East Memphis, Memphis, TN—38117
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — East Memphis, Memphis, TN
As of Oct '25, the median home price in East Memphis, Memphis, TN is $263,000, with a year-over-year change of -2.1%. This indicates that home prices in East Memphis, Memphis, TN are decreasing. According to Zillow, the 1-year price projection is 0.1%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $263,000 | -2.1% |
| Single Family | $264,000 | -2.2% |
| Condos | $250,000 | 2.0% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $133,000 | -1.5% |
2 Bed | $186,000 | -2.1% |
3 Bed | $236,000 | -1.7% |
4 Bed | $446,000 | -0.7% |
| 5 Bed | $874,000 | -2.1% |
% of Housing Stock
Rental Trends — East Memphis, Memphis, TN
As of July '25, Rentcast reports the average rent in East Memphis, Memphis, TN is $1,670, with a year-over-year rent change of -4.0%. Per bedroom, the median rent as of July '25 in East Memphis, Memphis, TN is studios: $1,400, 2-bedrooms: $1,510, 3-bedrooms: $1,560, 4-bedrooms: $2,200. The most common rental property sizes in East Memphis, Memphis, TN are 3-bedroom and 2-bedroom, accounting for 57.9% and 20.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,520 | $1,670 |
| Studio Rent | $1,400 | $1,400 |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $1,350 | $1,510 |
| 3 Bed Rent | $1,500 | $1,560 |
| 4 Bed Rent | $2,000 | $2,200 |
% of Rental Stock
Property Listings — East Memphis, Memphis, TN
As of Oct '25, Realtor.com reports that the median days on market for a home in East Memphis, Memphis, TN is 57. This is a decrease of -2.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 45.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $316,000 | 4.0% |
Listing Count | 236 | -5.0% |
| Listings as % of Homes | 1.0% | -5.0% |
Days on Market | 57 | -2.0% |
Demographics — East Memphis, Memphis, TN
As of the latest ACS Survey released in 2023, East Memphis, Memphis, TN has a population of 26,300, which has increased by 1.7% over the past 5 years. East Memphis, Memphis, TN is a moderately popular place for families, as children make up 21.7% of the population. The area has a highly educated workforce, with 60.0% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 11.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 26,300 | 1.7% |
% Under 18 | 21.7% | 1.9% |
% Seniors | 19.3% | 6.6% |
% WFH | 11.6% | 152.2% |
% w/ College Degree | 60.0% | 6.8% |
As of the latest ACS Survey released in 2023, East Memphis, Memphis, TN is a predominantly white area, with 75.6% of the population identifying as white. The white population has shrunk by 9.5% in the last 5 years. The second most common race or ethnicity in East Memphis, Memphis, TN is black, making up 12.1% of the population. Foreign-born residents account for 6.1% of the population in East Memphis, Memphis, TN, and this percentage has increased by 3.4% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 75.6% | -9.5% |
% Black | 12.1% | 36.0% |
% Hispanic | 8.4% | 71.4% |
% Asian | 2.1% | 50.0% |
% Foreign Born | 6.1% | 3.4% |
Mortgage and Risk — East Memphis, Memphis, TN
According to HUD data as of 2023, there were 635 mortgage originations in East Memphis, Memphis, TN, of which 86.0% of loans were conventional mortgages. The average loan-to-value was 70.0%, with 31.0% above 90% LTV (very high). This implies large mortgage risk in East Memphis, Memphis, TN. Investor activity is low, as 5.0% of loans were by investors. 7.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 635 |
% Conventional Loans | 86.0% |
% Government Loans | 14.0% |
% Investor Loans | 5.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 7.0% |
Loan Activity
Rentals and Section 8 — East Memphis, Memphis, TN
East Memphis, Memphis, TN lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 51 |
Total Units Section 8 | 51 |
% Rentals under Section 8 | 1.4% |
% Occupied Section 8 | 93.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $1,380 |
| 2 Bedroom | $200 | $1,350 | $1,550 |
| 3 Bedroom | $540 | $1,500 | $2,040 |
| 4 Bedroom | $390 | $2,000 | $2,390 |
Affordability — East Memphis, Memphis, TN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.9 |
| Median Home Price | $263,000 |
| Median Household Income | $93,700 |