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Memphis, Tennessee is city with a metro area of 1.3 million residents and growing. An up-and-coming tier 2 market, Memphis is best known for Graceland, is home to FedEx, and commonly known as America's Distribution Center. The city is located on the Mississippi River, has favorable weather, and no state income tax. The area's low cost of living and low cost of doing business has consistently attracted new employers and residents. Memphis fared well through the housing crisis and has very strong rents. A typical $100,000 home leases for around $1,200 per month.
Here's what some are saying about Memphis, TN:
Major employers in the area:
Memphis is quickly becoming a bio-tech hub:
While there are many available properties in the Memphis area for potential investment, owning in quality neighborhoods is the difference between low-risk asset-centric returns and high-risk management-intensive returns. Investor Nation focuses on quality blue-chip neighborhoods in Memphis:
Memphis rents have held strong through the financial crisis and the city has continued to attract new employment despite the current economic conditions. Expect slower growth here (no boom and no subsequent bust). Memphis is a good market for investors seeking a strong yield in housing. Think of Memphis as a solid dividend play in the right neighborhoods.