What is the average apartment size in Memphis?

The average size for a Memphis, TN apartment is 923 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 Mar / 2026, the average rent in Memphis is $1,137 per month, a 0.38% decrease from last years average of $1,141.

How much does rent cost by apartment size in Memphis?

In Memphis, studios rent for $991 per month, one-bedroom units average $1,068 per month, two-bedrooms cost around $1,146 per month, and three-bedroom apartments rent for about $1,355 per month

What is the average apartment size in Memphis?

The typical apartment in Memphis offers about 923 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 726 sq. ft., two-bedrooms are about 1,002 sq. ft., and three-bedroom apartments average 1,329 sq. ft.

What are the most affordable neighborhoods in Memphis?

The most affordable neighborhoods in Memphis include University Area ($716/month), Orange Mound ($757/month), and Chickasaw Oaks ($760/month), all below the citywide average of $1,137.

What are the most expensive neighborhoods in Memphis?

The most expensive neighborhoods in Memphis are Binghampton ($1,530/month), Mud Island ($1,537/month), and Normal Station ($1,659/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: April 22, 2026 | Source: RentCafe Market Analysis, Yardi Matrix, U.S. Census Bureau

Highlights

The average rent for an apartment in Memphis is $1,137, a 0.38% decrease compared to the previous year, when the average rent was $1,141.

Studio Apartments at $991 offer the most budget-friendly option with 504 square feet, ideal for single renters prioritizing location over space.

One-bedroom apartments provide 726 square feet for $1,068, balancing privacy and affordability.

Two-beedroom units at $1,146 offer 1,002 square feet, perfect for roommates or small families.

Three-bedroom apartments deliver maximum space (1,329 sq ft) for $1,355, suitable for larger households.

Average rent in Memphis, TN

Last updated: April 22, 2026

	Average Rent	Average Apartment Size
All Rentals	$1,137	923 sq. ft.
Studio	$991	504 sq. ft.
1 Bed	$1,068	726 sq. ft.
2 Beds	$1,146	1,002 sq. ft.
3 Beds	$1,355	1,329 sq. ft.

Memphis, TN rent trends

Rental prices in Memphis, TN have decreased by 0.38% over the past year. The average rent moved from $1,141 to $1,137.

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.

Most affordable neighborhoods in Memphis?

University Area $716/month

Orange Mound $757/month

Chickasaw Oaks $760/month

All of these neighborhoods fall below the city wide average of $1,137/month.

Most expensive neighborhoods in Memphis?

Binghampton $1,530/month

Mud Island $1,537/month

Normal Station $1,659/month

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

Average Rent in Memphis, TN By Neighborhood

Neighborhood	Average Rent
Normal Station	$1,659
Mud Island	$1,537
Binghampton	$1,530
South Riverdale	$1,494
Chickasaw Gardens	$1,471
Central Gardens	$1,460
Med District	$1,440
Windyke - Southwind	$1,435
Downtown Memphis	$1,415
River Oaks	$1,399
Brennan	$1,396
Uptown Memphis	$1,377
Cordova	$1,320
Bal - Moral	$1,149
Midtown Memphis	$1,147
New Chicago	$1,111
Shelby Farms Park	$1,077
Galloway	$1,054
Hickory Hill	$1,018
Colonial	$1,004
Meadow Brook	$942
Fox Meadows	$937
O'brien	$934
Southside Memphis	$926
Parkway Village	$896
Raleigh	$890
Berclair	$880
Bethel Grove	$842
Whitehaven	$824
Oakhaven	$799
Frayser	$761
Chickasaw Oaks	$760
Orange Mound	$757
University Area	$716

Memphis | Rent Comparison by Neighborhood

Rent in Bal - Moral is 31% higher than in Berclair

$1,149

Bal - Moral rent is 1% higher than Memphis average

Average Rent $1,149

$880

Berclair rent is 23% lower than Memphis average

Average Rent $880

How Memphis Compares to Other Cities

City	Average Rent
Memphis	$1,137
Nashville	$1,803
Knoxville	$1,745
Clarksville	$1,268
Chattanooga	$1,450
Murfreesboro	$1,568
Antioch	$1,474
Franklin	$2,062
Johnson City	$1,418
Lebanon	$1,570
Spring Hill	$1,575
Southaven, MS	$1,374
Bartlett	$1,622
Olive Branch, MS	$1,540
Germantown, TN	$1,890
Horn Lake, MS	$1,332
Marion, AR	$1,131
Millington, TN	$1,194
West Memphis, AR	$763
Lakeland, TN	$1,518

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.