Memphis
About Memphis, Tennessee
Welcome to Memphis, a city renowned for its rich musical heritage, vibrant cultural scene, and deep-rooted history. Known as the home of the blues and the birthplace of rock 'n' roll, Memphis boasts iconic attractions like Beale Street, Graceland, and the National Civil Rights Museum. Alongside its historical significance, Memphis offers a dynamic culinary scene, diverse neighborhoods, and a strong sense of community, making it an enticing place to live and explore.
Average Home Prices in Memphis
The average home price in Memphis, TN, stands at approximately $144,347, offering an affordable entry point into the housing market. Memphis's diverse neighborhoods provide a spectrum of housing options, from historic homes to modern developments, catering to various preferences and lifestyles. The city's real estate market is characterized by its accessibility, presenting opportunities for both first-time homebuyers and seasoned investors.
Based on calculations of home data from MLS and/or public records.
Veteran Benefits in Tennessee
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Tennessee State Veterans Homes
Tennessee provides four state veteran homes in Clarksville, Humboldt, Knoxville, and Murfreesboro, catering to the needs of veterans and eligible family members with quality care facilities.
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County Motor Vehicle Privilege Tax
Qualified former POWs or 100% permanently and totally disabled veterans are exempt from the county motor vehicle privilege tax, offering financial relief.
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Disabled Veterans Property Tax Relief
Tennessee offers property tax relief for disabled veterans, easing the financial burden on those who have served and their families.
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Tennessee Veteran Employment Benefits
The state ensures veterans' preference in employment, credit for military service, and other benefits, aiding veterans in their transition to civilian careers.
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Dependent Education Benefits
Tennessee provides education benefits covering full college costs for children of veterans affected by service-related incidents, supporting their future educational pursuits.
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Veteran Recreation Benefits
Eligible disabled veterans enjoy complimentary hunting and fishing licenses and discounted camping, recognizing their service with recreational opportunities.
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Tennessee Veterans Cemeteries
With five state veterans cemeteries, Tennessee honors veterans with dignified final resting places, reflecting the state's gratitude for their service.
Memphis Neighborhoods and Surrounding Areas
Memphis is a city with a rich tapestry of neighborhoods, each offering its own unique flavor and living experience. Here are 25 neighborhoods that showcase the diversity and character of Memphis:
- Midtown: Known for its vibrant arts scene, eclectic dining, and historic architecture, Midtown Memphis is a cultural hotspot.
- East Memphis: An affluent area known for its upscale homes, shopping, and dining, East Memphis offers a suburban feel with city amenities.
- Cooper-Young: A trendy neighborhood known for its bohemian vibe, Cooper-Young is popular for its nightlife, arts, and dining scene.
- Germantown: This suburban area is known for its high quality of life, excellent schools, and well-maintained parks and recreational facilities.
- Downtown: The heart of the city, Downtown Memphis is where you'll find the famous Beale Street, along with museums, sports venues, and riverfront attractions.
- Collierville: Offering a mix of charm and modern conveniences, Collierville is known for its historic town square and family-friendly atmosphere.
- Bartlett: A suburb of Memphis, Bartlett provides a quieter lifestyle with access to good schools, parks, and local shopping.
- South Main: A historic district that has undergone significant revitalization, South Main is known for its art galleries, boutiques, and eateries.
- Cordova: With a mix of residential and commercial developments, Cordova is a growing area that offers a variety of living options.
- Harbor Town: A planned community on Mud Island, Harbor Town features a mix of housing styles and a strong sense of community.
- Hickory Hill: A diverse neighborhood with a range of housing options, Hickory Hill is known for its retail and dining options.
- High Point Terrace: A tight-knit community with a suburban feel, High Point Terrace is known for its charming homes and local amenities.
- Mud Island: Offering riverfront living with stunning views, Mud Island is a unique and sought-after area in Memphis.
- Raleigh: A neighborhood with a variety of housing styles, Raleigh is known for its community parks and local schools.
- Berclair: An affordable area with a diverse population, Berclair offers a range of single-family homes and apartments.
- Whitehaven: Known for being the home of Graceland, Whitehaven is a historic neighborhood with a strong sense of heritage.
- Frayser: With affordable housing and a close-knit community, Frayser is an area with potential for growth and investment.
- Lakeland: Situated on the outskirts of Memphis, Lakeland offers a suburban lifestyle with plenty of green spaces and water features.
- Central Gardens: A historic district known for its well-preserved early 20th-century architecture and beautiful gardens.
- Orange Mound: A neighborhood with deep cultural and historical roots, Orange Mound is one of the oldest African-American communities in Memphis.
- University District: Home to the University of Memphis, this area is vibrant with student activities, affordable housing, and academic institutions.
- Evergreen: Nestled near Midtown, Evergreen is known for its historic homes, walkable streets, and community involvement.
- Binghampton: An up-and-coming area with a diverse community, Binghampton is undergoing revitalization, attracting new residents and businesses.
- Parkway Village: A residential neighborhood with a variety of housing options, Parkway Village is known for its convenience and accessibility.
- River Oaks: An upscale area with luxurious homes, River Oaks offers a tranquil environment with high-end amenities.
Military in Tennessee
Memphis plays a pivotal role in Tennessee's military landscape, offering support and resources to veterans and active-duty personnel:
- Naval Support Activity Mid-South: Located in nearby Millington, this facility is crucial for the U.S. Navy, providing valuable services and support to military members and their families in the region.
- Memphis Air National Guard Base: Home to the 164th Airlift Wing, this base showcases the Air National Guard's commitment to national defense and community support.
Local Universities in Memphis
Memphis is home to a variety of higher education institutions, fostering an environment of academic excellence and innovation:
- University of Memphis: A major research university offering a wide range of undergraduate and graduate programs, contributing to the city's intellectual and cultural vibrancy.
- Rhodes College: An acclaimed liberal arts college known for its beautiful campus and rigorous academics, providing a close-knit educational community.
- Christian Brothers University: A private university with a strong emphasis on liberal arts education and professional studies, rooted in Lasallian traditions.
VA Loan Benefits in Memphis
Memphis veterans can take advantage of VA Loan benefits, offering a pathway to homeownership with favorable terms:
- No Down Payment: Eligible veterans can purchase homes in Memphis without the need for a down payment, opening doors to homeownership.
- Competitive Interest Rates: VA Loans come with competitive rates, making home financing more affordable for veterans.
- No PMI: Veterans benefit from no private mortgage insurance requirement, reducing monthly mortgage costs.
MHS Lending is here to assist Memphis veterans in navigating the VA Loan process, ensuring they leverage these benefits to secure their ideal home.
