Figures

Memphis Multifamily Figures Q4 2024

February 18, 2025 5 Minute Read

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‒Sales activity remains low, as sellers are remaining firm on pricing, causing buyers to be priced out due to higher debt costs.
 
‒The Memphis unemployment rate trended downward slightly, remaining just over the national average of 3.8%.
 
‒The average monthly rent decreased 164 basis points quarter-over-quarter to $1,198, largely attributed to the Class A properties decreasing 263 basis points from the previous period.