The Home Buyer's Korner

Information presented should be used for educational purposes only.

August 29th, 2015

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CREATING THE DREAM OF HOME OWNERSHIP

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Harbor Town/Mud Island Neighborhood

Memphis, Tennessee 

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When you cross the AW Wills Bridge onto Mud Island, take a deep breath and relax.  You’ve just entered a resort-like community where the majestic, expansive views of the Mississippi River seem to melt away stress. Yachts and boats bob in the Harbor Town marina, luxury condos line the Wolf River, and joggers take in sunset runs along Greenbelt Park. Today, more than 5,000 people live here enjoy the movie-set charm of their neighborhood. Mud Island (technically it’s a peninsula) is its own special self-contained community where you can fill an entire day from sun up to sun down with a leisurely pace.  

The median real estate price in the Harbor Town/Mud Island neighborhood of Memphis, Tennessee is currently coming in at $239,900, which is more expensive than over 89 percent of the neighborhoods in the state and 65 percent of the neighborhoods in the country.

The average rental price in the Harbor Town/Mud Island neighborhood is currently just under $1,250 a month. The average rental cost in this neighborhood is higher than 96 percent of the neighborhoods in Tennessee. Most of the residential real estate is occupied by a mixture of owners and renters.

Real estate vacancies in the Harbor Town/Mud Island neighborhood are slightly over six percent, which is lower than one will find in nearly 68 percent of all the neighborhoods in the country. Demand for real estate in the Harbor Town/Mud Island neighborhood is above average for the country, and signals demand for either price increases or new construction of residential homes in this neighborhood.

Harbor Town/Mud Island a suburban neighborhood located in Memphis, Tennessee and primarily made up of small studios to two bedroom to medium sized three or four bedroom single-family homes and condominiums. Many of the residences in the Harbor Town/Mud Island community are established, but not old, having been built between 1970 and 1999, with a number of residences built between 2000 to present day.

The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flair, can make all the difference when choosing a neighborhood to call home. This community has some really cool things about the way it looks and feels, including the housing stock to the types of households living here.

The rate of college educated adults in the Harbor Town/Mud Island neighborhood is a unique characteristic of the neighborhood, with nearly 81 percent of adults having received at least a 4-year bachelor’s degree, compared to the average neighborhood in America, which has almost 23 percent of the adults with a bachelor’s degree. 

The Harbor Town/Mud Island neighborhood stands out within Tennessee for its college student friendly environment. This neighborhood is home to a number of college students, is relatively walkable and above average in safety. This makes it stand out for a good place for college students to consider. The neighborhood is close to a number of college campuses and universities and offers certain amenities nearby geared towards the student body.

While it’s not an environment for everyone, ambitious scholars can enjoy the seasonal excitement between semesters and school breaks.  Many of those attracted to the Harbor Town/Mud Island community are teachers, professors, administrators or families with an interest in one of the schools. While, many home buyers coming to the area are affiliated with one of several universities and colleges nearby. If you have a college bound child check out our Kiddie Condos blog post and see if it’s something that’s right for you. In addition to being an excellent choice for college students, this neighborhood is also a very good choice for young, single professionals.

Your future neighbors in the Harbor Town/Mud Island community of Memphis earn upper middle class incomes and this neighborhood has a higher income than over 70 percent of all the neighborhoods in America

The Harbor Town/Mud Island community has a higher proportion of its residents employed as executives, managers and professionals than nearly 97 percent of the neighborhoods in America. In fact, over 66 percent of the employed people here make a living as an executive, a manager, or other professional. With such a high concentration, this truly shapes the character of this neighborhood and to a large degree defines what this neighborhood is about.

The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with almost 18 percent of the residents employed. Other residents here are employed in manufacturing and laborer occupations at over 12 percent and eight percent in government jobs, whether they are in local, state, or federal positions.

Culture is the shared and learning behavior of peoples. Undeniably, different ethnicity and ancestry have different cultural traditions and as a result, neighborhoods with concentrations of residents of one or another ethnicity or ancestry will express those cultures.

In the Harbor Town/Mud Island community of Memphis, Tennessee, residents most commonly identify their ethnicity or ancestry as Asian at nearly nine percent. There are also a number of people of English ancestry eight percent and residents who report Irish roots at over seven percent. Some of the residents are also of German ancestry at more than six percent, along with some Italian ancestry residents at almost three percent, among others. In addition, over 11 percent of the residents of this neighborhood were born in another country.

The most common language spoken in the Harbor Town/Mud Island community is English, spoken by nearly 88 percent of households. Approximately four percent of households speak Spanish and nearly one percent speaks Mon-Khmer, which is the dominant language of Cambodia.

MEMPHIS HOMES FOR SALE

Livingston Homes for Sale

TENNESSEE HOME OWNERSHIP TOOLS

Your Home Purchasing or Refinancing & Renovation Tools,

Home Improvements, Home Renovations,

Mortgage Loan Officers, Real Estate Agents & General Contractors

are ready to assist you with your home purchase.

Here are just a few of the home improvements

you might consider with any Home Renovation loan

Repair or replace a roof

Install, replace or repair gutters and downspouts

Replace, repair or upgrade your HVAC system

Repair or replace plumbing

Install, repair or replace electrical systems

Kitchen remodeling (including the purchase and installation of appliances)

Bathroom remodeling, Full interior painting, Total exterior painting

Repair or replace a septic system and/or well

Disability access (wheelchair ramp, elevator, widen doorways)

Build, repair or replace deck, patio or porch

Basement waterproofing and finishing

Abatement/Stabilization of lead-based paint hazards

Replace old windows, Room additions, Finish an attic

Add a second story to your home

Replace a termite damaged sill plate (a water-damaged sill plate also)

Possible landscaping items such as correction of grading & drainage problems,

tree removal, repair a driveway and sidewalks

FHA 203K

Your Home Purchasing or Refinancing & Renovation Tool

Mortgage Loan Officers, Real Estate Agents & General Contractors

are ready to assist you with your home purchase

FANNIE MAE HOMESTYLE

The Conventional Alternative to FHA 203K

Great for Real Estate Investors and Second Home Renovations

Mortgage Loan Officers, Real Estate Agents & General Contractors

are ready to assist you with your home purchase

USDA RURAL DEVELOPMENT

Up to $10K for Home Improvements, Renovations or a Simple Remodel

Mortgage Loan Officers, Real Estate Agents & General Contractors are ready to assist you

A SIMPLE HOME SHOPPING INSPECTION TOOL

Organizing your home shopping experience affords a wise decision-making process.

This simple home inspection tool makes your ultimate buying decision a smart one.

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