Memphis FHA Loan Rates, Closing Costs & Stats

MEMPHIS, TN-MS-AR

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    • FHA loans are mortgages created in the 1930's to help insulate lenders from credit risks and help promote home ownership. The Federal Housing Administration (hence, FHA) allows for lower downpayments and credit scores-- making these loans much more accessible than traditional mortgages.

    FHA loans typically need just a 3.5% downpayment with credit scores of 580 or better. For credit scores between 500-579, the downpayment needs to be at least 10%.

    While FHA loans make home ownership much more accessible to first-time homebuyers, they do require PMI (purchase money insurance)-- an additional insurance premium that is paid to the FHA to help cover defaults.

    For additional requirements as defined by the FHA, click here.

    Memphis's 183 lenders originated 4,794 FHA loans during 2024. The total origination value was $1,237,150,000, with an average FHA loan value of $258,062.

    Memphis FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Memphis averaged 6.12% for the week of 2025-04-04, compared to the national average (all FHA variants) of 6.259% for the same period.

    Memphis's average FHA mortgage closing costs are $8,084.

    The average rate for the prior week (2025-03-28) was 6.22% and one month ago for the week of 2025-02-28, the average rate was 6.3%.

    The average rate one year ago was 6.72%.

    For refis of the same type during the week of 2025-04-04, the average rate was 6.14%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    Memphis FHA Loan Lenders by Rates & Fees

