Memphis, Tennessee is a ReInvestIQ-tracked rental investment market. The page reports median price, market rent, cap rate, walkability, and demographics, and links straight through to underwrite any Memphis property in roughly 60 seconds.
Memphis is one of the most institutionally validated single-family rental markets in the country — it's a top target for both individual BRRRR investors and large SFR (single-family rental) funds, which tells you something about the fundamentals: low entry price, strong rent-to-price ratios, and a logistics-heavy economy (FedEx's global hub) that supports steady blue-collar rental demand.
Turnkey long-term rental is the dominant strategy, and Memphis has one of the most mature turnkey-provider ecosystems of any market in the country — useful for first-time out-of-state investors who want done-for-you rehab and property management. BRRRR is also active, particularly in South and Southeast Memphis.
Tennessee has no state income tax and is broadly considered landlord-friendly, with no statewide rent control. Property taxes are notably low compared to national averages, which is a real structural advantage for cash-flow underwriting versus higher-tax Midwest metros on this list.
Memphis produces some of the strongest yield numbers on this list, and that is precisely the risk — high advertised yield in the lower-priced submarkets typically reflects higher turnover, collection difficulty, and maintenance frequency rather than a free lunch. The mature turnkey ecosystem also means a large share of inventory is sold with a marketing narrative attached; the pro forma rent is often optimistic relative to actual collected rent.
Low entry price (median near the current metro median in current data), no state income tax, low property taxes (around the current metro estimate), and consistent rental demand from a logistics-heavy job base — the same fundamentals that attract funds work for individual investors too.
Yes — it has one of the most mature turnkey-provider markets in the country, which lowers the execution risk of buying sight-unseen. Still run every specific address through underwriting rather than trusting a turnkey pitch deck alone.
Gross rental yield is currently estimated around the current metro estimate with median rent near the current metro median/mo — among the stronger yield numbers on this list.
Lower price typically means higher management intensity and tenant turnover risk — the cash-flow math looks better on paper but requires tighter property management than higher-price submarkets like Cordova.
They are real, but gross yield is not net return. The lower-priced submarkets carry higher turnover, more frequent maintenance, and tougher collections — model realistic vacancy and delinquency rather than using headline gross yield as your expected outcome.
It can be substantial in the higher-yield neighborhoods. Ask any turnkey provider for actual collected rent and turnover history on comparable units, not just the projected figure on the marketing sheet.