Memphis, TN Homes For Sale & Real Estate

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Memphis, TN Real Estate Insights

Memphis is situated along the Mississippi River along southwestern Tennessee. Memphis is best known for it's music scene, primarily famous from the legendary Sun Studio and artists like B.B. King, Johnny Cash and Elvis Presley recording top hits during their careers. Today, the famous Beale Street hosts a musical festival every May and the city hosts The Blues Music Awards each year. The Memphis Music Festival, which commemorates blues, jazz, country, western and rock artists, is held in September every year. The Memphis in May International Festival is a month-long celebration on Beale Street featuring a different country each year, a World Championship Barbeque Cooking Content and a Sunset Symphony to closet out the ceremony on the final day.

Aside from Memphis' rich musical history, the city is a solid investment opportunity where many individuals and families choose to settle down both short and long term. The median age of residents in Memphis is 35, while the median age of homeowners in Memphis is 49.5 years old. Memphis home prices are inexpensive compared to national real estate, with the average list price in 2015 at $113,918, down 7.03 percent from the year prior. Real estate is inexpensive, but median income is also somewhat low at $35,083 per year. The average income across many major U.S. metros is $50,549 per year. According to the U.S. Census, the median household income was $51,939 in 2013 across the entire nation.