A Historic Community with Affordable Rental Potential

The Raleigh area sits in north-central Memphis, bordered by Bartlett to the east, Frayser to the west, the Wolf River and I-40 to the south, and the Memphis city limits to the north. Once the first county seat of Shelby County — founded in 1824 — Raleigh was annexed by Memphis in 1973 and has since grown into one of the city's largest residential communities. Major corridors like Covington Pike, Austin Peay Highway, and Stage Road anchor the area's retail and dining, while the new Raleigh Springs Civic Center has brought fresh public investment including a library, skatepark, walking trails, and an 11-acre lake.

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

1. Key Pockets in the Raleigh Area

Covington Pike Corridor

The southern stretch of Covington Pike is Memphis's largest concentration of automobile dealerships and related businesses, while the northern section connects to major retail and healthcare anchors. Methodist North Hospital sits at the intersection with Austin Peay Highway. Properties along this corridor benefit from high visibility, steady commercial traffic, and easy access to I-40 for quick commutes to Downtown, Midtown, and East Memphis.

Austin Peay Highway & Stage Road

These two major corridors intersect at the commercial heart of Raleigh, surrounded by fast-food and casual restaurants, grocery stores, shopping centers, and major retailers like Home Depot and Walmart Supercenter. The new Raleigh Springs Civic Center — a 65-acre public campus with a library, skatepark, police station, and scenic lake — sits along Austin Peay. Residential streets branching off these corridors offer affordable single-family homes popular with families and long-term renters.

Wolf River & Bartlett Border

The southern and eastern edges of Raleigh sit along the Wolf River and border the incorporated suburb of Bartlett. This area features some of Raleigh's most elevated terrain with access to the Wolf River Greenway's Epping Way section for biking and hiking. Properties here benefit from proximity to Bartlett's amenities — including Bartlett Municipal Park and Appling Lake Park — while remaining within Memphis city limits and offering lower price points than Bartlett proper.

Raleigh Area Long-Term Rental Market

The Raleigh area has consistent long-term rental demand driven by its affordable housing stock, proximity to major employers like Nike's largest global distribution center, and convenient access to I-40, Bartlett, and downtown Memphis. With a median home price around $150,000-$165,000 and average rents near $900-$1,300 depending on property type and size, the area offers some of Memphis's strongest rental yields for investors. The housing stock consists primarily of single-family ranch-style homes built in the mid-to-late 20th century, along with duplexes and small multi-family properties.

What makes Raleigh attractive for long-term tenants: affordable rents compared to neighboring Bartlett and Cordova, easy commutes via I-40 and major surface streets, access to shopping and services along Covington Pike and Austin Peay Highway, the new Raleigh Springs Civic Center, and proximity to Methodist North Hospital. 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, working professionals, and healthcare workers in the area.

$900-$1,300

Average Monthly Rent

$1,075

2-Bedroom Average

-0.3%

Year-over-Year Rent Change

10.2%

Area Vacancy Rate

Raleigh Area Short-Term Rental Market

The Raleigh area's short-term rental market benefits from its position as an affordable alternative to pricier Memphis neighborhoods, with easy highway access to Downtown, Graceland, and other major attractions. Properties here attract budget-conscious travelers, families visiting relatives, traveling nurses and healthcare workers at Methodist North Hospital, and contractors working at nearby distribution and logistics 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. Properties that are clean, well-furnished, and competitively priced see solid occupancy from a mix of leisure and business travelers.

$100-$175

Average Daily Rate

58%

Average Occupancy

1,945+

Active Memphis Listings

$20-$35K+

Annual STR Revenue

Memphis Short-Term Rental Permit Requirements