A Revitalized Arts District with Growing Rental Demand

The Binghampton and Broad Avenue area sits in the heart of Memphis, roughly five miles east of Downtown and just minutes from Overton Park, Crosstown Concourse, and the Shelby Farms Greenline. Once a thriving railroad town founded in the 1860s, Binghampton experienced decades of decline before a grassroots revitalization transformed Broad Avenue into one of the city's most vibrant arts and commercial districts. Today, the Broad Avenue Arts District is home to over 70 local businesses — breweries, galleries, restaurants, coffee shops, and boutiques — and the surrounding residential streets attract a growing mix of young professionals, artists, families, and long-term residents drawn to the area's walkability, culture, and central location.

Longstep Property Solutions provides full-service property management for owners in the Binghampton and Broad Avenue area — handling everything from tenant screening and lease management to maintenance coordination and rent collection for long-term rentals, plus full-service short-term rental management for owners on platforms like Airbnb and Vrbo. We know these streets because we're local, and we manage properties across Binghampton's distinct pockets so you get area-specific expertise, not a one-size-fits-all approach.

1. Key Pockets in the Binghampton & Broad Avenue Area

Broad Avenue Arts District

The commercial heart of the neighborhood, Broad Avenue is lined with over 70 locally owned businesses including Wiseacre Brewing Co., City & State coffee, The Liquor Store diner, and T. Clifton Art gallery. Properties within walking distance of Broad command strong rents from tenants who value the walkable, arts-driven lifestyle. This is one of the most in-demand rental pockets in Midtown Memphis.

Tillman Street & Residential Core

The residential streets south and east of Broad Avenue feature a mix of mid-century single-family homes and duplexes on quiet, tree-lined blocks. The Tillman Cove development is bringing 219 new mixed-income housing units to the area, signaling continued investment. Properties here appeal to families, long-term renters, and investors seeking affordable entry points with strong appreciation potential as the neighborhood continues to grow.

The northern edge of Binghampton along Sam Cooper Boulevard connects directly to the Shelby Farms Greenline, a 10.65-mile paved trail running from Midtown to Cordova. The Hampline, a protected bike lane, links this corridor to Overton Park and the Broad Avenue district. Properties near the Greenline trailhead appeal to active tenants and short-term rental guests looking for outdoor access close to urban amenities.

Binghampton & Broad Avenue Area Long-Term Rental Market

The Binghampton and Broad Avenue area has strong and growing long-term rental demand driven by its central location between Midtown, Crosstown Concourse, and the Shelby Farms Greenline. Over $40 million in revitalization investment has flowed into the Broad Avenue corridor since 2010, and the Binghampton Development Corporation continues to transform vacant properties and attract new residents. The housing stock consists primarily of mid-century single-family homes, duplexes, and small multi-family properties that offer solid rental yields for investors who maintain their properties well.

What makes this area stand out for long-term rentals: tenants get a walkable, arts-rich neighborhood with Broad Avenue's dining, shopping, and nightlife within steps, easy access to Downtown, Midtown, and East Memphis, plus direct connectivity to the Shelby Farms Greenline and Overton Park via the Hampline bike corridor. That combination of culture, convenience, and ongoing revitalization drives steady demand and reliable occupancy when properties are well-managed and competitively priced.

$1,200

Average Monthly Rent

$1,150

2-Bedroom Average

+4.2%

Year-over-Year Growth

6.8%

Area Vacancy Rate

Binghampton & Broad Avenue Area Short-Term Rental Market

The Binghampton and Broad Avenue area's short-term rental market is a thriving niche within the Midtown Memphis market, driven by visitors drawn to the Broad Avenue Arts District, Overton Park and the Memphis Zoo, and the area's central location between Downtown and East Memphis. Renovated historic bungalows and duplexes with artsy, locally inspired interiors perform especially well on platforms like Airbnb and Vrbo. The neighborhood attracts families, remote workers, and travelers looking for an authentic Memphis experience outside the tourist district. Properties that are clean, well-designed, and competitively priced consistently earn strong reviews and repeat bookings, especially those walking distance to Broad Avenue's restaurants and breweries.

$100-$175

Average Daily Rate

58%

Average Occupancy

1,945+

Active Memphis Listings

$20-$35K+

Annual STR Revenue

Memphis Short-Term Rental Permit Requirements