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Best Neighborhoods for Rental Property in Memphis

Whether you’re looking for a trendy area of town or somewhere that’s perfect for the family, Memphis is a great place to invest in real estate. With lower rental prices and the infrastructure and resources of a big city, the neighborhoods in and around Memphis are great, affordable places to live. In this blog, we’ll highlight a few popular neighborhoods in the area so you have all the information you need to make a great investment. Some of the best neighborhoods for rental property in Memphis are:

  • Berclair
  • Raleigh
  • Whitehaven
  • East Memphis

Berclair

A funky, yet family-friendly suburb in Memphis, Berclair is home to many 3 and 4 bedroom homes built in the 40’s and 60’s. This small town is well-loved by those who call it home, with beautiful outdoor scenery and plenty of entertainment for everyone. 

The Best Bang for Your Buck

One of the most attractive qualities of Berclair is the low rental prices. This area offers decently-sized homes for a great price, while still being in a safe area with quick access to grocery stores and other necessities. The real estate market in Berclair is ideal for families needing an affordable rental property with multiple bedrooms, without having to sacrifice a unique, historic flair.

Parks and Green Spaces

This neighborhood is home to six different parks, and more green spaces are being created every day. These spaces are used for everything from soccer fields to community gardens, and they have their own committee in charge of keeping them clean and renovated. Some of these beautiful areas include:

  • Gragg Park
  • John F. Kennedy Park
  • Avon Park
  • J.J. Brennan Park

Summer Avenue

Berclair is also known for Summer Avenue, a lively street running through the east side of the neighborhood. Summer Ave is home to a lot of unique, specialty shops, ethnic restaurants, and authentic food trucks, making it the place to be in this area. Some unique items and food you can get here are:

  • Paletas
  • Vintage bicycles
  • Authentic mexican tacos
  • Western chic clothing
  • Psychic readings
  • Vintage clothing and home decor
  • Homemade biscuits

VIEW BERCLAIR INVENTORY →

Raleigh

Raleigh is a suburb located about two hours east of Memphis and is home to some unique, historical sites. It’s one of the most historic cities in Tennessee, and was home to notable U.S. figures, including several presidents. This area has grown over the years to become a thriving, family-oriented community. With lower rental prices on single family homes, Raleigh is ideal for families with a budget that are looking for a peaceful, suburban neighborhood.

Museums & History

If you’re a history buff, Raleigh is the place to be. This area is full of museums to visit, ranging from art to civil rights. Whether you’re having a date night or a weekend outing with the kids, explore one of these museums in or near Raleigh:

Boutiques

There’s no shortage of shopping opportunities in Raleigh! The heart of this neighborhood has an incredible selection of boutiques and specialty shops. Some local favorites are:

  • Vibing Stylez Boutique
  • Taylor’s Closet
  • Glam Headz

Lake Days

This area is home to the Epping Way area of the Wolf River Greenway, a 26 mile trail that runs through eastern Memphis. The Epping Way section of this trail boasts a 25-acre lake for fishing and paddling and over a mile of paved trails. There’s even a floating boat dock that extends out onto the lake for fishing. So, grab your friends and family and head to Raleigh for a sunny day on the lake!

VIEW RALEIGH INVENTORY →

Whitehaven

With close proximity to downtown Memphis, Whitehaven is a great spot for those looking to stay close to the city without having to pay premium rental prices. This area is a suburb with an urban feel — peaceful and neighborly, but with plenty to do and even some tourist traffic. Whitehaven is a wonderful spot for young professionals and families looking for a cozy home without having to give up city life.

Graceland

If you’re a rock and roll fan, Whitehaven should be the next stop on your list! This neighborhood is home to Graceland, Elvis Presley’s mansion. You can explore his beautiful home, walk through the gardens, and even tour the plane he traveled on from show to show. Then, go next door to Elvis Presley's Memphis entertainment complex and see some of his legendary costumes, artifacts, and personal mementos! 

Unique Real Estate

Whitehaven has a high concentration of homes that were built between 1940 and 1970, making for some unique real estate options. Because of this, the neighborhood has a look and feel that harkens to a historic era in American life. You can expect to find vintage art deco and mid-century details sprinkled throughout the homes in this area, making Whitehaven truly one-of-a-kind.

Authentic Eats

This neighborhood is home to authentic, southern-style cooking. From barbecue to catfish, locals know where to go for some delicious comfort food in Whitehaven! Some popular restaurants include:

  • Tastee Bar-B-Q
  • Captain D’s Seafood
  • Bells Catfish and Soul Food
  • Suga Mama’s Snoballs

VIEW WHITEHAVEN INVENTORY →

East Memphis

Great for young professionals that want to escape the hustle and bustle of downtown, East Memphis offers suburban-style living with a short commute to the city and plenty to do. With lower rental costs compared to its surrounding areas, this neighborhood is the perfect combination of location and price.

Local Dining

From upscale restaurants to diners, this neighborhood is home to tons of popular, local eateries. In fact, one of the most popular restaurants in the area, Andrew Michael Italian Kitchen, was a finalist for a James Beard award! Some other local favorites include:

  • Erling Jensen
  • Buckley’s
  • Las Delicias
  • Owen Brennan’s

Nature

East Memphis is the best of both the big city and beautiful rural areas. The Shelby Farms Greenline, a 10.5 mile paved trail, runs through this area and eventually reaches Shelby Farms Park, one of the country’s largest urban parks. East Memphis is also home to the Memphis Botanic Garden, so you can spend the day taking in the stunning feats of mother nature.

Commuter-Friendly

This neighborhood is a great choice for those that work downtown but want to live farther away from the city — with short commutes and affordable rental prices, East Memphis is a gem for the young professional! This area also offers attractions that are within walking distance from residential areas, so you can save some extra gas money.

VIEW EAST MEMPHIS INVENTORY →

Let Memphis CashFlow Help You Find the Right Investment Property

Our team at Memphis CashFlow works to provide investors with ideal locations for rental properties. If you are interested in property investment in the Memphis area, contact us today for more information.

Posted by Katie Eldridge at 2:44 PM