Welcome to Memphis, Tennessee, a city bursting with history, culture, and endless opportunities. But besides its iconic landmarks and bustling avenues, it's home to plenty of up-and-coming neighborhoods just waiting to be discovered.
If you're a savvy investor with an eye for potential, you'll want to keep a close watch on these dynamic districts. Luckily, we can help.
Learn about the top Memphis neighborhoods for real estate investing.
South Main Arts District
When you're looking at Memphis neighborhoods, don't neglect the South Main Arts District. The South Main Arts District is known for its standout arts scene, with tons of amazing galleries, studios, and cultural events. This artistic atmosphere can attract both residents and visitors.
The presence of galleries, boutiques, restaurants, and entertainment venues in the South Main Arts District attracts tourists and locals alike. This foot traffic can benefit businesses and properties in the area, potentially leading to higher rental yields and property values.
That also means it's a great spot if you're considering vacation rentals. Just make sure you invest in vacation property management!
Binghampton
Compared to other neighborhoods in Memphis, Binghampton may offer more affordable property prices, making it accessible for investors with smaller budgets or those looking for entry-level opportunities in the market. If you're looking for your first rental property, it might be the spot for you.
Binghampton's location in northeast Memphis provides convenient access to Midtown and downtown areas, which are hubs for employment, entertainment, and amenities. This proximity can attract renters or homebuyers who want to be close to urban conveniences.
The neighborhood has a strong sense of community, with active associations and community organizations driving local initiatives. Investing in such a community-oriented neighborhood can contribute to long-term stability.
Downtown Memphis
Downtown Memphis boasts a rich history and architectural heritage, with lots of buildings dating back to the 19th and early 20th centuries. Renovating and repurposing historic properties can offer unique investment opportunities, catering to the growing demand for character-rich living and working spaces.
Landmarks such as Beale Street, the National Civil Rights Museum, and the Orpheum Theatre add to the area's appeal and draw visitors and residents alike. Investing in commercial properties downtown can capitalize on the vibrant tourism and hospitality industry.
Medical District
The concentration of medical institutions and educational facilities in the Medical District can lead to high rental demand and the potential for attractive rental yields. Investors can capitalize on the steady influx of tenants seeking housing options in the area.
It especially has the potential for stable long-term leases from healthcare professionals and students.
Investors interested in commercial real estate can benefit from the demand for office and laboratory space from healthcare-related businesses, startups, and technology firms seeking to leverage the district's resources and expertise.
Start Real Estate Investing in These Memphis Neighborhoods Today
Now that you know the most lucrative Memphis neighborhoods, it's time to start real estate investing.
Do you want help taking care of your new investment properties? Look into property management services from PMI of Memphis. Our franchise has been committed to helping landlords like you for two decades.
Contact us today.
