historic town square, top-ranked schools, and a median home value near $470K

Collierville is consistently ranked among the best places to live in Tennessee — and the numbers back it up. With a population of over 51,000, a median household income above $134,000, and a school district ranked 4th in the state, it draws families, corporate professionals, and executives who demand the best. The Historic Town Square, listed on the National Register of Historic Places, anchors a community that balances small-town charm with big-suburb amenities. Major employers like FedEx (4,400 employees at their World Tech Center), Carrier (1,500), and Baptist Memorial Hospital make Collierville a self-sustaining economy — not just a bedroom community.



Longstep Property Solutions provides full-service property management for Collierville owners — handling everything from tenant screening and lease management to maintenance coordination and compliance. We know this market because we're local, and we manage properties across Collierville's distinct neighborhoods so you get area-specific expertise, not a one-size-fits-all approach.

Key Neighborhoods in Collierville

Schilling Farms

Schilling Farms is Collierville's premier master-planned community — a 443-acre mixed-use development with single-family homes, luxury condos, upscale apartments, and walkable retail. The Oaks at Schilling Farms offers 2,000+ square foot condos, The Signature provides luxury apartment living, and The Carrington caters to professionals who want high-end finishes in a convenient location. Rental demand here is strong across every property type because Schilling Farms delivers the live-work-play lifestyle that today's tenants prioritize.

Historic Town Square & Old Collierville

The neighborhoods surrounding Collierville's Historic Town Square offer some of the most charming rental opportunities in the Memphis metro. Tree-lined streets, walkable access to boutique shops, chef-driven restaurants like Maeve's Tavern and Cafe Piazza, and iconic spots like the Silver Caboose and Mensi's Dairy Bar create a lifestyle tenants don't want to leave. Older homes in this area have character and curb appeal — and when well-maintained, they command premium rents because of their proximity to the Square and its year-round events.

Collierville North & Houston Levee Corridor

Collierville North is among the wealthiest neighborhoods in America — top 15% nationally for household income — with newer construction, larger lots, and executive-style homes. The Houston Levee corridor connects Collierville to Germantown and is lined with retail, dining, and medical offices that make the area self-sufficient. Tenants here tend to be corporate transferees and medical professionals on multi-year assignments who need a move-in-ready home in a top school zone.

Collierville Long-Term Rental Market

Collierville's long-term rental market is one of the strongest and most stable in the Memphis metro. The Collierville Schools district ranks 4th out of 139 districts in Tennessee, with 71% reading proficiency and 74% math proficiency — both nearly double the state average. That school zoning alone drives rental demand from families willing to pay a premium to live in-district. Add in major employers like FedEx's World Tech Center (4,400 employees), Carrier (1,500), and Orgill's new Innovation Center, and you have a tenant base of high-income professionals who need quality housing.

One thing that makes Collierville especially attractive for rental investors: short-term rentals are prohibited here (Ordinance 2017-10), which means the rental market is entirely long-term. That creates a stable, predictable income stream without the volatility of seasonal STR demand. With 81% of housing being single-family detached and only 19% of households renting, the supply of rental properties is limited — and that scarcity works in your favor. The 2-bedroom average of $1,735 reflects the quality of housing stock and the buying power of Collierville's tenant pool.

$1,694

Average Monthly Rent

$1,735

2-Bedroom Average

+1.51%

Year-over-Year Rent Change

81%

Owner Occupied

Collierville Short-Term Rental Market

Unlike many Memphis-area communities, Collierville has explicitly prohibited short-term rentals in all residential zoning districts since 2017 (Ordinance 2017-10). STR platforms like Airbnb, Vrbo, and HomeAway cannot be used for stays under 30 days. The only exception is licensed bed-and-breakfast establishments. For property owners, this isn't a limitation — it's an advantage. The STR ban means no revolving door of weekend guests in your neighborhood, higher tenant quality, more predictable income, and property values that aren't impacted by party-house complaints. Collierville made a deliberate choice to protect its residential character, and that decision directly benefits long-term rental owners.

2017

STR Ban Enacted

All Zones

STR Prohibited

30 Day

Minimum Lease Requirement

BNB

Exception for Licensed B&Bb