Cities with the fastest-growing home prices in the Memphis metro area

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May 2, 2024
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Cities with the fastest-growing home prices in the Memphis metro area

The real estate frenzy spurred by the coronavirus pandemic continues, though at a slower pace. Buyers are still competing for a limited supply of housing, driving up prices for affordable properties.

In March, the typical home value in the United States was $355,696, 4.6% higher than the previous year.

Increasing mortgage rates have slowed growth, with prices even declining in some places. But some areas are still seeing price jumps compared to the year before.

Stacker compiled a list of cities with the fastest-growing home prices in the Memphis metro area using Zillow data. Cities are ranked by their one-year price change as of March 2024.

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Stacker

#30. Oakland, TN

- 1-year price change: +$7,329 (+2.1%)
- 5-year price change: +$125,193 (+55.9%)
- Typical home value: $349,241 (#9 most expensive city in metro)
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Stacker

#29. Moscow, TN

- 1-year price change: +$7,832 (+3.1%)
- 5-year price change: +$83,222 (+46.7%)
- Typical home value: $261,585 (#21 most expensive city in metro)
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Stacker

#28. Walls, MS

- 1-year price change: +$7,840 (+3.4%)
- 5-year price change: +$82,924 (+52.8%)
- Typical home value: $240,006 (#24 most expensive city in metro)
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Stacker

#27. Sarah, MS

- 1-year price change: +$8,556 (+4.4%)
- 5-year price change: +$64,815 (+46.7%)
- Typical home value: $203,682 (#33 most expensive city in metro)
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Stacker

#26. Senatobia, MS

- 1-year price change: +$9,460 (+4.4%)
- 5-year price change: +$72,736 (+47.9%)
- Typical home value: $224,742 (#27 most expensive city in metro)
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Stacker

#25. Grand Junction, TN

- 1-year price change: +$9,494 (+7.8%)
- 5-year price change: +$72,736 (data not available)
- Typical home value: $131,055 (#44 most expensive city in metro)
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Stacker

#24. Lynchburg, MS

- 1-year price change: +$9,559 (+4.0%)
- 5-year price change: +$85,671 (+52.8%)
- Typical home value: $248,062 (#22 most expensive city in metro)
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Stacker

#23. Nesbit, MS

- 1-year price change: +$10,795 (+3.2%)
- 5-year price change: +$103,131 (+41.9%)
- Typical home value: $349,526 (#8 most expensive city in metro)
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Stacker

#22. Williston, TN

- 1-year price change: +$10,940 (+3.6%)
- 5-year price change: +$94,193 (+43.3%)
- Typical home value: $311,788 (#15 most expensive city in metro)
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Stacker

#21. Dundee, MS

- 1-year price change: +$11,131 (+8.4%)
- 5-year price change: +$24,299 (+20.4%)
- Typical home value: $143,581 (#42 most expensive city in metro)
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Stacker

#20. Somerville, TN

- 1-year price change: +$11,403 (+4.1%)
- 5-year price change: +$98,294 (+50.7%)
- Typical home value: $292,088 (#16 most expensive city in metro)
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Stacker

#19. Red Banks, MS

- 1-year price change: +$11,810 (+5.4%)
- 5-year price change: +$98,294 (data not available)
- Typical home value: $232,208 (#26 most expensive city in metro)
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Stacker

#18. Byhalia, MS

- 1-year price change: +$12,088 (+5.2%)
- 5-year price change: +$79,262 (+47.7%)
- Typical home value: $245,576 (#23 most expensive city in metro)
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Stacker

#17. Covington, TN

- 1-year price change: +$12,325 (+7.1%)
- 5-year price change: +$67,200 (+56.4%)
- Typical home value: $186,391 (#35 most expensive city in metro)
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Stacker

#16. Burlison, TN

- 1-year price change: +$12,682 (+6.3%)
- 5-year price change: +$67,200 (data not available)
- Typical home value: $213,066 (#31 most expensive city in metro)
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Stacker

#15. Coldwater, MS

- 1-year price change: +$12,831 (+6.5%)
- 5-year price change: +$70,283 (+49.8%)
- Typical home value: $211,476 (#32 most expensive city in metro)
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Stacker

#14. Garland, TN

- 1-year price change: +$12,900 (+6.4%)
- 5-year price change: +$70,283 (data not available)
- Typical home value: $214,415 (#30 most expensive city in metro)
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Stacker

#13. Mason, TN

- 1-year price change: +$12,925 (+8.2%)
- 5-year price change: +$71,681 (+73.0%)
- Typical home value: $169,831 (#37 most expensive city in metro)
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Stacker

#12. Lakeland, TN

- 1-year price change: +$13,626 (+3.1%)
- 5-year price change: +$155,106 (+52.3%)
- Typical home value: $451,477 (#6 most expensive city in metro)
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Stacker

#11. Germantown, TN

- 1-year price change: +$14,378 (+3.0%)
- 5-year price change: +$150,320 (+44.2%)
- Typical home value: $490,261 (#5 most expensive city in metro)
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Stacker

#10. Gilt Edge, TN

- 1-year price change: +$14,687 (+7.0%)
- 5-year price change: +$150,320 (data not available)
- Typical home value: $223,698 (#28 most expensive city in metro)
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Stacker

#9. Hickory Valley, TN

- 1-year price change: +$15,080 (+9.7%)
- 5-year price change: +$150,320 (data not available)
- Typical home value: $170,196 (#36 most expensive city in metro)
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Stacker

#8. Rossville, TN

- 1-year price change: +$15,504 (+2.9%)
- 5-year price change: +$182,902 (+49.4%)
- Typical home value: $553,106 (#2 most expensive city in metro)
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Stacker

#7. Atoka, TN

- 1-year price change: +$16,125 (+4.9%)
- 5-year price change: +$128,515 (+59.8%)
- Typical home value: $343,479 (#10 most expensive city in metro)
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Stacker

#6. Collierville, TN

- 1-year price change: +$16,503 (+3.3%)
- 5-year price change: +$161,574 (+46.0%)
- Typical home value: $512,822 (#4 most expensive city in metro)
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Stacker

#5. Brighton, TN

- 1-year price change: +$16,722 (+6.7%)
- 5-year price change: +$100,945 (+61.0%)
- Typical home value: $266,318 (#18 most expensive city in metro)
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Stacker

#4. Munford, TN

- 1-year price change: +$17,309 (+6.7%)
- 5-year price change: +$105,662 (+62.0%)
- Typical home value: $275,982 (#17 most expensive city in metro)
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Stacker

#3. Drummonds, TN

- 1-year price change: +$17,926 (+7.3%)
- 5-year price change: +$94,645 (+56.4%)
- Typical home value: $262,419 (#20 most expensive city in metro)
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Stacker

#2. Piperton, TN

- 1-year price change: +$20,392 (+3.1%)
- 5-year price change: +$213,570 (+45.1%)
- Typical home value: $687,365 (#1 most expensive city in metro)
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Stacker

#1. Hickory Withe, TN

- 1-year price change: +$25,263 (+5.0%)
- 5-year price change: +$159,064 (+42.5%)
- Typical home value: $533,594 (#3 most expensive city in metro)

This story features data reporting and writing by Elena Cox and is part of a series utilizing data automation across 380 metros.

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