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What is the average rent in Memphis?

The average rent of a studio apartment in Memphis, TN is $858. The average rent of a 1-bedroom in Memphis, TN is $893. The average rent of a 2-bedroom in Memphis, TN is $995. The average rent of a 3-bedroom in Memphis, TN is $1,400.

Studio

$858


1 bed

$893


2 beds

$995


3+ beds

$1,400

Note: We calculate "average" rent as the median, or midpoint, to eliminate any skew from extremely high-priced or low-priced units.

Rent Prices Over Time in Memphis

Jun 05 2024Jul 19 2024Sep 02 2024Oct 18 2024Dec 03 2024Jan 18 2025Mar 05 2025Apr 20 2025Jun 20 2025$630$930$1,230$1,800
  • Memphis
  • National

Apartment Rent Ranges in Memphis

The monthly rent for apartments in Memphis, TN ranges from $400 to $2,000+.

$400 - $800

$800 - $1,200

$1,200 - $1,600

$1,600 - $2,000

$2,000+

What is the average apartment size in Memphis?

The average size of a Memphis, TN apartment is 1012 square feet, while the median apartment size for Memphis, TN is 975 square feet. However, square footage varies based on unit type. Most rentals in Memphis, TN (49.72%) are 3+ bedroom apartments, while the fewest (1.11%) are studio apartments. Meanwhile, 2 bedroom apartments account for 31.26%, and 1 bedroom apartments make up 17.91%.

Studio

One bedroom

Two bedrooms

Three+ bedrooms

What is the average rent for various neighborhoods in Memphis?

Studio1 bed2 beds3+ beds
Binghampton**$930$1,590
Central Gardens*$1,349$1,599*
Heights**$895$1,423
Normal Station*$795*$1,538
Orange Mound**$810$1,450
Vollintine-Evergreen**$914$1,550
Whitehaven*$750$995$1,370

Note: We calculate "average" rent as the median, or midpoint, to eliminate any skew from extremely high-priced or low-priced units.

* Insufficient data to calculate value

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