Transportation and Healthcare Jobs Supporting Renter Demand in Memphis
Employment sectors that leverage Memphis’ transportation infrastructure are creating single-family rental demand. FedEx’s largest package distribution center, named The World Hub, is in southern Memphis, where 7,000 employees sort the 1.5 million packages delivered via 150 nightly planes. FedEx is one of many logistics companies that have announced active hiring in Memphis this holiday season, estimated at 12,300 seasonal jobs, which will support rental demand during the winter months. The Memphis Port serves more than 135 businesses, supporting 20,000 jobs and creating $8.5 billion per year in economic impact. The unemployment rate in Memphis was 5.7 percent at midyear, down 80 basis points year-over-year. Economic activity is generating healthy rental demand in two main areas in Memphis. U.S. Route 72, which runs southeast from downtown, boasts rental vacancy near[…]
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