Midtown Southwest median real estate price is $290,795, which is more expensive than 43.1% of the neighborhoods in Tennessee and 36.3% of the neighborhoods in the U.S.
The average rental price in Midtown Southwest is currently $1,201, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 83.0% of Tennessee neighborhoods.
Midtown Southwest is a suburban neighborhood (based on population density) located in Memphis, Tennessee.
Midtown Southwest real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) apartment complexes/high-rise apartments and small apartment buildings. Most of the residential real estate is renter occupied. Many of the residences in the Midtown Southwest neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 2000 and the present.
Vacant apartments or homes are a major fact of life in Midtown Southwest. The current real estate vacancy rate here is 24.6%. This is higher than the rate of vacancies in 92.7% of all U.S. neighborhoods. In addition, most vacant housing here is vacant year round. This can sometimes be the case in neighborhoods dominated by new construction that is not yet occupied. But often neighborhoods with vacancy rates this high are places that can be plagued by a protracted vacancy problem. If you live here, you may find that a number of buildings in your neighborhood are actually empty.
Many things matter about a neighborhood, but the first thing most people notice is the way a neighborhood looks and its particular character. For example, one might notice whether the buildings all date from a certain time period or whether shop signs are in multiple languages. This particular neighborhood in Memphis, the Midtown Southwest neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
One of the unique characteristics of the Midtown Southwest neighborhood revealed by analysis is that the per capita income of residents here is lower than that found in 98.1% of the neighborhoods in America. In a nation where 1 out of every 4 children lives in poverty, the Midtown Southwest neighborhood also stands out as being ranked among the lowest 0.0% of neighborhoods affected by this global issue.
In addition, one of the most interesting things about the Midtown Southwest neighborhood is that it has a greater concentration of residents who live alone than most all neighborhoods in America. With 74.9% of the households here made up of people living alone, NeighborhoodScout's research reveals that this is a larger proportion of people living alone than in 99.9% of the neighborhoods in America.
The Midtown Southwest neighborhood is very unique in that it has one of the highest proportions of one, two, or no bedroom real estate of any neighborhood in America. Most neighborhoods have a mixture of home or apartment sizes from small to large, but here the concentration of studios and other small living spaces is at near-record heights. With 96.1% of the real estate here of this small size, this most assuredly is a notable feature that makes this neighborhood unique, along with just a handful of other neighborhoods in the U.S. that share this characteristic.
From major sales accounts to fast-food workers, sales and service employees are often the backbone of the local economy. In the Midtown Southwest neighborhood, they truly stand out. NeighborhoodScout's exclusive analysis identifies this neighborhood as having a higher percentage of sales and service workers than 98.6% of all American neighborhoods.
Did you know that the Midtown Southwest neighborhood has more British and Russian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 8.7% of this neighborhood's residents have British ancestry and 3.9% have Russian ancestry.
Midtown Southwest is also pretty special linguistically. Significantly, 10.5% of its residents five years old and above primarily speak Vietnamese at home. While this may seem like a small percentage, it is higher than 99.5% of the neighborhoods in America.
The freedom of moving to new places versus the comfort of home. How much and how often people move not only can create diverse and worldly neighborhoods, but simultaneously it can produce a loss of intimacy with one's surroundings and a lack of connectedness to one's neighbors. NeighborhoodScout's exclusive research has identified this neighborhood as unique with regard to the transience of its populace. In the Midtown Southwest neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 97.3% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.
There are two complementary measures for understanding the income of a neighborhood's residents: the average and the extremes. While a neighborhood may be relatively wealthy overall, it is equally important to understand the rate of people - particularly children - who are living at or below the federal poverty line, which is extremely low income. Some neighborhoods with a lower average income may actually have a lower childhood poverty rate than another with a higher average income, and this helps us understand the conditions and character of a neighborhood.
The neighbors in the Midtown Southwest neighborhood in Memphis are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 98.1% of U.S. neighborhoods. In addition, 0.0% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 100.0% of America's neighborhoods.
The old saying "you are what you eat" is true. But it is also true that you are what you do for a living. The types of occupations your neighbors have shape their character, and together as a group, their collective occupations shape the culture of a place.
In the Midtown Southwest neighborhood, 44.1% of the working population is employed in sales and service jobs, from major sales accounts, to working in fast food restaurants. The second most important occupational group in this neighborhood is executive, management, and professional occupations, with 29.3% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (15.4%), and 11.2% in manufacturing and laborer occupations.
The languages spoken by people in this neighborhood are diverse. These are tabulated as the languages people preferentially speak when they are at home with their families. The most common language spoken in the Midtown Southwest neighborhood is English, spoken by 87.4% of households. Other important languages spoken here include Vietnamese and African languages.
Culture is the shared learned behavior of peoples. Undeniably, different ethnicities and ancestries have different cultural traditions, and as a result, neighborhoods with concentrations of residents of one or another ethnicities or ancestries will express those cultures. It is what makes the North End in Boston so fun to visit for the Italian restaurants, bakeries, culture, and charm, and similarly, why people enjoy visiting Chinatown in San Francisco.
In the Midtown Southwest neighborhood in Memphis, TN, residents most commonly identify their ethnicity or ancestry as Asian (10.2%). There are also a number of people of British ancestry (8.7%), and residents who report Irish roots (5.4%), and some of the residents are also of German ancestry (4.7%), along with some English ancestry residents (4.2%), among others.
How you get to work – car, bus, train or other means – and how much of your day it takes to do so is a large quality of life and financial issue. Especially with gasoline prices rising and expected to continue doing so, the length and means of one's commute can be a financial burden. Some neighborhoods are physically located so that many residents have to drive in their own car, others are set up so many walk to work, or can take a train, bus, or bike. The greatest number of commuters in Midtown Southwest neighborhood spend under 15 minutes commuting one-way to work (51.4% of working residents), one of the shortest commutes across America.
Here most residents (85.0%) drive alone in a private automobile to get to work. In addition, quite a number also hop out the door and walk to work to get to work (6.7%) and 5.3% of residents also carpool with coworkers, friends, or neighbors for their daily commute. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.