Median rent
for residential apartments
in Memphis, TN
as of May, 2023.
Remember to negotiate your rent according to median rental prices. Also, take into account that the price depends on the size/amenities of the apartment.
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1,095 Memphis, TN, USA apartments for rent
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$2, 000 - Classic Midtown 4 Bedroom 1.5 Bathroom Home In Memphis With Great Amenities
289 N Montgomery St
4
Bed
1.5
Bath
2,300
Sq Ft
Amazing Midtown Bungalow with private drive for parking
355 Marianna Street
2
Bed
1
Bath
1,000
Sq Ft
VERY LARGE FAMILY HOME CLOSE TO SEA ISLE ELEMENTRY. PERFECT FOR LARGE OR EXTENDED FAMILY. EXCELLENT CONDITION. INCLUDES LARGE, PRIVATE MOTHER IN LAW WING.
1492 Vera Cruz Street
6
Bed
4
Bath
3,287
Sq Ft
$925 - 2 Bedroom 2 Bathroom Condo Flat In Memphis
4722 Columbine Ct, Unit 046
2
Bed
2
Bath
1,092
Sq Ft
$1, 095 - 4 Bedroom 2.5 Bathroom House In Cordova With Great Amenities
1012 Spanish Trail Ln
4
Bed
2.5
Bath
1,655
Sq Ft
$1, 400 - 3 Bedroom 2 Bathroom Apartment In Memphis With Great Amenities
65 N Belvedere Blvd, Unit 202
2
Bed
2
Bath
1,100
Sq Ft
$900 - 2 Bedroom 1 Bathroom Apartment In Memphis With Great Amenities
1493 Gaither St, Unit 2
2
Bed
1
Bath
715
Sq Ft
Studio Cottage (utilities included) $695 - 1 Bedroom 1 Bathroom Apartment In Memphis With Great Amenities
4410 Stage Road, Unit Cottage
1
Bed
1
Bath
500
Sq Ft
$2, 750 - 2 Bedroom 2.5 Bathroom Townhouse In Memphis With Great Amenities
463 Frontline Cove, Unit 463
2
Bed
2.5
Bath
1,700
Sq Ft
$975 - 2 Bedroom 1 Bathroom Apartment In Memphis With Great Amenities
615 High Point Terrace, Unit 6
2
Bed
1
Bath
900
Sq Ft
$2, 195 - 4 Bedroom 2 Bathroom House In East Memphis With Great Amenities & Location
1254 Estate Dr
4
Bed
2
Bath
1,900
Sq Ft
$800 - 2 Bedroom 1 Bathroom Apartment In Memphis
3791 Helen Ann Drive, Unit 1
2
Bed
1
Bath
800
Sq Ft
$1, 850 - Freshly Renovated 3 Bedroom 2 Bathroom House In East Memphis With Great Amenities
4780 Mockingbird Lane
3
Bed
2
Bath
1,650
Sq Ft
$1, 850 - 3 Bedroom 2 Bathroom House in a great location in EAST Memphis with great Amenities
4780 Mockingbird Lane Side B
3
Bed
2
Bath
1,650
Sq Ft
$2, 050 - 3 Bedroom 2 Bathroom House In Collierville With Great Amenities
1103 Verlington Drive
3
Bed
2
Bath
1,537
Sq Ft
Unique boutique style one-bedroom apartment in the heart of midtown.
1517 Madison Ave, Unit 202
1
Bed
1
Bath
950
Sq Ft
$825 - 2 Bedroom 1 Bathroom House In West Memphis With Great Amenities
1912 E Barton Ave
2
Bed
1
Bath
900
Sq Ft
$975.00- 2 Bedroom 1 Bathroom Apartment In Memphis With Great Amenities
615 High Point Terrace, Unit 8
2
Bed
1
Bath
900
Sq Ft
$1, 025 - 1 Bedroom 1 Bathroom Condo In Memphis With Great Amenities
3080 Walnut Grove Road, Unit 305
1
Bed
1
Bath
904
Sq Ft
$1, 010 - 3 Bedroom 2 Bathroom House In Memphis With Great Amenities
2568 Kilgore Cove
3
Bed
2
Bath
1,515
Sq Ft
$3, 850 - 5 Bedroom 4 Bathroom House In Germantown With Great Amenities
1879 Corbin Cove
5
Bed
4
Bath
$2, 400 - 3 Bedroom 3.5 Bathroom House Near University of Memphis
3654 Douglass Avenue
3
Bed
3.5
Bath
2,140
Sq Ft
$1, 295 - 3 Bedroom 2 Bathroom House In Memphis With Great Amenities
7028 Cannondale Cove
3
Bed
2
Bath
1,526
Sq Ft
Condo For Rent In Memphis, Tennessee
The Slider Inn, 363 Mulberry Street, Memphis, TN 38103, USA
2
Bed
1
Bath
Home For Rent In Bartlett, Tennessee
Bartlett First Assembly of God, Memphis Arlington Road, Ellendale, Bartlett, TN 38133, USA
4
Bed
3
Bath
Memphis
Welcome to the home of blues and the birthplace of rock’n’roll. Memphis is the heartbeat of the southeast - chock full of delicious southern food, strong music, and diverse culture. Memphis is definitely the place to be.
