Real Estate Investing in Memphis, Tennessee
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in Memphis, TN? Our answer, based on the numbers below.
For Homebuyers
MIXED
Grade C (68/100)
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
For Investors
GOOD
3.5 / 5
(74/100)
A cash-flow market — rent-to-price math works from day one, though value growth is modest. Great for income-focused investors.
Risks to Know
1 flag
- High vacancy: 12.9% of homes vacant — above national norms.
What’s happening in Memphis, TN?
Click any question — our AI will research it live from the web and show you sources.
🏦 30-yr Fixed Rate:
6.76%
as of Sep 10
Source: Freddie Mac PMMS
Avg Investability
★★★★★
Avg Home Value
$150,680
Avg Monthly Rent
$1,243
ZIP Codes
28
Market Trends — Memphis, TN
Home Value History
Rent History
Local Pulse Report
AI-researched developments and news for Memphis, TN. Updated on demand as visitors ask.
Growth & development in Memphis, TN Updated 147 days ago
Memphis is experiencing significant development with major investments in technology, healthcare, and infrastructure, alongside some business closures.
Opportunities
- Legacy Power Capital announced a $9.4 billion "neural nexus" mixed-use development in Downtown Memphis in December 2025. — This project will bring new technology infrastructure, housing, retail, and an 800-key hotel, creating jobs and revitalizing the downtown area. WREG.com
- Ford's $9.63 billion BlueOval City electric vehicle and battery manufacturing campus near Memphis is set to begin production in 2025. — This project is expected to create thousands of jobs and establish Memphis as a hub for EV innovation. J Hunter Realty, LLC
- St. Jude Children's Research Hospital is expanding with a third tower, the Advanced Research Center II, and two 15-story towers by 2025. — This expansion will bolster Memphis's status in pediatric research and healthcare, creating thousands of jobs. J Hunter Realty, LLC
- Google announced a multi-billion dollar data center investment in West Memphis in November 2025. — This brings high-wage tech jobs and strengthens the region's technology ecosystem, attracting further investment. Meridian Property Management
- The I-55/Crump Interchange Reconstruction, a $141 million project, is expected to be completed by February 2025. — This infrastructure improvement aims to enhance traffic flow and safety in the area. J Hunter Realty, LLC
Concerns
- Multifamily construction activity in Memphis has slowed dramatically, with starts plummeting 60% from 2023 to 2024. — This reduction in new housing supply could lead to increased housing costs and limited options for renters. MMG Real Estate Advisors
- Georgia-Pacific announced in October 2025 that it would close its Memphis Cellulose mill and Technology and Innovation Center. — This closure will result in the layoff of 152 employees, impacting local employment. localmemphis.com
- Archer Daniels Midland Company (ADM) plans to close its North Memphis facility by the end of January 2026. — This closure will affect 95 workers, leading to job losses in the community. YouTube
Bottom line: Memphis is experiencing substantial economic growth and infrastructure improvements, though some sectors face job losses and a slowdown in housing construction.
Local news & events in Memphis, TN Updated 147 days ago
Memphis has seen a significant drop in major crime categories, but environmental concerns persist with ongoing pollution issues and new industrial developments raising health alarms for residents.
