land in Memphis, TN is about $2.77 per square foot, or $120,443 an acre, as of October 2026. A quarter-acre lot (10,890 sq ft) is about $30,111. Smaller lots sell for more per square foot and large tracts for less.
What is the typical home value in Memphis, TN?
The typical (median) home in Memphis, TN is worth about $172,000, with entry-level homes around $55,900 and upper-end homes around $246,000, as of October 2026.
How much is rent in Memphis, TN?
A 2-bedroom rents for about $1,210 a month in Memphis, TN, a 1-bedroom about $1,080 and a 3-bedroom about $1,570 (gross rent including utilities, HUD Fair Market Rent basis).
Is this an appraisal?
No. Indicative values for screening, budgeting and negotiation, not an appraisal. For lending, a tax appeal or legal use, hire a state-licensed or certified appraiser.