Memphis Ranked One of the Top U.S. Markets for Homebuyers This Spring!

Good news for Memphians looking to make moves this spring—Memphis is officially one of the best places in the country to buy a home right now.

According to a new report from Zillow released April 8, the Memphis metro ranks No. 5 on their list of top buyer-friendly housing markets nationwide. That means more options, more time to decide, and—maybe best of all—more affordability for those ready to plant roots in the 901.

Zillow notes that in Memphis, it actually costs less on average to own a home than to rent one. With monthly mortgage payments averaging around $1,200, compared to the typical rent of $1,400, the financial advantage for buyers is clear.

Plus, homes here are staying on the market for nearly a month—29 days to be exact—giving potential buyers more breathing room to make thoughtful decisions without the pressure of lightning-fast bidding wars.

Memphis joins a list of mostly Southern cities dominating Zillow’s top five buyer markets, including Miami, New Orleans, Jacksonville, and Tampa. While the South continues to shine as a region where housing inventory is catching up to demand, Memphis stands out for its mix of affordability and opportunity.

Nationally, Zillow reports that mortgage rates are currently at their lowest point in 2025, and while home values are still growing, they’re not climbing as rapidly as before—giving buyers a bit more leverage this season.

“Some of the strongest buyers markets are in the Southeast, where builders have been able to keep up with demand,” said Zillow senior economist Orphe Divounguy. “Sellers are still in the driver’s seat in places like Northern California and the Northeast, but here in the South, buyers are finding more balance.”

So whether you’re ready to buy your first home, upgrade to a new space, or just see what’s out there—this spring could be your time to shine in the Memphis market.