Rental market snapshot for Hickory Ridge-South Riverdale, Memphis
Hickory Ridge-South Riverdale rental market summary
The rental market in Hickory Ridge-South Riverdale, Tennessee is showing signs of stability. In July 2023, there were 4,921 new listings, indicating that the market is still active. The median rent remained unchanged from June to July at $1,765, suggesting that the market is not experiencing any significant changes in pricing. However, when compared to July 2022, the median rent has increased by 4.1%, indicating that the market is slowly but steadily increasing in value.
Overall, the rental market in Hickory Ridge-South Riverdale, Tennessee is healthy and stable. The number of new listings is still high, and the median rent has increased slightly over the past year. This suggests that the market is likely to remain stable in the near future.
Median rent for all residential properties in Hickory Ridge-South Riverdale
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The most expensive listings and top trending buildings in Hickory Ridge-South Riverdale
Most Expensive Listings
| Address | Rent Price | Bed / Bath |
|---|---|---|
| 4570 Wood Fox Cv | $3,140 | 4 / 2.0 |
| 7953 Lowrance Rd | $3,070 | 4 / 2.5 |
| 7055 Cutter Mill Rd | $3,020 | 4 / 2.5 |
| 7711 Belmont Run Cove | $2,990 | 4 / 2.5 |
| 7480 Easterly Ln | $2,940 | 4 / 2.5 |
Top Trending Buildings
| building name | avg rent price |
|---|---|
| ORO AII MANAGEMENT LLC | $907 |
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Bedroom Breakdown in Hickory Ridge-South Riverdale
Hickory Ridge-South Riverdale neighborhood apartments rents
The rental market for studios in Hickory Ridge-South Riverdale, Tennessee appears to be relatively stable, with only one new studio listing in February 2023. The median rent for studios in February 2023 was $875, though the median rent for January 2023 is not available, so it is not possible to calculate the percent change in rent from January to February. Overall, the rental market for studios in Hickory Ridge-South Riverdale appears to be relatively stable.
The rental market for 1-bedroom apartments in Hickory Ridge-South Riverdale, Tennessee is showing signs of growth. In July 2023, there were 4 new 1-bedroom listings, representing an increase in available rental units. The median rent for 1-bedroom apartments in July 2023 was $909, a 13.6% increase from the median rent in June 2023 of $800. This suggests that demand for 1-bedroom apartments is increasing, and that the rental market is becoming more competitive.
The rental market for 2-bedroom apartments in Hickory Ridge-South Riverdale, Tennessee is showing signs of growth. In July 2023, there was only one new 2-bedroom listing, but the median rent for 2-bedroom apartments increased by 3.0% from June 2023 to July 2023, from $992 to $1,021. This suggests that demand for 2-bedroom apartments is increasing, and that the rental market is likely to continue to grow in the coming months.