Opportunities
- Memphis Police Department reported historic crime reductions across all major categories in the first eight months of 2025, reaching a 25-year low for overall crime. — This significantly enhances public safety and reduces the risk of residents experiencing various crimes. Memphis Police Department
- The City of Memphis reported a 26.22% drop in major crimes city-wide as of November 2025, with a notable decrease in motor vehicle thefts. — This indicates a positive trend in community safety and protection of personal property. City of Memphis
- Memphis Parks and other organizations are hosting numerous free community events, including festivals, workshops, and cultural celebrations throughout 2026. — These events provide diverse opportunities for recreation, cultural engagement, and community building for all residents. Memphis Parks, I Love Memphis Blog
Concerns
- Residents of southwest Memphis have faced long-term health and environmental concerns due to a sterilization facility emitting high levels of ethylene oxide since the 1970s, which was finally closed in 2024. — This imposed significant health risks, including increased cancer rates, on a predominantly Black community without their consent. EHN, Time Magazine
- Elon Musk's xAI data center in South Memphis has been operating 35 unpermitted temporary gas turbines, leading to increased nitrogen dioxide concentrations and exacerbating health issues in the predominantly Black commu… — This industrial activity introduces new air pollution and associated health risks, particularly for vulnerable residents, without proper regulatory oversight. Time Magazine, ProPublica
- Despite city officials claiming no dangerous levels, environmental groups argue that xAI's turbines could be the largest source of nitrogen oxides pollution in Shelby County, contributing to smog and respiratory problem… — This raises concerns about the long-term health impacts on residents and the effectiveness of environmental safeguards. ProPublica, E&E News
- Some senior residents in South Memphis have experienced issues with out-of-state landlords, including accumulating trash, late fees, and unaddressed property maintenance concerns. — This restricts residents' ability to live in safe and well-maintained housing and can lead to financial burdens. YouTube (local news)
Bottom line: While Memphis has made significant strides in reducing crime, ongoing environmental pollution from industrial operations remains a major concern for resident health and well-being.
Schools in Memphis, TN Updated 147 days ago
Memphis-Shelby County Schools (MSCS) is undergoing significant changes, including a large budget approval, facility overhauls, and state intervention, amidst declining enrollment.
Opportunities
- Memphis-Shelby County Schools approved a $1.8 billion budget for the 2024-25 fiscal year, including historic investments in infrastructure and teacher salaries. — This budget prioritizes student achievement and teacher retention through increased salaries and facility improvements. MSCS & Chalkbeat
- The 2024-25 school letter grades show encouraging district-wide progress, with more schools improving their performance and fewer scoring below a C. — Improved school ratings indicate enhanced academic environments and better educational outcomes for students. MSCS & Chalkbeat
- MSCS achieved an 'Advancing District' federal accountability rating for three of the last four years, signifying measurable momentum in student achievement and growth. — This rating reflects stable and improving performance across key educational measures, benefiting student progress. MSCS
- Memphis-Shelby County Schools broke ground on a new state-of-the-art Frayser Community High School in March 2025, consolidating two high schools into a modern learning environment. — This project provides modern classrooms, collaborative spaces, and innovative technology for 1,500 students, enhancing educational opportunities. The Tennessee Tribune
- The 2024-25 budget allocates $14.6 million to expand after-school programs, adding activity bus routes and comprehensive activities for nearly 8,000 students. — Expanded after-school programs offer more opportunities for student engagement and support beyond the regular school day. MSCS & Chalkbeat
Concerns
- Tennessee Republicans passed a law in April 2026 creating a state-appointed oversight board with sweeping authority over Memphis-Shelby County Schools, citing academic underperformance and instability. — This restricts local control over the school district's budget, staffing, and major decisions, potentially overriding community preferences. Chalkbeat
- The Memphis-Shelby County school board approved the closure and consolidation of five schools by June 2026 due to declining enrollment, aging facilities, and rising maintenance costs. — School closures can disrupt communities, displace students, and necessitate transitions to new school environments. localmemphis.com
- Memphis-Shelby County Schools' enrollment declined by over 9% in the past decade, losing more than 10,000 students between 2014 and 2024. — Declining enrollment can lead to underutilized facilities and financial strain, potentially impacting resource allocation per student. Chalkbeat
- The 2024-25 budget included job cuts for over 1,000 district positions, with 551 being vacant, to address a $150 million budget gap as federal pandemic relief funds expire. — Job cuts can lead to reduced staffing levels and potential impacts on student support services and programs. Chalkbeat
- A new state law signed in April 2026 blocks Memphis-Shelby County Schools from using public funds to pay for legal challenges against state accountability measures. — This law limits the district's ability to legally contest state interventions, potentially imposing unconsented costs or policies. Memphis Flyer
Bottom line: Memphis-Shelby County Schools is navigating a complex period of financial restructuring and facility modernization while facing state oversight and declining student numbers.
