While most major metro areas have recovered from the recession, Memphis is one of the last to bounce back. From an investment perspective this isn’t necessarily a negative thing because opportunities are priced low, which leads investors get in on the ground floor, and capitalize on the projected growth for the future.
Employment rates are increasing, thanks in part to a 32,000-employee FedEx facility as well as a boom in hiring in the health care service industry. Homeownership is still below the national average and will most likely continue to be a renter-driven market, as interest rates are expected to rise. Since this region is poised for growth, investors will be looking to take advantage of the low property prices and demand for rental properties.
Learn more about the economic climate for the region in this detailed reported created by HomeUnion’s research services team.