If you look at the one mile income radius and you see median household income at 45k, then take 30% of that or $13,500. 

Its percent of home payment to median income which has been skyrocketing over the past few years.

Neither of these properties is a median-type homes in Memphis, no matter how you measure. 

Median home price is the deviding line in every metro area.

@Mitchell RosenbergYou can analyze median income of an area.

Not Understanding “Household”Household means “the individuals living together and how they live together.”

They have median household incomes of 52k and 55k respectively.

The median home sold price reached $582,329, reflecting a 9.7% increase from the previous year, with a median price per square foot of $325.

Real estate's "gross rent multiplier" is Wall Street's "sales to revenue",  "cap rate" is roughly "P/E ratio".When evaluating markets and investments I tend to start with GRM (or lazily the 1% rule), then attempt to return a cap rate based on assumptions about costs, then I work my way to multiple years of projections (assumptions about inflation, amortization, tax benefits, etc), and if I am partnering with one of my smart friends I have to pull up an IRR (internal rate of return).I also look at regional employment levels, median income to rent ratio in the zip code etc. 

Here are some key highlights from the report, which compares December 2024 to December 2023:*The median sales price in the greater Austin metro rose slightly by 1.4% to $450,000.