Memphis, Tennessee has 633,104 people and 202 neighborhoods making it the second-largest city in Tennessee.
Memphis has a lot of wealthy residents and people who are considered poor based on their income. The per capita income in Memphis in 2018 was $26,704, which is upper-middle-income relative to Tennessee, and middle income relative to the rest of the US. This equates to an annual income of $106,816 for a family of four.
We found the wealthiest neighborhoods in Memphis, see if your neighborhood made the list!
#1-River Oaks & Brierwood
The most expensive neighborhood in Memphis is River Oaks / Brierwood. If you want to purchase a home here, it will cost you around $773,592, which is more expensive than 96.7% of the neighborhoods in Tennessee and 86.9% of the neighborhoods in the U.S.
The average monthly rental price is around $1,422 which is higher than 62.7% of the neighborhoods in Tennessee.
Interestingly enough, 71.2% of its residents are married, which is a higher percentage than is found in 98.3% of the neighborhoods in America.
#2-Belle Meade & Village
Real estate vacancies are low in this neighborhood at 5.5%, which is lower than one will find in 65.9% of American neighborhoods.
Residents who live here are highly educated. In fact, 73.0% of adults here have received at least a 4-year bachelor's degree, compared to the average neighborhood in America, which has 32.9% of the adults with a bachelor's degree.
#3-Chickasaw Gardens & Lundee
Number three on our list is Chickasaw Gardens & Lundee. Real estate in this community has an average price of around $612,916, which is more expensive than 71.7% of the neighborhoods in Tennessee and 65.6% of the neighborhoods in the U.S.
If you enjoy the arts, fine dining, and a certain lifestyle, this may be the place for you. More "urban sophisticates" live here than 98.0% of neighborhoods across the U.S.
#4-Red Acres & High Point Terrace
The multi-block neighborhood of Red Acres & High Point Terrace is one of the most expensive neighborhoods in Memphis.
The median home price is $573,740, which is more expensive than 86.4% of the neighborhoods in Tennessee and 71.5% of the neighborhoods in the U.S.
Rent here runs around $1,353, a month which is actually currently lower in price than 42.6% of Tennessee neighborhoods.
Renting a place in White State is fairly high at an average rate of $1,910 a month, which is higher than 85.1% of the neighborhoods in Tennessee.
Interestingly enough, 1.6% of this neighborhood's residents have Eastern European ancestry.
Memphis residents, what do you think of this list? Would you buy real estate in one of these neighborhoods? Let us know in the comments!