Popular Zip Codes
Memphis, TN Demographics
- Total Population654,723
Female 311,133Male 343,590
- Median Age33.7
Average Rent in Memphis, TN
- Memphis, TN Average Rental Price, December 2019 $818 /mo
Memphis, TN Apartment Rent Ranges
- < $5006%
- > $2,0001%
Memphis, TN Rent Trends
|Nov / 2016||Mar / 2017||Jul / 2017||Nov / 2017||Mar / 2018||Jul / 2018||Nov / 2018||Mar / 2019||Jul / 2019||Nov / 2019||Dec / 2019|
Average rent is projected to grow by 3% in 2019 compared to 2018.
Please note that projected rent growth is calculated at city level.
Memphis, TN Households
- Total Number of Households250,259
Family 144,263Non-family 105,996
Children 75,502No Children 174,757
- Average People Per Household2.55
- Median Household Income$38,230
- Median Housing Costs Per Month$881
Memphis, TN Education Statistics
- No High School5%
- Some High School41%
- Some College25%
- Associate Degree5%
- Bachelor Degree15%
- Graduate Degree9%
Renting a 2 bedroom apartment in Memphis, TN
Renting a 2 bedroom apartment is ideal if you’re living with someone else, whether it’s your partner, your roommate, or your whole family. The second bedroom gives you enough space for more than one person or can come in handy as a home office that doubles as a guest bedroom. 2 bedroom apartment rentals in Memphis, TN offer a generous 1,034 Sqft of living space for an average monthly rent of $1,246. Your apartment quest is going to be different depending on where and what you’re looking for. If you’re focusing on more expensive neighborhoods, like Mud Island, rent prices for 2-bedroom apartments can run up to $3,027. If you’re looking primarily in affordable neighborhoods, like Whitehaven, you will find cheap 2 bedroom apartments with rents as low as $445.
Things to remember when looking for a cheap 2 bedroom apartment in Memphis, TN
There is a series of factors that determine the price of a rental apartment in Memphis, TN. Its location is probably at the top of the list. The closer a building is to the city center, or to a public transportation station, the more expensive it is. The same goes for buildings located in popular areas with a high density of quality dining, shopping and entertainment options. That’s because most renters would rather be close to where things are happening, thus creating an increased demand for those apartments. Another determinant is the quality of the building, as in how old it is, how well maintained, what amenities it offers. Similarly, the quality of the apartment unit itself is a factor. A furnished apartment will most certainly cost more than an unfurnished one. One that has newer appliances, or has been remodeled recently, is going to demand a higher price. On the flip side, you can find some really good deals if none of these factors are a priority for you. There are 59 apartment buildings in Memphis, TN you can explore that offer all types of floor plans, including cheap 2 bedroom apartments.