TN · MSA 32820
Memphis construction cost per square foot
By Severance Calculator Editorial · Updated
Regional baseline
The Memphis MSA sits in the East South Central Census division (NAHB 2024 median custom $/sqft = $148). ACS 5-year (2023) reports a $228,100 median home value across the multi-state (TN-MS-AR) MSA — among the lower medians in the top 50 MSAs.
Why the Memphis metro modifier matters
BLS QCEW NAICS-23 data for the Memphis MSA was suppressed at the sector level in 2024 and the subsector aggregate did not meet our confidence threshold, so this metro defaults to the national mean (modifier ~1.0). Mid-South construction wages are, in practice, near or modestly below the national mean.
Local labor market
Tennessee is a right-to-work state with low union density. Memphis's logistics/distribution-driven economy provides skilled-trades depth for industrial work; residential framing and roofing crew availability tightens after regional tornado outbreaks.
Post-disaster reconstruction premium
Tornadoes, severe convective storms, ice storms, and Mississippi River flooding drive most claim activity. The Memphis metro sits within the New Madrid Seismic Zone — earthquake exposure is real but Coverage A does NOT cover earthquake; a separate endorsement or policy is required.
FAQ — Memphis construction cost
- What does it cost per square foot to rebuild a home in Memphis?
- The Memphis MSA sits in the East South Central Census division (NAHB 2024 median custom $/sqft = $148). ACS 5-year (2023) reports a $228,100 median home value across the multi-state (TN-MS-AR) MSA — among the lower medians in the top 50 MSAs.
- Why is Memphis more or less expensive than the regional median?
- BLS QCEW NAICS-23 data for the Memphis MSA was suppressed at the sector level in 2024 and the subsector aggregate did not meet our confidence threshold, so this metro defaults to the national mean (modifier ~1.0). Mid-South construction wages are, in practice, near or modestly below the national mean.
- What does the Memphis labor market look like for residential construction?
- Tennessee is a right-to-work state with low union density. Memphis's logistics/distribution-driven economy provides skilled-trades depth for industrial work; residential framing and roofing crew availability tightens after regional tornado outbreaks.
- How do post-disaster events change rebuild cost in Memphis?
- Tornadoes, severe convective storms, ice storms, and Mississippi River flooding drive most claim activity. The Memphis metro sits within the New Madrid Seismic Zone — earthquake exposure is real but Coverage A does NOT cover earthquake; a separate endorsement or policy is required.