Apartments for Rent in Memphis, TN

Prices and availability in Memphis, TN were last updated on 6 May 2026.

The best apartments in Memphis, TN are: Metro67, Grand Island Apartments, Lofts at Union Alley, The Courts Midtown and City Place at Germantown Apartments.

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

The price range for a studio apartment in Memphis, TN is between $550 and $2,250.

The price range for a 1-bedroom apartment in Memphis, TN is between $300 and $4,034.

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 $6,216.

In Memphis, 54% of the residents are renting compared to 46% owning a home, according to data from the U.S. Census Bureau. Large-scale apartment buildings with more than 50 units represent 10% of Memphis's rentals, 50% are small-scale complexes with under 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.