Apartments for Rent in Memphis, TN

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

The best apartments in Memphis, TN are: Conwood Flats Apartment Homes, The Tennessee Brewery Apartments, Grand Island Apartments, The Summit Apartments 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 $2,254.

The price range for a 1-bedroom apartment in Memphis, TN is between $300 and $4,047.

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 $5,963.

In Memphis 54% of the housing is rented out compared to 46% 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.

Rental apartments in Memphis come in a range of sizes and floorplans. Studio apartments represent 3% of units for rent, ideal for singles, renters on a budget and people who value central locations more than space. Rentals with 1-bedroom floorplans make up 36% of the total apartments in the city, while 2-bedroom floorplans represent around 50% of all rentals in Memphis. The rest are larger floorplans with 3 bedrooms or more, typically preferred by families, larger households or roommates sharing space.