What are the most expensive neighborhoods in Memphis, TN?

The neighborhoods with the highest median home values in Memphis, TN include: River Oaks-Kirby-Balmoral ($311,107), Cordova-Appling ($261,773), Eads-Fisherville ($255,088), East Memphis-Colonial-Yorkshire ($192,590), Hickory Ridge-South Riverdale ($177,276).

What are the most affordable neighborhoods in Memphis, TN?

The neighborhoods with the lowest median home values in Memphis, TN include: Downtown ($86,008), Shelby Forest-Frayser ($86,328), Berclair-Highland Heights ($104,841), White Haven-Coro Lake ($117,159), Parkway Village-Oakhaven ($126,513).

Downtown, TN Housing Market

$86,591

7.0% 1-yr

The average Downtown, TN home value is $86,591, down 7.0% over the past year, and homes go to pending in around 71 days. (Updated on 8/31/2026)

What is the Zillow Home Values Index?

Zillow Home Value Index (ZHVI), built from the ground up by measuring monthly changes in property level Zestimates, captures both the level and home values across a wide variety of geographies and housing types.

Learn more about the Zillow Home Value Index

Downtown Key Takeaways

Typical Home Values: $86,591

1-Year Value Change: -7%

(Data through August 31, 2026)

Downtown Housing Market Overview

1-Year Market Forecast: --

For Sale Inventory: 384 (August 31, 2026)

New Listings: 68 (August 31, 2026)

Median Sale to List Ratio: --

Median Sale Price: $159,333 (July 31, 2026)

Median List Price: $182,117 (August 31, 2026)

Percent of Sales Over List Price: --

Percent of Sales Under List Price: --

Median Days to Pending: 71 (August 31, 2026)

(Metric availability is based on market coverage and data, housing data available for download in the Housing Data page)

How does this data help me?
Zillow's metrics provide valuable market data by tracking market changes in different locations and housing types.

Nearby Neighborhoods

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Downtown Homes for Sale

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Downtown Rental Market Trends

Average Rent: --

National Average Rent: $1,948 (August 31, 2026)

Month-Over-Month Change: --

Year-Over-Year Change: --

How does this data help me?
The Zillow Observed Rent Index (ZORI) measures changes in asking rents over time, controlling for changes in the quality of the available rental inventory.