    The below table looks at the average fees/closing costs and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Memphis level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    QUICKEN LOANS, LLC 357 6.26% $11,222
    COMMUNITY MORTGAGE CORPORATION 342 6.21% $10,890
    UNITED WHOLESALE MORTGAGE, LLC 230 6.04% $13,348
    DHI MORTGAGE COMPANY, LTD. 195 5.10% $7,412
    CROSSCOUNTRY MORTGAGE, LLC 160 6.48% $12,547
    GUARANTEED RATE, INC. 155 6.27% $12,064
    FREEDOM MORTGAGE CORPORATION 133 6.36% $12,885
    Trustmark National Bank 126 6.22% $10,160
    Eagle Bank and Trust Company 119 6.33% $9,140
    Patriot Bank 118 5.94% $9,409
    Nations Lending Corporation 117 6.54% $8,501
    MORTGAGE INVESTORS GROUP, INC. 95 6.26% $11,652
    PENNYMAC LOAN SERVICES, LLC 92 6.00% $11,029
    BROKER SOLUTIONS, INC. 86 6.62% $11,965
    BARTLETT MORTGAGE, INC. 85 6.20% $10,744
    STOCKTON MORTGAGE CORPORATION 84 6.39% $12,267
    BancorpSouth 83 6.09% $10,239
    Pinnacle Bank 73 6.09% $10,534
    LOANDEPOT.COM, LLC 71 6.31% $10,826
    Equity Prime Mortgage LLC 65 6.84% $12,714
    Evolve Bank & Trust 58 6.24% $9,863
    SOUTHWEST FUNDING, LP 50 6.72% $13,604
    Regions Bank 50 6.35% $9,912
    T2 FINANCIAL LLC 49 6.37% $13,993
    Bank of England 48 6.12% $12,046
    Renasant Bank 47 6.35% $9,573
    Paramount Residential Mortgage Group, Inc. 46 6.40% $11,764
    FIRST COMMUNITY MORTGAGE, INC. 42 6.38% $10,174
    EVERETT FINANCIAL, INC. 41 6.81% $11,757
    SWBC MORTGAGE CORPORATION 41 6.38% $7,999
    PRIMELENDING, A PLAINSCAPITAL COMPANY 40 6.59% $10,224
    MUTUAL OF OMAHA MORTGAGE, INC. 35 6.59% $11,847
    Carrington Mortgage Services, LLC 35 6.16% $11,461
    CARDINAL FINANCIAL 34 6.16% $13,995
    Orion Federal Credit Union 34 5.89% $8,433
    Flagstar Bank, FSB 33 6.17% $10,341
    CMG MORTGAGE, INC. 31 6.52% $12,909
    ACOPIA, LLC 30 5.94% $12,083
    Leaders Credit Union 27 6.46% $7,219
    AMERICAN FINANCIAL NETWORK, INC. 26 6.71% $12,883
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 26 6.21% $9,472
    Wolfe Financial, Inc 25 6.63% $13,209
    PLANET HOME LENDING, LLC 23 6.17% $7,693
    Independent Bank 21 6.67% $10,461
    FirstBank 20 6.61% $9,631
    Mr. Cooper ( Nationstar Mortgage ) 19 6.41% $11,705
    LAKEVIEW LOAN SERVICING, LLC 18 6.33% $8,359
    AMERISAVE MORTGAGE CORPORATION 18 6.17% $14,133
    NEWREZ LLC 17 6.17% $10,336
    VILLAGE CAPITAL MORTGAGE 17 6.28% $7,942
    MORTGAGE FINANCIAL SERVICES, LLC 16 6.69% $11,395
    RELIANCE FIRST CAPITAL, LLC 16 6.56% $12,693
    UNION HOME MORTGAGE CORP. 15 5.77% $11,009
    LOANPAL, LLC 15 5.59% $12,081
    Simmons Bank 15 6.36% $9,919
    Cornerstone First Mortgage, Inc 14 6.49% $9,793
    HOMESIDE FINANCIAL, LLC 13 6.81% $10,220
    MICHIGAN MUTUAL, INC. 13 6.24% $13,501
    AmeriHome Mortgage Company, LLC 13 6.59% $7,009
    SUN WEST MORTGAGE COMPANY, INC. 13 6.05% $15,108
    Community Bank of Mississippi 12 6.06% $9,083
    AMERICAN FINANCIAL RESOURCES, INC. 12 6.66% $10,208
    Mortgage Research Center, LLC 11 6.35% $10,550
    PREMIER MORTGAGE RESOURCES, L.L.C. 11 6.24% $13,165
    EMM LOANS LLC 11 6.24% $12,743
    FBC MORTGAGE, LLC 11 5.26% $8,037
    BankPlus 10 6.24% $7,367
    Prosperity Home Mortgage, LLC 9 6.54% $10,989
    Hometown Equity Mortgage, LLC 9 6.26% $10,599
    TOWNE MORTGAGE COMPANY 8 6.44% $11,582
    GUILD MORTGAGE COMPANY 8 6.80% $12,612
    ENDEAVOR CAPITAL, LLC. 6 6.27% $9,181
    MILEND, INC. 6 6.21% $16,830
    MOVEMENT MORTGAGE, LLC 6 6.54% $13,290
    Bank of America 6 6.02% $8,997
    PHH Mortgage Corporation 6 5.91% $10,519
    TruHome Solutions, LLC 6 6.15% $11,498
    Ixonia Bank 6 6.52% $9,960
    PREMIA MORTGAGE, LLC 6 6.06% $6,831
    CHURCHILL MORTGAGE CORPORATION 5 6.93% $13,365
    PLAZA HOME MORTGAGE, INC. 5 5.92% $16,712
    ROYAL UNITED MORTGAGE LLC 5 6.60% $11,697
    Barrington Bank & Trust Company, N.A. 5 6.65% $11,234
    MID AMERICA MORTGAGE, INC. 5 7.38% $9,557
    HOMEBRIDGE FINANCIAL SERVICES, INC. 5 6.38% $6,083
    AMERICAN FINANCING CORPORATION 5 5.83% $16,345
    ZILLOW HOME LOANS, LLC 5 6.23% $12,789
    PRIMARY RESIDENTIAL MORTGAGE, INC. 4 6.88% $12,857
