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City · 40,673 residents · Shelby County, Tennessee

Germantown , Tennessee

In Germantown, a typical home is worth $470,800 and typical rent is $1,816 a month. Compared with all of Shelby County, typical household income is 135% higher, the typical home value is 89% higher, and the share of households that own their home is 33 points higher.

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  • Typical home value

    $470,800

    89% above the county

    64% above Tennessee

    • Germantown
    • Shelby
    • Tennessee

  • Typical rent

    $1,816a month

    47% above the county

    53% above Tennessee

    • Germantown
    • Shelby
    • Tennessee

  • Typical household income

    $149,920a year

    135% above the county

    115% above Tennessee

    • Germantown
    • Shelby
    • Tennessee

  • Households that own their home

    87%

    33 points above the county

    20 points above Tennessee

    • Germantown
    • Shelby
    • Tennessee

Source: U.S. Census Bureau, Average 2020–2024

Market now, with Zillow data

Zillow data
Typical home value
$480,889
1.1% less than 12 months ago
Typical rent
$2,319 a month
6.2% more than 12 months ago

From Zillow (ZHVI/ZORI), September 2026. The Census figures above are 5-year averages (2020–2024).

Germantown is in Shelby County. The FHA loan limit ($541,287 for a one-unit home), the fair market rents and the help on this page are those of all of Shelby County. See the county

Data updated: October 1, 2026 11 official sources

Only here

What sets Germantown apart

What this place has that others do not, from public data, most unusual first.

  1. 87% of households in Germantown own their home, against 54% in Shelby County.

  2. The typical household income in Germantown is $149,920, 135% more than in Shelby County as a whole ($63,767).

  3. The typical home in Germantown is worth $470,800, 89% more than in Shelby County as a whole ($249,100).

  4. Nearby, in Memphis, the typical home value is $169,000: 64% less than in Germantown ($470,800).

  5. The typical rent in Germantown is $1,816 a month, 47% more than in Shelby County as a whole ($1,232).

  6. Nearby, in Memphis, the typical rent is $1,181: 35% less than in Germantown ($1,816).

Sources: U.S. Census Bureau (Average 2020–2024).

The homes here

Housing in Germantown

What homes there are in Germantown, what they cost, how that changed and how people live, from Census figures (2020–2024).

What homes there are

U.S. Census Bureau, ACS 5-year, 2020–2024

Kind of home

In Germantown, 8 in 10 homes are single-family detached houses; in Shelby County, 7.

Year built

Here half of the homes date from 1983 or later; in Shelby County, from 1977 or later.

In Germantown, 87% of homes have 3 bedrooms or more, more than in Shelby County (63%).

All homes, occupied or empty. A figure the Census cannot measure precisely enough here is not shown.

Census tables: B25024, B25034, B25035, B25041

What it costs here

U.S. Census Bureau, ACS 5-year, 2020–2024

Value of owner-occupied homes
Monthly rent with utilities

With a mortgage

$2,546 a month

Shelby County: $1,682 a month

Without a mortgage

$923 a month

Shelby County: $602 a month

Owners with a mortgage

64%

Shelby County: 62%

The typical cost for an owner with a mortgage in Germantown is $2,546 a month, more than in Shelby County ($1,682); without one, $923.

Value: what owners think their home is worth. Rent: rent plus utilities, for homes of every size. The FHA limit is the most an FHA loan (Federal Housing Administration) lends for a one-unit home; the fair market rent (FMR) is the one HUD uses for housing vouchers.

Census tables: B25075, B25063, B25088, B25081

How it changed

U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024

Change since 2015–2019

From 2015–2019 to 2020–2024, the typical home value in Germantown rose 42%; in Shelby County, it rose 66%.

The typical rent in Germantown rose 31% since 2015–2019, about the same as in Shelby County (31%).

Housing prices ran ahead of income in Germantown: typical income rose 27%, against +42% for home values and +31% for rent.

Change between two 5-year periods that do not overlap, in each period's dollars, not adjusted for inflation.

