Elvis Presley’s Graceland: How Much Did He Pay for the Home? What Is It Worth Today?

<p id=”par-1_53″><a href=”https://www.cheatsheet.com/tag/elvis-presley/”>Elvis Presley</a>‘s Graceland home has become <a href=”https://www.cheatsheet.com/entertainment/elvis-presley-beloved-graceland-home-located-near-worlds-largest-private-bomb-shelter.html/”>as iconic</a> as the entertainer himself. The Memphis estate draws upwards of half a million people yearly to tour <a href=”https://www.cheatsheet.com/entertainment/elvis-presley-surprising-reason-behind-graceland-one-way-mirrors.html/”>the residence</a> and its expansive grounds. In 1957, Presley paid a considerable sum for the mansion. How much did he pay for Graceland? What is it worth today?</p>

<h2 class=”wp-block-heading” id=”h-elvis-presley-paid-20-times-more-than-the-average-yearly-income-for-graceland”>Elvis Presley paid 20 times more than the average yearly income for Graceland</h2>

<p id=”par-2_38″>According to the <a href=”https://www.census.gov/library/publications/1958/demo/p60-030.html#:~:text=Average%20(median)%20family%20income%20in,the%20Census%2C%20Department%20of%20Commerce.” target=”_blank” rel=”noreferrer noopener”>Census</a>, the average median income for a home in 1957 was around $5,000. Elvis Presley paid 20 times more than that for Graceland when he put down $1,000 collateral on a purchase price of $102,5000.</p>

<p id=”par-3_40″>Presley reportedly left it up to his parents, Vernon and Gladys, to find the family home with more property for both privacy and security. The family previously lived at 1034 Audobon Drive, and the property was easily accessible to fans.</p>

<p id=”par-4_43″>Subsequently, Graceland was presented as an option for the family residence via real estate agent Virginia Grant, per<a href=”https://cdispatch.com/opinions/partial-to-home-how-elvis-bought-graceland/#:~:text=Gladys%20convinced%20Vernon%20to%20tour,and%20thought%20Elvis%20would%2C%20too.” target=”_blank” rel=”noreferrer noopener”> The Dispatch</a>. Though she had never been inside it, Graceland had just come on the market and Virginia suggested the Presley’s see the 14-acre estate.</p>

<p id=”par-5_26″>Grant showed Vernon and Gladys the home on Saturday, March 17, 1957. Two days later, Presley saw the house, loved it, and put down the money.</p>

<p id=”par-6_27″>Gladys and Vernon Presley moved into Graceland on May 16, 1957. Elvis first stayed at the property on June 26, 1957 as he was filming a movie.</p>

<h2 class=”wp-block-heading” id=”h-how-much-is-the-property-worth-today”>How much is the property worth today?</h2>

