Loading...
Memphis Real Estate For Sale In TN
Memphis is a vibrant city that cherishes a love for music, good BBQ, and was the home of a small, indie artist you may know named Elvis Presley. But Memphis is more than just swinging hips and blues music (although, that’s a lot of it); this Tennessee city is known for a variety of things, from business ventures to interesting cuisine. Memphis has a population of around 650,000 residents, and more people keep on coming. When it comes to Tennessee real estate, Memphis offers affordable real estate prices which make it a hot spot for out-of-state investors and home buyers alike, so keep reading for all the insight you need on moving to and purchasing real estate in Memphis.
Memphis TN Real Estate Market
The Memphis real estate market is one of the best in the nation in comparison to 300 other cities. However, like many U.S. cities, Memphis real estate reflects a state of low supply and high demand, making prices rise. This influx of demand for real estate in Memphis also means that the final offer for homes is rising well above the listing price. The median price of Memphis homes for sale is about $223,000, with luxury estates in Central Gardens for up to $409,000 and more affordable homes in Binghampton for as low as $65,000.
When it comes to renting, there are several options. Real estate investors from out of state have displayed a pattern of buying properties in Memphis and renting them out to residents. The average cost of a rental unit in the Memphis real estate market is $933, and 75% of properties for rent in Memphis cost less than $1000 a month. High-end neighborhoods for renters in Memphis include Downtown, River Oaks, and Mud Island, while more affordable areas include Alcy-Dunn, Orange Mound, and Southgate.
Distance to Nearby Cities
- 197 miles to Nashville, TN
- 215 miles to Birmingham, AL
- 240 miles to Saint Louis, MO
- 324 miles to Louisville, KY
Schools In Memphis TN
Education in Memphis consists of a wide range of public and private institutions. Shelby County Schools provides primary and secondary education across the Memphis metro area, including a number of charter schools and some with religious affiliations. If you’re looking to further your education, Southwest Tennessee Community College, University of Memphis, and Rhodes College are among the many universities in the area. Memphis is also a hotspot for nursing and healthcare, with St. Jude Children’s Research Hospital providing world-class medical research and the Memphis Training School for Nurses taking the lead for training.
Things To Do In Memphis TN
Real estate in Memphis is full of delicious BBQ, live music, and exciting history. You’ll always learn something new when spending a day out on the town, and here are some of our favorite places to visit:
- Sun Studio- Sun Studio is the most famous recording studio in Memphis, Tennessee. The studio was started by Sam Phillips in January of 1950. This studio has recorded some of the best musicians to date, including Johnny Cash, Elvis Presley, Jerry Lee Lewis, Carl Perkins, Roy Orbison, and B.B King just to name a few! If you are interested in getting the Sun Studio experience, consider taking a tour. The tours start in the front of the building and take you through various rooms and hallways to show how artists used to record music before digital technology took over.
- Graceland- Graceland is the second most visited house in the United States. It was owned by Elvis Presley who bought it in March of 1957, making Graceland Tennessee's only historical home with an international following. The estate includes 13 acres and 22 rooms, including a music room, pool hall, and trophy building! Tours take place every half hour and last about an hour or so with memorabilia, stories of Elvis' life, and more!
- National Civil Rights Museum- The National Civil Rights Museum is a must-see if you are in Memphis. The museum stands on the site of Dr. Martin Luther King Jr's assassination and aims to educate people about civil rights throughout history. The museum even features an exhibit that displays the Rosa Parks bus, which sparked the Montgomery Bus Boycott! This wonderful museum is open every day of the week.
- Stax Museum of American Soul Music- Stax Museum of American Soul Music is a museum where you can learn about the history of soul music. The Stax label was integral to the development and success of Memphis music in the 1960s and 1970s, and it was actively involved with the Civil Rights Movement. In 2006, it was added to the National Register of Historic Places. There are various exhibits from artists such as Otis Redding, Isaac Hayes, and Booker T. & the MGs, which you can see on a guided tour!
- Memphis Zoo- Memphis Tennessee is home to a large number of attractions but none are as iconic and family friendly as the Memphis Zoo. The zoo has over 2000 animals representing over 650 species including polar bears, penguins, and elephants. This Zoo is open every day of the week and hosts a number of events throughout the year, such as Boo at the Zoo during Halloween or their annual Wine to Whales event!
- The Peabody Ducks- Even locals have to take part in the Peabody Ducks tradition. This tradition takes place at the luxurious Peabody Hotel. Every day at 11:00 AM sharp you can see them march into their fountain with music playing in celebration! People say that if they don't make it to the fountain on time, then good luck will not come your way for the rest of the day (no pressure on the ducks or anything).
- Beale Street- Beale Street is the heart of Memphis Tennessee's entertainment district. It has a rich musical history that dates back to the 1920s when W.C. Handy wrote "Memphis Blues" on Beale Street! Today, there are countless bars and music venues where you can enjoy live acts every night of the week. Make sure to stop by Hard Rock Café for their famous FedEx Memphis Blues Burger!
- Memphis Rock ‘n’ Soul Museum- Memphis, Tennessee is known for its rich musical history and the Memphis Rock n Soul Museum is a celebration of that! The museum has exhibits from musicians such as Elvis Presley, Johnny Cash, Aretha Franklin, and B.B King. If you are in town on the last Saturday night of each month, be sure to stop by when they host their fantastic Soul Saturday. There are live performances and Memphis Blues BBQ!
