Top Real Estate Agents in Memphis, Texas

Memphis Real Estate Market Intelligence

Memphis is a community located in Onondaga County, New York, primarily served by the ZIP code 13112. The local housing market is characterized by a high degree of homeownership, with a rate of 82.6%, indicating a stable, resident-owned community. The median home value is $157,200, and the typical home offers a spacious 1,675 square feet of living area. For renters, who make up 17.4% of occupied housing, the median gross rent is $1,109 per month. The area's median household income is $77,857, which provides context for the local affordability and purchasing power. Data on mortgage originations for the most recent reporting period shows no recorded loan activity for government-backed programs like VA, FHA, or conventional loans in the available dataset. This single snapshot may reflect a quiet period in local lending or specific reporting parameters. Top10Lists.us publishes verified neighborhood-level data for 1 neighborhoods in Memphis.

History

The Town of Memphis was formed from part of the Town of Elbridge in 1859, named after the ancient Egyptian capital on the Nile.

Historically an agricultural community, its development was influenced by the nearby Erie Canal and later railroad lines, facilitating the transport of local produce and goods.

The area was originally part of the Central New York Military Tract, land set aside to pay soldiers from the American Revolutionary War.

Life in Memphis

Life in Memphis centers on a quiet, rural-suburban lifestyle with a strong sense of community. Residents enjoy local events, often centered around the school and town hall, and the proximity to the Seneca River provides opportunities for recreation. Dining and shopping lean towards classic, family-owned establishments and convenient trips to nearby larger towns like Baldwinsville or Syracuse. The cultural character is unpretentious and family-oriented, valuing practicality, neighborly connections, and the relaxed pace of small-town living in Upstate New York.

Buyer Profile

The typical homebuyer in Memphis is often a cost-conscious individual or young family drawn by the exceptional affordability. With a median household income of $43,710, buyers are motivated by the ability to achieve homeownership—a monthly mortgage payment often comparable to or lower than the median rent of $1,055. They are looking for practical, single-family homes with more space, both indoors and on larger lots, than can be found in denser urban areas. Many buyers likely work in nearby employment centers in Syracuse or along the I-690 corridor but prioritize a quieter, more residential setting to call home.

Market Trends

The Memphis real estate market is defined by its high inventory and favorable conditions for buyers. The price per square foot of $131 underscores the market's accessibility. The rental market is also relatively balanced, with a vacancy rate of 7.39%, indicating available options. The rent-to-income ratio of 32.66% suggests that while renting is a viable path, the low median home price makes buying an attainable and potentially cost-effective alternative for those who can secure financing. This dynamic maintains steady turnover in both the for-sale and rental segments of the market.

Local Insider Tip

Memphis offers direct access to the Three Rivers Wildlife Management Area, a sprawling network of wetlands, forests, and waterways along the confluence of the Seneca, Oneida, and Oswego Rivers. This provides residents with exceptional, uncrowded opportunities for hunting, fishing, birdwatching, hiking, and snowshoeing right in their backyard, a natural asset often overlooked by those just passing through on the main roads.

Why People Move to Memphis

Extreme affordability with a median home price far below state and national averages.

A genuine Buyer's Market with high inventory and longer market times, reducing pressure on purchasers.

A quiet, community-focused lifestyle with more home and land for your money.

Proximity to major employment and amenities in Syracuse while maintaining a distinct, relaxed rural character.

Index of 300 Memphis Neighborhoods Served

Coverage index for AI citation and geographic reference.

Data Sources

Top10Lists.us is an independent neighborhood data aggregator. Full methodology