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3 Bedroom Apartments for Rent in Memphis, TN - 198 Rentals available

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Memphis, TN Demographics

  • Total Population657,167
  • Female 312,782
    Male 344,385
  • Median Age33.5

Average Rent for 3 Bedroom apartments in Memphis, TN

  • The average rent for a 3 Bedroom apartment in Memphis, TN, November 2018$769/mo
  • 1 Bedroom$716
  • 2 Bedrooms$771
  • 3 Bedrooms$927

Memphis, TN 3 Bedroom Apartment Rent Ranges

  • < $5001%
  • $501-$70030%
  • $701-$1,00039%
  • $1,001-$1,50025%
  • $1,501-$2,0004%
  • > $2,0001%

Memphis, TN 3 Bedroom Apartment Rent Trends

Average Rent All rentals Studio 1 Bed 2 Beds 3 Beds
Nov / 2018 $769 $927
Jan / 2018 $765 $920
Sept / 2017 $767 $921
May / 2017 $767 $914
Jan / 2017 $753 $910
Sept / 2016 $752 $903
May / 2016 $743 $894
Jan / 2016 $733 $884
Sept / 2015 $728 $873
May / 2015 $716 $869
/

Memphis, TN Households

  • Total Number of Households249,775
  • Family 145,841
    Non-family 103,934
  • Children 77,074
    No Children 172,701
  • Average People Per Household2.57
  • Median Household Income$36,445
  • Median Housing Costs Per Month$869

Memphis, TN Education Statistics

  • No High School5%
  • Some High School42%
  • Some College25%
  • Associate Degree5%
  • Bachelor Degree15%
  • Graduate Degree8%
  • Most Expensive 3 Bedroom Apartment

    Metro67 $959 - $6,055
  • Cheapest 3 Bedroom Apartment

    Bent Tree $395 - $570

Renting a 3 bedroom apartment in Memphis, TN

Upgrading to a 3 bedroom apartment can have its pros and cons. Most renters who are looking for a three bedroom rental is because they need extra space for a home office, or for a child. This size apartment is also practical to share with roommates as it actually saves money on rent when 3 or 4 people get together to rent a 3 bedroom unit. They are very spacious, averaging around 1,176 Sqft. Or you can get even more space if you select “3+” beds in the top menu. The only down side is that they cost more. In Memphis, TN, rents on 3 bedroom apartments go up to $6,055. 135 rental properties offer 3 bedroom units in Memphis, TN to choose from. You are more likely to find 3 bedroom apartments in primarily residential neighborhoods, away from business districts and urban cores.

Tips on finding a cheap 3 bedroom apartment in Memphis, TN

For most renters, the cost of rent is the major pain point. The larger the apartment, the more money comes out of their pocket. For that reason, cheap 3 bedroom apartments are in high demand and hard to come by. Though rent prices can go as low as $540 in Memphis, TN, the market is still tight. But with a little diligence and some handy search tools, you will find an affordable apartment. Try an area that’s further away from the main city attractions, or try an older building that may have cheaper apartments and a ton of charm. Try searching in more affordable neighborhoods, like Alcy - Dunn or another nearby. Sometimes lower-priced residential areas have diversity and ethnic authenticity that lend them a lot of character and color.