Apartments for Rent in Memphis, TN
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Memphis, TN in the News

1 in 3 Renters Are Looking to Upsize to an Extra Bedroom: What It Costs & Where to Upgrade for Less

Upgrading your apartment in Memphis, TN costs just 12% more, adding an average of $104 to your rent, to be more exact. What’s more, this is actually lower than the average monthly transportation cost in the city ($185). So, in addition to repurposing the time spent on commuting, you would also be able to redirect your money toward getting more square footage.

The Hottest Rental Markets in the U.S.: Mid-sized Hubs Take the Lead in Competivity

Memphis, TN, closely follows the two Florida markets in the top — Jacksonville and Tampa —, with a 40.75 competitive score.

Year-End Report 2020: Rental Season Delayed and Cut Short, Gen Z Renters Overtake Gen X, and Big City Rents Drop

In 2020, Memphis saw the most pronounced downturn, a significant 21% drop in rental applications to and from the city. At the same time, Memphis saw a 5.4% surge in rent prices in 2020, which pushed its average rent up to $863.

The Best Cities for Millennial Renters: Austin Challenges Seattle for the Throne

Memphis attracts Millennial renters mostly from in-state cities or nearby towns — the city is still developing as economic and cultural Gen Y hub, so it still has a ways to go before competing with the nation’s largest urban cores.

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Frequently Asked Questions

When were prices and availability in Memphis, TN last updated?

Prices and availability in Memphis, TN were last updated on 13 Aug 2022.

What are the best apartments in Memphis, TN?

The best apartments in Memphis, TN are: The Edge of Germantown, The District, The Nova, Edge at Lakeview and The Local.

What is the average rent in Memphis, TN?

The average rent in Memphis, TN is $1,056. Start your search for apartments in Memphis, TN now.

What is the price range for a studio apartment in Memphis, TN?

The price range for a studio apartment in Memphis, TN is between $625 and $3,525. View all studio apartments in Memphis, TN.

What is the price range for a 1-bedroom apartment in Memphis, TN?

The price range for a 1-bedroom apartment in Memphis, TN is between $599 and $4,302. Browse all available 1-bedroom apartments in Memphis, TN now.

What is the price range for a 2-bedroom apartment in Memphis, TN?

The price range for a 2-bedroom apartment in Memphis, TN is between $375 and $5,347. Browse and find a 2-bedroom apartment in Memphis, TN.

What is the price range for a 3-bedroom apartment in Memphis, TN?

The price range for a 3-bedroom apartment in Memphis, TN is between $716 and $6,701. Browse all available 3-bedroom apartments in Memphis, TN.

Renter's guide to Memphis, TN

Not many cities have more culture and history than Memphis. Whether it's Aretha Franklin, Johnny Cash, or Elvis Presley—they all got their start in this Tennessee city. Memphis is rated among the top cities for live music, particularly blues.

But music history isn't the only thing to look forward to in Memphis. The city's also known for its incredible food and great arts scene.

And it ranks among the best cities in the country for starting a business—the first Holiday Inn and Piggly Wiggly were launched in Memphis, for instance.

While Memphis has the largest population of any city in Tennessee, it's 60% smaller than Nashville in overall size. At 324 square miles, however, Memphis is still almost three times bigger than Atlanta, GA.

Memphis is located 210 miles from Nashville and 383 miles from Atlanta, making both cities accessible by car.

The weather in Memphis is considered humid subtropical, which means very warm and humid summers, with an average temperature of 83ºF. Of course, it gets plenty hotter than that.

Winters are a bit chillier, with an average temp of 41°F, and snow is fairly common during the coldest months.

Memphis, TN Demographics

Total Population650,910
Female 307,896

Male 343,014
Median Age34.2

Memphis, TN has a population of 650,910 according to the most recent data from the U.S. Census Bureau. 343,014 of Memphis’s residents are women and 307,896 are men. The median age of those who live in Memphis, TN is 34.2.

Cost of Living in Memphis, TN

Cost of living is always a big factor in choosing a place to live. So what kind of budget does Memphis require?

Let's take a look at some basic expenses. For a dinner for two at a middle of the road restaurant, you can expect the check to be around $40. Add an extra $2.75 for each bottle of domestic beer.

When it comes to public transportation, bus fare comes in at $1.75 per ride—or $1.35 if you're a student. $50 will get you a 31-day pass.

Then there's your bills. For a 915-square-foot apartment you'll be looking at a utility bill of around $115, after you account for electric, heat, water, and waste collection. Keep in mind that the national average is $147.

Average Rent in Memphis, TN

Memphis, TN Average Rental Price, July 2022 $1,056 ^/mo

The average monthly rent of apartments in Memphis, TN is $1,056.

Memphis, TN Apartment Rent Ranges

About 25% of apartment rents in Memphis, TN range between $1,001-$1,500. Meanwhile, apartments priced over $1,501-$2,000 represent 12% of apartments. Around 43% of Memphis’s apartments are in the $701-$1,000 price range. 17% of apartments are priced between $501-$700.

