When looking for a home in Memphis, you may discover quieter and more organized neighborhoods just outside the city limits. Germantown is one of them.

Germantown is located in the eastern suburbs of Memphis and is considered one of the areas with the highest school district ratings in Shelby County. It features many single-family homes with large lots and spacious gardens, and it has a strong sense of community governance. The median home price ranges from $450,000 to $550,000.

Collierville is another suburb with a similar character. It has grown around a historic downtown square, and in recent years, new developments have been actively taking place, leading to an influx of young professional families. The median home price is estimated to be around $430,000 to $500,000.

In downtown Memphis, Chickasaw Gardens and Central Gardens are considered historic affluent neighborhoods. These areas feature large mansions built in the 1920s and 1930s, showcasing remnants of the old wealthy neighborhoods that remain within the city. The median home price is around $500,000 to $700,000.

Compared to the overall median home price in the Memphis metropolitan area, which is around $150,000 to $180,000, Germantown and Collierville are priced more than double, while Chickasaw Gardens is priced more than triple. This disparity appears to be the result of accumulated differences in school districts, safety, and the timing of developments.

Among Korean families, Germantown and Collierville have long been preferred for their school districts and community accessibility. Both areas have Korean churches and shops, making it relatively easy to access living infrastructure from the beginning of settlement.

If you are considering moving or investing near Memphis, be aware that even within Germantown, there can be significant price differences based on the year of construction, so it is advisable to check the age and remodeling status of the properties.

The price information in this article is based on data from Zillow and Redfin as of 2025, and actual transaction prices may vary depending on listings and timing.