Apartments for rent Memphis, TN
Elvis Presley, B.B. King, Johnny Cash- three legends can't be wrong. If these three men were taken by Memphis, TN, then we've just got to believe there's something to it. Turns out, there is.
Memphis is a gorgeous city with soul seeping out of its pores. It's the largest city in Tennessee, clocking in at just around 600k residents, but it still rocks a friendly vibe. Memphis prides itself on being a fun place for residents and visitors. From the flashy neon signs of Beale Street to the unique shape of it's venue, the Memphis Pyramid, it's not at all a modest or unassuming town.
But for everything gregarious about Memphis, it's also got some fantastic outdoor activities. From strolling the banks of the Mississippi to biking the Big River Crossing Trail, outdoorsy types have plenty to do in Memphis. And for good reason-- the city has mild winters and hot, humid summers. It lends itself to being outside as much as your heart desires.
Considering a move to Memphis? Here's some things to consider.
Cost of living
Overall, Memphis has a lower than average cost of living, compared to the rest of the US. As a popular tourist destination, entertainment and dining comes at a premium. However, rental prices in Memphis are very reasonable. Keep in mind that this is an average-- Memphis has cheap apartments in several low-income neighborhoods but also has high-end loft apartments in more desirable neighborhoods. That's why it's important to do your research when looking for apartments for rent in Memphis. Consider neighborhoods, especially if the rent prices seem too good to be true.
Apartment Rental Statistics Memphis, TN
Renting tips & advice
Consider Your Needs
Lots of apartments in Memphis come with amenities-- pools, fitness centers, club houses. Do you really want a pool with your apartment? If the answer is no, you can find more bare bones apartments with lower rent. If you want more space and don't mind being further outside of town, look for an area like German town for townhomes for rent. They offer accessibility to Memphis proper and are in very safe neighborhoods.
Invest (If You Can)
Memphis is considered a smart place to invest in real estate right now. If you can afford to buy and plan on staying a few years, consider buying rather than renting. Many landlords offer rent to own homes, which is lower risk than buying the house outright. Large US cities are seeing an uptick in new residents and very few continue to have reasonably priced apartments for rent. Strike while the iron is hot and your Memphis investment is likely to pay off.
Do your research-- there's plenty of great neighborhoods to rent in Memphis, but double check walk scores and crime statistics before you commit to a rental. Apartment finders online often group apartments for rent into neighborhoods, so that's a great way to get a start on orienting yourself with the different 'hoods in Memphis.
Get your paperwork in order-- have a binder with references, bank statements, credit reports, and the like prepared. Memphis may still be on the ground floor with regards to development, but there's plenty of other bargain hunters out there right now. You, however, deserve to find your dream home! Happy hunting!