<blockquote class=”instagram-media” data-instgrm-captioned data-instgrm-permalink=”https://www.instagram.com/p/CqS-6iJJ2f9/?utm_source=ig_embed&utm_campaign=loading” data-instgrm-version=”14″ style=” background:#FFF; border:0; border-radius:3px; box-shadow:0 0 1px 0 rgba(0,0,0,0.5),0 1px 10px 0 rgba(0,0,0,0.15); margin: 1px; max-width:540px; min-width:326px; padding:0; width:99.375%; width:-webkit-calc(100% – 2px); width:calc(100% – 2px);”><div style=”padding:16px;”> <a href=”https://www.instagram.com/p/CqS-6iJJ2f9/?utm_source=ig_embed&utm_campaign=loading” style=” background:#FFFFFF; line-height:0; padding:0 0; text-align:center; text-decoration:none; width:100%;” target=”_blank” rel=”noopener”> <div style=” display: flex; flex-direction: row; align-items: center;”> <div style=”background-color: #F4F4F4; border-radius: 50%; flex-grow: 0; height: 40px; margin-right: 14px; width: 40px;”></div> <div style=”display: flex; flex-direction: column; flex-grow: 1; justify-content: center;”> <div style=” background-color: #F4F4F4; border-radius: 4px; flex-grow: 0; height: 14px; margin-bottom: 6px; width: 100px;”></div> <div style=” background-color: #F4F4F4; border-radius: 4px; flex-grow: 0; height: 14px; width: 60px;”></div></div></div><div style=”padding: 19% 0;”></div> <div style=”display:block; height:50px; margin:0 auto 12px; width:50px;”><svg width=”50px” height=”50px” viewbox=”0 0 60 60″ version=”1.1″ xmlns=”https://www.w3.org/2000/svg” xmlns:xlink=”https://www.w3.org/1999/xlink”><g stroke=”none” stroke-width=”1″ fill=”none” fill-rule=”evenodd”><g transform=”translate(-511.000000, -20.000000)” fill=”#000000″><g><path d=”M556.869,30.41 C554.814,30.41 553.148,32.076 553.148,34.131 C553.148,36.186 554.814,37.852 556.869,37.852 C558.924,37.852 560.59,36.186 560.59,34.131 C560.59,32.076 558.924,30.41 556.869,30.41 M541,60.657 C535.114,60.657 530.342,55.887 530.342,50 C530.342,44.114 535.114,39.342 541,39.342 C546.887,39.342 551.658,44.114 551.658,50 C551.658,55.887 546.887,60.657 541,60.657 M541,33.886 C532.1,33.886 524.886,41.1 524.886,50 C524.886,58.899 532.1,66.113 541,66.113 C549.9,66.113 557.115,58.899 557.115,50 C557.115,41.1 549.9,33.886 541,33.886 M565.378,62.101 C565.244,65.022 564.756,66.606 564.346,67.663 C563.803,69.06 563.154,70.057 562.106,71.106 C561.058,72.155 560.06,72.803 558.662,73.347 C557.607,73.757 556.021,74.244 553.102,74.378 C549.944,74.521 548.997,74.552 541,74.552 C533.003,74.552 532.056,74.521 528.898,74.378 C525.979,74.244 524.393,73.757 523.338,73.347 C521.94,72.803 520.942,72.155 519.894,71.106 C518.846,70.057 518.197,69.06 517.654,67.663 C517.244,66.606 516.755,65.022 516.623,62.101 C516.479,58.943 516.448,57.996 516.448,50 C516.448,42.003 516.479,41.056 516.623,37.899 C516.755,34.978 517.244,33.391 517.654,32.338 C518.197,30.938 518.846,29.942 519.894,28.894 C520.942,27.846 521.94,27.196 523.338,26.654 C524.393,26.244 525.979,25.756 528.898,25.623 C532.057,25.479 533.004,25.448 541,25.448 C548.997,25.448 549.943,25.479 553.102,25.623 C556.021,25.756 557.607,26.244 558.662,26.654 C560.06,27.196 561.058,27.846 562.106,28.894 C563.154,29.942 563.803,30.938 564.346,32.338 C564.756,33.391 565.244,34.978 565.378,37.899 C565.522,41.056 565.552,42.003 565.552,50 C565.552,57.996 565.522,58.943 565.378,62.101 M570.82,37.631 C570.674,34.438 570.167,32.258 569.425,30.349 C568.659,28.377 567.633,26.702 565.965,25.035 C564.297,23.368 562.623,22.342 560.652,21.575 C558.743,20.834 556.562,20.326 553.369,20.18 C550.169,20.033 