Civic & policy in Memphis, TN Updated 147 days ago
Memphis and Shelby County are seeing significant legislative and policy changes, including new zoning proposals, property tax increases, and state laws impacting local governance and social issues.
Opportunities
- The Shelby County Commission supported a state bill to prevent federal immigration enforcement from using schools and churches as staging areas (March 2026). — This aims to protect students and community members from the disruptive impact of immigration enforcement activities. localmemphis.com
- Memphis City Council amended its public comment policy, allowing residents to keep their addresses private when speaking at meetings (January 2026). — This provides a layer of protection for residents who wish to voice concerns without publicly disclosing personal information. Memphis Flyer
- Tennessee passed a law in 2024 to protect property owners from squatters by establishing an expedited removal process (July 2024). — This removes a significant burden and potential financial cost from legitimate property owners. The Courier
- Memphis implemented reforms beyond zoning, including local code amendments and sprinkler reform, to make missing middle housing more feasible (September 2025). — These changes reduce regulatory barriers, expanding housing options and making development more affordable. Beyond Zoning
Concerns
- Shelby County homeowners should anticipate a substantial increase in property taxes due to the 2025 countywide reappraisal (August 2024). — This will likely result in higher costs for homeowners, even with a potential rollback of the tax rate. Memphis Flyer
- The Shelby County Commission overrode a mayoral veto to put all nine Memphis-Shelby County Schools board seats on the 2026 ballot, shortening terms for some members elected in 2024 (October 2025). — This action nullifies recent votes for some board members and has led to legal challenges regarding voter rights and term cuts. Chalkbeat Tennessee
- The state of Tennessee continues to pass legislation that preempts local control, including bills that would prohibit local governments from adopting certain police reforms (February 2024). — This restricts the ability of local governments to implement policies tailored to their community's specific needs and concerns. MLK50
- A new draft zoning map for Memphis and unincorporated Shelby County, part of the Memphis 3.0 overhaul, is stirring debate due to concerns about upzoning and the future of single-family streets (February 2026). — Proposed changes could allow denser housing in areas currently dominated by single-family homes, potentially altering neighborhood character. Hoodline
- Memphis City Council filed a lawsuit against the Shelby County Election Commission after state officials blocked local gun control measures from the November 2024 ballot (August 2024). — This prevents Memphis voters from directly deciding on proposed local gun safety ordinances, despite local support. localmemphis.com
Bottom line: Memphis residents face a mix of local efforts to enhance community input and housing options, alongside state-level preemption and impending property tax increases.
AI-generated from public web sources. Always verify with official records. Not financial, legal, or investment advice.
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Best ZIP codes in Memphis, TN-MS-AR
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Landlord Ground Truth
Real numbers from people who own or manage rentals in Memphis, TN. Anonymous, moderated, never written by AI.
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Property managers serving Shelby County
Manage rentals here? List your business →Advantage Property Management Llc
Cordova, TN
Advantage Property Management offers property management services in Memphis, TN, and surrounding areas, including Section 8 property management, maintenance, and renovations. summary from their website
Section 8
Unclaimed — is this your business? Claim it free
Enterprise Property Management, Inc.
Cordova, TN
Enterprise Property Management offers property management services in Memphis. summary from their website
Unclaimed — is this your business? Claim it free
Foundation Property Management
Memphis, TN
Foundation Property Management offers property management services in Memphis, TN. summary from their website
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Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
Avg Home Value
$150,680
Avg Monthly Rent
$1,243
1% Rule
✗ Below
Landlord Friendly (TN)
★★★★★
🎓 Colleges & Universities in Memphis
20 Colleges
41,395 Students
5,767 Off-Campus Renters
B
4-Year Private · 1,952 students
B
4-Year Private · 32 students
C+
4-Year Public · 21,736 students
📍 ~2,760 students rent off-campus
C+
4-Year Private · 755 students
C+
4-Year Private · 182 students
C+
Vocational For-Profit · 164 students
C+
Vocational For-Profit · 20 students
C
4-Year Public · 3,121 students
C
4-Year Private · 2,043 students
C
2-Year Public · 1,691 students
📍 ~620 students rent off-campus
C
4-Year Private · 646 students
C
Vocational For-Profit · 63 students
C
Vocational For-Profit · 4 students
C
2-Year Public · 6,980 students
📍 ~2,387 students rent off-campus
C
2-Year Private · 461 students
C
4-Year Private · 525 students
C
4-Year Private · 195 students
C
Vocational For-Profit · 216 students
D
Vocational For-Profit · 189 students
D
2-Year For-Profit · 420 students
Investor Insight: With 5,767 students living off-campus, Memphis has substantial rental demand from the college population — typically stable, lease-renewing tenants.
