Harbor Town (also referred to as Harbortown or Harbour Town)

Memphis, Tennessee

Neighborhood Market Analysis

Q3 2025 Report
$505,000 (Feb 2025, up 6.9% YoY)
Median Home Price
Car-dependent overall, but highly walkable within the neighborhood core (Walk Score: ~60-70 in core areas)
Walkability Score
Nearby public schools are average; private options are highly rated.
School Rating

Location Overview

Neighborhood Boundaries

Located on Mud Island, bordered by the Mississippi River to the west and Wolf River Harbor to the east. Main access via Island Drive.

Zip Codes

38103

Market Data Summary

Price RangeRecent sales range from $320,000 to $505,000+ depending on property type and size.
Price per Sq Ft$513 (Feb 2025, up 116.5% YoY)
Inventory LevelsLow to moderate; 5 homes for sale in May 2025 (up 25% from April).

Property Characteristics

Home Types & Architecture

Home Types

TownhomesSingle-family homesCondos

Architectural Styles

Traditional SouthernContemporaryBrownstone-inspiredModern infill

Property Details

Typical Lot SizesSmall to medium (urban village style, often zero-lot-line or compact lots)
Home Age RangeBuilt 1990s–present; most homes 15–30 years old, some newer infill.
Construction QualityGenerally high, with well-maintained exteriors and upscale finishes.

Community Profile

Demographics & Lifestyle

Demographics

Diverse, with a mix of young professionals, families, and retirees; higher median income than Memphis average.

Community Vibe

Urban village feel; walkable, social, and close-knit; strong sense of neighborhood pride.

Typical Residents

  • Young professionals
  • Families
  • Retirees

Family Friendly

Yes—sidewalks, parks, and community events attract families.

Amenities & Lifestyle

Parks & Recreation

  • Greenbelt Park (riverfront walking/biking)
  • Harbor Town Square
  • Playgrounds
  • Marina access

Dining Options

  • Casual cafes
  • Upscale bistros
  • Riverfront restaurants

Shopping Centers

  • Harbor Town Square (local shops)
  • Downtown Memphis (short drive)

Local Businesses

  • Coffee shops
  • Boutique fitness studios
  • Dry cleaners
  • Local grocers

Education & Schools

Nearby public schools are average; private options are highly rated.
Overall School Rating

Elementary Schools

  • No public elementary within Harbor Town; nearby Downtown Elementary

Middle Schools

  • No public middle within Harbor Town; nearby Downtown Middle

High Schools

  • No public high within Harbor Town; nearby Central High

Private Schools

  • St. Mary's Episcopal School (nearby)
  • Memphis University School (nearby)

Transportation & Accessibility

Transit & Roads

Public Transit

  • MATA bus service (limited)

Major Roads

  • Island Drive
  • A.W. Willis Avenue (connects to downtown)

Commute & Walkability

Commute Times5-10 minutes to downtown Memphis; 20-30 minutes to East Memphis or airport.
WalkabilityWalkable within Harbor Town; car needed for most errands outside neighborhood.
ParkingGenerally good; private garages and street parking common.

Marketing Intelligence

Target Buyer Types

  • Young professionals
  • Relocating executives
  • Empty nesters
  • Small families

Key Selling Points

  • Urban village lifestyle
  • Riverfront parks and trails
  • High construction quality
  • Strong community vibe

Pricing Considerations

Homes often sell below asking; price competitively and highlight unique features.

Common Objections & Response Strategies

Objection: Flood risk and insurance costs

Response Strategy:

Highlight robust levee system and provide recent flood history/insurance quotes.

Objection: Limited public school options

Response Strategy:

Emphasize proximity to top private schools and downtown amenities.

Objection: Higher price per square foot vs. other Memphis neighborhoods

Response Strategy:

Focus on lifestyle, walkability, and unique riverfront setting.

Investment Insights

Investment Potential

Appreciation Potential

Strong, with consistent YoY price growth and limited new supply.

Rental Demand

High, especially for executive and furnished rentals.

Buyer Competition

Moderate; homes sell faster than city average but often below asking price.

Best For

  • Upscale owner-occupants
  • Investors seeking stable appreciation
  • Short-term rental operators

Potential Concerns

  • Flood insurance costs
  • Limited public school access

Professional Recommendations

1

Educate buyers on flood mitigation and insurance.

2

Highlight unique lifestyle and community events.

3

Price homes competitively and prepare for negotiation below list.

4

Leverage professional staging to showcase river views and open layouts.

5

Network with local businesses and relocation specialists to reach target buyers.

Competitive Analysis

Comparable Markets

  • South Bluffs
  • Downtown Memphis
  • East Memphis (for price point)

Market Positioning

Premium urban neighborhood with strong lifestyle appeal.

Competitive Advantages

  • Riverfront location
  • Urban village design
  • Lower crime rates

Price Comparison

Higher price per square foot than most Memphis neighborhoods, but justified by amenities and location.

Investment Metrics

3.5–4.5% (typical for upscale urban Memphis)
Cap Rates
4–5% gross annual yield for long-term rentals
Rental Yields
High (reflects premium market)
Price-to-Rent
Modest for long-term rentals; stronger for furnished/executive rentals
Cash Flow
5–7% annual growth projected (2025–2026)
Appreciation

Buyer Journey Insights

First-Time Buyers

May be priced out; those who buy value lifestyle and safety.

Move-Up Buyers

Attracted by quality of life, walkability, and community.

Downsizers

Appealing for empty nesters seeking low-maintenance, walkable living.

Investors

Strong demand for furnished and executive rentals; stable appreciation.

Relocators

Popular with professionals relocating to Memphis for downtown jobs.

This neighborhood analysis was generated using hyperlocal data and AI intelligence.

Neighborhood conditions change - consult with local real estate professionals for the most current information.

Related Market Intelligence

Explore connected markets and opportunities