549.148,20 541,20 C532.853,20 531.831,20.033 528.631,20.18 C525.438,20.326 523.257,20.834 521.349,21.575 C519.376,22.342 517.703,23.368 516.035,25.035 C514.368,26.702 513.342,28.377 512.574,30.349 C511.834,32.258 511.326,34.438 511.181,37.631 C511.035,40.831 511,41.851 511,50 C511,58.147 511.035,59.17 511.181,62.369 C511.326,65.562 511.834,67.743 512.574,69.651 C513.342,71.625 514.368,73.296 516.035,74.965 C517.703,76.634 519.376,77.658 521.349,78.425 C523.257,79.167 525.438,79.673 528.631,79.82 C531.831,79.965 532.853,80.001 541,80.001 C549.148,80.001 550.169,79.965 553.369,79.82 C556.562,79.673 558.743,79.167 560.652,78.425 C562.623,77.658 564.297,76.634 565.965,74.965 C567.633,73.296 568.659,71.625 569.425,69.651 C570.167,67.743 570.674,65.562 570.82,62.369 C570.966,59.17 571,58.147 571,50 C571,41.851 570.966,40.831 570.82,37.631″></path></g></g></g></svg></div><div style=”padding-top: 8px;”> <div style=” color:#3897f0; font-family:Arial,sans-serif; font-size:14px; font-style:normal; font-weight:550; line-height:18px;”>View this post on Instagram</div></div><div style=”padding: 12.5% 0;”></div> <div style=”display: flex; flex-direction: row; margin-bottom: 14px; align-items: center;”><div> <div style=”background-color: #F4F4F4; border-radius: 50%; height: 12.5px; width: 12.5px; transform: translateX(0px) translateY(7px);”></div> <div style=”background-color: #F4F4F4; height: 12.5px; transform: rotate(-45deg) translateX(3px) translateY(1px); width: 12.5px; flex-grow: 0; margin-right: 14px; margin-left: 2px;”></div> <div style=”background-color: #F4F4F4; border-radius: 50%; height: 12.5px; width: 12.5px; transform: translateX(9px) translateY(-18px);”></div></div><div style=”margin-left: 8px;”> <div style=” background-color: #F4F4F4; border-radius: 50%; flex-grow: 0; height: 20px; width: 20px;”></div> <div style=” width: 0; height: 0; border-top: 2px solid transparent; border-left: 6px solid #f4f4f4; border-bottom: 2px solid transparent; transform: translateX(16px) translateY(-4px) rotate(30deg)”></div></div><div style=”margin-left: auto;”> <div style=” width: 0px; border-top: 8px solid #F4F4F4; border-right: 8px solid transparent; transform: translateY(16px);”></div> <div style=” background-color: #F4F4F4; flex-grow: 0; height: 12px; width: 16px; transform: translateY(-4px);”></div> <div style=” width: 0; height: 0; border-top: 8px solid #F4F4F4; border-left: 8px solid transparent; transform: translateY(-4px) translateX(8px);”></div></div></div> <div style=”display: flex; flex-direction: column; flex-grow: 1; justify-content: center; margin-bottom: 24px;”> <div style=” background-color: #F4F4F4; border-radius: 4px; flex-grow: 0; height: 14px; margin-bottom: 6px; width: 224px;”></div> <div style=” background-color: #F4F4F4; border-radius: 4px; flex-grow: 0; height: 14px; width: 144px;”></div></div></a><p style=” color:#c9c8cd; font-family:Arial,sans-serif; font-size:14px; line-height:17px; margin-bottom:0; margin-top:8px; overflow:hidden; padding:8px 0 7px; text-align:center; text-overflow:ellipsis; white-space:nowrap;”><a href=”https://www.instagram.com/p/CqS-6iJJ2f9/?utm_source=ig_embed&utm_campaign=loading” style=” color:#c9c8cd; font-family:Arial,sans-serif; font-size:14px; font-style:normal; font-weight:normal; line-height:17px; text-decoration:none;” target=”_blank” rel=”noopener”>A post shared by Elvis Presley’s Graceland (@visitgraceland)</a></p></div></blockquote> <script async src=”//www.instagram.com/embed.js”></script>

