The tuition is $21,960. This is the annual tuition for Memphis University School for the 2026 academic year. Recently, a family looking to move near this school reached out, prompting us to look at this figure first. At this level of tuition, it is relatively accessible compared to private schools in other areas.

MUS is an all-boys school for grades 6 through 12, with 665 students enrolled and a teacher-to-student ratio of 7 to 1. The average SAT score is 1341, and the ACT score is 30. The school's acceptance rate is reported to be 90 percent. For girls, Hutchison School is an option, with a tuition of $28,100, and 21 percent of students receive financial aid. The average SAT score is 1190, the ACT score is 27, and there are 22 AP courses offered. Both schools have built a strong reputation in the community for academic achievement over many years. The low teacher-to-student ratio and thorough college counseling are frequently mentioned strengths.

Looking at the recent market, there is a clear trend of inquiries continuing for the East Memphis area where these two schools are located. According to RentCafe data, as of August 2026, the average rent in Memphis is $1,146. This is a 0.15 percent increase from a year ago, indicating that the fluctuation is not significant. However, this is the overall average for the city, and it should be noted that the East Memphis area, where MUS and Hutchison are located, tends to have higher rates. For families considering buying, it is advisable to monitor both rental trends and mortgage rate trends to understand the current market. Given the significant fluctuations in interest rates over the past few years, the range of affordable purchase prices can vary depending on the timing, even with the same budget.

In terms of numbers, Memphis still has a relatively low barrier to entry compared to other major Southern cities. However, this does not mean it is always advantageous. The availability of homes near the schools can be limited, making it difficult to find the desired home at the desired time. It has been observed that families often choose to rent first to assess school assignments and commuting routes before transitioning to buying.

Tennessee has no state income tax, but the property tax and sales tax structures differ from other states, so families moving from out of state should realistically reassess their overall tax burden. While school districts can be referenced through GreatSchools or Niche ratings, it is important to check the assigned school for a specific address before purchasing, as district boundaries frequently change. This is not investment or legal advice, and consulting with a professional before signing a contract is recommended.

In summary, the Memphis market maintains a relatively accessible level for both tuition and housing costs. However, areas like East Memphis, where high-achieving schools are concentrated, consistently show higher prices than the city average. I highlighted this point to the inquiring family, and it was only after viewing several properties together that we could adjust the budget range. For families moving to Memphis from out of state, it is worth noting that due to Tennessee's unique tax structure, the perceived cost of living often decreases compared to their previous residence. However, this can vary based on income levels and spending patterns, so it is more accurate to calculate individually rather than definitively stating it is advantageous. In conclusion, Memphis offers private school options with tuition ranging from $21,960 to $28,100, and rental prices are also relatively low compared to other major Southern cities. However, it is important to reiterate that popular areas like East Memphis are exceptions, and I recommend taking the time to explore the neighborhood thoroughly before making a decision.