New Market Launch: Memphis

With strong yields and favorable market fundamentals, the single-family rental market in Memphis is anything but the blues.

Like singer Marc Cohn, the Roofstock team has been “Walking in Memphis” (well, figuratively speaking). We’re thrilled to bring another quality market of leased single-family rental homes to our exclusive online marketplace, where every property and partner has been vetted and certified.

With attractive gross rental yields averaging close to 12% and typical starter homes beginning at $115,000,1 the Memphis market provides the potential for strong returns on investment properties. Home values are forecasted to grow by 3.75% during the next four years, which is on par with the national average.2

We are pleased to welcome Memphis to the growing Roofstock marketplace. We are always listening to our customers, and decided to accelerate our launch of Memphis based on feedback indicating this was a place investors wanted us to be. —Gary Beasley, Roofstock co-founder & chief executive officer

With modest entry price points, buyers can easily access this quality asset class with a low capital outlay, making Memphis a potentially great market for first-time purchasers. Adding to its appeal, the market’s single-family rent-to-income ratio is currently among the most economical in the Southeast region of the United States. This ratio indicates opportunity for rent growth, and would be beneficial for buyers.

Roofstock launches new single-family rental market in Memphis The Mississippi River in downtown of Memphis, Tennessee.

As Tennessee’s economic center and the third largest city in the greater Southeastern U.S., the commercial landscape in Memphis is entrepreneurial and diverse. This steady market is home to three Fortune 500 companies (FedEx, AutoZone and International Paper) and other major logistics operations run by companies such as Nike and Target. Memphis is also a growing market for medical device manufacturers—an industry expected to drive local job and income growth.

Memphis real estate investing offers tremendous opportunities for those wanting to be in the rental market. —Brian Kline, Realty Biz News

Overall, employment growth in Memphis has increased at a steady 1.28% rate annually over the past five years,4 and the local economy is expected to continue to improving.

With healthy yields and favorable market fundamentals including steady forecasted employment and household growth, we believe the Memphis real estate landscape presents strong long-term investment potential in the single-family rental market.

Ready to Explore Memphis? >> Find My Next Rental Property

With the addition of Memphis, Roofstock now features single-family rental real estate in 13 markets across the U.S. including Atlanta, Dallas, Tampa, Indianapolis, Jacksonville, Las Vegas, Miami, North Carolina, Orlando, Riverside/San Bernardino, San Francisco/East Bay and Southwest Florida.

References

  1. John Burns Consulting, Single-Family Rental Analysis and Forecast, March 2017
  2. John Burns Consulting, Single-Family Rental Analysis and Forecast, March 2017
  3. John Burns Consulting, Single-Family Rental Analysis and Forecast, March 2017
  4. John Burns Consulting, Single-Family Rental Analysis and Forecast, March 2017
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Blair Franklin

Author

Blair Franklin

Blair is the Content Marketing Manager at Roofstock. She is currently in escrow for her second rental property and loves getting firsthand experience as a real estate investor.

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