Memphis, known for its rich musical heritage has several wealthy neighborhoods. Choose the right one, and you’ll enjoy comfortable living with all the city amenities.
In these wealthier areas of Memphis, high home values and living costs are common. If you’re looking to mingle with the well-off, these neighborhoods might just be your ticket.
1. Belle Meade
Median Household Income: $434,848
Average Home Price: $2,704,721
Belle Meade is the richest neighborhood in Memphis with big, fancy homes. It’s a quiet place where people enjoy a peaceful lifestyle. Despite its calm setting, it’s not far from the lively parts of Memphis, which is great for when residents want to go out and about.
The high home prices show that this is a place for people with a lot of money. Even though the houses are pricey, the people living here create a friendly community, making Belle Meade a cozy and welcoming place to live.
2. River Oaks
Median Household Income: $111,220
Average Home Price: $505K
River Oaks is known for its upscale homes and well-kept streets. Convenience is a big plus here, with easy access to shopping centers, grocery stores, and even fine dining options. But what really sets River Oaks apart is its welcoming community vibe.
While it’s close to all the action, the area retains a peaceful, residential feel that residents love coming home to. When it comes to education, the neighborhood is served by top-rated schools, making it an excellent choice for families.
Median Household Income: $123,387
Average Home Price: $480,574
Germantown, located in the Memphis metro area, is a community that seems to have it all. High income levels indicate that the residents enjoy a comfortable lifestyle, supported by quality jobs in and around the area. When it comes to shopping, dining, or entertainment, Germantown has a wide array of options, making it a convenient place for its residents.
But perhaps what makes it truly special is its strong community spirit. Even with all the urban perks, Germantown manages to maintain a hometown feel that’s welcoming and safe. Quality schools are an added advantage here, so it’s no surprise that the area is a hit with families.
4. Chickasaw Gardens
Median Household Income: $74,016
Average Home Price: $760,000
Even though the income levels here might not be as astronomical as in some other neighborhoods, the residents clearly value a high standard of living, evident by the premium housing. This area is teeming with tree-lined streets and well-maintained homes, setting a peaceful backdrop for daily life.
What makes Chickasaw Gardens special is its blend of urban sophistication with a touch of suburban comfort. You’re not far from the heart of the city, yet you get to come home to a tranquil neighborhood where the word “community” still means something.
5. Central Gardens
Median Household Income: $48,487
Average Home Price: $440K
Central Gardens is a lively neighborhood that harbors a blend of historical charm and modern living. With a substantial population, the area buzzes with activity, yet retains a sense of community. The income levels here are modest compared to some other parts of Memphis, yet it’s the rich cultural essence and architectural elegance that draw people in.
The homes in Central Gardens have a historical aura, with many of them showcasing early 20th-century architecture. The prices of homes are somewhat moderate, making it accessible to a broader range of homeowners compared to the more upscale neighborhoods.
Median Household Income: $153,438
Average Home Price: $560K
Collierville, with its charming small-town vibe yet modern amenities, is a welcoming suburb of Memphis. Here, over 50,000 people have made their homes, creating a diverse community. The income level is quite decent, making living here comfortable.
When it comes to homes, the prices are on the higher side, reflecting the area’s demand and the quality of life it offers. The streets are safe, the schools are good, and the town square is a hub of local activities and gatherings.
7. East Memphis
Median Household Income: $41,428
Average Home Price: $319K
East Memphis is a suburb that offers a blend of residential and commercial spaces. It’s a place where people can find affordable housing compared to other parts of Memphis. The median income here is modest, and the housing market shows a variety of price points over time, making it accessible to many.
It’s not as bustling as downtown but has its own charm with local shops, restaurants, and some business districts. It’s a good spot for those who want a quieter living environment while still being close to the city’s amenities.
Median Household Income: $45,750
Average Home Price: $574,804
Midtown is a lively and diverse neighborhood known for its historical homes, artsy vibe, and a welcoming community. It’s a place where people from different walks of life come together and enjoy an urban life.
The income here is moderate, and the home prices vary, but tend to be more affordable compared to some upscale neighborhoods in Memphis. The area is known for its cultural events, local eateries, and a sense of community that makes living here unique and enjoyable.
Median Household Income: $88,936
Average Home Price: $310K
Southwind is a suburb known for its upscale residential areas and peaceful environment. It’s located in the eastern part of Memphis, well-connected to major highways.
The homes here are priced moderately, with a wide range offering something for different budgets. The neighborhood is quiet, with lots of greenery, making it a nice place for families or anyone looking for a tranquil living environment.
10. Harbor Town
Median Household Income: $79,307
Average Home Price: $566K
Harbor Town is a quaint neighborhood nestled on Mud Island, providing a suburban experience right near the heart of Memphis. With its proximity to the Mississippi River, it offers picturesque views and a serene environment.
The real estate here is on the pricier side, reflecting the desirable location and the quality of life it offers. It’s a place where the community enjoys a peaceful setting, yet has easy access to city life when desired.
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