Housing Market Analysis · 2026
Rent vs Buy in Memphis, TN
Local prices pre-filled. Adjust any input to match your situation.
Should you buy in Memphis?
Price-to-Rent Ratio
14x — strongly favors buying
At 14x, homes in Memphis, TN are relatively affordable compared to rents. Buyers who plan to stay 5+ years typically come out ahead.
Monthly Cost Gap
Monthly ownership costs run about $367 above median rent in Memphis, TN. This relatively tight gap makes the rent-vs-buy decision especially sensitive to how long you stay in the home.
Price Trends
Home prices in Memphis, TN declined 0.4% year-over-year, which creates potential buying opportunities but also signals some market softness worth monitoring.
Affordability
With an income threshold of $68K, Memphis, TN is among the more accessible markets for first-time buyers — though the decision still hinges on how long you plan to stay.
Interactive Calculator — Memphis Pre-filled
Values are set to Memphis, TN medians. Change anything to match your scenario.
At 10 years
Renting wins by $309
No breakeven in selected timeframe.
Monthly Cost (Year 1)
Wealth Over Time
| Year | Buyer | Renter | Winner |
|---|---|---|---|
| 1 | $43K | $63K | Rent |
| 2 | $53K | $72K | Rent |
| 3 | $64K | $81K | Rent |
| 4 | $75K | $90K | Rent |
| 5 | $87K | $100K | Rent |
| 6 | $99K | $110K | Rent |
| 7 | $112K | $120K | Rent |
| 8 | $125K | $131K | Rent |
| 9 | $139K | $142K | Rent |
| 10 | $153K | $153K | Rent |
Common Questions — Renting vs Buying in Memphis
Other TN Markets to Compare
See how the rent-vs-buy math stacks up in other TN cities.