Market Conditions in Memphis>Question Details

Wobblysquare, Home Buyer in Memphis, TN

Can any one advise what the rental vacancy rates are is Memphis (by zip or suburb). Or point to a resource that gives this information

Asked by Wobblysquare, Memphis, TN Thu Aug 4, 2011

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Memphis has one of the highest percentages of renters in the country--51%, which puts us in the 98th percentile. That gives us some of the highest occupancy rates. Check out the 'Why Memphis' section on the website below.
0 votes Thank Flag Link Fri Aug 5, 2011
I apologize, I guess I missed reading a key word in your question. The best I could find for vacancy rates for Memphis is 13.5% overall. I haven't come across a resource that breaks it down by area yet but if or when I do I'll be glad to inform you.
0 votes Thank Flag Link Fri Aug 5, 2011
Hazma, thanks for your answer but I am after Rental Vacancy Rates, Not an estimate of the market rent.
0 votes Thank Flag Link Thu Aug 4, 2011
I forgot to mention- a general rule of thumb many owners use when renting out a property is 1000 per 100,000 of the homes actual value typically.
0 votes Thank Flag Link Thu Aug 4, 2011
Zillow.com can give you pretty accurate estimates.

As per my personal knowledge:

Areas around the University of Memphis can range from 400 for a 1 bed to 600 for a 2-3 bed.

38125 rates are usually 750-900 for a 2-3 bed. Any germantown area will be pricy ranging from 1200-1600 for a 3-4 bedroom (38138 and 38139). Collierville can also be quite pricy as these are sought after areas due to demand of the school district.

Many 'Memphis' areas downtown can also be quite expensive ranging all the way up to 1000 for even a 1 bed if you're near the river.

Areas around airways and american way/perkins ave can be pretty cheap such as a 3 bed for around 500.

Let me know if you have any other questions.

Hamza Ibrahim
901-338-3051
First National Realty
Hamzarealtor@gmail.com
0 votes Thank Flag Link Thu Aug 4, 2011
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