Millington, TN

  • Overview
  • Performance
  • Listings
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Key Performance Metrics

Market snapshot

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

Listings

39 / 86

Reliable / Active

Cap Rate

11%

Middle-Earners Gross Yield

Revenue

$25,430

Middle-Earners Revenue

Occupancy

60%

Middle-Earners Occupancy

Home Value

$241,551

Median Home Sale Price

Top Earners

$43,448

Top-Earners Revenue

Millington

Market Revenue Seasonality

Top Listings

Highest revenue

The highest-performing listings in Millington.

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D

Unfriendly to Investors

Millington Regulations

Millington's STR environment is prohibitive for new investors due to a citywide ban on new operations, with only existing STRs meeting strict grandfathering criteria (documented operation/tax remittance for at least 6 months in the prior year) permitted. This creates a de facto barrier to entry, rendering new investment nearly impossible.

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About Millington

Millington is a small city in Shelby County, Tennessee, home to approximately 10,000 to 11,000 residents. It sits roughly 20 miles north of Memphis along the highway corridor that links the city to the rest of western Tennessee, and its setting within the larger Memphis metropolitan area gives it a quiet, suburban character while keeping urban amenities within an easy drive. The city is best known for its aviation heritage, anchored by the Millington Regional Jetport and the legacy of the former Naval Air Station Memphis, and it serves as a gateway to the natural landscapes of the lower Mississippi River as well as the cultural attractions of nearby Memphis.

The Memphis International Raceway, located right in Millington, is a major draw for motorsports enthusiasts visiting the region. The facility hosts NHRA drag racing events, IHRA competitions, and other automotive events throughout the year, drawing spectators from across the Mid-South. Its year-round calendar of races makes it a consistent source of visitor traffic and a reliable draw for short-term rental demand in the area.

Just northwest of Millington lies Meeman-Shelby Forest State Park, one of Tennessee's larger state parks and a popular outdoor escape along the eastern bank of the Mississippi River. The park offers camping, hiking and biking trails, fishing lakes, and river overlooks, providing a welcome contrast to the urban density of Memphis just a short drive to the south. The mixture of bottomland hardwood forest, water features, and wildlife viewing makes it a frequent stop for travelers seeking a more relaxed pace.

Millington's aviation roots remain visible in the Millington Regional Jetport, a facility that continues to support military flight operations, general aviation, and occasional airshows. The annual Memphis Airshow and related events draw visitors interested in both historic and modern military aircraft, giving the city a recurring seasonal draw on top of its motorsports and outdoor offerings.

For visitors willing to make the short trip south, the attractions of Memphis are within a thirty-minute drive, including Graceland, the National Civil Rights Museum at the Lorraine Motel, and the Beale Street entertainment district. Millington's position on the northern edge of the metro area offers travelers a quieter place to stay while keeping the city's marquee destinations easily accessible.

With its blend of motorsports, outdoor recreation, aviation heritage, and proximity to Memphis, Millington presents short-term rental owners with a market shaped by a steady mix of race fans, park visitors, and travelers exploring the wider Mid-South. The city's small-town feel, easy highway access, and range of nearby attractions give it broad appeal across a variety of guest itineraries.

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