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 4 6.75% $8,126
    Wells Fargo Bank 4 6.22% $10,699
    First Horizon Bank 4 6.34% $8,843
    The Federal Savings Bank 4 6.28% $13,379
    Lakeview Community Capital, LLC 4 6.34% $8,487
    SOUTHPOINT FINANCIAL SERVICES, INC. 4 6.16% $8,403
    GMFS LLC 4 6.53% $10,118
    Residential Acceptance Corporation 4 7.28% $14,666
    M&T Bank 4 6.06% $9,306
    Plains Commerce Bank 4 6.00% $16,278
    Century Mortgage Company DBA Century Lending Company 3 6.33% $10,525
    ENVOY MORTGAGE, LTD 3 6.00% $11,047
    Financial Federal Bank 3 5.58% $9,556
    FIRST ALLIANCE HOME MORTGAGE, LLC 3 6.33% $13,617
    MORTGAGE SOLUTIONS OF COLORADO, LLC 3 6.67% $13,285
    Assurance Financial Group, L.L.C. 3 7.08% $12,892
    SUMMIT FUNDING, INC. 3 6.42% $10,870
    NexBank 3 6.38% $8,420
    BECKAM FUNDING CORP. 3 7.42% $12,019
    JPMorgan Chase Bank 3 6.46% $10,605
    Truist 3 6.12% $10,399
    RUOFF MORTGAGE COMPANY, INC. 3 6.58% $8,062
    Magnolia Bank 3 6.50% $7,925
    SECURITYNATIONAL MORTGAGE COMPANY 3 7.13% $15,502
    NORWICH COMMERCIAL GROUP, INC. 3 5.92% $5,897
    MORTGAGE ACCESS CORP. 2 6.19% $16,177
    FLAT BRANCH MORTGAGE, INC. 2 6.56% $9,616
    GEO-CORP, INC. 2 6.93% $13,405
    NBKC BANK 2 6.00% $10,319
    CREDIT UNION MORTGAGE ASSOCIATION, INC. 2 6.13% $11,890
    OCMBC, INC. 2 7.25% $14,541
    ONY GLO, INC. 2 6.44% $9,336
    Citizens Bank 2 6.50% $12,064
    POLARIS HOME FUNDING CORP. 2 6.38% $10,210
    SENTE MORTGAGE, INC. 2 7.13% $12,143
    AXIA FINANCIAL, LLC 2 6.69% $11,092
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 6.38% $6,919
    The Huntington National Bank 2 6.31% $7,372
    TOP FLITE FINANCIAL, INC. 2 6.69% $22,484
    American Mortgage & Equity Consultants, Inc. 2 6.50% $13,594
    U.S. Bank 2 6.56% $7,812
    NEW DAY FINANCIAL, LLC 1 7.13% $5,526
    NATIONWIDE MORTGAGE BANKERS, INC. 1 5.99% $12,721
    DAS Acquisition Company, LLC 1 7.63% $14,124
    NATIONS DIRECT MORTGAGE, LLC 1 6.25% $7,351
    GENEVA FINANCIAL, LLC 1 6.63% $7,924
    MY MORTGAGE, INC. 1 6.99% $9,260
    CANOPY MORTGAGE, LLC 1 7.63% $6,171
    MYCUMORTGAGE, LLC 1 6.75% $8,587
    CALCON MUTUAL MORTGAGE LLC 1 6.25% $14,138
    BETTER MORTGAGE CORPORATION 1 6.63% $7,166
    Bell Bank 1 6.25% $10,213
    RANLIFE, INC. 1 5.75% $10,760
    REDSTONE Federal Credit Union 1 5.75% $12,987
    DATA MORTGAGE, INC. 1 5.75% $11,081
    Elements Financial Federal Credit Union 1 6.50% $7,799
    EMBRACE HOME LOANS, INC. 1 5.75% $12,088
    Mortgage Assurance Inc. 1 6.75% $11,359
    MLB RESIDENTIAL LENDING, LLC 1 7.75% $6,386
    FIDELITY BANK 1 6.25% $16,529
    SeaTrust Mortgage Company 1 6.13% $11,348
    Fifth Third Bank 1 5.75% $10,004
    VERITAS FUNDING, LLC 1 6.13% $19,381
    Sierra Pacific Mortgage Company, Inc. 1 6.63% $5,169
    ALLIED MORTGAGE GROUP, INC. 1 6.75% $8,873
    LEADERONE FINANCIAL CORPORATION 1 7.75% $12,826
    First Community Bank 1 6.63% $6,872
    SOUTHWEST STAGE FUNDING, LLC 1 6.00% $8,341
    Arvest Bank 1 7.00% $8,735
    SUCCESS MORTGAGE PARTNERS, INC. 1 5.99% $15,126
    LADERA LENDING, INC. 1 5.75% $14,431
    V.I.P. MORTGAGE, INC. 1 6.75% $14,271
    ARC HOME LLC 1 7.13% $7,530
    Ameris Bank 1 5.63% $11,073
    The Citizens National Bank of Meridian 1 6.50% $9,226
    KEESLER 1 5.50% $9,234
    GERSHMAN INVESTMENT CORP. 1 5.50% $14,269
    Wilson Bank And Trust 1 6.75% $9,081
    TOTAL MORTGAGE SERVICES, LLC 1 5.75% $14,317
    INTERCAP LENDING INC. 1 5.50% $19,227
    INFINITY EQUITY GROUP, INC. 1 6.13% $10,497
    Gulf Coast Bank and Trust Company 1 7.25% $9,623
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 6.63% $12,328
    AHL FUNDING 1 7.63% $11,378
    Notre Dame Federal Credit Union Corporation 1 6.25% $7,198
    United Community Bank 1 5.75% $11,143
    UNITED MORTGAGE CORP 1 7.00% $14,175
    COMMUNITY MORTGAGE, LLC 1 6.13% $10,501
    PANORAMA MORTGAGE GROUP, LLC 1 7.25% $13,072
    City Lending Inc. 1 7.75% $11,851
    Gateway First Bank 1 7.13% $9,169
    CIS Financial Services, Inc. 1 6.50% $9,071
    PENTAGON FEDERAL CREDIT UNION 1 6.13% $14,095
    NFM, INC. 1 7.50% $13,361
    PILGRIM MORTGAGE LLC 1 5.88% $8,819

