Memphis, TN, is an affordable city to live in. The entertainment options are endless, and the weather is great. Music is the soul of Memphis. There are a lot of outdoor activities, and commutes are short. There are a lot of great neighborhoods and school districts too. All of this is very attractive to millennial buyers or renters, not to mention that the cost of living in the city is cheaper than most of the United States.
Quick facts:
- The population in Memphis is 651,073
- The average household income is $59,730
- The average rental fee is $825
- The median home value is $106,412
Memphis, TN in a nutshell
The city has a lot of real estate potential because the pros of living in it are pretty attractive. There are a lot of affordable homes, the cost of living is cheap, a dependable healthcare system, top-quality education facilities, and the best part is the state of Tennessee does not have an income tax law. This means that one’s salary is all theirs.
Job Opportunities
Memphis is said to be one of the best cities for startups. This is because they have great corporate tax laws, resources, and the office spaces have low rent prices. The industry variety is also large, so any business can grow and flourish here. Some of the biggest companies that call Memphis home are FedEx, AutoZone, and International Paper Co. There is a huge growth in tech companies as well.
Outdoor Living
Anyone who enjoys the great outdoors will enjoy living in Memphis. There are a lot of activities one can do in any weather. There are different trails to trek in, bike lanes, forests, and parks. Every day seems like a holiday as the city has endless events. When you step outside, there will probably be a music event or a food and wine festival. This city won’t let you get bored.
Weather
The four seasons cycle through Memphis. That is summer, spring, winter, and fall. The changes in the weather make it comfortable for locals to live there and work all year round. The summers are long, and that’s one great pro in living there because of all the outdoor living one can do.
Real Estate in Memphis, TN
Memphis has a lot of great neighborhoods and school districts. They also have a big industry selection. So anyone who is looking to move to a comfortable and exciting city, then Memphis it is. One big pro in living in Memphis is the cost of living and affordable home prices. This helps real estate agents to sell houses fast. There were 732 homes sold this year which is 5.5% higher than 2020. Some homes get multiple offers, and each listing stays on the market for 28 days on average.
Final Thoughts
The fact that Memphis is one of the cheapest places to live in makes it attractive in itself. Add in great entertainment, schools, and job opportunities - this place really has potential for any realtor looking to sell a lot of properties to people looking for a city to move into.
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