A High-Demand Rental Market in Midtown's Cultural Heart

Cooper-Young is a nationally recognized historic district in Midtown Memphis, centered at the intersection of Cooper Street and Young Avenue. Named one of the American Planning Association's "10 Great Neighborhoods in America" in 2012, this eclectic neighborhood dates back to 1899 and sits within zip code 38104. Its boundaries run from Central Avenue (north) to Southern Avenue (south), and from McLean Boulevard (west) to East Parkway South (east). Cooper-Young is approximately 3–4 miles west of the University of Memphis, about 2 miles south of Overton Park, and roughly 4–5 miles east of Downtown Memphis — making it one of the most centrally connected residential neighborhoods in the city.



The area features approximately 3,495 residents with a strong renter population (roughly 61% renter-occupied), creating consistent demand for both long-term and short-term rental management.

Key Neighborhoods in Cooper Young

The Commercial Core & Young Avenue

The blocks immediately surrounding the intersection of Cooper Street and Young Avenue are the cultural and commercial heartbeat of the district. This is where you'll find the densest concentration of restaurants, bars, galleries, and shops — from Young Avenue Deli and Celtic Crossing to Memphis Made Brewing Co. and Goner Records. The iconic Cooper-Young Trestle, a 150-foot steel sculpture by artist Jill Turman installed in 2000, marks the gateway to the district above Cooper Street. Rental properties within walking distance of this intersection command the highest rents in the neighborhood and stay occupied year-round. For short-term rentals, this pocket delivers the strongest nightly rates and occupancy because guests want to be steps from the action.

North Cooper-Young & Nelson Avenue

The area north of Young Avenue stretching toward Central Avenue is primarily residential, transitioning from the bustle of the commercial core into quiet, tree-lined streets with beautifully preserved Craftsman bungalows and American Foursquares. Streets like Nelson, Evelyn, and Walker feature some of the most architecturally intact homes in the district, many built between 1900 and 1920. This pocket appeals to long-term tenants seeking the Cooper-Young lifestyle without living directly above the nightlife — young professionals, couples, and families drawn by walkability and historic charm. Properties here offer strong rental yields with lower turnover and consistent demand from tenants who rarely want to leave.

South Cooper & East Parkway Corridor

The southern and eastern edges of Cooper-Young along Southern Avenue and East Parkway South connect to the broader Midtown corridor and border the Central Gardens historic district. This area features a mix of residential pockets, smaller commercial nodes, duplexes, and some of the oldest homes in the district — including historic properties on Blythe Street dating to the late 1800s. More affordable entry points for investors combined with proximity to both the Cooper-Young commercial district and Overton Park (roughly 2 miles north) keep tenant demand steady. The southeast quadrant has also seen redevelopment activity in recent years, including the CYCA's community office space, making it an area to watch for appreciation.

Cooper Young Long-Term Rental Market

Cooper-Young's long-term rental market benefits from a population that is roughly 61% renter-occupied, one of the higher renter ratios in Midtown Memphis. The Midtown/Cooper-Young area sees 1-bedroom apartments averaging approximately $1,129–$1,300 per month and 2-bedrooms in the $1,307–$1,443 range. Studios run approximately $1,112–$1,149. These figures run higher than the broader Memphis average (approximately $1,074–$1,152 citywide median), reflecting Cooper-Young's desirability premium.



The median home sale price in the area has recently been in the $258K–$285K range, though renovated Craftsman bungalows can sell from the mid-$100,000s up to $400K+, and larger restored properties can exceed $500K. This relative affordability compared to nearby Central Gardens, combined with the neighborhood's strong culture and walkability, creates an attractive entry point for investors. Properties that are well-maintained and competitively priced see strong, consistent demand with low turnover — tenants who choose Cooper-Young tend to be drawn by the lifestyle, not just convenience, which translates to longer lease terms and greater care for the property.

$1,200

Average Monthly Rent

$1300

2-Bedroom Average

61%

Renter Occupied Housing

82

Walkable Score

Cooper Young Short-Term Rental Market

Cooper-Young is one of Memphis's top-performing short-term rental submarkets. The neighborhood's combination of walkability, cultural attractions, proximity to Overton Park (home of the Memphis Zoo, Brooks Museum of Art, and the Levitt Shell outdoor music venue), and easy access to the Stax Museum of American Soul Music, Overton Square entertainment district, and Downtown Memphis makes it a magnet for leisure travelers, festival-goers, and business visitors alike.

As of mid-2024, Cooper-Young STR properties averaged approximately $165 per night (ADR) — meaningfully higher than the broader Memphis city average of $130–$149. Occupancy rates in the neighborhood hover around 60%, with annual revenue for well-managed properties frequently exceeding $36,000. Seasonality is moderate (rated 65 on a 1–100 scale), meaning demand stays relatively consistent throughout the year rather than being concentrated into a few peak months.

The biggest demand drivers for short-term rentals include: the annual Cooper-Young Festival (the largest single-day festival in Memphis, drawing over 130,000 attendees each September), Memphis Tigers athletics and University of Memphis events, Beale Street and Downtown attractions, and the neighborhood's year-round appeal as a walkable Midtown base camp. Properties that are clean, well-photographed, and positioned as an authentic Memphis neighborhood experience outperform generic listings significantly.

$165

Average Daily Rate

60%

Average Occupancy

130K

Cooper-Young Festival Attendees

$35K+

Annual STR Revenue

Memphis Short-Term Rental Permit Requirements