Census tables: B25077, B25064, B19013

How people live

U.S. Census Bureau, ACS 5-year, 2020–2024

MeasureGermantownShelby CountyTennesseeUnited States
Rental vacancy Unreliable estimate7.9%6.1%5.5%
Homeowner vacancy Unreliable estimate0.5%0.9%0.9%
More than one person per room Unreliable estimate2.4%2.2%3.4%
People per household 2.602.492.452.53
Drive alone 72%77%76%69%
Carpool 6%9%8%9%
Public transit Unreliable estimate1%0%3%
Walk or bike Unreliable estimate1%1%3%
Work from home 21%11%13%15%
Other means 1%1%1%2%
Typical commute 20 to 29 minutes20 to 29 minutes20 to 29 minutes20 to 29 minutes

By size, households in Germantown look like those in Shelby County: 2.60 people on average.

Working from home is more common in Germantown: 21%, against 11% in Shelby County.

Vacancy: empty homes offered for rent or for sale. Rooms: every room in the home, not only bedrooms. Commute: the minute range of the typical worker.

Census tables: B25004, B25003, B25014, B25010, B08301, B08303

Do the math

What would you pay each month for a home in Germantown?

A typical home is tight for the typical income

We start with a typical home in Germantown, worth $470,800, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 32% of the typical household income in Germantown, which is $149,920 a year. For that payment to be 28% of income, a household would need to earn about $168,693 a year.

The calculator's FHA and conventional loan limits are those of all of Shelby County.

Your numbers

Local data
$

Starts at the typical home value in Germantown. Change it to the price you have in mind.

Loan type
Your credit score

Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.

Down payment
%

That is $16,478 (3.5% of the price). The usual minimum for this loan is 3.5%.

This week's average ± a quarter or half point.

Term

National average as of November 5, 2026 (Freddie Mac); your rate may be different.

Adjust advanced details

Estimated monthly payment

Local data

$3,936

at 7.18% · 30 years

Loan amount
$462,273
Total interest
$665,102
Paid off in
November 2056

Includes $7,951 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $3,498 a month

  • Tight

    $3,498 to $4,498 a month

    Your payment · 32%

  • Hard

    more than $4,498 a month

Compared with the typical household income in Germantown ($149,920 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$3,936
Principal & interest$3,132
Property tax$400
Home insurance$196
FHA mortgage insurance (MIP)$208

You need at least $16,478 for the down payment, plus closing costs.

Next step

This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.

The city and its county

Germantown and Shelby County

Germantown is in Shelby County, Tennessee. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).

Germantown's own numbers

Typical home value
$470,800
Typical monthly rent
$1,816
Typical yearly household income
$149,920
Households that own their home
87%
Effective property tax rate
1.02%

U.S. Census Bureau, American Community Survey (average 2020–2024).

Numbers for all of Shelby County

FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,301
Price change over 5 years (FHFA)
+38%
Homes in a high flood-risk zone
1%

HUD, FHFA and FEMA don't publish these numbers by city.

Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Shelby County.

Everything about Shelby County

Buying

Buying a home in Germantown

A typical home in Germantown is worth $470,800: 89% above the county and 64% above Tennessee. With the typical household income in Germantown ($149,920 a year), a typical home costs 3.1 times what the household earns in a year.

Years of income to pay for a typical home

The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.

  • Germantown 3.1 years
  • Shelby 3.9 years
  • Tennessee 4.1 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Shelby County

According to FHFA’s house price index, home prices in Shelby County rose 82% in the 10 years through 2025.

FHFA does not publish this index by city: these are the numbers for all of Shelby County.

Period County Tennessee U.S.
Last year (2025) −0.1% +2.4% +2.9%
5 years (2020–2025) +38% +60% +47%
10 years (2015–2025) +82% +114% +85%

The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data

Germantown next to Shelby County, Tennessee and the U.S.

Three numbers side by side. “Typical” means the median: half are above it and half below.

