Real Estate Investing in Shelby County, Tennessee

Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.

32 ZIP codes • Population: 890,617

Should you buy in Shelby County, TN? Our answer, based on the numbers below.

🏠 For Homebuyers
MIXED
Grade C (63/100)

Mixed signals β€” some positives, some negatives. Worth considering but not a slam-dunk.

πŸ“ˆ For Investors
GOOD
3.4 / 5 (62/100)

A cash-flow market β€” rent-to-price math works from day one, though value growth is modest. Great for income-focused investors.

⚠️ Risks to Know
1 flag
  • Elevated vacancy: 11.0% vacancy may signal weakening demand.

What’s happening in Shelby County, TN?

Click any question — our AI will research it live from the web and show you sources.

✨ Live AI + Web Search
Want to ask your own questions? Upgrade to Pro for unlimited custom queries.
3.4/ 5

Investability

County-wide average

2.0/ 5

Appreciation

2.9% 5yr CAGR

5.0/ 5

Landlord Climate

Regulatory friendliness

Avg Investability β˜…β˜…β˜…β˜…β˜…
Avg Home Value $238,393
Avg Monthly Rent $1,433
ZIP Codes 32

Investing in Shelby County Real Estate

Across Shelby County's 32 ZIPs, the picture is lackluster β€” soft rents, slow appreciation, and demographic headwinds that don't obviously reverse in the medium term.

A 3.4 rating and a 0.0% 5-year CAGR are the kinds of numbers that warrant real local underwriting. Shelby County sits firmly in that category.

Distressed-leaning demographics in Shelby β€” soft income growth, high rent burden, population shifts β€” are among the reasons the β˜…β˜…β˜…β˜†β˜† rating sits where it does.

A great house in the wrong ZIP is still a bad deal — screen every market by cash flow & cap rate.
Open the Market Finder →
Free to search · investor plans from $19/mo

Landlord Ground Truth

Real numbers from people who own or manage rentals in Shelby County, TN. Anonymous, moderated, never written by AI.

Do you own or manage rentals in Shelby County, TN?

~25 seconds · no account needed · your report is anonymous

Property managers serving Shelby County

Manage rentals here? List your business →

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 β€” is this your business? Claim it free

Enterprise Property Management offers property management services in Memphis. summary from their website

Unclaimed β€” is this your business? Claim it free

Foundation Property Management offers property management services in Memphis, TN. summary from their website

Unclaimed β€” is this your business? Claim it free

Listings are shown for convenience β€” Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.

Avg Home Value
$238,393
Avg Monthly Rent
$1,433
1% Rule
βœ— Below
Landlord Friendly (TN)
β˜…β˜…β˜…β˜…β˜…

πŸŽ“ Colleges & Universities in Shelby County

20 Colleges 40,975 Students 5,767 Off-Campus Renters
B
Rhodes College
4-Year Private Β· 1,952 students
B
Mid-South Christian College
4-Year Private Β· 32 students
C+
University of Memphis
4-Year Public Β· 21,736 students
πŸ“ ~2,760 students rent off-campus
C+
Baptist Health Sciences University
4-Year Private Β· 755 students
C+
Visible Music College
4-Year Private Β· 182 students
C+
Gould's Academy
Vocational For-Profit Β· 164 students
C+
Gould's Academy
Vocational For-Profit Β· 177 students
C+
Massage Institute of Memphis
Vocational For-Profit Β· 20 students
C
The University of Tennessee Health Science Center
4-Year Public Β· 3,121 students
C
Christian Brothers University
4-Year Private Β· 2,043 students
C
Tennessee College of Applied Technology-Memphis
2-Year Public Β· 1,691 students
πŸ“ ~620 students rent off-campus
C
Le Moyne-Owen College
4-Year Private Β· 646 students
C
Vibe Barber College
Vocational For-Profit Β· 63 students
C
Health-Tech Institute of Memphis
Vocational For-Profit Β· 4 students
C
Southwest Tennessee Community College
2-Year Public Β· 6,980 students
πŸ“ ~2,387 students rent off-campus
C
William R Moore College of Technology
2-Year Private Β· 461 students
C
Studio 75 Hair Academy
Vocational For-Profit Β· 12 students
C
Southern College of Optometry
4-Year Private Β· 525 students
C
Memphis Theological Seminary
4-Year Private Β· 195 students
C
Empire Beauty School-E Memphis
Vocational For-Profit Β· 216 students

Investor Insight: With 5,767 students living off-campus, Shelby County has substantial rental demand from the college population β€” typically stable, lease-renewing tenants.

