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Interested in investing in the Memphis market?? Here are a few things about the city that make it a great place to invest!!

Memphis is rated as one of the ten best cities for startups

Memphis is the 7th best city to start a business in the US. The availability of resources, attractive corporate taxes, labor costs, industry variety, and the affordability of office space per square foot play major roles in making Memphis a hot start-up destination.

Affordable homes

One of the great things about Memphis is affordable accommodation. You can rent a studio apartment for $683 and a one-bedroom house for $770. The monthly rent for a two-bedroom home is approximately $908 while a three-bedroom house is $1,240.You can buy a medium house in Memphis for $124,779, which is much lower than the national average. However, home values have gone up 19.7% over the past year.

What's the average cost of buying a home in Memphis, TN?

One of the best parts of moving to Memphis is that the city's real estate market is known for having some of the most affordable homes in the entire United States. More than 50% of Memphis residents are homeowners and the city's real estate value is constantly on the rise. Here's a simple analysis of Memphis real estate market:

  • Memphis, TN median home value is $106,412
  • Single-family detached homes are the most common types (60.10%) of homes in Memphis
  • Three- and four-bedroom homes are the most common building type and size
  • Memphis real estate cumulative appreciation rate over the ten years has been 34.26
  • Memphis homes annual average appreciation rate is 2.99%
  • At 6.42% appreciation rate in the past 12 months, Memphis is one of the highest appreciating communities in the nation

How is the job market in Memphis?

The booming economy of Memphis has significantly contributed to the city’s job market. One of the robust economies in the Southeastern United States, Memphis’ job sector highly stresses manufacturing, transportation, and shipping. If you're mulling over moving to Memphis, here are all the key information you need to know about the city’s job market:

  • Three Fortune 500 companies, FedEx, AutoZone, and International Paper Co. are headquartered in Memphis
  • About 34.5% of the jobs are in the manufacturing and transportation sector.
  • Memphis has an unemployment rate of 8.0%.
  • The job market has increased by 2.1% over the last year.
  • The job market in Memphis is expected to grow by about 36% in the next 10 years.
  • The average income of a Memphis resident is $21,909 a year

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