- Burkle Estate Museum- The Burkle Estate Museum is a museum dedicated to the history of African Americans in Memphis, Tennessee. It highlights the role that Memphis played as one of the key hubs on The Underground Railroad and how this city stood up against slavery. It has important artifacts that date back since before the 1830s and other educational exhibits that are sure to teach you something new.
Day Trips
Looking to get out of Memphis for the day? There are several nearby day trips you can take within several hours of the city. Here are some of the best ones:
- Nashville, TN- Nashville, Tennessee is another vibrant city with a rich musical history. It was the birthplace of some of America's best known musicians from Johnny Cash to Dolly Parton and has been dubbed Music City for this reason. If you are planning on visiting, make sure to check out RCA Studio B where Elvis Presley, Roy Orbison, and Chet Atkins recorded some of their biggest hits! There are dozens of bars, music venues, and restaurants to try, so your visit will never get boring! During the summer months, there's also an abundance of festivals such as CMA Music Festival where country music fans from around the world come together to celebrate.
- Hatchie National Wildlife Refuge- Hatchie National Wildlife Refuge is one of the best places to take your family if you are looking for an outdoor adventure. It has over 12,000 acres of land and hosts a variety of activities. You can see all kinds of animals, including elk, deer, coyotes, eagles, and many more. While you are here, make sure to stop by the visitor center for an interactive experience where you can learn about all the amazing plants and animals that inhabit this area. This day trip is only 50 minutes from Memphis, but it will feel like you’ve entered a new world!
Parks In Memphis TN
- Meeman-Shelby Forest State Park- Meeman-Shelby Forest State Park is one of the most popular parks in Tennessee for good reason. It's home to over 100 miles of trails that are open year round, making it possible to visit at any time during daylight hours. This park has an abundance of wildlife, including raccoons, foxes, and deer, all of which you can see while you are hiking. If fishing is your thing, Meeman-Shelby Forest has some of the best bass fisheries in Tennessee!
- Chickasaw State Park- Chickasaw State Park is a beautiful state park located an hour and a half from the Memphis, Tennessee, area. The trails are open to hikers, runners, and bikers all year round, so you can visit at any time! It's also perfect for fishing or kayaking as it has over 350 acres of water that guests have access to. You can also visit their museum, which holds an amazing collection of Native American artifacts collected from nearby sites, such as pottery and arrowheads.
- Shelby Farms Park- Shelby Farms Park is a large urban park located near the center of Memphis, Tennessee. There are various activities and attractions such as horseback riding, mountain biking, and even paddle boating! The park is open every day so you can visit any time during daylight hours for free. Shelby Farms Park has been recognized by many publications, including National Geographic, as one of the best parks in America!
Living In Memphis TN
Memphis, TN, has a youthful and diverse population and has grown by 4% over the past decade. With so many rental properties available in the Memphis real estate market, it has become a prime spot for young professionals, with a cost of living that is 5% lower than the national average. CBS News ranked Memphis, Tennessee, as one of the 10 cheapest cities to live in the country!
With all the money you save on real estate in Memphis, you’ll have the bandwidth to see the many activities the city has to offer. The Memphis, TN, metro area is covered in venues, galleries, and events that honor the musical heritage of the city. The Orpheum Theatre Memphis is an excellent place to catch a theatrical performance and the Levitt Shell amphitheatre provides a venue to see some of your favorite musicians. Walk down the iconic Beale Street and listen to up-and-coming bands or street performers while you search for some incredible Memphis-style barbecue. Speaking of barbecue, if you have an old family recipe that can’t be beaten, you’ll want to participate in the World Championship Barbecue Cooking Contest during the Memphis in May Festival.
For sports fans, look no further than the FedExForum, home of the Memphis Grizzlies. If the game isn’t until the evening, head downtown early and visit the National Civil Rights Museum or go see some furry friends at the Memphis Zoo. Whether you enjoy music, food, entertainment, or all of the above, Memphis provides it all.
Memphis TN Job Market
Memphis’ population is consistently growing, and the employment opportunities tend to grow with it. Bloomberg has ranked real estate Memphis, Tennessee, as the #1 metro area in the United States for job creation for the past decade! Major employers in the Memphis area include International Paper, FedEx, and Mueller Industries. Not only are there several well-established companies in Memphis real estate that offer employment, but Memphis is also very entrepreneur friendly. The quirky atmosphere of Memphis calls for unique, new businesses that pop up every other week. Small businesses make up 29% of Memphis’ economic output, and that number keeps growing! Epicenter and Pathway Lending are encouraging Memphis’ entrepreneurial spirit by providing the $15 million Memphis Small Business Opportunity Loan Fund, which improves access to capital and makes it easier for locals to fund new businesses.
Transportation In Memphis TN
Real estate in Memphis is a generally spread-out, so it’s in your best interest to have a car when moving here. Between I-40, I-55, I-69, and I-240, you’ll never be at a loss for how to get somewhere. Even if you are looking to travel along the outskirts of town, I-269 provides the best path. While Memphis may not be easily walkable, it is one of the best cities in the nation for biking. Memphis offers over 60 miles of trails, an excellent bike share program, and unique spots for you to bike through. One of the most well-loved paths in Memphis is the Shelby Farms Greenline, which runs for 10.5 miles and connects downtown Memphis to Shelby Farms Park. If you’d rather go old school and take the bus or a trolley, Memphis Area Transit Authority (MATA) offers Memphis residents with 47 bus routes and three trolley lines. The historic MATA Trolley runs through the downtown area, while the bus travels throughout downtown and the outlying suburbs. Memphis International Airport is the place to go if you need to catch a flight, with both domestic and international departures to choose from every day.