Typical home value
  • Germantown $470,800
  • Shelby $249,100
  • Tennessee $286,700
  • United States $332,700
Typical monthly rent
  • Germantown $1,816
  • Shelby $1,232
  • Tennessee $1,189
  • United States $1,413
Typical yearly household income
  • Germantown $149,920
  • Shelby $63,767
  • Tennessee $69,595
  • United States $80,734
See the full table
Germantown next to Shelby County and Tennessee
Measure Germantown Shelby County Tennessee U.S.
Typical home value $470,800 $249,100 $286,700 $332,700
Typical monthly rent $1,816 $1,232 $1,189 $1,413
Typical yearly household income $149,920 $63,767 $69,595 $80,734
Households that own their home 87% 54% 67% 65%
Typical yearly property tax $4,786 $2,429 $1,442 $3,119
Effective property tax rate 1.02% 0.98% 0.5% 0.94%
Renters with high rent for their income 53% 54% 49% 51%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Shelby County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.

Four ways to pay for a typical home in Germantown

For a typical $470,800 home in Germantown, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Germantown's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $3,936a month

    Least cash to close
    Down payment
    $16,478
    Cash to close
    $30,602
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $208

  • Conventional, 5% down $3,850a month

    Down payment
    $23,540
    Cash to close
    $37,664
    Rate
    7.18%
    Mortgage insurance
    PMI · $224

  • Conventional, 20% down, no PMI $3,148a month

    Down payment
    $94,160
    Cash to close
    $108,284
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $3,583a month

    Down payment
    $70,620
    Cash to close
    $84,744
    Rate
    8.18%
    Mortgage insurance
    None

The option that asks for the least cash to close is FHA, 3.5% down.

  • Cash to close = down payment plus 3% of the price in closing costs (example).
  • Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
  • The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.

How much house can I afford? Estimate closing costs

Taxes and floods

Two costs that change from place to place

Property tax and flood insurance raise or lower what you pay each month. Here are the numbers for Germantown and for Shelby County.

Property tax

Effective rate in Germantown

1.02%of the home’s value each year

$4,786 a year for the typical owner in Germantown.

  • Germantown 1.02%
  • Shelby 0.98%
  • Tennessee 0.5%

What Tennessee publishes Property tax relief for older, disabled and disabled-veteran homeowners (Tennessee Comptroller of the Treasury, 2026 Property Tax Relief Program brochure)

Exemptions and deadlines in Tennessee

Flood risk in Shelby County

FEMA does not publish these numbers by city: they are for all of Shelby County.

Homes in the high-risk zone
1%
3,036
Of those, with NFIP insurance
18%
County Tennessee U.S.
Homes in the high-risk zone 1% 1.6% 3.5%
Of those, with NFIP insurance 18% 25% 48%

Most homeowners insurance policies do not cover flood damage.

Look up your address on FEMA’s map

Renting

Renting in Germantown

Typical rent in Germantown is $1,816 a month: 47% above the county. In Germantown, 53% of renter households pay 30% or more of their income in rent.

HUD publishes a fair market rent for all of Shelby County, by unit size. To pay the 2-bedroom one ($1,301 a month) without spending more than 30% of your income, you would need to earn $25.02 an hour working full time.

HUD fair market rent for all of Shelby County

What you need to earn to pay it without spending more than 30% of income, working full time.

Size Fair rent a month Hourly wage Yearly income
Studio $1,095 $21.06 $43,800
1 bedroom $1,191 $22.90 $47,640
2 bedrooms $1,301 $25.02 $52,040
3 bedrooms $1,717 $33.02 $68,680
4 bedrooms $1,981 $38.10 $79,240

Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027

By ZIP code

Fair market rent by ZIP code in Germantown

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Germantown has 2 ZIP codes with their own.

For 2 bedrooms it runs from $1,870 in 38138 to $1,950 in 38139.

2 of the 2 are above the fair market rent for Shelby County ($1,301).

  • 38138 $1,870$2,470
  • 38139 $1,950$2,570

1 of these ZIP codes crosses the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Germantown when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD) Fiscal year 2027 Small Area Fair Market Rents (HUD) Source: Census Bureau ZCTA-to-place relationship file Data from 2020 data Census Bureau ZCTA-to-place relationship file

Is your rent high for your ZIP?

Free help

Help to buy or rent in Germantown

You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.

There are 5 HUD-approved agencies with an office in Shelby County; 1 says it serves in Spanish.

