Memphis has seen a nearly 10 percent increase in its share of 25-36 year-old residents. Young people are moving to our city and it is no surprise because we are home to the number one place to work for Gen Z – St. Jude Children’s Research Hospital. Time magazine says we are one of the top five cities for Millennial population growth. And guess what? Those Millennials must like it here because they are investing in long-term assets. Memphis has the third largest share of Millennial homebuyers in the country according to realtor.com.
DEVELOPMENT BOOM UNDERWAY
In addition to the city’s growing reputation as a cultural mecca, the cost of living in Memphis continues to be 12 percent lower than the average US metro. With low commute times, affordable and varied housing options and endless activities, the city’s affordability continues to be a significant driver for young professionals – singles and families – who are looking for a city that offers an authentic urban lifestyle with all the amenities of a metropolitan area.
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The average home price in Memphis is $180,375 and the city’s many neighborhoods offer a wide variety of housing options to fit every taste and lifestyle from studio apartments to expansive family homes.
Memphis is a city with major momentum. More than $19 BILLION in underway across Memphis, Memphis is a city with momentum. In Downtown Memphis alone, more than $4 BILLION in new development projects are underway.
Work continues on the $412 million research center, part of a $1 billion expansion of Memphis-based .St. Jude Children’s Research Hospital.
GREATER MEMPHIS RELOCATION GUIDE
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