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).

Shelby Forest-Frayser, TN Housing Market

$87,307

7.6% 1-yr

The average Shelby Forest-Frayser, TN home value is $87,307, down 7.6% over the past year, and homes go to pending in around 52 days. (Updated on 7/31/2026)

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

Shelby Forest-Frayser Key Takeaways

Typical Home Values: $87,307

1-Year Value Change: -7.6%

(Data through July 31, 2026)

Shelby Forest-Frayser Housing Market Overview

1-Year Market Forecast: --

For Sale Inventory: 253 (July 31, 2026)

New Listings: 62 (July 31, 2026)

Median Sale to List Ratio: 0.957 (June 30, 2026)

Median Sale Price: $89,750 (June 30, 2026)

Median List Price: $94,300 (July 31, 2026)

Percent of Sales Over List Price: 8.1% (June 30, 2026)

Percent of Sales Under List Price: 74.6% (June 30, 2026)

Median Days to Pending: 52 (July 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.

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Shelby Forest-Frayser Homes for Sale

$635,000

2 bd2 ba2,364 sqft

655 S Riverside Dr APT 1207

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Shelby Forest-Frayser Rental Market Trends

Average Rent: --

National Average Rent: $1,962 (July 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.