A pregnant woman reads paperwork on the sofa while the grandmother plays with the girl on the floor.

HUD counseling is free or low-cost

Assistance programs in Germantown

No down payment, repair or rent-help program on our list is for Germantown or Shelby County. The ones below are statewide in Tennessee: they work in Germantown the same as in the rest of the state.

Which programs do I qualify for? All programs in Tennessee

  • Great Choice Plus

    Statewide in Tennessee

    Tennessee state agency help with the down payment and closing costs alongside the Great Choice mortgage: $6,000 or $10,000 forgivable over 10 years with no payments, or up to 5% of the price (maximum $15,000) as a 30-year second mortgage. Offered by Tennessee Housing Development Agency (THDA).

    ForgivableRepayable

    See the program Official page

Housing counselors near Germantown

The HUD-approved agencies closest to the center of Germantown, in a straight line, nearest first. If one says it serves in Spanish, its card says so.

  • Operation Hope - Memph TN - Poplar Av

    6815 Poplar Ave Ste 100, Memphis · 3 miles away

    • Budget and financial counseling
    • Budget and credit workshops
    • and 2 more
    (571) 544-2282

  • United Housing, Inc.

    2750 Colony Park Dr, Memphis · 8 miles away

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 3 more
    (901) 272-1122

  • NSC (naca Counseling Subsidiary) - Memphis, TN

    2400 Poplar Ave. Suite 500, Memphis · 12 miles away · Spanish

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 5 more
    (901) 348-0115

Every agency in Shelby County All counseling agencies in Tennessee

Help in Spanish near Germantown

1 of the 3 agencies on this list says it serves in Spanish.

Ask for service in Spanish

When you call, say “Spanish, please” or ask if someone speaks Spanish. If not, ask whether they offer an interpreter.

Housing authorities of Germantown

In HUD’s record, no housing authority with an office in Shelby County is named for Germantown or Shelby County.

2 other authorities have an office in Shelby County: see the list Source: HUD

Cities

Other cities in Shelby County

These cities are also in Shelby County. They share its loan limits and fair market rents, but home values and rent change from one to the next.

Everything about Shelby County Housing in Tennessee

Nearby cities

The cities closest to Germantown, with the typical home value.

Neighboring counties

If Shelby County is out of reach, look next door. Each number is that county's own.

Keep going

Guides for your next step

Short explanations, in plain language and with official sources, for buying or renting in Germantown.

All guides
A father and mother walk their son by the hand down the sidewalk.

Questions

Housing questions about Germantown

Short answers with the numbers for Germantown and all of Shelby County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.

How much does a typical home cost in Germantown?

The typical home value in Germantown is $470,800, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Shelby County it is $249,100.

How much does it cost to rent in Germantown?

Typical rent in Germantown is $1,816 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Shelby County is $1,301.

What is the FHA loan limit in Germantown?

Germantown uses the FHA limit for all of Shelby County (2026): $541,287 for a one-unit home and $1,041,125 for a four-unit home.

How much property tax do owners pay in Germantown?

The typical homeowner in Germantown pays $4,786 a year, according to the U.S. Census Bureau. That is 1.02% of the home’s value; in Shelby County, the rate is 0.98%.

Where can I find free help to buy or rent in Germantown?

There are 5 HUD-approved counseling agencies with an office in Shelby County. 1 says it serves in Spanish. They can help you get ready to buy, with your credit, or with rent.

Sources: American Community Survey (ACS) 5-year estimates (Average 2020–2024); FHA mortgage limits (HUD) (2026 data); Conforming loan limits (FHFA) (2026 data); Fair Market Rents (HUD) (Fiscal year 2027); Small Area Fair Market Rents (HUD) (Fiscal year 2027); Census Bureau ZCTA-to-place relationship file (2020 data); HUD-approved housing counseling agencies (Retrieved November 6, 2026); Public Housing Agencies (HUD) (Retrieved November 6, 2026); Freddie Mac Primary Mortgage Market Survey (PMMS) (As of November 5, 2026); FHFA House Price Index (HPI) (2025 data); Homes with flood insurance (NFIP, FEMA) (As of August 3, 2026).