Memphis's Largest Suburb with a Softening Rental Market

Cordova is a community of nearly 69,000 residents located east of Memphis in Shelby County. Originally settled in 1835 as a farming village, Cordova has grown into the Memphis metro's largest suburban community. The area is anchored by major corridors like Germantown Parkway, Macon Road, and Houston Levee Road, with the Wolfchase Galleria shopping center serving as the commercial hub. Cordova borders Germantown to the south, Bartlett to the north, and offers quick access to I-40 and Shelby Farms Park — one of the nation's largest urban parks.

Longstep Property Solutions provides full-service property management for owners in the Cordova 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 Cordova's distinct neighborhoods so you get area-specific expertise, not a one-size-fits-all approach.

Key Neighborhoods in the Cordova Area

Wolfchase & Germantown Parkway

The Wolfchase area along Germantown Parkway is Cordova's commercial center, home to Wolfchase Galleria, major retailers, restaurants, and apartment communities. Properties here attract tenants seeking walkable access to shopping, dining, and entertainment with easy highway access via I-40 and Highway 64.

Macon Road & Old Cordova

Macon Road is the historic heart of Cordova, home to the original train depot, the Cordova Community Center, and the Shelby Farms Greenline extension. This area features established single-family homes with strong community character. Properties here appeal to tenants who value neighborhood charm, proximity to Shelby Farms Park, and a quieter suburban pace.

Elmore Park & Lakeland Border

The northern and eastern edges of Bartlett border the growing city of Lakeland and feature newer residential developments. This area includes access to Elmore Park and some of Bartlett's newest subdivisions. Properties here appeal to families seeking quality Bartlett City Schools, larger lot sizes, and a quiet suburban environment with easy access to I-40.

Cordova Area Long-Term Rental Market

The Cordova area has strong long-term rental demand driven by its reputation as Memphis's largest and most established suburb, proximity to major employers like FedEx headquarters and Methodist Le Bonheur Healthcare, and convenient access to I-40, Germantown Parkway, and Shelby Farms Park. With a median home price around $300,000–$325,000 and average rents near $1,400–$2,000 depending on property type and size, the area offers solid rental yields in a family-friendly environment. The housing stock consists primarily of single-family homes in planned subdivisions built from the 1980s through the 2000s, along with townhomes and apartment communities near Wolfchase Galleria.

What makes Cordova attractive for long-term tenants: top-rated private and public schools including St. Benedict at Auburndale and Briarcrest Christian School, direct access to the 4,500-acre Shelby Farms Park with its Greenline trail system, walkable shopping and dining along Germantown Parkway, and a median household income of roughly $71,000 that supports a stable renter base. Memphis's lack of a state income tax is an added draw. Properties that are well-maintained and competitively priced see steady demand from families, young professionals, and healthcare workers across the area.

$1,400–$2,000

Average Monthly Rent

$1,432

2-Bedroom Average

+1.3%

Year-over-Year Rent Change

10.6%

Area Vacancy Rate

Cordova Area Short-Term Rental Market

Cordova's short-term rental market benefits from its suburban appeal, proximity to Shelby Farms Park, and easy highway access to Downtown Memphis, Graceland, and other major attractions. Properties here attract families visiting relatives, traveling nurses and healthcare workers at nearby Baptist and Methodist hospitals, and contractors working at FedEx and Amazon facilities. Spacious single-family homes with yards and driveways perform well on platforms like Airbnb and Vrbo, offering guests more space and value than comparable listings closer to Downtown. Average daily rates range from $68 to $151, with occupancy around 37%–65% depending on property quality and season. Properties that are clean, well-furnished, and competitively priced see solid bookings from a mix of leisure and business travelers.

$68–$151

Average Daily Rate

37%–65%

Average Occupancy

1,945+

Active Memphis Listings

$27–$35K+

Annual STR Revenue

Memphis Short-Term Rental Permit Requirements