birthplace of blues, soul, and rock 'n' roll

Downtown Memphis is where the city comes alive. From the neon glow of Beale Street to the galleries of the South Main Arts District, this is the most visited destination in Tennessee — and one of the strongest rental markets in the Mid-South. Whether you own a condo overlooking the Mississippi, a loft in South Main, or a renovated unit in the Pinch District, your property sits in the middle of year-round demand from tourists, traveling professionals, and long-term renters drawn to urban living.



Longstep Property Solutions provides full-service property management for Downtown Memphis owners — handling everything from guest turnover and dynamic pricing for short-term rentals to tenant screening and lease management for long-term units. We know these streets because we’re local, and we manage properties across Downtown’s distinct sub-neighborhoods so you get area-specific expertise, not a one-size-fits-all approach.

Downtown's Key Sub-Neighborhoods

Beale Street & Entertainment District

Beale Street is the most visited attraction in the state of Tennessee. The surrounding entertainment district draws millions of visitors annually for live music, restaurants, FedExForum events, and festivals. Properties within walking distance of Beale consistently command the highest nightly rates in the Memphis short-term rental market. If you own here, occupancy during peak weekends and event nights approaches 90%+.

South Main Arts Disctrict

One block south of Beale, the South Main Arts District is a one-square-mile neighborhood of locally owned shops, chef-driven restaurants, galleries, and vibrant murals. South Main attracts a different traveler — guests looking for a boutique, walkable Memphis experience. It’s also increasingly popular with long-term renters who want urban living without the Beale Street noise. Lofts and converted warehouse units are the dominant property types here.

Pinch District & Uptown

Downtown Memphis is the epicenter of the city’s short-term rental market. Proximity to Beale Street, the convention center, FedExForum, and the riverfront drives consistent tourist and business traveler demand throughout the year, with peak seasons in spring and fall.

Downtown Memphis Long-Term Rental Market

Downtown Memphis has seen steady rent growth as more professionals, students, and remote workers seek walkable urban living. The area’s mix of historic lofts, modern apartments, and renovated condos creates a diverse rental stock that appeals to a wide tenant pool.



One thing worth noting: the 3-bedroom average is actually lower than the 2-bedroom average Downtown. That’s because larger units Downtown tend to be older, un-renovated spaces, while 2-bedrooms skew toward newer luxury loft conversions. This creates an opportunity for owners of larger units who invest in quality finishes — you can price well above the average with the right upgrades and staging.

$1,403

Average Monthly Rent

$1,310

1-Bedroom Average

+1.49%

Year-over-Year Growth

13.6%

Metro Vacancy Rate

Downtown Memphis Short-Term Rental Market

Downtown Memphis is the epicenter of the city’s short-term rental market. Proximity to Beale Street, the convention center, FedExForum, and the riverfront drives consistent tourist and business traveler demand throughout the year, with peak seasons in spring and fall.

$131-$179

Average Daily Rate

54%

Average Occupancy

1,945+

Active Memphis Listings

$35-$50K+

Annual STR Revenue

Memphis Short-Term Rental Permit Requirements