What is the average apartment size in Memphis?

The average size for a Memphis, TN apartment is 918 square feet, but this number varies greatly depending on unit type, with cheap and luxury alternatives for houses and apartments alike. Studio apartments are the smallest and most affordable, 1-bedroom apartments are closer to the average, while 2-bedroom apartments and 3-bedroom apartments offer a more generous square footage.

What is the average rent in Memphis?

As of Oct / 2025, the average rent in Memphis is $1,135 per month, a 0.88% increase from last year’s average of $1,125.

How much does rent cost by apartment size in Memphis?

In Memphis, studios rent for $973 per month, one-bedroom units average $1,068 per month, two-bedrooms cost around $1,148 per month, and three-bedroom apartments rent for about $1,363 per month

What is the average apartment size in Memphis?

The typical apartment in Memphis offers about 918 sq. ft. square feet of living space, though actual sizes vary depending on layout and amenities.

How large are apartments by bedroom count in Memphis?

Studio apartments in Memphis average 504 sq. ft., one-bedrooms offer 723 sq. ft., two-bedrooms are about 999 sq. ft., and three-bedroom apartments average 1,324 sq. ft.

What are the most affordable neighborhoods in Memphis?

The most affordable neighborhoods in Memphis include University Area ($719/month), Orange Mound ($732/month), and Frayser ($766/month), all below the citywide average of $1,135.

What are the most expensive neighborhoods in Memphis?

The most expensive neighborhoods in Memphis are Binghampton ($1,514/month), Uptown Memphis ($1,570/month), and Mud Island ($1,603/month), often due to premium locations and high-end amenities.

Memphis, TN Rental Market Trends

Q: What's the typical rent budget in Memphis?

The typical rent budget in Memphis ranges from to per month, with 45% of rentals in this range.

Q: Do most people rent or own in Memphis?

In Memphis, 54% of households rent while 46% own their homes, based on the latest U.S. Census data.

Last updated: November 18, 2025 | Source: RentCafe Market Analysis, Yardi Matrix, U.S. Census Bureau

Highlights

The average rent for an apartment in Memphis is $1,135, a 0.88% increase compared to the previous year, when the average rent was $1,125.

Studio Apartments at $973 offer the most budget-friendly option with 504 square feet, ideal for single renters prioritizing location over space.

One-bedroom apartments provide 723 square feet for $1,068, balancing privacy and affordability.

Two-beedroom units at $1,148 offer 999 square feet, perfect for roommates or small families.

Three-bedroom apartments deliver maximum space (1,324 sq ft) for $1,363, suitable for larger households.

Average rent in Memphis, TN

Last updated: November 18, 2025

	Average Rent	Average Apartment Size
All Rentals	$1,135	918 sq. ft.
Studio	$973	504 sq. ft.
1 Bed	$1,068	723 sq. ft.
2 Beds	$1,148	999 sq. ft.
3 Beds	$1,363	1,324 sq. ft.

Memphis, TN rent trends

Rental prices in Memphis, TN have increased by 0.88% over the past year. The average rent moved from $1,125 to $1,135.

What's the typical rent budget in Memphis, TN?

The largest share of rentals in Memphis, TN (45%) fall between - per month. This suggests that most people succesfully find suitable apartments within this price.

Do most people rent or own in Memphis, TN?

137,469 or 54% of the households in Memphis, TN are renter-occupied while 117,061 or 46% are owner-occupied.

Access comprehensive real estate data and information on Yardi Matrix

Most affordable neighborhoods in Memphis?

University Area $719/month

Orange Mound $732/month

Frayser $766/month

All of these neighborhoods fall below the city wide average of $1,135/month.

Most expensive neighborhoods in Memphis?

Binghampton $1,514/month

Uptown Memphis $1,570/month

Mud Island $1,603/month

These neighborhoods typically command higher rents due to location, amenities, and demand.

Average Rent in Memphis, TN By Neighborhood

Neighborhood	Average Rent
Mud Island	$1,603
Uptown Memphis	$1,570
Binghampton	$1,514
Central Gardens	$1,510
South Riverdale	$1,494
Chickasaw Gardens	$1,471
Med District	$1,411
Windyke - Southwind	$1,409
Downtown Memphis	$1,395
Brennan	$1,385
River Oaks	$1,372
Cordova	$1,301
Lenox	$1,250
Normal Station	$1,213
New Chicago	$1,169
Midtown Memphis	$1,161
Bal - Moral	$1,154
Shelby Farms Park	$1,136
Colonial	$1,047
Hickory Hill	$1,033
Galloway	$1,029
Meadow Brook	$989
Southside Memphis	$986
Berclair	$939
Fox Meadows	$936
Raleigh	$915
O'brien	$908
Parkway Village	$906
Chickasaw Oaks	$848
Whitehaven	$818
Bethel Grove	$784
Oakhaven	$778
Frayser	$766
Orange Mound	$732
University Area	$719

Memphis | Rent Comparison by Neighborhood

Rent in Bal - Moral is 23% higher than in Berclair

$1,154

Bal - Moral rent is 2% higher than Memphis average

Average Rent $1,154

$939

Berclair rent is 17% lower than Memphis average

Average Rent $939

How Memphis Compares to Other Cities

City	Average Rent
Memphis	$1,135
Nashville	$1,830
Knoxville	$1,737
Chattanooga	$1,469
Clarksville	$1,260
Murfreesboro	$1,579
Antioch	$1,480
Madison	$1,432
Franklin	$2,045
Johnson City	$1,392
Lebanon	$1,569
Bartlett	$1,602
Southaven, MS	$1,419
Germantown, TN	$1,958
Horn Lake, MS	$1,329
Olive Branch, MS	$1,516
Lakeland, TN	$1,535
Marion, AR	$1,110
Millington, TN	$1,204
West Memphis, AR	$787

Where this data comes from

The rental statistics on this page were compiled by RentCafe.com, a nationwide apartment search website trusted by millions of renters to find apartments and houses for rent throughout the U.S.

Rent prices, trends, and apartment sizes were calculated based on data from our sister company, Yardi Matrix, an apartment market intelligence solution that covers approximately 90% of the U.S. metro area population. The data includes comprehensive information on all Memphis apartment buildings with 50 or more units, totaling 23.5 million apartments across 181 U.S. markets.

Housing composition data was sourced from the U.S. Census Bureau, using the most recently available information by tenure.