    The top Memphis FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 357 FHA loans originated. Their average total fees are $11,222, which is $332 higher than the next largest lender, COMMUNITY MORTGAGE CORPORATION.

    The lowest fee Memphis FHA lenders (with over 10 loans originated) are AmeriHome Mortgage Company, LLC ($7,009), Leaders Credit Union ($7,219), BankPlus ($7,367), DHI MORTGAGE COMPANY, LTD. ($7,412) and PLANET HOME LENDING, LLC ($7,693).

    The lowest rate Memphis FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.10%), FBC MORTGAGE, LLC (5.26%), LOANPAL, LLC (5.59%), UNION HOME MORTGAGE CORP. (5.77%) and Orion Federal Credit Union (5.89%).

    Memphis FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    MEMPHIS, TN-MS-AR CRITTENDEN 2022 $420,680 $538,650 $651,050 $809,150
    MEMPHIS, TN-MS-AR DESOTO 2022 $420,680 $538,650 $651,050 $809,150
    MEMPHIS, TN-MS-AR MARSHALL 2022 $420,680 $538,650 $651,050 $809,150
    MEMPHIS, TN-MS-AR TATE 2022 $420,680 $538,650 $651,050 $809,150
    MEMPHIS, TN-MS-AR TUNICA 2022 $420,680 $538,650 $651,050 $809,150
    MEMPHIS, TN-MS-AR FAYETTE 2022 $420,680 $538,650 $651,050 $809,150
    MEMPHIS, TN-MS-AR SHELBY 2022 $420,680 $538,650 $651,050 $809,150
    MEMPHIS, TN-MS-AR TIPTON 2022 $420,680 $538,650 $651,050 $809,150
    MEMPHIS, TN-MS-AR CRITTENDEN 2023 $472,030 $604,400 $730,525 $907,900
    MEMPHIS, TN-MS-AR DESOTO 2023 $472,030 $604,400 $730,525 $907,900
    MEMPHIS, TN-MS-AR MARSHALL 2023 $472,030 $604,400 $730,525 $907,900
    MEMPHIS, TN-MS-AR TATE 2023 $472,030 $604,400 $730,525 $907,900
    MEMPHIS, TN-MS-AR TUNICA 2023 $472,030 $604,400 $730,525 $907,900
    MEMPHIS, TN-MS-AR FAYETTE 2023 $472,030 $604,400 $730,525 $907,900
    MEMPHIS, TN-MS-AR SHELBY 2023 $472,030 $604,400 $730,525 $907,900
    MEMPHIS, TN-MS-AR TIPTON 2023 $472,030 $604,400 $730,525 $907,900

