East Memphis rentals,
managed end-to-end.
Local expertise for East Memphis property owners. In-house cleaning, maintenance, and laundry. 10% STR. 8% LTR. No hidden fees. Free property analysis for any address you send us.
Rent ladder for East Memphis houses.
Rentometer rent comps for East Memphis single-family rentals across 38117, 38119, and 38120 over the past 18 months. Bedroom counts with fewer than 50 comps are flagged as directional only.
| Bedrooms | Median rent | 25th pct | 75th pct | Sample (n) |
|---|---|---|---|---|
| 2 BR house | $1,475 | $1,332 | $1,828 | 9 † |
| 3 BR house | $1,683 | $1,499 | $1,999 | 160 |
| 4 BR house | $2,200 | $1,927 | $3,015 | 73 |
| 5 BR house | $3,100 | $2,797 | $5,913 | 19 † |
† Sample size under 50. Use as directional guidance, not a market benchmark. All data: Rentometer, house rentals within 12 months, May 2026.
East Memphis's price gradient follows Poplar Avenue.
Click a tier on the map. Rent ranges, comp counts, and neighborhood lists update live. The southern fringe near Park Avenue (Sherwood Forest, Normal Station) is the entry tier. The central band of Sea Isle Park, Colonial Acres, Balmoral, and Pidgeon Estates carries the volume comps. The northern band along Walnut Grove and Sam Cooper (High Point Terrace, Belle Meade, White Station, Hedgemoor) holds the premium stock.
White Station
Four metrics. One thesis.
A-class tenant pool inside Memphis city limits, with full STR permission and the deepest single-family rental comp set in the Shelby County core. The signal in four cards.
The thesis, plain-stated.
East Memphis is the affluent core inside the City of Memphis. The median home sells for $344,000 (Redfin, Feb 2026), the median 3BR house rents for $1,683 (Rentometer, n=160), and the rent-to-price ratio runs 0.49%. That places East Memphis in A-class yield territory, comparable to Germantown and Collierville on cash flow but with full short-term rental permission under City of Memphis Ordinance 5631. The geographic core is 38117 (White Station, Colonial Acres, High Point Terrace), 38119 (Sea Isle, Audubon-adjacent), and 38120 (River Oaks, Belle Meade, Galloway). For the broader Memphis investment thesis, see our analysis of why investors keep choosing Memphis and the 2026 complete guide to Memphis real estate investing.
Investors comparing East Memphis to nearby Germantown will find similar yields and tenant quality at a lower entry price, with the trade-off being Memphis-Shelby County Schools versus Germantown Municipal Schools and a higher combined property tax burden. Those drawn to the same school-district moat at urban entry pricing should look at Midtown , where Cooper-Young and Central Gardens deliver stronger short-term rental economics but smaller homes and older mechanical systems. For investors weighing East Memphis against the turnkey pitch they have seen on out-of-state forums, our Memphis turnkey rental analysis covers what gets left out of the proforma.
Tenant demand is school-district-driven. White Station Middle and White Station High are among the highest-rated public schools in Shelby County, and parents will pay a meaningful monthly premium to live inside the catchment. The private school cluster (St Mary's Episcopal, St Agnes / St Dominic, Margolin Hebrew Academy, Christ Methodist Day School) reinforces the family-renter pool. Add in the University of Memphis, Methodist Le Bonheur, Baptist Memorial, and the corporate campuses along Poplar Avenue (the Gill Properties $10M development at 621 S White Station Rd, announced February 2026, is the latest signal), and you have a wide, diversified tenant base for both LTR and STR. The 2026 Memphis Housing Outlook covers the metro-wide demand drivers underneath this picture.
One honest caveat: East Memphis carries the highest combined property tax burden in the metro for rental investors. Owners pay both the City of Memphis rate ($2.58 per $100) and the Shelby County rate ($2.69 per $100), for a combined $5.27 per $100 of assessed value. On a $344,000 median home that is approximately $4,533 per year, materially higher than Germantown, Collierville, or Bartlett where owners pay county plus a much lower municipal rate. The 2025 reappraisal also raised East Memphis values significantly. If your model depends on tight tax math, run the numbers carefully against the Shelby County Trustee tax calculator before you commit. Pure cash flow investors should look at Raleigh or Whitehaven instead.
A market where pricing is not a guess.
160 three-bedroom rentals from the past 18 months across 38117, 38119, and 38120. σ of $371 (22% of median). The 25th-to-75th-percentile IQR is $500 wide. Distribution is wider than uniform suburban markets, reflecting the mix of compact 38119 ranches and premium 38120 homes.
Six metrics. One image.
The questions out-of-state investors ask before they sign, answered in a single chart. Memphis metro figures from Redfin (Mar 2026), Census ACS, and Data USA.
LTR is the steady play. STR is the seasonal one.
Long-term: predictable , low-churn, school-anchored.
The dominant play in East Memphis. Families lease into White Station and Richland Elementary catchments, sign 12-month terms, and renew through the school cycle. Lease retention is the single biggest contributor to net returns over a 5–10 year hold. Learn more about our approach to long-term rental management for property owners.
- 160 comps · σ $371. Deepest 3BR rental sample of any Memphis neighborhood. IQR is $500 wide.
- 62% owner-occupied (38117). Stable owner base, rental supply is tight relative to demand.
- White Station and East High catchments. School tenure is the moat.
- No lease-up fee. No tech fee. No maintenance markup. Flat 8%, in-house crews. See why in-house maintenance matters.
Short-term: permitted , contracting supply, professionalizing fast.
