How Much Does Home Insurance Cost in Memphis, TN?
Average annual homeowners insurance premium. Updated March 2026 with data from BLS, U.S. Census Bureau, and industry surveys.
Typical Cost Range
$820 – $2.870
-18% vs national average
$820$1.845$2.870
LowNational avg: $2.250High
Memphis vs State & National Average
| Category | Memphis | Tennessee Avg | National Avg |
|---|---|---|---|
| Average cost | $1.845 | $1.865 | $2.250 |
| Low estimate | $820 | $1.399 | $1.688 |
| High estimate | $2.870 | $2.425 | $2.925 |
Detailed Cost Breakdown
| Item | Low | High | |
|---|---|---|---|
| Low estimate | $1.000 | $1.200 | |
| Average | $2.025 | $2.475 | |
| High estimate | $2.800 | $3.500 |
Home Insurance in Nearby Cities
Frequently Asked Questions
How much does home insurance cost in Memphis?
In Memphis, TN, home insurance typically costs between $820 and $2.870. The average is $1.845, which is 18% below the national average.
Is Memphis expensive for home insurance?
Memphis has a cost-of-living index of 82 (100 = national average). Home Insurance costs are 18% lower than the national average of $2.250.
What factors affect home insurance costs in Memphis?
Key factors include local labor costs, cost of materials, market competition, Tennessee state regulations, and Memphis's overall cost of living (index: 82/100). Prices can also vary by season and specific requirements.