Data through September 2026 · updated 2026-11-07 · free, from Zillow, Realtor.com, the Census Bureau and other public sources
Typical home value$215,732−1.2% YoY · prices are falling
Market right nowBuyer's marketMore homes for sale than last year, 24% have cut their price
Income needed to buy, per year$46,766About 0.7× the local median income ($65,005): affordable for a typical household
Days on market75 daysSlower than a year ago: buyers have time to negotiate
Next 12 months−0.1%Zillow expects prices to stay about flat
The typical home in Shelby County, TN is worth $215,732, down 1.2% from a year ago. That is well above what local incomes have historically supported: fair value is about $195,587, so the area is 10.3% overvalued. It is a buyer's market: homes take about 75 days to sell, listings are up 9% from a year ago, 24% of listings have had a price cut. Zillow expects prices to fall about 0.1% over the next year. A household needs about $46,766 a year to afford the typical home here at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $65,005. Typical rent is $1,341 a month, or $1,539 for a house. In the latest IRS figures, 9,230 more people moved out than in.
Home value over time
Solid: typical home value · dashed: fair value (household income × the 20-year average price-to-income ratio). Sources: FHFA, Zillow, U.S. Census Bureau.
Prices and affordability
Typical home value
$215,732
Change in 1 year
−1.2%
Overvalued %
+10.3%
Show 7 more
Fair home value
$195,587
Change in 5 years
+11.6%
Zillow forecast, next 12 months
−0.1%
Home value to income
3.3×
Monthly mortgage payment (20% down)
$1,169
Income needed to afford it
$46,766
Property tax rate
0.97%
Rent and investing
Typical rent
$1,341
Typical rent for houses
$1,539
Price-to-rent ratio
13.4×
Show 3 more
HUD Fair Market Rent, 2 bedrooms
$1,301
Gross rental yield
7.46%
Cap rate (estimate)
4.85%
Market activity
Listings vs a year ago
+9.4%
Days on market
75
Listings with a price cut
23.9%
Show 3 more
Homes for sale
3,730
Pending sales per 100 listings
25
Asking price per sq ft
$142
People and jobs
Median household income
$65,005
Population change (1 year)
−0.6%
Unemployment rate
7.2%
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Population
910,226
Income adjusted for cost of living
$70,504
Net moves in (IRS)
−9,230
Cost of living (US = 100)
92.2
Schools, risk and environment
School rating (1 to 10)
4.2
FEMA hazard risk score (0 to 100)
99.4
Unhealthy air days a year
5
Show 4 more
Flood risk score
98.7
Wildfire risk score
71.1
Walkability (1 to 20)
10.4
Road, rail and air noise
53 dB
Questions people ask
Is Shelby County, TN overvalued?
Home prices in Shelby County, TN are well above what local incomes have historically supported: fair value is about $195,587, so the area is 10.3% overvalued.
Is Shelby County, TN a buyer's or seller's market?
Shelby County, TN is a buyer's market: homes take about 75 days to sell, listings are up 9% from a year ago, 24% of listings have had a price cut.
Are home prices going down in Shelby County, TN?
Home values in Shelby County, TN are down 1.2% over the last year. Zillow's forecast for the next 12 months is −0.1%.
How much do you need to earn to buy a home in Shelby County, TN?
A household needs about $46,766 a year to afford the typical home in Shelby County, TN at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $65,005.