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Memphis (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
    2018-01-01 $186,000 (9.5%) $245,469 (5.5%) 0.69 3,833
    2018-02-01 $183,888 (8.2%) $242,438 (4.8%) 0.67 3,817
    2018-03-01 $185,000 (6.7%) $247,771 (5.4%) 0.65 3,822
    2018-04-01 $191,975 (6.7%) $254,825 (3.5%) 0.65 3,224
    2018-05-01 $199,925 (8.1%) $264,572 (5.0%) 0.67 3,183
    2018-06-01 $210,000 (8.3%) $266,962 (4.9%) 0.70 3,436
    2018-07-01 $212,450 (8.1%) $265,749 (4.3%) 0.71 3,781
    2018-08-01 $212,163 (8.8%) $264,381 (4.7%) 0.71 3,786
    2018-09-01 $210,000 (6.5%) $263,674 (4.0%) 0.71 3,788
    2018-10-01 $214,950 (11.4%) $266,470 (6.9%) 0.73 3,789
    2018-11-01 $209,988 (10.6%) $261,545 (5.0%) 0.71 3,754
    2018-12-01 $209,900 (13.5%) $256,048 (3.4%) 0.72 3,490
    2019-01-01 $202,975 (9.1%) $253,358 (3.2%) 0.70 3,161
    2019-02-01 $205,838 (11.9%) $256,976 (6.0%) 0.70 3,055
    2019-03-01 $213,043 (15.2%) $268,071 (8.2%) 0.70 2,990
    2019-04-01 $220,400 (14.8%) $279,675 (9.8%) 0.70 3,008
    2019-05-01 $229,350 (14.7%) $284,955 (7.7%) 0.72 3,019
    2019-06-01 $229,900 (9.5%) $288,083 (7.9%) 0.72 3,122
    2019-07-01 $229,950 (8.2%) $289,103 (8.8%) 0.72 3,264
    2019-08-01 $232,082 (9.4%) $289,165 (9.4%) 0.73 3,246
    2019-09-01 $230,855 (9.9%) $289,920 (10.0%) 0.74 3,211
    2019-10-01 $230,086 (7.0%) $291,221 (9.3%) 0.74 3,181
    2019-11-01 $231,565 (10.3%) $294,108 (12.5%) 0.76 3,112
    2019-12-01 $232,000 (10.5%) $291,532 (13.9%) 0.77 2,958
    2020-01-01 $227,534 (12.1%) $289,112 (14.1%) 0.76 2,765
    2020-02-01 $229,900 (11.7%) $294,520 (14.6%) 0.75 2,532
    2020-03-01 $240,997 (13.1%) $305,373 (13.9%) 0.76 2,413
    2020-04-01 $247,950 (12.5%) $311,696 (11.5%) 0.78 2,416
    2020-05-01 $249,900 (9.0%) $318,898 (11.9%) 0.76 2,239
    2020-06-01 $256,813 (11.7%) $329,553 (14.4%) 0.76 2,006
    2020-07-01 $259,923 (13.0%) $340,769 (17.9%) 0.75 1,827
    2020-08-01 $263,900 (13.7%) $338,070 (16.9%) 0.76 1,737
    2020-09-01 $259,900 (12.6%) $335,838 (15.8%) 0.74 1,628
    2020-10-01 $259,900 (13.0%) $338,445 (16.2%) 0.74 1,627
    2020-11-01 $257,450 (11.2%) $330,513 (12.4%) 0.75 1,563
    2020-12-01 $249,495 (7.5%) $319,184 (9.5%) 0.74 1,445
    2021-01-01 $240,000 (5.5%) $315,868 (9.3%) 0.72 1,272
    2021-02-01 $233,995 (1.8%) $319,162 (8.4%) 0.68 1,117
    2021-03-01 $237,250 (-1.6%) $327,646 (7.3%) 0.67 1,047
    2021-04-01 $239,750 (-3.3%) $329,374 (5.7%) 0.65 1,033
    2021-05-01 $239,900 (-4.0%) $324,225 (1.7%) 0.64 1,078
    2021-06-01 $240,000 (-6.6%) $320,885 (-2.6%) 0.63 1,201
    2021-07-01 $245,000 (-5.7%) $319,754 (-6.2%) 0.65 1,342
    2021-08-01 $249,900 (-5.3%) $324,606 (-4.0%) 0.67 1,450