| Population | 650,632 |
| Median Age | 34.3 |
| Poverty Rate | 27% |
| Household Income | $37,199 |
| Number Of Employees | 290,457 |
| Median Property Value | $103,700 |
City Overview
Over 650,000 people live in Memphis, making it the largest city in the state of Tennessee and the 23rd most populous city in the country. We can thank Memphis for B.B. King, Elvis Presley, and the world’s best barbecue. University of Memphis, Rhodes College, and University of Tennessee Health Science Center are the top-rated universities in the city.
Cuisine
Have you ever had BBQ spaghetti? What about a vodka pie? Chances are that you haven't - but you absolutely should! A great first stop is Interstate Bar-B-Q on 3rd street to try their signature pork, barbecued and served over a plate of spaghetti. Pizza served with vodka cream sauce is the exciting brainchild of Aldo’s on South Cooper. There are many eclectic treats to choose from in this southwestern Tennessee city.
Culture
Music is king in Memphis. Every year, thousands of music lovers from all around the world flock to the city for Beale Street Music Festival. From the blues to jazz to trendy pop music - all genres play along nicely in different pockets of the city.
Demographics
Memphis is a mixing pot. Memphis is a religious center of the Southern United States. It has churches and temples of Baptist, Catholic, Episcopal, Methodist, Presbyterian, Congregational, and other Christian denominations, as well as Jewish congregations. Additionally, it is a home to 15,000 Muslims of various cultures and ethnicities.
Landmarks
Graceland, Beale Street Historic District, National Civil Rights Museum, Sun Studio, Rock and Roll Museum, Memphis Brooks Museum of Art, Mud Island, Shelby Farms, Memphis Zoo, Memphis Pyramid.
Outdoors
A rare taste of Japan can be felt at the Botanical Garden of Memphis; 100 acres have been dedicated to showcasing sprawling floral arrangements plucked from the most obscure parts of the world. Enjoy a weekend concert amidst the Kiku blossoms.
Housing Trends
Average apartment rent in Memphis:
$3,024 (-44.7%)
Rent Price |
May | vs Last Month |
|---|---|---|
| Studio apartments | $1,683 | -40.7% |
| 1-bed apartments | $2,159 | -32.2% |
| 2-bed apartments | $2,179 | -39.6% |
| 3-bed apartments | $3,038 | -46.4% |
| 4+ bed apartments | $7,687 | -38.2% |
Over the May 2023, the average rent for an apartment in/near Memphis, TN decreased by 44.7% to $3,024.
Compared to the last month, the average price for a rental studio in Memphis, TN has decreased by 40.7%. You can expect to rent the studio for $1,683 on average this month. Breaking it down in details, we now see that the average price for 1-bed apartment decreased by 32.2% to $2,159. Pricing for 2-bed apartment also decreased by 39.6% and a place of this size will now cost you $2,179. 3-bed apartment rent pricing starts at $3,038, it decreased by 46.4% lately. We tend to note the rise of 4- and more bed apartment pricing. It decreased by 38.2% and made it down to $7,687.
Rent Type Price |
May | vs Last Month |
|---|---|---|
| Townhouses for rent | $2,853 | -26.1% |
| Houses for rent | $4,507 | -41% |
| Condos for rent | $2,398 | -45.2% |
| Apartments for rent | $2,244 | -23.8% |
| Rooms for rent | $816 | +19.1% |
| Duplexes for rent | $1,495 | N/A |
The median rent for an apartment in Memphis, TN decreased by 23.8% to $2,244. Statistics show that house rent price decreased by 41% this month making it up to $4,507. Condos faced an upward trend these days. The median rent for a condo decreased by 45.2%, it’s now available for $2,398. An average duplex is now available for $1,495, cause median rent for a duplex remains the same this month. An average room will now go for $816, the median rent price for a room increased by 19.1%. The median rent for a townhouse decreased by 26.1%, you’ll have to spend around $2,853 to get one.
