Apartments for Rent in Memphis, TN

Prices and availability in Memphis, TN were last updated on 5 Oct 2026.

The best apartments in Memphis, TN are: The Edge of Germantown, The Summit Apartments, Grand Island Apartments, Appling Lakes and The Junction.

The average rent in Memphis, TN is $1,096.

The price range for a studio apartment in Memphis, TN is between $550 and $3,203.

The price range for a 1-bedroom apartment in Memphis, TN is between $300 and $3,849.

The price range for a 2-bedroom apartment in Memphis, TN is between $450 and $6,454.

The price range for a 3-bedroom apartment in Memphis, TN is between $650 and $6,908.

In Memphis 55% of the housing is rented out compared to 45% of homes are owned, according to the most recent Census Bureau estimates. 10% of Memphis's apartments are found in large buildings of 50 units or more, 50% are located in smaller apartment complexes with less than 50 units, and 39% are single-family rentals.

The average age of rental buildings in Memphis is 39 years old, with 27% being newer apartment buildings completed since 2000. The average height of apartment buildings in the city is 3 stories, of which 93% are garden-style apartment communities, 4% are mid-sized buildings, and 5% are high-rises. These characteristics describe large-scale apartment communities of 50 apartments or more.

Studio apartments in Memphis are around 3% of rentals, while 1-bedroom floor plans represent 36% of the total stock. For those in search of larger rentals, 2-bedroom floorplans make up 50% of all rentals. More generous apartments with 3 bedrooms or more are also available in this city for those in search of more space.