    2021-09-01 $248,200 (-4.5%) $321,860 (-4.2%) 0.66 1,417
    2021-10-01 $265,000 (2.0%) $338,287 (-0.1%) 0.71 1,336
    2021-11-01 $256,875 (-0.2%) $337,405 (2.1%) 0.69 1,286
    2021-12-01 $242,500 (-2.8%) $326,509 (2.3%) 0.66 1,239
    2022-01-01 $219,900 (-8.4%) $323,241 (2.3%) 0.59 1,092
    2022-02-01 $225,000 (-3.8%) $330,575 (3.6%) 0.59 966
    2022-03-01 $224,950 (-5.2%) $325,740 (-0.6%) 0.56 1,062
    2022-04-01 $246,500 (2.8%) $340,495 (3.4%) 0.59 1,156
    2022-05-01 $292,500 (21.9%) $366,244 (13.0%) 0.67 1,312
    2022-06-01 $305,000 (27.1%) $376,023 (17.2%) 0.68 1,590
    2022-07-01 $319,900 (30.6%) $375,743 (17.5%) 0.72 2,052
    2022-08-01 $312,629 (25.1%) $369,716 (13.9%) 0.72 2,214
    2022-09-01 $316,100 (27.4%) $370,436 (15.1%) 0.74 2,337
    2022-10-01 $319,900 (20.7%) $367,170 (8.5%) 0.75 2,592
    2022-11-01 $324,950 (26.5%) $368,782 (9.3%) 0.78 2,779
    2022-12-01 $325,000 (34.0%) $370,398 (13.4%) 0.80 2,668
    2023-01-01 $324,950 (47.8%) $364,280 (12.7%) 0.80 2,416
    2023-02-01 $323,048 (43.6%) $361,857 (9.5%) 0.78 2,274
    2023-03-01 $318,995 (41.8%) $355,549 (9.2%) 0.75 2,299
    2023-04-01 $324,900 (31.8%) $364,844 (7.2%) 0.76 2,340
    2023-05-01 $325,000 (11.1%) $369,099 (0.8%) 0.74 2,411
    2023-06-01 $326,995 (7.2%) $375,003 (-0.3%) 0.73 2,538
    2023-07-01 $325,000 (1.6%) $369,187 (-1.7%) 0.74 2,741
    2023-08-01 $320,000 (2.4%) $367,659 (-0.6%) 0.73 2,899
    2023-09-01 $310,000 (-1.9%) $360,254 (-2.8%) 0.72 3,176
    2023-10-01 $317,995 (-0.6%) $366,047 (-0.3%) 0.75 3,386
    2023-11-01 $319,900 (-1.6%) $368,596 (-0.1%) 0.76 3,480
    2023-12-01 $317,990 (-2.2%) $366,669 (-1.0%) 0.78 3,429
    2024-01-01 $320,225 (-1.5%) $369,306 (1.4%) 0.78 3,114
    2024-02-01 $324,000 (0.3%) $373,526 (3.2%) 0.78 3,081
    2024-03-01 $325,990 (2.2%) $376,715 (6.0%) 0.77 3,181
    2024-04-01 $339,450 (4.5%) $390,523 (7.0%) 0.79 3,261
    2024-05-01 $348,400 (7.2%) $403,885 (9.4%) 0.79 3,514
    2024-06-01 $344,900 (5.5%) $396,477 (5.7%) 0.78 3,886
    2024-07-01 $341,495 (5.1%) $395,804 (7.2%) 0.78 4,079
    2024-08-01 $339,000 (5.9%) $393,627 (7.1%) 0.79 4,193
    2024-09-01 $335,998 (8.4%) $390,303 (8.3%) 0.79 4,332
    2024-10-01 $334,500 (5.2%) $389,298 (6.4%) 0.79 4,421
    2024-11-01 $333,530 (4.3%) $388,067 (5.3%) 0.80 4,472
    2024-12-01 $329,900 (3.8%) $386,783 (5.5%) 0.82 4,064
    2025-01-01 $329,500 (2.9%) $385,625 (4.4%) 0.82 3,833
    2025-02-01 $328,050 (1.3%) $378,805 (1.4%) 0.80 3,977
    2025-03-01 $334,000 (2.5%) $383,625 (1.8%) 0.00 4,076
    Memphis's median listing price for 2025-03-01 was $334,000, a difference of $8,010 (2.5%) versus the prior year and $5,950 versus the prior month.