Neighborhoods in Memphis
Berclair-Highland Heights
28 ZIP codes
Cordova-Appling
28 ZIP codes
Downtown
28 ZIP codes
Eads-Fisherville
28 ZIP codes
East Memphis-Colonial-Yorkshire
28 ZIP codes
Hickory Ridge-South Riverdale
28 ZIP codes
Midtown
28 ZIP codes
Parkway Village-Oakhaven
28 ZIP codes
Raleigh
28 ZIP codes
River Oaks-Kirby-Balmoral
28 ZIP codes
Shelby Forest-Frayser
28 ZIP codes
White Haven-Coro Lake
28 ZIP codes
ZIP Codes in Memphis, TN
38128
Home Value
$146,949
Rent
$1,228/mo
38109
Home Value
$91,802
Rent
$1,162/mo
38111
Home Value
$134,255
Rent
$1,289/mo
38125
Home Value
$279,758
Rent
$1,517/mo
38134
Home Value
$228,119
Rent
$1,274/mo
38116
Home Value
$155,547
Rent
$908/mo
38127
Home Value
$90,463
Rent
$1,077/mo
38118
Home Value
$124,413
Rent
$1,175/mo
38018
Home Value
$291,199
Rent
$1,651/mo
38115
Home Value
$166,446
Rent
$1,057/mo
38117
Home Value
$269,354
Rent
$1,516/mo
38122
Home Value
$125,805
Rent
$1,151/mo
38141
Home Value
$192,027
Rent
$1,597/mo
38104
Home Value
$254,666
Rent
$1,296/mo
38119
Home Value
$294,535
Rent
$1,587/mo
38106
Home Value
$57,039
Rent
$885/mo
38114
Home Value
$74,233
Rent
$974/mo
38108
Home Value
$70,295
Rent
$992/mo
38112
Home Value
$124,787
Rent
$1,254/mo
38107
Home Value
$109,789
Rent
$1,249/mo
38103
Home Value
$321,396
Rent
$1,559/mo
38120
Home Value
$428,170
Rent
$1,425/mo
38126
Home Value
$76,399
Rent
$842/mo
38105
Home Value
$111,586
Rent
$1,158/mo
38152
Home Value
$0
38132
Home Value
$0
38113
Home Value
$0
38131
Home Value
$0
Screen every ZIP in Memphis
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View PlansFrequently Asked Questions About Memphis, TN
How strong is Memphis, TN for real estate investors?
Memphis, TN rates 3.5/5 for investability. With median values at $151K and rents near $1,243/mo, the market offers reasonable fundamentals for rental investors.
Where do rents currently stand in Memphis, TN?
The typical rental in Memphis, TN commands about $1,243/mo monthly. That rent profile stable cash flow against the $151K purchase basis.
What real estate strategy is ideal for Memphis, TN?
Memphis, TN investors pursuing steady buy-and-hold investing. The underlying economics ($151K prices, $1,243/mo rents) make it a reasonable choice.
Is Memphis, TN a good market for FHA house hackers?
Memphis, TN offers an attractive house-hacking opportunity. Small multifamily or rent-by-the-room plays can pair well with the $1,243/mo rent level.
Is TN a landlord-friendly state?
Landlord-friendliness in Memphis, TN is landlord-friendly. Eviction timelines and lease enforcement are considered reasonable by most property managers.
Community Ratings
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