Whether you're real estate investor looking for your next property or a prospective renter looking for the best spot to call home, Memphis has a variety of diverse neighborhoods that offer the resources of a big city with the lower rental prices of the suburbs. From quaint single family homes to unique apartments with a city flair, Memphis has it all! In this blog, we'll highlight the best neighborhoods in Memphis for rental properties and discuss the benefits of renting in the area.
popular rental markets in Memphis
With so many neighborhoods and districts in Memphis, it’s important to know which areas can offer you the lifestyle and rental price you're looking for. Whether you're interested in settling down in a long-term family home or want to find the perfect starter house, there is a neighborhood for you. The most popular rental markets in Memphis in 2023 include:
- East Memphis
An East Memphis suburb with a variety of residential and investment properties, Cordova is one of the top rental markets in the city. Because this neighborhood is located just outside of the hustle and bustle of downtown, it offers residents amenities and a suburban lifestyle that they might not get living in the city, like:
- Outdoor nature centers
- Great school systems
- Family-friendly activities
- And more
Cordova is one of the most popular neighborhoods in Memphis for young professionals and families to settle down in long term rental homes. Because this area offers a wide variety of single-family homes, it's a great place to invest in — no matter your budget, real estate investors can find an afforable property in Cordova.
Great for young professionals that want to escape the big-city lfie, East Memphis offers suburban-style living with a short commute to the city and plenty to do. Some favorite local spots include:
- Shelby Farms
- The Memphis Botanical Gardens
- Ciao Bella Italian Grill
- Hog & Hominy
- Brother Junipers
With lower rental costs compared to its surrounding areas, this neighborhood is the perfect combination of location and price. Not only does East memphis offer great real estate prices, but it has a wide variety of housing. Whether you're looking for an affordable apartment or a luxury home, this area has something for everyone!
Interested in living in a vibrant and lively Memphis neighborhood? From newly constructed properties to old homes filled with character, Midtown is a charming area that draws in tourists and Memphis residents alike. This popular neighborhood offers a variety of fun activities and nightlife to enjoy, including:
- Live music
- The Memphis Zoo
- Concert venues
Whether you're a young professional looking to rent a swanky apartment or a real estate investor that's on the hunt for an older home to update, Midtown is the area for you.
Home to the iconic establishment, Graceland, and Memphis culture, Whitehaven brings in thousands of visitors and potential residents every year. As one of the most affordable neighborhoods in Memphis, it's easy to find a rental property that fits your budget. Along with affordable prices and plenty to do, Whitehaven's location is also ideal. Situated right off of I-55 and I-240, your commute through Memphis traffic just got easier!
The Benefits of renting in Memphis
No matter what stage of life you're in, renting in Memphis provides unique benefits that no other city can match, like:
- Low cost of living
- Neighborhood diversity
- Job opprotunities
Low Cost of Living
One major perk of living in Memphis is the opportunity to experience big-city life without a huge price tag. Memphis is one of the largest cities in the United States, and is still able to boast a low cost of living. With affordable home prices for every budget and ample rental investment opportunities, you can enjoy an urban lifestyle without breaking the bank.
Memphis is known for its diversity, culture, and unique history. One reason we love calling Memphis home is that there are so many distinct neighborhoods in and around our city. Our city has homes for every budget, activities for every hobby, and amenities for every need.
Young professionals continue to flock to the city of Memphis for job opportunities. From Fortune 500 companies to local gift shops, this city allows individuals of every age to pursue their career dreams and aspirations.
Rental Properties in Memphis
The team at Memphis CashFlow works to provide investors and potential residents with ideal locations for rental property opportunities. Memphis offers a variety of diverse neighborhoods that come with amenities, making them marketable to investors and appealing to residents.
If you are looking to invest in a Memphis rental property, check out our latest investment properties nearby. Interested in renting a home in Memphis? Contact us for more information on available homes in the area.