    Memphis's median listing price comes in at 0% of the national average.

    Memphis's average listing price for 2025-03-01 was $383,625, a difference of $6,910 (1.8%) versus the prior year and $4,820 versus the prior month.

    For the 2025-03-01 period, Memphis had 4,076 MLS listings, a difference of 99 listings (2%) versus the prior month and 895 listings (28%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Memphis (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 76 days 2,097 sqft
    2018-02-01 69 days 2,079 sqft
    2018-03-01 50 days 2,057 sqft
    2018-04-01 51 days 2,094 sqft
    2018-05-01 50 days 2,103 sqft
    2018-06-01 47 days 2,124 sqft
    2018-07-01 48 days 2,116 sqft
    2018-08-01 54 days 2,166 sqft
    2018-09-01 58 days 2,183 sqft
    2018-10-01 59 days 2,206 sqft
    2018-11-01 62 days 2,210 sqft
    2018-12-01 67 days 2,200 sqft
    2019-01-01 75 days 2,181 sqft
    2019-02-01 70 days 2,183 sqft
    2019-03-01 60 days 2,214 sqft
    2019-04-01 51 days 2,240 sqft
    2019-05-01 48 days 2,250 sqft
    2019-06-01 51 days 2,217 sqft
    2019-07-01 51 days 2,174 sqft
    2019-08-01 53 days 2,192 sqft
    2019-09-01 54 days 2,197 sqft
    2019-10-01 56 days 2,211 sqft
    2019-11-01 59 days 2,248 sqft
    2019-12-01 67 days 2,232 sqft
    2020-01-01 75 days 2,213 sqft
    2020-02-01 73 days 2,232 sqft
    2020-03-01 55 days 2,299 sqft
    2020-04-01 52 days 2,259 sqft
    2020-05-01 57 days 2,265 sqft
    2020-06-01 52 days 2,274 sqft
    2020-07-01 47 days 2,260 sqft
    2020-08-01 45 days 2,375 sqft
    2020-09-01 44 days 2,336 sqft
    2020-10-01 44 days 2,295 sqft
    2020-11-01 47 days 2,349 sqft
    2020-12-01 52 days 2,199 sqft
    2021-01-01 59 days 2,265 sqft
    2021-02-01 58 days 2,145 sqft
    2021-03-01 50 days 2,167 sqft
    2021-04-01 39 days 2,120 sqft
    2021-05-01 35 days 2,112 sqft
    2021-06-01 33 days 2,075 sqft
    2021-07-01 35 days 2,091 sqft
    2021-08-01 38 days 2,122 sqft
    2021-09-01 40 days 2,124 sqft
    2021-10-01 33 days 2,116 sqft
    2021-11-01 38 days 2,127 sqft
    2021-12-01 44 days 2,152 sqft
    2022-01-01 47 days 2,101 sqft
    2022-02-01 39 days 2,010 sqft
    2022-03-01 36 days 1,965 sqft
    2022-04-01 32 days 2,111 sqft
    2022-05-01 31 days 2,359 sqft
    2022-06-01 30 days 2,429 sqft
    2022-07-01 31 days 2,376 sqft
    2022-08-01 38 days 2,318 sqft
    2022-09-01 42 days 2,232 sqft
    2022-10-01 45 days 2,202 sqft
    2022-11-01 50 days 2,179 sqft
    2022-12-01 61 days 2,200 sqft
    2023-01-01 71 days 2,196 sqft
    2023-02-01 67 days 2,184 sqft
    2023-03-01 53 days 2,166 sqft
    2023-04-01 47 days 2,160 sqft
    2023-05-01 43 days 2,168 sqft
    2023-06-01 44 days 2,202 sqft
    2023-07-01 44 days 2,128 sqft
    2023-08-01 46 days 2,112 sqft
    2023-09-01 46 days 2,050 sqft
    2023-10-01 50 days 2,084 sqft
    2023-11-01 56 days 2,140 sqft
    2023-12-01 63 days 2,156 sqft
    2024-01-01 73 days 2,167 sqft
    2024-02-01 68 days 2,191 sqft
    2024-03-01 51 days 2,196 sqft
    2024-04-01 48 days 2,200 sqft
    2024-05-01 48 days 2,212 sqft
    2024-06-01 51 days 2,226 sqft
    2024-07-01 51 days 2,201 sqft
    2024-08-01 59 days 2,216 sqft
    2024-09-01 62 days 2,175 sqft
    2024-10-01 64 days 2,169 sqft
    2024-11-01 66 days 2,167 sqft
    2024-12-01 73 days 2,198 sqft
    2025-01-01 77 days 2,200 sqft
    2025-02-01 71 days 2,202 sqft
    2025-03-01 0 days 2,202 sqft
    Memphis's median listing age (time on market) for 2025-03-01 was 0 days. This is -100% shorter than the same period one year ago.

