Memphis, MO
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Memphis, MO Real Estate Data


Memphis Housing Market Information

With a population of 1,829, 838 total housing units (homes and apartments), and a median house value of $63,066, house prices in Memphis are some of the most affordable in Missouri as well as the nation.

Single-family detached homes are the single most common housing type in Memphis, accounting for 78.39% of the city's housing units. Other types of housing that are prevalent in Memphis include duplexes, homes converted to apartments or other small apartment buildings ( 13.56%), mobile homes or trailers ( 6.09%), and a few row houses and other attached homes ( 1.08%).

The most prevalent building size and type in Memphis are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 63.52% owning and 36.48% renting.

The housing in Memphis was primarily built before 1939 ( 37.03%), making the housing stock in Memphis some of the oldest overall in America, although there is a range of ages of homes in Memphis. The next most important housing age is between 1940-1969 ( 32.42%), followed by between 1970-1999 ( 26.92%). There's also some housing in Memphis built between 2000 and later ( 3.63%).

Vacant housing appears to be an issue in Memphis. Fully 17.68% of the housing stock is classified as vacant. Left unchecked, vacant Memphis homes and apartments can be a drag on the real estate market, holding Memphis real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Memphis Home Appreciation Rates

Real estate appreciation rates in Memphis's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.64% during the period.

Over the last year, Memphis appreciation rates have trailed the rest of the nation. In the last twelve months, Memphis's appreciation rate has been 3.38%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Memphis were at 0.50%, which equates to an annual appreciation rate of 2.00%.

Notably, Memphis's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Missouri, our data show that Memphis's latest annual appreciation rate is lower than 80% of the other cities and towns in Missouri.

Average Home Values

 

Median Home Value:
$63,066

Memphis, MO HOME PRICES

Value Range
> $1,061,000 0.0
$796,001 - $1,061,000 0.0
$530,001 - $796,000 0.0
$424,001 - $530,000 2.6
$318,001 - $424,000 0.0
$212,001 - $318,000 1.0
$106,001 - $212,000 13.2
$53,001 - $106,000 43.1
$0 - $53,000 40.1

Very Low for MO
Very Low for Nation

Value Relative to Nation Value Relative to State
97.7045148445277 97.6

Number Of Homes And Apartments:
838

Rent & Ownership

 

Average Market Rent:
$626 / per month

Homeownership Rate

Homeownership
Owners 63.52
Renters 36.48
Vacant 17.68

Housing Market Details

 

Age of Homes

AGE OF Memphis HOMES
2000 or Newer 3.6
1970 - 1999 26.9
1940 - 1969 32.4
1939 or Older 37.0

Types of Homes

TYPE OF Memphis HOMES
Single-Family 78.4
Townhomes 1.1
Small Apt. Buildings 13.6
Apt. Complexes 0.9
Mobile Homes 6.1
Other 0.0

Home Size

SIZE OF Memphis HOMES
No Bedroom 1.18
1 Bedroom 11.10
2 Bedrooms 36.05
3 Bedrooms 42.24
4 Bedrooms 6.39
5 or more bedrooms 3.05

Memphis Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MO*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
30.74% 1.59% 4 3
* 10 is highest

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