Millington, TN housing market
Typical home value
$235K
▲ 1.8% 1 yr
Typical rent
$1,533/mo
▲ 0.3% 1 yr
Gross rent yield
7.8%
U.S. 6.3%
5-year home value change
+25%
U.S. +20%
Key takeaways
- 1The typical home in Millington is worth $235,225, up 1.8% over the past year and up 25% over five years.
- 2Typical rent is $1,533 a month (+0.3% YoY), a gross rent yield of 7.8% (above the Memphis, TN metro's 6.9%).
- 3With 20% down at 7.32%, principal and interest on the typical home is about $1,293/mo, $240 less than typical rent.
- 4Zillow forecasts the Memphis, TN metro's home values to change −0.1% over the next 12 months.
Market temperature (Memphis, TN metro)
Strong buyer's market
Buyer'sNeutralSeller's
Zillow Market Heat Index: 26/100, #486 hottest of 546 metros. Below 44 favors buyers; above 55 favors sellers.
Home values and rent
Source: Zillow Research (ZHVI, ZORI and market activity data).
How Millington compares
| Measure | Millington | Memphis, TN metro | United States |
|---|---|---|---|
| Typical home value | $235,225 | $242,102 | $366,157 |
| Home value, 1-yr change | +1.8% | +0.1% | +1.2% |
| Typical rent | $1,533 | $1,393 | $1,932 |
| Rent, 1-yr change | +0.3% | +1.1% | +2.7% |
| Gross rent yield | 7.8% | 6.9% | 6.3% |
| Price-to-rent ratio | 12.8 | 14.5 | 15.8 |
| Mortgage P&I, typical home | $1,293 | $1,330 | $2,012 |
Run the numbers
Rental property calculator
Cash flow on a typical Millington rental, pre-filled.
Rent vs buy in Millington
Which costs less over the years you'll stay.
Mortgage calculator
Monthly payment on a $235K home.
Other cities in the Memphis, TN metro
Memphis, TN
$152K home$1,259 rent
▼ 2.8% 1 yr
Bartlett, TN
$318K home$1,858 rent
▼ 1.0% 1 yr
Olive Branch, MS
$334K home$1,829 rent
▲ 1.0% 1 yr
Collierville, TN
$503K home$1,891 rent
▼ 1.4% 1 yr
Southaven, MS
$273K home$1,575 rent
▲ 1.3% 1 yr
Germantown, TN
$481K home$2,319 rent
▼ 1.1% 1 yr
Cordova, TN
$298K home$1,692 rent
▼ 2.0% 1 yr
Hernando, MS
$347K home$2,167 rent
▲ 2.1% 1 yr
City figures are Zillow's typical home value (ZHVI) and observed rent (ZORI). Gross yield is before expenses. Data refreshed Oct 26, 2026.