Cities in Shelby County

ZIP Codes in Shelby County, TN

38017 β˜… β˜… β˜… β˜… β˜…
Collierville
Population 56,427
Avg Home $513,709
Avg Rent $1,982/mo
38016 β˜… β˜… β˜… β˜… β˜…
Cordova
Population 44,390
Avg Home $294,872
Avg Rent $1,585/mo
38128 β˜… β˜… β˜… β˜… β˜…
Memphis
Population 44,027
Avg Home $146,949
Avg Rent $1,228/mo
38002 β˜… β˜… β˜… β˜… β˜…
Lakeland
Population 43,868
Avg Home $411,779
Avg Rent $2,025/mo
38109 β˜… β˜… β˜… β˜… β˜…
Memphis
Population 43,764
Avg Home $91,802
Avg Rent $1,162/mo
38111 β˜… β˜… β˜… β˜… β˜…
Memphis
Population 43,308
Avg Home $134,255
Avg Rent $1,289/mo
38134 β˜… β˜… β˜… β˜… β˜…
Memphis
Population 42,500
Avg Home $228,119
Avg Rent $1,274/mo
38116 β˜… β˜… β˜… β˜… β˜…
Memphis
Population 41,393
Avg Home $155,547
Avg Rent $908/mo
38127 β˜… β˜… β˜… β˜… β˜…
Memphis
Population 39,553
Avg Home $90,463
Avg Rent $1,077/mo
38118 β˜… β˜… β˜… β˜… β˜…
Memphis
Population 39,162
Avg Home $124,413
Avg Rent $1,175/mo
38018 β˜… β˜… β˜… β˜… β˜…
Memphis
Population 38,357
Avg Home $291,199
Avg Rent $1,651/mo
38115 β˜… β˜… β˜… β˜… β˜…
Memphis
Population 36,878
Avg Home $166,446
Avg Rent $1,057/mo
38135 β˜… β˜… β˜… β˜… β˜…
Bartlett
Population 30,490
Avg Home $301,004
Avg Rent $1,896/mo
38117 β˜… β˜… β˜… β˜… β˜…
Memphis
Population 26,327
Avg Home $269,354
Avg Rent $1,516/mo
38138 β˜… β˜… β˜… β˜… β˜…
Germantown
Population 25,368
Avg Home $440,153
Avg Rent $2,342/mo
38053 β˜… β˜… β˜… β˜… β˜…
Millington
Population 25,352
Avg Home $245,137
Avg Rent $1,595/mo
38122 β˜… β˜… β˜… β˜… β˜…
Memphis
Population 25,310
Avg Home $125,805
Avg Rent $1,151/mo
38141 β˜… β˜… β˜… β˜… β˜…
Memphis
Population 23,768
Avg Home $192,027
Avg Rent $1,597/mo
38104 β˜… β˜… β˜… β˜… β˜…
Memphis
Population 22,925
Avg Home $254,666
Avg Rent $1,296/mo
38119 β˜… β˜… β˜… β˜… β˜…
Memphis
Population 22,332
Avg Home $294,535
Avg Rent $1,587/mo
38106 β˜… β˜… β˜… β˜… β˜…
Memphis
Population 21,827
Avg Home $57,039
Avg Rent $885/mo
38133 β˜… β˜… β˜… β˜… β˜…
Bartlett
Population 21,153
Avg Home $275,183
Avg Rent $1,568/mo
38114 β˜… β˜… β˜… β˜… β˜…
Memphis
Population 20,440
Avg Home $74,233
Avg Rent $974/mo
38108 β˜… β˜… β˜… β˜… β˜…
Memphis
Population 18,501
Avg Home $70,295
Avg Rent $992/mo
38112 β˜… β˜… β˜… β˜… β˜…
Memphis
Population 16,798
Avg Home $124,787
Avg Rent $1,254/mo
38139 β˜… β˜… β˜… β˜… β˜…
Germantown
Population 16,298
Avg Home $596,741
Avg Rent $3,263/mo
38107 β˜… β˜… β˜… β˜… β˜…
Memphis
Population 14,254
Avg Home $109,789
Avg Rent $1,249/mo
38103 β˜… β˜… β˜… β˜… β˜…
Memphis
Population 14,025
Avg Home $321,396
Avg Rent $1,559/mo
38120 β˜… β˜… β˜… β˜… β˜…
Memphis
Population 13,249
Avg Home $428,170
Avg Rent $1,425/mo
38028 β˜… β˜… β˜… β˜… β˜…
Eads
Population 7,699
Avg Home $610,720
Avg Rent $1,287/mo
38126 β˜… β˜… β˜… β˜… β˜…
Memphis
Population 5,723
Avg Home $76,399
Avg Rent $842/mo
38105 β˜… β˜… β˜… β˜… β˜…
Memphis
Population 5,151
Avg Home $111,586
Avg Rent $1,158/mo

Screen every market in Shelby County

Filter this county’s ZIPs by cap rate, vacancy, appreciation and 30+ more criteria, and export your shortlist to CSV — with the Investor plan ($19/mo). Add weekly alerts when these markets move with Investor Pro+.

View Plans

Frequently Asked Questions About Shelby County

What is the typical home price in, TN?

Median home price in, TN is near $238K, with a 5-year CAGR of 0.0%. Prices have been predictable and supportive of buy-and-hold strategies.

Is vacancy a concern in, TN?

, TN vacancy trends elevated. Investors running standard buy-and-hold plays see reasonable downtime between tenants.

Are eviction rules reasonable in, TN?

Rental owners in, TN deal with a tenant-protective legal framework. Most standard eviction processes run on reasonable timelines.

What is the best play in, TN?

The best-fit strategy in, TN is careful cash-flow rentals with hands-on management. That approach the rent and price profile of the market.

Community Ratings

What people who’ve spent time here actually say. Not paid reviews.

Be the first to rate Shelby County, TN.

It takes 30 seconds. No signup. Your rating helps everyone who comes here after you.