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There are many reasons why more and more people are now calling downtown Memphis home. Over the past two decades, Memphis has experienced a major revitalization. The residential population of downtown Memphis is now over 30,000 with a steadily growing household income level. According to USA Today, Beale Street is Tennessee’s most visited tourist attraction and America’s most iconic street. Many new businesses have chosen downtown for their office space, and established businesses are moving downtown from other areas of the city. With so much growth, it’s easy to see why Forbes Magazine recently ranked downtown Memphis as one of the top “15 US Cities’ Emerging Downtowns.” If you’re considering relocating and want to know more about the perks of living in downtown Memphis, keep reading.
Recently, the Wall Street Journal named Memphis as one of the top cities for livability due to its balanced mix of opportunities for its residents to live, work and play. Specifically, downtown Memphis offers a unique environment where residents can enjoy a modern, walkable, and bikeable lifestyle whether it’s a walk on the river bluff, shopping on Main Street, a bike ride on Mud Island, or a stroll on the Big River Crossing bridge over the Mississippi River. Downtown Memphis is an excellent place to enjoy the mild Delta weather, some soulful music, and growing entrepreneurial opportunities. More compact than some other downtown areas, it is also more pedestrian-friendly. Additionally, downtown Memphis is a great mixture of scenic views and city living. With views of the Mississippi River and many beautiful parks close by, you can step out of your apartment, home, or condo and into nature.
In addition to offering so many great things to see and do, downtown Memphis is an attractive place to call home because of its low cost of living and affordability. Whether you’re interested in a luxury apartment, an urban loft, or a house, you can enjoy the many advantages of living in a downtown area without the high-cost real estate that most cities demand. Boasting a cost of living that’s 14 percent lower than the national average, Memphis is a no-brainer for anyone looking to work, live, and play in the same area. Whether it’s the cost of dinner or the price of admission to one of the many downtown venues, downtown Memphis residents can expect to pay less than the typical city-dweller in other downtowns throughout the United States. Additionally, residents in Tennessee do not pay state employment taxes which is an added economic advantage.
This one may be the most obvious on our list of reasons to live in downtown Memphis. Memphis’ Beale Street is a great place to start — or finish — a fun-filled evening. This is especially true for music lovers. With dance clubs, discos, bars, and restaurants, you have a variety of nightlife options close at hand. Residents can satisfy their sophisticated side with an evening of cocktails at the historic Peabody Hotel or enjoy a chic rooftop experience at the Madison Hotel. You may choose to indulge in Southern pub grub and Irish beer at Silky O’Sullivan’s. And for those looking for a more tourist-like experience, B.B. King’s Blues Club is one of the most famous spots to hear some great blues music. Lastly, with places like The Green Beetle and Earnestine & Hazel’s, downtown Memphis offers the kind of nightlife that’s quintessentially funky, a little gritty, and always authentic.
Art, music, live performances, and history — these elements are at the heart of Memphis and its rich culture. With a wide variety of theatres, music venues, and museums, downtown Memphis offers an eclectic level of artistic opportunity that rivals major metropolitan cities. The art galleries in the historic South Main district and the nearby Metal Museum enhance the downtown culture. The city also offers live theater in a number of locations, as well as, classical music, and arts festivals in nearby neighborhoods throughout the year. Additionally, downtown is home to the world-renowned Civil Rights Museum, a historical venue dedicated to educating visitors about the critical players and events of the civil rights movement.
Memphis is a vibrant, growing, historical city with much to offer current residents and newcomers alike. And, Memphis has a track record of providing the right combination of assets for new businesses. Ranked by Forbes as one of the most affordable cities in the U.S. and by WalletHub as the number 7 best city in which to start a new business, Memphis provides the right array of characteristics to support new and existing businesses. Downtown Memphis is a hub of growth and opportunity that offers a wide variety of companies and industries, with a deep employee pool and an affordable cost of living. Additionally, the downtown area is experiencing a major building boom as entrepreneurs are taking advantage of the city’s major innovation districts. As an ever-evolving beacon for both creative opportunists and technology companies, downtown Memphis is a thriving place to live, work, and play.
Ready to make the move to downtown living? Give Marx-Bensdorf, REALTORS® a call. As the oldest real estate firm in the greater Memphis metropolitan area, our agents combine expertise and experience with connections to help you find the perfect place to live in Downtown Memphis. Let us help you find your downtown Memphis loft, condo, or home.