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Memphis, Tennessee, offers prospective residents a compelling combination of rich cultural heritage and notable affordability. With a median home sale price of $173,750 and an average rent of $1,343, the city presents a accessible market for buyers and renters alike. This guide explores 16 distinct Memphis neighborhoods, categorized by lifestyle and budget, to help you find the ideal area to call home.
For those prioritizing budget-friendly options, several Memphis neighborhoods stand out for their lower median sale prices. Frayser leads with a median sale price of $78,000, offering traditional ranch-style homes and bungalows. Whitehaven, home to the iconic Graceland, follows with a median price of $149,500, while Hickory Hill and Raleigh provide suburban settings with median prices around $156,950 and $160,500, respectively. These areas often feature more single-family homes, making them suitable for first-time buyers or investors.
Families and those seeking a more suburban atmosphere within the city limits may prefer Cordova or East Memphis. Cordova, located in East Memphis, provides access to the massive Shelby Farms Park and has a median home price of $305,000. East Memphis itself is home to family-friendly attractions like the Memphis Botanic Garden and the Children’s Museum of Memphis, with a median sale price of $315,000. These areas typically feature a higher concentration of single-family homes with varied architectural styles, from classic Colonials to contemporary designs.
Southwind is another top choice, known for its well-maintained landscapes and access to the TPC Southwind golf course. It represents a higher price point, with a median sale price of $302,500, reflecting its upscale amenities.
Memphis is rich in history, and neighborhoods like Central Gardens and Vollintine-Evergreen are prime examples. Central Gardens, part of Midtown, is celebrated for its tree-lined streets and historic homes, including grand Victorian mansions and Craftsman bungalows, with a median sale price of $350,000. Vollintine-Evergreen offers a picturesque setting with well-preserved homes from the early 20th century, featuring Craftsman, Tudor, and Colonial Revival styles, at a median price of $205,100.
The Cooper-Young historic district, listed on the National Register of Historic Places, combines historic charm with an eclectic, artsy vibe. Its mix of charming cottages and modern lofts has a median sale price of $291,000.
For those seeking a vibrant, walkable urban experience, Downtown Memphis and the South Main Arts District are unparalleled. Downtown offers historic lofts, modern high-rises, and immediate access to Beale Street and the National Civil Rights Museum, with a median sale price of $272,000. The adjacent South Main Arts District is the epicenter of the city's art scene, filled with galleries and studios, commanding a higher median price of $535,000.
Midtown Memphis provides a central location with a diverse mix of housing options and easy access to cultural institutions like the Memphis Zoo and the Memphis Brooks Museum of Art, with a median sale price of $295,000.
To make your decision easier, consider these key steps:
The Memphis housing market offers a diverse range of options, from affordable starter homes to luxurious historic properties. By carefully aligning your lifestyle needs and budget with the character of these neighborhoods, you can find a community that feels like home.
