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1031 Exchange Memphis, Tennessee

 

Rent, population, and median household income are important factors to consider for a 1031 exchange in Memphis due to their correlations with market demand, and conversely, vacancy rate.

Surrounding metropolitan Area

Memphis, Tennessee is a part of the Memphis, TN-MS-AR metropolitan area, and contains 61 zip codes, including: 38111, 38145, 38115, 38104, 38197, and 38132.

Memphis Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Memphis, TN metropolitan area was $820, which is 16.48% lower than 2014 average rent. This represents a compounded annual growth rate of 3.10%. 2019 vacancy in Memphis, TN was 5.30%.

The total population of the city of Memphis, TN has grown 0.58% since 2010. As of 2018, the population was 650,618. The median household income of the Memphis was $39,108, which is 35.14% lower than the national average.

  • metropolitan area Memphis, TN-MS-AR
  • avg rent $820
  • rent growth 16.48%
  • vacancy 5.30%
  • median income $39,108
  • population (2018) 650,618
  • population growth 0.58%
  • vs. nat'l avg 35.14%
  • zip codes 37501 37544 38101 38103 38104 38105 38106 38107 38108 38109 38111 38112 38113 38114 38115 38116 38117 38118 38119 38120 38122 38124 38125 38126 38127 38128 38130 38131 38132 38133 38134 38135 38136 38137 38141 38145 38148 38150 38151 38152 38157 38159 38161 38163 38166 38167 38168 38173 38174 38175 38177 38181 38182 38184 38186 38187 38188 38190 38193 38194 38197

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