Rent vs Own
Finding Apartments For Rent in Memphis
Search many places for rent with Rentberry. Neighborhoods in Memphis have very distinctive landmarks and personalities, so be sure to read our neighborhood write-up below to find the best apartment or townhomes for rent. Want to live above the water? Look for duplexes or condos for rent facing the Mississippi River. Searching for a home with a Victorian bathtub? Apply filters by the most important amenities with Rentberry. What is the most important factor while searching for apartments? Location? Having a home with all utilities included? You can be as specific as you like while searching for properties in Memphis. You can select a gym, parking garage, high ceilings or anything else you’d like to be a part of the place you’ll settle in for a while. Looking for long-term apartments for rent with Rentberry is not only easy, but it also saves you a lot of time.
Use Rentberry to upload your rental information such as credit check results, references or anything else that shows you’re the perfect applicant to rent out to. Still, haven’t found a perfect rental property? Search for thousands of long-term townhouses, condos, or apartments for rent in Memphis. You can also look for apartments or duplexes with utilities included in the Memphis metropolitan area. Looking for spacious apartments in Cooper-Young? Use Rentberry to search thousands of townhouses and homes for rent in Memphis’ best neighborhoods. Search 3, 4 and 5 bedroom homes in Memphis, Tennessee. Don’t leave your pets at home - bring them along! Search through thousands of pet-friendly apartments for rent in Memphis. Are you a student? Search for Memphis apartments for rent located around the top educational institutions - University of Memphis, Rhodes College, and University of Tennessee Health Science Center.
Memphis Neighborhoods
Downtown Memphis
Just a stone's throw from the Mississippi River lies the downtown barrio. Trendy young professionals flock to the area because of diverse entertainment opportunities this district of Memphis offers. There's no shortage of lovely things to do. Listen to the blues at BB Kings Blues Club on Beale St or get down to some electronic music at Club 152 or drink yourself to Dublin at Irish pub Silky O’Sullivans. Look for condos or houses in downtown Memphis that start around $1,000 per month.
Victorian Village
Much like the name suggests, Victorian mansions line the streets of this eclectic neighborhood. Traipse between authentic homes repurposed as bed & breakfasts, bespoke hotels and one of a kind restaurants. Search for unique living spaces in Victorian Village for rent.
Midtown
Hipsters, political activists, leftists, and artists make up this super diverse neighborhood. If raging against the machine is your things - you're in the right place. Dive into craft beers at Earnestine & Hazel’s on South Main, or cheap cocktails at The Cove on Broad Avenue. Local artists pour into The Lamplighter Lounge on Madison avenue, collaborating over colorful stories and bottomless whiskey cocktails. Young artists looking for apartments in Memphis, Tennessee, flock to Midtown. Join them!
Frayser
This lush neighborhood is known for its rolling hills and plush greenery. For a lazy Sunday, you have a pick of beautiful parks to enjoy an afternoon BBQ. Locals flock to Davy Crockett Park, Firestone Park, or Rodney Baber Park for a relaxing end to the grueling week. Average homes for rent starting at $30,000 in Frayser.
Harbor Town
Harbor Town is the most laid-back neighborhood in Memphis. Residents move at 2 mph in this area. Enjoy a hearty helping of slow-broiled crawfish and gumbo from DeJavu restaurant on South Main, then slowly meander down to Westy’s on the same street for gracious servings of homemade apple pie. Townhomes for rent in Harbor Town start at $980 per month.
Uptown
Want to get away from the hustle and bustle of a downtown? Head a few blocks north and revel in the quaint beauty of Northern Memphis. Check out Stax Museum, Shelby Farms Park, and Brooks Museum to learn about the history of Memphis. You can find studio apartments for rent here and single-family properties for a moderate price.
Cooper-Young
Cooper-Young is the happening neighborhood in the city. Craft beer lovers will want to visit Memphis Made Brewing Company on Cooper street and the local Irish pub Celtic Crossing. Vegans should try out Imagine Vegan Cafe for meatless versions of American classics like barbecue, fried chicken sandwiches as well as mac and cheese. You can find all kinds of apartments or houses for rent in Cooper-Young.
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Neighborhoods in Memphis
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