For many reasons, Memphis investment properties make a lot of sense economically, fundamentally, and financially.
Memphis is a very large city located in the state of Tennessee. With a population of 652,050 people and 181 constituent neighborhoods, Memphis is the largest community in Tennessee.
Memphis is neither predominantly blue-collar nor white-collar, instead having a mixed workforce of both blue-collar and white-collar jobs. Overall, Memphis is a city of sales and office workers, service providers and professionals. There are especially a lot of people living in Memphis who work in office and administrative support (16.12%), sales jobs (10.79%) and management occupations (6.92%).
One important feature of Memphis is that it is one of the most car-oriented large cities in the country. In fact, 80.59% of people commute to and from work every day by private automobile, eschewing alternative forms of transportation, which are not widely available in Memphis anyway. So, if you like to drive, Memphis is the city for you! The landscape around Memphis reflects this: wide streets, parking lots, plenty of highways, malls, and shopping centers are what you'll find.
Memphis Information and Demographics
The education level of Memphis citizens is a little higher than the average for US cities and towns: 22.48% of adults in Memphis have at least a bachelor's degree.
The per capita income in Memphis in 2010 was $21,007, which is upper middle income relative to Tennessee, and middle income relative to the rest of the US. This equates to an annual income of $84,028 for a family of four. However, Memphis contains both very wealthy and poor people as well.
Memphis is an extremely ethnically-diverse city. The people who call Memphis home describe themselves as belonging to a variety of racial and ethnic groups. The greatest number of Memphis residents report their race to be Black or African-American, followed by White. Important ancestries of people in Memphis include English, Irish and German.
The most common language spoken in Memphis is English. Some people also speak Spanish.
Information by Department of Numbers, Bureau of Labor Statistics, U.S. Census Bureau and Locatoin Incorporated are deemed reliable but not guaranteed.
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Metropolitan Statistical Area (MSA) represents the current U.S. defined sampling area or region for reporting data to various local and state governments. MSAs may cross
county and state lines to form a qualified statistical region.
Information by realestate.com and altosresearch.com are deemed reliable but not guaranteed.
|Number of Homes
. (Recessions shown as gray bars.)
- Current Population Survey, CES
- Current Employment Statistics.
The rent-to-mortgage payment ratio uses the adjusted market rent against a 100% loan-to-value mortgage (30-year fixed) for the median price home using MLS sales statistics. A ratio of 1.0 means that annual rent is equivalent to annual mortgage payments. Values less than 1.0 indicate rents are cheaper, and values greater than 1.0 mean mortgage payments are cheaper. (Note: taxes are not considered here.)
The rent-to-mortgage payment ratio for Memphis was 1.24 in December 2012.
Information by Department of Numbers, Bureau of Labor Statistics, U.S. Census Bureau deemed reliable but not guaranteed.