Apartments for Rent in Memphis, TN

Prices and availability in Memphis, TN were last updated on 19 May 2026.

The best apartments in Memphis, TN are: Parcels at Concourse, City Place at Germantown Apartments, Grand Island Apartments, The Junction and The Edge of Germantown.

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

The price range for a studio apartment in Memphis, TN is between $550 and $2,193.

The price range for a 1-bedroom apartment in Memphis, TN is between $300 and $3,975.

The price range for a 2-bedroom apartment in Memphis, TN is between $450 and $22,006.

The price range for a 3-bedroom apartment in Memphis, TN is between $550 and $5,324.

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 age and size of multifamily buildings are among the most visible characteristics of the rental market in a city. In this case, the apartment buildings in Memphis are about 39 years old, on average. Of these, 27% have been built since 2000, representing the newer options on the market and typically offering more amenities. Rental buildings in the city have an average height of 3 stories. About 93% of the rental communities here are low-rise, garden-style communities, 4% are mid-rises, and 5% are high-rise buildings. These are true especially for large-scale multifamily buildings with over 50 apartments.

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.