Memphis, IN—47143
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Memphis, IN
As of Oct '25, the median home price in Memphis, IN is $293,000, with a year-over-year change of 2.1%. This indicates that home prices in Memphis, IN are increasing. According to Zillow, the 1-year price projection is 1.2%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $293,000 | 2.1% |
| Single Family | $295,000 | 2.1% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | $276,000 | 2.2% |
4 Bed | $365,000 | 3.4% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Memphis, IN
As of July '25, Rentcast reports the average rent in Memphis, IN is $1,810, with a year-over-year rent change of -21.3%. Per bedroom, the median rent as of July '25 in Memphis, IN is 3-bedrooms: $1,810. The most common rental property sizes in Memphis, IN are 3-bedroom and 1-bedroom, accounting for 80.2% and 11.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,720 | $1,810 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | $1,720 | $1,810 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Memphis, IN
As of Oct '25, Realtor.com reports that the median days on market for a home in Memphis, IN is 44. This is a decrease of -4.0% 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 42.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $305,000 | -12.0% |
Listing Count | 48 | 1.0% |
| Listings as % of Homes | 0.8% | 1.0% |
Days on Market | 44 | -4.0% |
Demographics — Memphis, IN
As of the latest ACS Survey released in 2023, Memphis, IN has a population of 3,780, which has increased by 25.3% over the past 5 years. Memphis, IN is a popular place for families, as children make up 27.9% of the population. The area has a moderately educated workforce, with 29.6% 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 | 3,780 | 25.3% |
% Under 18 | 27.9% | 17.7% |
% Seniors | 7.9% | -30.7% |
% WFH | 11.6% | 241.2% |
% w/ College Degree | 29.6% | -5.1% |
As of the latest ACS Survey released in 2023, Memphis, IN is a predominantly white area, with 92.7% of the population identifying as white. The white population has shrunk by 6.4% in the last 5 years. The second most common race or ethnicity in Memphis, IN is hispanic, making up 2.2% of the population. Foreign-born residents account for 0.6% of the population in Memphis, IN, and this percentage has decreased by 45.5% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 92.7% | -6.4% |
% Black | 1.2% | 100.0% |
% Hispanic | 2.2% | 450.0% |
% Asian | 0.0% | N/A |
% Foreign Born | 0.6% | -45.5% |
Mortgage and Risk — Memphis, IN
According to HUD data as of 2023, there were 183 mortgage originations in Memphis, IN, of which 76.0% of loans were conventional mortgages. The average loan-to-value was 62.0%, with 27.0% above 90% LTV (very high). This implies large mortgage risk in Memphis, IN. Investor activity is low, as 1.0% of loans were by investors. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 183 |
% Conventional Loans | 76.0% |
% Government Loans | 24.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Memphis, IN
Memphis, IN lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | N/A |
Total Units Section 8 | N/A |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $1,050 |
| 2 Bedroom | N/A | N/A | $1,280 |
| 3 Bedroom | -$70 | $1,720 | $1,650 |
| 4 Bedroom | N/A | N/A | $1,910 |
Affordability — Memphis, IN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2 |
| Median Home Price | $293,000 |
| Median Household Income | $133,000 |