East Memphis is not a tourism market. STR demand is University of Memphis visitors, Methodist and Baptist Memorial medical travelers, corporate relocations along Poplar Avenue, family visits, and event groups (FedEx St Jude, Memphis in May, U of M graduation). Revenue is real but seasonal. See how LPS STR properties perform across the portfolio in our $196K in 14 months case study and read why only professional operators are surviving the 2026 shakeout.
- $2,100 trough → $3,500 peak. Spring (May) and fall (Sep) own the year, not summer.
- Supply –9.0% YoY. 274 active listings, contracting. Unusual positive in a market where most neighborhoods are still adding supply.
- Permit required. City of Memphis Ordinance 5631: $300 application, $150 renewal, $1M liability minimum, 2 guests per bedroom plus 2 additional. See our Memphis STR rules guide and STR management services.
- $10K–20K furnishing capex. Not in monthly math.
Spring and fall own the year. Not summer.
Monthly revenue swings from a $2,100 February trough to a $3,500 May peak, with a secondary fall peak in September driven by University of Memphis events, medical fellowships, and graduation. Supply is contracting (–9% YoY across 274 listings), an unusual competitive positive while most Memphis submarkets are still adding inventory. ADR up 1.3% YoY, occupancy up 0.3% YoY.
STR revenue & occupancy by month · East Memphis, TN
The East Memphis tenant stays. School-district-driven, school-district-renewed. Lease retention is the single biggest contributor to net returns over a 5–10 year hold.LPS Leasing Desk · Memphis, TN
$344K. 3BR/2BA. Run both ways.
Audubon Park / 38117, pre-debt. LTR at median market rate. STR at AirDNA market average for the East Memphis submarket. Use the LPS calculator to plug your specific numbers.
Long-term rental
8% LPS FEEShort-term rental
10% LPS FEEBoth pre-debt service. STR excludes $10K–$20K furnishing setup. STR seasonal: $2,100 February trough to $3,500 May peak, with a secondary fall peak. Use the LPS Rental Calculator for your own numbers.
Five questions, five honest answers.
What does the management fee actually include?
8% LTR / 10% STR. Covers leasing, screening, rent or guest collection, maintenance coordination, monthly statements, lease enforcement, dynamic pricing (STR), and turnover ops (STR). No lease-up fee. No onboarding fee. No tech fee. No maintenance markup. We run our own crews. For a full breakdown of what East Memphis STR investors are typically paying their managers (and where the hidden fees show up), see what your Memphis STR manager is actually costing you →
How fast does an East Memphis property lease?
14 to 21 days at correct pricing. White Station catchment properties (38117 around Mason and Helene) often lease faster, sometimes within 10 days when family-sized and well presented. We use Rentometer plus our own 160-comp leasing-desk dataset, not Zillow estimates. If a property sits past 30 days, we re-evaluate pricing and presentation. We do not blindly discount.
How do I evaluate a deal before I buy?
Send the address. We return a real rent estimate from East Memphis comps (not a Zestimate), flag micro-location issues that don't show up online (HVAC theft exposure on a corner lot, school catchment edge effects, flood map status, HOA quirks in Galloway or Belle Meade), and tell you if the deal is bad. Free. No obligation. We would rather help you avoid a problem property than inherit one. Out-of-state buyers should also read our out-of-state investing reality check before wiring earnest money.
Do I need an STR permit in East Memphis?
Yes. East Memphis is inside the City of Memphis, so City of Memphis Ordinance 5631 applies. $300 application fee, $150 annual renewal, $1,000,000 minimum liability insurance, property inspection, occupancy limited to 2 guests per bedroom plus 2 additional (a 3BR caps at 8 guests). Maximum stay is 30 days. HOA covenants in River Oaks, Belle Meade, and Galloway can further restrict or prohibit STRs even where the city permits them. Verify before you buy. Memphis STR Rules 2026 →
Is East Memphis safe? What about Memphis crime statistics?
Crime in the East Memphis core (38117, 38119, 38120) is materially lower than the Memphis city average. The Memphis Police Department East Precinct covers the area, with response times faster than the city core. White Station, Belle Meade, River Oaks, and Galloway are statistically among the safest neighborhoods inside Memphis city limits. The macro Memphis crime narrative is a real headwind for marketing STRs to out-of-town guests, which is one reason occupancy here runs lower than in tourist neighborhoods. We address the perception problem directly in how to handle the Memphis crime perception problem with STR guests.
Property taxes: what should I model?
Combined rate $5.27 per $100 of assessed value(Shelby County $2.69 + City of Memphis $2.58081, tax year 2025). Tennessee assesses residential property at 25% of appraised value. On a $344,000 East Memphis median home, expect approximately $4,533 per year in property taxes. The 2025 reappraisal raised East Memphis values significantly, and your actual bill may differ from the calculation if your assessed value moved. Verify via the Shelby County Trustee tax calculator , and read our 2026 reappraisal guide and Memphis rental property tax strategy for the planning side.
What maintenance costs should I plan for in East Memphis?
The East Memphis housing stock skews older. Median construction year in 38117 is 1956. That means roofs, HVAC systems, sewer laterals, original galvanized supply lines, and slab foundations are all candidates for capital expenditure within a 5 to 10 year hold. HVAC theft is a real and recurring issue in East Memphis, particularly for vacant or weekend-occupied properties. Budget $3,000 to $6,000 per year on a typical 38117 ranch for routine maintenance, plus capex reserve. We cover the full picture in maintenance costs nobody warns you about and how owners are fighting back against HVAC theft.
Send your East Memphis address.
We'll send the real numbers.
Not a Zestimate. Actual leasing-desk rent estimates from 160 East Memphis comps across 38117, 38119, and 38120. We'll flag micro-location risks before you wire earnest money.
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