  ‘The Way Home’: When Is the Season 2 Finale? Will There Be a Season 3?

<p id=”par-7_25″>Adjusted for inflation, Graceland is currently worth millions in today’s market. However, the home’s rich history and its ties to Elvis Presley make it priceless.</p>

<p id=”par-8_63″>Although he only lived at Graceland for 20 years, Presley left a <a href=”https://www.cheatsheet.com/entertainment/graceland-heart-soul-elvis-legacy-says-priscilla-presley.html/”>legacy of work</a> that continues to draw over half a million visitors annually. The property is so beloved that it was placed on the National Register of Historic Places in 1991 and declared a historic landmark in March 2006. <a href=”https://www.instagram.com/p/CqS-6iJJ2f9/” target=”_blank” rel=”noreferrer noopener”>Graceland’s Instagram page</a> paid homage to the distinction in March 2023. </p>

<h2 class=”wp-block-heading” id=”h-what-additions-did-elvis-presley-put-on-graceland-that-weren-t-there-originally”>What additions did Elvis Presley put on Graceland that weren’t there originally?</h2>

<figure class=”wp-block-image size-full” id=”emb-1″><img decoding=”async” loading=”lazy” width=”1800″ height=”900″ src=”https://www.cheatsheet.com/wp-content/uploads/2024/05/graceland-meditation-garden.jpg?strip=all&quality=89″ alt=”The Meditation Garden is in Graceland’s backyard in Memphis, Tennessee, where Elvis Presley is buried.” class=”wp-image-3666960″><figcaption class=”wp-element-caption”>The Meditation Garden is in Graceland’s backyard in Memphis, Tennessee, where Elvis Presley is buried | Mandel Ngan/AFP via Getty Images</figcaption></figure>

<div class=”related-article related-article–simple”>
<span class=”related-article-flag”>Related</span>
<p class=”related-article__title”>
<a href=”https://www.cheatsheet.com/entertainment/elvis-presley-graceland-foreclosure-scam-priscilla-presley.html/”>
Elvis Presley’s Graceland Foreclosure a ‘Scam,’ Says Priscilla Presley </a>
</p>
</div>
<p id=”par-9_30″>According to<a href=”https://www.graceland.com/elvis-at-graceland” target=”_blank” rel=”noreferrer noopener”> Graceland’s official website</a>, the original property encompassed 13.8 acres. Graceland was a rural area at the time. Therefore, Elvis Presley initially purchased the home and its adjacent farmland.</p>

<p id=”par-10_33″>The home’s original owners, Dr. and Mrs. Thomas Moore, named Graceland after Mrs. Moore’s Aunt Grace Toof, the original landowner. The land was used for a cattle farm where Hereford cattle were raised.</p>

<p id=”par-11_23″>When Presley initially purchased the property, Graceland was 10,266 square feet. The additions Presley made to the home now total 17,552 square feet.</p>

  Buckingham Palace’s shop posted an ad for the palace-branded strawberry jam

<p id=”par-12_42″>Graceland has 23 rooms, including eight bedrooms and bathrooms. The original one-story wing on the north end of the residence includes a mechanical room, bedroom, and bath. In the mid-1960s, Presley enclosed a porch to create a den called the Jungle Room.</p>

<p id=”par-13_59″>Presley added a large wing on the south side of the main house comprising a sidewalk between the music room in the original one-story wing and the swimming pool area. This connected the home to a small building, which at first housed a slot car track but was later remodeled to become what was known as the Trophy Building.</p>

<p id=”par-14_49″>A large pool and a <a href=”https://www.cheatsheet.com/entertainment/lisa-marie-presley-sang-space-left-in-graceland-meditation-garden.html/”>Meditation Garden</a> were added to the backyard. It was later turned into a <a href=”https://www.cheatsheet.com/entertainment/elvis-presley-daughter-lisa-marie-painful-honesty-about-graceland-meditation-garden-grave-backyard.html/”>Presley family graveyard</a>. Presley had a pink Alabama fieldstone wall constructed to surround the grounds from visitors, a wrought-iron gate shaped like a book of sheet music, and a racquetball court.</p>

<p id=”par-15_18″>Elvis Presley lived in Graceland for 20 years. He died in the home’s upstairs bathroom in August 1977.</p>

(Visited 1 times, 1 visits today)

Leave a Reply

Your email address will not be published. Required fields are marked *