Memphis, TN Real Estate
According to census data in the year 2000 there were 271,723 housing units in Memphis.
This represents a 9.3% growth from 248,573 in 1990.
Of those housing units, 271,498 were located in either urbanized areas or urban clusters, and 225 were located in what is classified as a rural area.
Homeownership rate in Memphis is about 55.9%.
Memphis's vacancy rate, including seasonal lodging, is about 7.7%.
Average household size is 2.52 people.
The majority of houses, apartments or condos in Memphis were built after 1966.
|Housing Units by Size|
|Five Bedrooms or more||2.10%|
Owned Homes, Apartments and Condos
|Average Household Size||2.65|
|Median year structure was built||1963|
|Median Value of occupied units||$72,800|
|Median Price asked for vacant units||$64,300|
Rented Homes, Apartments and Condos
|Average Household Size||2.37|
|Median year structure was built||1970|
|Median Monthly Rent asked for vacant units||$432|
Owners Finance Status
|Second Mortgage & Equity Loan||0.20%|
|Home Equity Loan||5.30%|
|Median part of Monthly Household Income dedicated to covering home ownership costs||19.6%|