Across the country, real estate has become a seller’s market and Memphis is no different. The median home price in the south in April 2021 was $289,500, a huge increase of 15.8%.
There is no better time to invest than right now, and no better place than Memphis. So many homes in several Memphis neighborhoods are being revived, rehabbed, and put up for sale.
But where should you begin when investing in Memphis property? This guide covers all the best neighborhoods in Memphis where you should invest.
Riverside
It will not surprise you to learn that Riverside is an area of South Memphis right on the Mississippi River. This neighborhood includes Martin Luther King, Jr. Riverside Park, Kansas Street, and Carver High School.
Memphis neighborhoods in the south of the city have a bad reputation for their high crime rates but things are changing. Owners of the single dwelling homes in Riverside are fixing up their properties at a rapid pace and selling them within days of their listings.
Often, reputations and information become outdated fast. They likely do not reflect the current circumstances of a neighborhood. The Memphis real estate market also moves fast and you can find more information and help via this link.
Sea Isle Park
Because of low inventory city-wide, the best Memphis neighborhoods for investing are not always the most obvious ones. Take Sea Isle Park, for example. There may not be much of note within the neighborhood itself but it is close to lots of amenities.
There are several hotels just north on Poplar Avenue, it is close to good schools and hospitals, and East Memphis is super near too. Let’s not forget about Eastgate Shopping Center either.
It is one of the best Memphis neighborhoods for families and the real estate market is hotting up there.
Soulsville
Soulsville is a historic Memphis neighborhood with a great community vibe. It is home to Memphis’s only Historically Black College and University and the former Stax Records. There are lots of other local landmarks and murals, and an emphasis on preserving art and culture.
Location is super important to prospective buyers and Soulsville is one of the best re-emerging, vibrant, and popular Memphis neighborhoods at the moment.
East Memphis
East Memphis is, and always has been, a well-loved part of the city. Some might argue it is more of a region than a neighborhood. It does have subdivisions like Sherwood Forest and High Point Terrace, but it operates as one area.
The University of Memphis is in this part of the city as well as upscale shopping facilities like Oak Court Mall. It is near many of the top hotels and has many great schools and other highlights like the Memphis Botanic Gardens.
It hosts the highest number of residential homes in the city so it will always be a popular Memphis neighborhood for buyers. If you can afford to invest in real estate in this neighborhood, you 100% should.
Memphis Neighborhoods on the Rise
There are pros and cons to buying property in each of these Memphis neighborhoods and others throughout the city. But if you choose the right up-and-coming neighborhood, you could see a fantastic return.
Want to read more travel and real estate articles? Browse our website for tons of expert advice!