Memphis, Tennessee, January 23, 2026
The Memphis metro area is experiencing notable changes in home values and dynamics, driven by communities like Rossville, Southaven, Cordova, and others. Factors such as proximity to Memphis, infrastructure developments, and shifting demographics are contributing to increased demand for housing. While some areas witness significant price growth, others face challenges, highlighting the complexity of the housing market in the region. This article explores the diverse trends affecting these neighborhoods and their unique situations within the broader market landscape.
Exploring Housing Market Trends in the Memphis Metro Area
The Memphis metro area, encompassing various communities within and around Memphis, Tennessee, has shown a remarkable transformation in home values and community dynamics over the past decade. With neighborhoods such as Rossville, Southaven, Cordova, Parkway Village, Needmore, and Mason leading the charge, this region is witnessing an evolution that manifests in heightened demand for housing and increased interest from homebuyers.
This growth is spurred by various factors such as proximity to Memphis, infrastructure improvements, and changing demographics. As cities and towns adapt to the increasing influx of new residents seeking both proximity to urban amenities and more spacious living conditions, there’s an evident entrepreneurial spirit at play. This environment underscores the potential for further economic growth in Memphis and its neighboring communities.
Rossville, Tennessee
Rossville, Tennessee, a town in Fayette County just outside the Memphis suburbs, has experienced significant growth in home prices over the past decade. This trend is attributed to its proximity to Memphis, offering larger lots and newer constructions that appeal to homebuyers seeking suburban living without straying too far from city amenities. Infrastructure improvements and residential developments have further contributed to Rossville’s rapid transformation from a rural to a suburban community. Home values have climbed sharply in 2021 and 2022, maintaining high levels and indicating continued market momentum.
Southaven, Mississippi
Southaven, Mississippi, located just south of Memphis, has been one of the fastest-growing cities in the southeastern United States. The construction of Interstate 55 through Southaven in the 1970s facilitated easier access to Memphis and other major cities, promoting growth. Over a 20-year period, Southaven doubled its land area and tripled its population, reflecting its rapid expansion and increasing appeal to residents seeking proximity to Memphis.
Cordova, Tennessee
Cordova, Tennessee, a neighborhood in Memphis, has evolved from a quiet country hamlet to one of the city’s fastest-growing areas. The late 1990s saw explosive retail growth with the opening of the Wolfchase Galleria shopping mall, which was the largest retail center in unincorporated Shelby County at the time. Today, Cordova boasts over 1,226 businesses employing more than 19,400 people, indicating its significant economic development and increasing attractiveness to residents and businesses alike.
Parkway Village, Memphis
Parkway Village, a predominantly African-American community in southeast Memphis, has experienced growth and development over the years. Initially developed in 1956 for “gracious suburban living,” Parkway Village has seen changes in its demographic and economic landscape. As of 2025, the average listed home value in Parkway Village is $135,800, which is lower than the Memphis metro area average of $219,900, reflecting its unique position within the broader housing market.
Needmore, Tennessee
Needmore, Tennessee, an unincorporated community in Montgomery County, has become one of the fastest-growing areas in the city. Characterized by its vast neighborhoods and prime real estate, Needmore offers relatively low-priced family homes in a low-crime environment. The neighborhood has experienced significant growth, with an estimated population of around 10,000 residents, indicating its increasing appeal to families and individuals seeking affordable housing options.
Mason, Tennessee
Mason, Tennessee, a small town in Tipton County, has demonstrated exceptional return on investment potential with a 153% appreciation in home values from 2016 to 2025. This translates to an impressive 10.9% compound annual growth rate. The accelerating price growth pattern since 2019 suggests continued market momentum and discovery. Strategically positioned between Memphis and the Blue Oval City Ford plant development, Mason benefits from multiple demand drivers that support both rental yields exceeding 8% and continued appreciation upside.
Overall Trends in the Memphis Metro Area
Overall, the Memphis metro area has experienced varied trends in home prices. While some areas have seen significant growth, others have faced challenges. For instance, Shelby County, which includes Memphis, saw a year-over-year decline of 1.4% in home values. Similarly, Crittenden County in Arkansas and Tipton County in Tennessee experienced declines of 2.1% and 0.5%, respectively. These trends highlight the dynamic nature of the housing market within the Memphis metro area, with certain regions experiencing growth and others facing challenges.
Conclusion
The Memphis metro area encompasses a diverse range of communities, each with unique characteristics contributing to the region’s overall housing market dynamics. While some areas have experienced significant growth in home prices, others have faced challenges, reflecting the complex and evolving nature of the housing market in this region.
Frequently Asked Questions (FAQ)
What factors have contributed to the rapid growth in home prices in Rossville, Tennessee?
The growth in Rossville’s home prices is attributed to its proximity to Memphis, offering larger lots and newer constructions that appeal to homebuyers seeking suburban living without straying too far from city amenities. Infrastructure improvements and residential developments have further contributed to Rossville’s rapid transformation from a rural to a suburban community.
How has the construction of Interstate 55 impacted Southaven, Mississippi?
The construction of Interstate 55 through Southaven in the 1970s facilitated easier access to Memphis and other major cities, promoting growth. Over a 20-year period, Southaven doubled its land area and tripled its population, reflecting its rapid expansion and increasing appeal to residents seeking proximity to Memphis.
What is the significance of Cordova’s retail growth in the late 1990s?
The late 1990s saw explosive retail growth in Cordova with the opening of the Wolfchase Galleria shopping mall, which was the largest retail center in unincorporated Shelby County at the time. This development significantly contributed to Cordova’s economic growth and its transformation into one of Memphis’s fastest-growing neighborhoods.
What is the average listed home value in Parkway Village, Memphis?
As of 2025, the average listed home value in Parkway Village is $135,800, which is lower than the Memphis metro area average of $219,900, reflecting its unique position within the broader housing market.
What is the population of Needmore, Tennessee?
Needmore, Tennessee, has experienced significant growth, with an estimated population of around 10,000 residents, indicating its increasing appeal to families and individuals seeking affordable housing options.
| City | Key Features |
|---|---|
| Rossville, Tennessee | Significant home price growth due to proximity to Memphis, offering larger lots and newer constructions; infrastructure improvements and residential developments contributing to suburban transformation. |
| Southaven, Mississippi | Dramatic population growth and expansion owing to the construction of Interstate 55, providing easier access to Memphis. |
| Cordova, Tennessee | Strong retail development with the presence of Wolfchase Galleria, indicating economic growth and an increasing number of businesses. |
| Parkway Village, Memphis | Average home value significantly lower than the Metro average, reflecting its unique market position. |
| Needmore, Tennessee | Affordable housing options with a population of approximately 10,000, appealing to families and newcomers. |
| Mason, Tennessee | Exceptional home value appreciation driven by strategic location and development potential. |
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Author: STAFF HERE MEMPHIS WRITER
The MEMPHIS STAFF WRITER represents the experienced team at HEREMemphis.com, your go-to source for actionable local news and information in Memphis, Shelby County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as Beale Street Music Festival, Elvis Week, and Memphis in May International Festival. Our coverage extends to key organizations like the Greater Memphis Chamber and the Memphis Convention & Visitors Bureau, plus leading businesses in logistics, healthcare, and music that power the local economy such as FedEx, St. Jude Children's Research Hospital, and AutoZone. As part of the broader HERE network, including HEREBristol.com, HEREChattanooga.com, HEREKnoxville.com, and HERENashville.com, we provide comprehensive, credible insights into Tennessee's dynamic landscape.
