Affordable Storage in Memphis

Moving and storage go hand in hand. Whether traveling across town or the country, moving is an exciting and fresh start. While Storage Rentals of America is here to help you with all your storage needs, we also want to help you get familiar with the area. That's why we put together this resource guide for Memphis.

About Memphis, TN

There is plenty to like about Memphis. The city is the county seat of Shelby County. It has 633,104 people, as counted during the 2020 U.S. census. It is the second-largest city in the state after the country music center of Nashville.

Historically, the first Europeans to come to the area in 1541 were explorers from Spain led by Conquistador Hernando de Soto.

The founding of Memphis was done by Andrew Jackson (the president featured the U.S. twenty-dollar bill) and two other men, John Overton and James Winchester. Large cotton plantations were able to trade cotton by using the Mississippi River for transportation. It was part of the Antebellum South during the U.S. Civil War.

When the enslaved people got their freedom, many went from being unpaid as slaves to low paid as cotton sharecroppers. During the 1960s, the Civil Rights Movement was fighting in the streets for the rights of the oppressed people. Memphis was where Martin Luther King Jr. was assassinated in 1968.

In contemporary times, Memphis is a thriving city that is a major commercial hub and a cultural focal point for music. The food is terrific. The nightlife is lively, and the communities is diverse and interesting.

What to do in Memphis, TN

Memphis has many interesting attractions and amenities:

• Features:  The city is uniquely located on both the Tennessee/Mississippi border and the Tennessee/Arkansas border. You can enjoy the city, take a boat ride down the Mississippi River, or go fishing at Horseshoe Lake.
• Events: Events in Memphis celebrate all the holidays and feature lots of live music.
• Museums: Museums to visit include the Cotton Museum at the Memphis Cotton Exchange, the Memphis Brooks Museum of Art, the National Civil Rights Museum, the Children’s Museum of Memphis, the Memphis Museum of Science & History, the Memphis Music Hall of Fame, and the Stax Museum of American Soul Music.
• Destination: The King of Rock and Roll, Elvis Presley’s Graceland is a must-see attraction.

Working in Memphis, TN

The Memphis local economy depends on hospitality, transportation, health care, retail, and education. With an unemployment rate of 8%, there are not enough jobs. Household income is $43,981 per year, which is much lower than the national average of $69,021. The economy is growing, but slowly. The predicted job growth rate for the next ten years is 36.6%, which beats the national average of 33.5%.

The industries offering the most jobs are in health care (12.7%), followed by hospitality services (7.8%). Three sectors of transportation (7.1%), education (7.0%), and government administration (6.7%) offer about the same number of jobs. Construction (5.4%) and professional services (4.6%) offer fewer jobs, but they pay well.

Memphis, TN Neighborhoods

Memphis has well-established neighborhoods. Homes cost the most on the eastern side of the city. In neighborhoods like River Oaks/Brierwood and Belle Meade/Village, the price can be $750,000 to $850,000.

Here are the neighborhoods with homes offered for lower prices:

• Walnut Grove Road / North Pine Lake Drive: This neighborhood is desirable because of its location and low prices. Most of the homes were built between 1940 and 1999. The median real estate price is $227,712. The vacancy rate is 0%, so it is hard to find an available place.
• Hunters Hollow South / Cordova Club: This nice neighborhood is on the city's eastern side. The median real estate price is $271,124. Apartments are available to rent for around $2,360 per month. The vacancy rate is 2%, so finding a place to rent is difficult.
• Walnut Ridge: This area is on the eastern side of Memphis. The median real estate price is $363,267. Rental homes are available for an average rent of $2,616 per month. The vacancy rate is 3.5%, so finding a rental might be possible.
• Cordova Southwest: This neighborhood's median real estate price is $264,853. This area has a mixture of homes, townhomes, and apartment buildings. The average rent is $2,866 per month.

Memphis, TN School District

Memphis Shelby County Schools.is the public school district. The school district invests around $12,324 per student each year. The student-to-teacher ratio is 16 to one.

There are 76 private schools in the Memphis area. The top three private schools are Presbyterian Day School (PK to 6th), Immanuel Lutheran School (NS to 8th), and Memphis University School (7th to 12th).

The public four-year University of Memphis and a private four-year Visible Music College are in the city, and 19 other schools are within a 50-mile radius.

Moving to Memphis, TN Resource Guide

An elected mayor and 13 elected members serve on the Memphis City Council. They are elected for four-year terms. There is a two-term limit.

The City of Memphis Parks manages over 150 parks with trails, picnic areas, and playgrounds. Chickasaw Gardens Park, Chandler Park, Dalstrom Park, and Dlugach Park are popular. There are many programs at the recreational centers, such as after-school camps and fitness classes. There are sports facilities and sports teams for youth, aquatics facilities offering swimming lessons, golf courses, tennis courts, and senior centers.

Memphis, TN Housing

The median home sales price in Memphis is $194,700. This price has been going down by -2.2% year-over-year. It is a seller’s market with fewer homes listed for sale than there are interested buyers.

The cost of living in this city is low. It is 7% lower than other cities in the state and 18% lower than the national average found in other cities in the USA.