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Real Estate Prices & Overview

South Memphis median real estate price is $73,295, which is less expensive than 98.3% of Tennessee neighborhoods and 97.7% of all U.S. neighborhoods.

The average rental price in South Memphis is currently $1,495, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 68.5% of Tennessee neighborhoods.

South Memphis is a suburban neighborhood (based on population density) located in Memphis, Tennessee.

South Memphis real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and small apartment buildings. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the South Memphis neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built before 1940.

Vacant apartments or homes are a major fact of life in South Memphis. The current real estate vacancy rate here is 19.7%. This is higher than the rate of vacancies in 86.4% of all U.S. neighborhoods. In addition, most vacant housing here is vacant year round. This can sometimes be the case in neighborhoods dominated by new construction that is not yet occupied. But often neighborhoods with vacancy rates this high are places that can be plagued by a protracted vacancy problem. If you live here, you may find that a number of buildings in your neighborhood are actually empty.

Notable & Unique Neighborhood Characteristics

When you see a neighborhood for the first time, the most important thing is often the way it looks, like its homes and its setting. Some places look the same, but they only reveal their true character after living in them for a while because they contain a unique mix of occupational or cultural groups. This neighborhood is very unique in some important ways, according to NeighborhoodScout's exclusive exploration and analysis.

Real Estate

Most neighborhoods have a mixture of ages of homes in them, from new to old, but this neighborhood stands out due to its concentration of residential real estate built in one time frame: from 1940 through 1969, generally considered older, well-established homes. This was a busy time in America for home construction. After the end of World War II, as GIs came home, bought newly built homes on the edges of cities with the help of the GI Bill, and began their families. This housing era generally coincides with the 'Baby Boom' generation (1945 - 1964), and many baby boomers grew up in homes built in this era. But what is so interesting about the South Memphis neighborhood, is that an incredible 85.8% of the homes here were built in this era. So when you walk its streets or drive through, this neighborhood has a look and feel that harkens to that era in American life, a very important slice of Americana.

People

The South Memphis neighborhood stands out for having an average per capita income lower than 96.1% of the neighborhoods in the United States.

Diversity

Did you know that the South Memphis neighborhood has more African ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 7.2% of this neighborhood's residents have African ancestry.

The Neighbors

How wealthy a neighborhood is, from very wealthy, to middle income, to low income is very formative with regard to the personality and character of a neighborhood. Equally important is the rate of people, particularly children, who live below the federal poverty line. In some wealthy gated communities, the areas immediately surrounding can have high rates of childhood poverty, which indicates other social issues. NeighborhoodScout's analysis reveals both aspects of income and poverty for this neighborhood.

The neighbors in the South Memphis neighborhood in Memphis are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 96.1% of U.S. neighborhoods. With 32.3% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 83.4% of U.S. neighborhoods.

A neighborhood is far different if it is dominated by enlisted military personnel rather than people who earn their living by farming. It is also different if most of the neighbors are clerical support or managers. What is wonderful is the sheer diversity of neighborhoods, allowing you to find the type that fits your lifestyle and aspirations.

In the South Memphis neighborhood, 41.2% of the working population is employed in manufacturing and laborer occupations. The second most important occupational group in this neighborhood is clerical, assistant, and tech support occupations, with 28.8% of the residents employed. Other residents here are employed in executive, management, and professional occupations (15.4%), and 14.7% in sales and service jobs, from major sales accounts, to working in fast food restaurants.

Languages

The most common language spoken in the South Memphis neighborhood is English, spoken by 99.3% of households.

Ethnicity / Ancestry

Culture is the shared learned behavior of peoples. Undeniably, different ethnicities and ancestries have different cultural traditions, and as a result, neighborhoods with concentrations of residents of one or another ethnicities or ancestries will express those cultures. It is what makes the North End in Boston so fun to visit for the Italian restaurants, bakeries, culture, and charm, and similarly, why people enjoy visiting Chinatown in San Francisco.

In the South Memphis neighborhood in Memphis, TN, residents most commonly identify their ethnicity or ancestry as Sub-Saharan African (7.2%). There are also a number of people of African ancestry (7.2%).

Getting to Work

Even if your neighborhood is walkable, you may still have to drive to your place of work. Some neighborhoods are located where many can get to work in just a few minutes, while others are located such that most residents have a long and arduous commute. The greatest number of commuters in South Memphis neighborhood spend between 15 and 30 minutes commuting one-way to work (60.4% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (83.8%) drive alone in a private automobile to get to work. In addition, quite a number also carpool with coworkers, friends, or neighbors to get to work (9.7%) and 5.8% of residents also ride the bus for their daily commute. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.


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