Cheapest suburbs of Memphis
Typical home value, September 2026 · Zillow ZHVI (Sep 2026) · updated 2026-11-15
West Memphis, AR has the lowest typical home value of the 18 suburbs ranked in the Memphis area: $131,000, 46% below the figure for the metro area as a whole ($242,000).
The 10 lowest run from $131,000 to $318,000; the highest of all 18 is $503,000, 3.8 times the lowest.
14 of the 18 suburbs are below the U.S. typical home value of $366,000; the median suburb in the Memphis area is at $301,000.
The typical home value in Memphis itself is $152,000.
Cheapest suburbs of Memphis: the 18
| Rank | City or town | Typical home value | Home values, 1-year change | Typical rent (monthly) |
|---|---|---|---|---|
| 1 | West Memphis, AR | $131,000 | +5.3% | $1,200 |
| 2 | Holly Springs, MS | $172,000 | −3.5% | – |
| 3 | Horn Lake, MS | $202,000 | +0.6% | $1,485 |
| 4 | Covington, TN | $205,000 | +2.2% | $1,062 |
| 5 | Millington, TN | $235,000 | +1.8% | $1,533 |
| 6 | Marion, AR | $240,000 | +2.8% | $1,105 |
| 7 | Senatobia, MS | $250,000 | +5.9% | – |
| 8 | Southaven, MS | $273,000 | +1.3% | $1,575 |
| 9 | Munford, TN | $284,000 | +1.0% | – |
| 10 | Bartlett, TN | $318,000 | −1.0% | $1,858 |
| 11 | Olive Branch, MS | $334,000 | +1.0% | $1,829 |
| 12 | Hernando, MS | $347,000 | +2.1% | $2,167 |
| 13 | Atoka, TN | $348,000 | +0.3% | – |
| 14 | Oakland, TN | $351,000 | −2.2% | $2,080 |
| 15 | Arlington, TN | $407,000 | −1.5% | $2,334 |
| 16 | Lakeland, TN | $447,000 | −1.0% | $1,709 |
| 17 | Germantown, TN | $481,000 | −1.1% | $2,319 |
| 18 | Collierville, TN | $503,000 | −1.4% | $1,891 |
- Under $220k
- $220k–$270k
- $270k–$340k
- $340k–$380k
- $380k+
- Not ranked
More rankings for the Memphis area
- Cheapest ZIP codes
- Most expensive ZIP codes
- Where home prices are falling
- Where home prices are rising fastest
- Cheapest rent by ZIP code
- Highest rent by ZIP code
- Where rents are falling
- Where rents are rising fastest
- Richest ZIP codes (household income)
- Most expensive suburbs
- Richest suburbs (household income)
- Largest suburbs (population)
- Memphis metro area: all figures
Cheapest suburbs in other metro areas
- New York, NY
- Los Angeles, CA
- Chicago, IL
- Dallas, TX
- Houston, TX
- Atlanta, GA
- Washington, DC
- Miami, FL
- Philadelphia, PA
- Phoenix, AZ
- Boston, MA
- Riverside, CA
- San Francisco, CA
- Detroit, MI
- Seattle, WA
- Minneapolis, MN
- Tampa, FL
- San Diego, CA
- Denver, CO
- Orlando, FL
- Charlotte, NC
- Baltimore, MD
- St. Louis, MO
- San Antonio, TX
- Austin, TX
- Portland, OR
- Sacramento, CA
- Pittsburgh, PA
- Cincinnati, OH
- Kansas City, MO
- Columbus, OH
- Indianapolis, IN
- Nashville, TN
- Cleveland, OH
- San Jose, CA
- Virginia Beach, VA
- Jacksonville, FL
- Providence, RI
- Raleigh, NC
- Milwaukee, WI
- Oklahoma City, OK
- Louisville, KY
- Richmond, VA
- Salt Lake City, UT
- Fresno, CA
- Birmingham, AL
- Grand Rapids, MI
Source and method
Typical home value: Zillow ZHVI (Sep 2026); figures for September 2026. Cities and towns in the Memphis area with at least 5,000 residents and a published figure are ranked (18); Memphis itself is left out. The metro area is the Memphis, TN-MS-AR metropolitan statistical area. Place names for ZIP codes are the neighborhood or city the ZIP code mostly covers. Compiled by Home Economics.
Zillow's "typical" home value and rent are index values for the middle of the market (the Zillow Home Value Index and Observed Rent Index), not median sale prices or asking rents. One-year changes are over the 12 months to September 2026. Income and population come from the Census Bureau's American Community Survey and carry sampling error, most of all in small places.