Memphis, TN

  • Overview
  • Performance
  • Listings
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Key Performance Metrics

Market snapshot

Performance indicators for the Memphis short-term rental market based on reliable data.

Listings

1700 / 3434

Reliable / Active

Cap Rate

17%

Middle-Earners Gross Yield

Revenue

$25,706

Middle-Earners Revenue

Occupancy

63%

Middle-Earners Occupancy

Home Value

$147,579

Median Home Sale Price

Top Earners

$52,138

Top-Earners Revenue

Memphis

Market Revenue Seasonality

Top Listings

Highest revenue

The highest-performing listings in Memphis.

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B

Generally Investor friendly

Memphis Regulations

STRs are explicitly allowed with a straightforward operating permit, moderate fees ($100 application, $50 renewal), and a clear safety/insurance checklist tied to state law; there are no meaningful caps, the process is well-defined, and enforcement is routine but not severe, making Memphis investor‑friendly despite the usual permitting and tax compliance steps.

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About Memphis

Memphis sits in the southwestern corner of Tennessee in Shelby County, just across the Mississippi River from Arkansas and Mississippi. With a city population of roughly 630,000, it anchors a metro area of well over a million people and carries a laid-back, music-soaked character that has earned it nicknames like the "Home of the Blues" and the "Birthplace of Rock 'n' Roll." The city is best known for its barbecue traditions, the Beale Street entertainment district, and Graceland, and it serves as a natural gateway to the wider Mississippi Delta region. Memphis is about 210 miles southwest of Nashville, the nearest major city, with the drive typically running three to three and a half hours via Interstate 40.

Graceland is the city's most-visited attraction, drawing fans of Elvis Presley to the white-columned mansion where he lived from 1957 until his death in 1977. The complex, located about 10 minutes south of downtown, includes the home itself, his custom jets, an automobile collection, and a meditation garden, and it remains one of the most-visited house museums in the country.

Beale Street is a short stretch of historic clubs, restaurants, and neon signs that has functioned as the heart of Memphis music for more than a century. Blues, rock, and soul acts perform in venues that range from tiny juke joints to large entertainment halls, and the street sits within walking distance of the riverfront and most downtown hotels.

The National Civil Rights Museum occupies the former Lorraine Motel, where Dr. Martin Luther King Jr. was assassinated in 1968. Located in the South Main district just a few minutes from downtown, the museum traces the American civil rights movement from slavery through the present day and is widely regarded as one of the most significant historical sites in the South.

Shelby Farms Park offers a very different side of the city. Covering roughly 4,500 acres just east of the urban core, it is one of the largest urban parks in the United States, with miles of trails, several lakes, horseback riding, a small herd of bison, and a large playground, giving visitors an easy way to spend a day outdoors without leaving the metro area.

For short-term rental owners, Memphis blends year-round demand drivers that are unusually varied. Major events such as the Memphis in May festival, the World Championship Barbecue Cooking Contest, Memphis Pride, and college football games at the Liberty Bowl pull in steady seasonal traffic, while Graceland, the National Civil Rights Museum, and the live-music scene keep leisure visitation strong through the rest of the year. The city's central location in the Mid-South, its relatively affordable housing stock, and its mix of music heritage, riverfront appeal, and family-friendly attractions make it a dependable base for both weekend and extended-stay guests.

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