Checked
Memphis, MI Home Values and Rents
The typical home value in Memphis is $330,216, 163rd highest of 442 cities and towns in Michigan. Median rent is $820 a month.
- Typical home value
- $330,216
- 163rd of 442 in MI
- Median rent
- $820/mo
- ACS 2020-2024
- Price change, 1 year
- +6.8%
- Sep 2026
- Homeownership
- 67.6%
- MI: 73.2%
Home sale prices in the Detroit-Warren-Dearborn, MI area
Zillow median sale price, Sep 2026
$273,321+3.9% from a year earlier
Half of homes in the metro area sold for more and half for less. Zillow publishes sale prices for metro areas, not for single counties or cities.
Typical home value in Memphis
Zillow Home Value Index, all homes, middle tier
Show as a table
| Period | Memphis |
|---|---|
| Sep 2026 | $330,216 |
| Dec 2025 | $316,611 |
| Dec 2024 | $299,760 |
| Dec 2023 | $285,247 |
| Dec 2022 | $273,925 |
| Dec 2021 | $260,794 |
| Dec 2020 | $242,453 |
| Dec 2019 | $215,991 |
| Dec 2018 | $187,219 |
| Dec 2017 | $172,303 |
| Dec 2016 | $162,714 |
| Dec 2015 | $153,353 |
| Dec 2014 | $143,683 |
| Dec 2013 | $129,715 |
| Dec 2012 | $115,949 |
Over five years, Memphis prices changed +25.3%.
Source: Zillow Research · Last updated 09/01/2026
Fair Market Rents, FY2027
HUD rent standard for Detroit-Warren-Livonia, MI HUD Metro FMR Area
| Unit size | Monthly rent | vs FY2026 |
|---|---|---|
| Studio | $1,047 | +3.8% |
| 1 bedroom | $1,167 | +4.0% |
| 2 bedrooms | $1,459 | +3.4% |
| 3 bedrooms | $1,777 | +3.1% |
| 4 bedrooms | $1,929 | +3.3% |
Frequently asked questions
- What is the typical home value in Memphis, MI?
- The typical home value in Memphis is $330,216 (Zillow Home Value Index, Sep 2026). The Michigan median is $231,600.
- How much is rent in Memphis?
- The median rent in Memphis is $820 a month, including utilities paid by the renter. HUD's FY2027 Fair Market Rent for a two-bedroom unit is $1,459.
- Are home prices going up in Memphis?
- The typical home value in Memphis changed +6.8% over one year and +25.3% over five years, as of Sep 2026.
- How does Memphis compare with the rest of Michigan?
- Memphis has the 163rd highest median home value of 442 cities and towns with 1,000+ residents in Michigan.