Collierville, Tennessee Housing Market Prices
Collierville Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 39% below the Tennessee median$156,257
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Median rent 38% above the Tennessee median$1,644
Housing Market Overview
| Metric | Collierville | Tennessee Avg | US Average |
|---|---|---|---|
| Median Home Price | $156,257 | $255,786 | $248,835 |
| Price Trend (Annual %) | 19.0% | 9.9% | 7.5% |
| Median Gross Rent | $1,644 | $1,188 | $1,407 |
| Rent Trend (Annual %) | 4.6% | 5.4% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Collierville is about 39% lower than in Tennessee. Rent is about 38% higher than the Tennessee average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Collierville, up about 19.0% and 4.6% a year respectively. Home prices are changing faster.
Median rent in Collierville rose about 48.0% between 2015 and 2024, from $1,111 to $1,644. Over the same span, rent in Tennessee rose about 55.6%.
Affordability
On average, housing unit costs 1.1 yearly household incomes in Collierville.
Buying the median-priced home in Collierville costs roughly 7.9 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Collierville. The price-to-rent ratio in Tennessee is about 17.9.
| Metric | Collierville | Tennessee Avg | US Average |
|---|---|---|---|
| Median Home Price | $156,257 | $255,786 | $248,835 |
| Median Household Income | $138,388 | $69,901 | $80,455 |
| Price-to-Income Ratio | 1.1 | 3.7 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Collierville fell about 52.6%, while median household income rose about 25.7% between 2009 and 2025 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Collierville | Tennessee Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 74.2% | 60.1% | 58.5% |
| Rental Rate | 21.6% | 29.7% | 31.2% |
| Vacancy Rate | 4.2% | 10.2% | 10.2% |
| Median Tenure (years) | 13.0 | 14.0 | 15.0 |
| Median Year Moved In | 2013 | 2012 | 2011 |
Collierville has a homeownership rate of 74.2%, higher than the Tennessee average of 60.1%. Its housing vacancy rate is 4.2%, compared with 10.2% in Tennessee.
Housing Stock
| Metric | Collierville | Tennessee Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.79 people | 2.45 people | 2.53 people |
| Median Structure Built Year | 1998 | 1986 | 1978 |
| Median Number of Rooms | 7.6 | 5.7 | 5.5 |
The typical housing unit in Collierville was built around 1998. On average, 2.8 people live in a home with about 7.6 rooms, staying for about 13.0 years on average.
Collierville, TN Housing Compared With Nearby Cities
How Collierville, TN compares with the 1 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Collierville, TN | 52,351 | $156,257 #2/2 | $1,644 #2/2 | 77.4% #2/2 |
| Germantown, TN | 42,327 | $498,811 | $1,697 | 80.9% |
Frequently Asked Questions
Common questions about the housing market in Collierville, Tennessee.
What is the median home price in Collierville, Tennessee?
The median home price in Collierville, Tennessee is $156,257, lower than the Tennessee average of $255,786.
What is the average home price in Collierville, Tennessee?
The typical home price in Collierville, Tennessee, reported as the median sale price, is $156,257. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Collierville, Tennessee?
The median gross rent in Collierville, Tennessee is $1,644 per month, higher than the Tennessee average of $1,188.
What was the median gross rent in Collierville in 2020?
In 2020, the median gross rent in Collierville, Tennessee was $1,315 per month.
What is the price-to-rent ratio in Collierville, Tennessee?
The price-to-rent ratio in Collierville, Tennessee is about 7.9, meaning it would take roughly 7.9 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Collierville.
Are home prices or rent rising faster in Collierville, Tennessee?
Both home prices and rent are rising in Collierville, up about 19.0% and 4.6% a year respectively. Home prices are changing faster.
What is the homeownership rate in Collierville, Tennessee?
74.2% of households in Collierville, Tennessee own their home, higher than the Tennessee average of 60.1%.
What is the vacancy rate in Collierville, Tennessee?
The housing vacancy rate in Collierville, Tennessee is 4.2%, lower than the Tennessee average of 10.2%.
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