What is the Difference Between Homes in Memphis and Nashville, Tennessee?

Dec 3, 2020

If you’re thinking that you might want to sell your home, you’re probably figuring out where you want to relocate. Tennessee has some truly incredible cities all across the state, but two of the most popular are Nashville and Memphis. If you already live in one of these places, maybe…

Written By Offer Hut

If you’re thinking that you might want to sell your home, you’re probably figuring out where you want to relocate. Tennessee has some truly incredible cities all across the state, but two of the most popular are Nashville and Memphis. If you already live in one of these places, maybe you’re considering moving to the other! Before you decide which city you might want to move to after you sell your house, read on to see the biggest differences between these two stunning cities.

 

 

Housing Prices

Considering what you might get if you decide to sell your home in Memphis? Zillow reports that the average home value of residences in Memphis sits at $105,596 as of late November/early December 2020. Over the last year, Memphis has seen an increase in home value by almost 13%, and they are expected to continue increasing by 8.8% over the next year.

In Nashville, it’s a much different story. The city has experienced a huge growth in population over the last few years and homes are selling for much more; the average home value in Nashville is $302,453, according to Zillow. This trend doesn’t seem to be going anywhere, as Nashville has seen home values increase by 8.2% over the last year, and expected growth for the next year is 8.1%. If you want to sell your home in Nashville, now might be a great time!

 

 

Demographics

Before you sell your home and move to one of these cities, you might also be curious about the types of people who live there. The U.S. Census reported that, as of July 2019, Memphis had an estimated population of 651,073 people. Most Memphis residents (64.2%) identify as Black or African American alone, while the next biggest segment (29.1%) identify as White alone. There is an average of 2.5 people per household, and the median household income is just over $39,100.

Nashville, on the other hand, has an estimated population of 670,280, according to the Census. Most Nashvillians identify as White alone (63.2%), followed by Black or African American alone (27.9%). The city of Nashville has an average of 2.38 people in each household, and the median household income is almost $56,000.

 

 

Things to Do Nearby

Both Memphis and Nashville are full of incredible sights. Memphis is known for its mouthwatering barbecue, important historical locations like the National Civil Rights Museum, and musical attractions like Beale Street and Graceland.

While Memphis focuses more on jazz, Nashville is definitely known for country music. It’s even home to the Country Music Hall of Fame! You can grab some famous Nashville hot chicken, catch a show at The Grand Ole Opry, or learn about the area’s history at The Parthenon in Centennial Park.

 

 

Have we convinced you that it’s time to sell your home and move to one of these beautiful locations? You can opt to put your home on the market or consider taking an offer from a cash buyer! Either way, we wish you luck in your journey!

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