Memphis, TN Rent Trends

Average Rent	Mar / 2019	Jul / 2019	Nov / 2019	Mar / 2020	Jul / 2020	Nov / 2020	Mar / 2021	Jul / 2021	Nov / 2021	Mar / 2022	Jul / 2022
Memphis, TN	$787	$806	$815	$825	$845	$863	$887	$953	$984	$1,005	$1,056
National	$1,375	$1,407	$1,415	$1,416	$1,406	$1,410	$1,418	$1,501	$1,596	$1,634	$1,706

Compared to the national average rent of $1,706, the average rent in Memphis, TN is $1,056.

Check out the average rent prices in Memphis by neighborhood.

Living in Memphis, TN

Let's take a look at some of the pros and cons of living in Memphis, TN.

Living in Memphis has some definite pros, like the city's rich culture, excellent food, great music, and bustling nightlife. All of that contributes to a strong tourism industry. If munching on ribs and listening to live blues is your thing, this place can't be beat.

But the Blues Capital has some definite drawbacks as well, particularly the high crime and poverty rates, combined with less-than-ideal public schools. These aren't deal breakers for most Memphis residents, but they're definitely something to keep in mind.

Things to do in Memphis, TN

There's never a shortage of things to do in Memphis. For starters, you've got the iconic Beale Street, which serves as hub for music, food, and nightlife. The street is over a mile long and has tons of restaurants and venues to choose from.

From there, you can spend some time learning about the history of blues and rock 'n' roll. Graceland—the former home of Elvis Presley—is a favorite among tourists. You can explore his old home and learn about his life and music.

Then there's Sun Studio, where the first rock 'n' roll single was supposedly recorded back in 1951. During its heyday, the studio hosted everyone from Johnny Cash and B.B. King to Howlin' Wolf and Elvis Presley.

The Memphis Rock 'n' Soul Museum is another great place to learn about the city's rich music history. Or you can go in a different direction, exploring the National Civil Rights Museum. It's located at the Lorraine Motel, where Martin Luther King was tragically shot and killed in 1968.

For something a little more kid-friendly, try the Memphis Zoo—lions, tigers and bears, oh my. Or take a stroll along the Mississippi River at the Mississippi Greenbelt Park. Overton Park is another great place for a walk or a picnic.

Music lovers will get a kick out of Memphis in May, a whole month of events that comes around every year. You'll be treated to tons of different types of music, week after week.

But Memphis is more than just music. They've also got a booming sports scene. There's the Memphis Grizzlies professional basketball team, University of Memphis Tigers basketball and football, and the Memphis Redbirds minor league baseball team.

And shopaholics can make their way over to Wolfchase Galleria, one of the city's best shopping centers.

Memphis, TN employment & economy

The biggest industries in Memphis include tourism, manufacturing, service, and agribusiness. With so much culture and history, people visit the city year round to get a glimpse.

The city also hosts the headquarters to several major companies, including Fedex, Autozone, International Paper, and Ducks Unlimited. These are also some of Memphis' biggest employers.

Memphis, TN Households

Total Number of Households255,756
Family 142,661

Non-family 113,095
Children 73,321

No Children 182,435

Average People Per Household2.49
Median Household Income$41,864
Median Housing Costs Per Month$913

According to U.S. Census data, there are 255,756 households in Memphis, TN. 142,661 are family households and 113,095 are non-family households. There are 73,321 households with children in Memphis and 182,435 households without children. On average, about 2.49 people live in a household in Memphis, TN. The median income of a Memphis household living in Memphis is $41,864 per year. The median housing costs per month are $913.

Education in Memphis, TN

If you're a student, the University of Memphis is definitely worth checking out. It offers programs in law, nursing, science, fine arts, and more.

There's also the Rhodes College, one of the top liberal arts colleges in the country. Or if you're looking for a shorter or cheaper degree, Southwest Tennessee Community College is worth a shot.

Memphis, TN Education Statistics

The level of education of the population of Memphis, TN is as follows: 4% have no high school education, 40% completed some high school, 26% partially completed college, 5% have an Associate Degree, 15% have a Bachelor Degree, and 9% have a Graduate Degree.

Tips for renting in Memphis, TN

If you're considering Memphis as a new place to live, it's helpful to know some of the renters’ rights you're entitled to as a tenant.

In the state of Tennessee, landlords can charge a late fee if your rent is 5 or more days late. The late fee must be less than 10% of your total rent and can't be assessed on a Sunday.

If you're served an eviction notice, you have 14 days to fix the problem and if you don't, you're given an additional 16 days to move out.

On the other hand, if your landlord fails to live up to their end of the lease, particularly when it comes to necessary repairs, tenants are able to withhold a portion of their rent.

Most Expensive Rental
Highland Row $1,397 - $6,701
Least Expensive Rental
860 N 7th Street Apartments $375 - $825

RentCafe is your one-stop shop for finding a great new apartment in Memphis, TN. Easily search through a wide selection of apartments for rent in Memphis, TN, and view detailed information about available rentals including floor plans, pricing, photos, amenities, interactive maps, and thorough property descriptions. Property owners and managers are one click away, so feel free to contact them and find out all you need to know about the apartment you’re interested in. Browse Memphis, TN apartments with rents starting from $599 and submit your rental application today!

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Apartments for Rent in Memphis, TN 1,545 Rentals Available

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