    Memphis's median square footage for active listings during the 2025-03-01 period was 2,202 sqft. One year prior, the average listing was 2,196 sqft.

    FHA Loan Requirements

  • Borrowers must have a steady employment history or worked for the same employer for the past two years.
  • Borrowers must have a valid Social Security number, lawful residency in the U.S. and be of legal age to sign a mortgage in your state.
  • Borrowers must pay a minimum down payment of 3.5 percent. The money may be gifted by a family member. (Traditional mortgages do not permit gifted down payments)
  • New FHA loans are only available for primary residence occupancy.
  • Borrowers must have a property appraisal from a FHA-approved appraiser.
  • Borrowers’ front-end ratio (mortgage payment plus HOA fees, property taxes, mortgage insurance, homeowners insurance) needs to be less than 31 percent of their gross income, typically. You may be able to get approved with as high a percentage as 40 percent. Your lender will be required to provide justification as to why they believe the mortgage presents an acceptable risk. The lender must include any compensating factors used for loan approval.
  • Borrowers’ debt to income ratio (mortgage plus all your monthly debt, i.e., credit card payment, car payment, student loans, etc.) needs to be less than 43 percent of their gross income, typically. You may be able to get approved with as high a percentage as 50 percent.
  • Borrowers must have a minimum credit score of 580 for maximum financing with a minimum down payment of 3.5 percent.
  • Borrowers must have a minimum credit score of 500-579 for maximum LTV of 90 percent with a minimum down payment of 10 percent.
  • Bborrowers must be two years out of bankruptcy and have re-established good credit. Exceptions can be made.
  • Typically borrowers must be three years out of foreclosure and have re-established good credit.
  • The purchased property must meet certain minimum standards at appraisal. If the home you are purchasing does not meet these standards and a seller will not agree to the required repairs, your only option is to pay for the required repairs at closing (to be held in escrow until the repairs are complete).