What is the average apartment size in Memphis?

The average size for a Memphis, TN apartment is 922 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 Jun / 2026, the average rent in Memphis is $1,146 per month, a 0.15% increase from last years average of $1,144.

How much does rent cost by apartment size in Memphis?

In Memphis, studios rent for $1,030 per month, one-bedroom units average $1,083 per month, two-bedrooms cost around $1,152 per month, and three-bedroom apartments rent for about $1,354 per month

What is the average apartment size in Memphis?

The typical apartment in Memphis offers about 922 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 508 sq. ft., one-bedrooms offer 726 sq. ft., two-bedrooms are about 1,001 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 Orange Mound ($694/month), University Area ($722/month), and Frayser ($765/month), all below the citywide average of $1,146.

What are the most expensive neighborhoods in Memphis?

The most expensive neighborhoods in Memphis are Binghampton ($1,531/month), Normal Station ($1,539/month), and Mud Island ($1,643/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 44% of rentals in this range.

Q: Do most people rent or own in Memphis?

In Memphis, 55% of households rent while 45% own their homes, based on the latest U.S. Census data.

Last updated: August 01, 2026 | Source: RentCafe Market Analysis, Yardi Matrix, U.S. Census Bureau

Highlights

The average rent for an apartment in Memphis is $1,146, a 0.15% increase compared to the previous year, when the average rent was $1,144.

Studio Apartments at $1,030 offer the most budget-friendly option with 508 square feet, ideal for single renters prioritizing location over space.

One-bedroom apartments provide 726 square feet for $1,083, balancing privacy and affordability.

Two-bedroom units at $1,152 offer 1,001 square feet, perfect for roommates or small families.

Three-bedroom apartments deliver maximum space (1,329 sq ft) for $1,354, suitable for larger households.

Average rent in Memphis, TN

Last updated: August 01, 2026

	Average Rent	Average Apartment Size
All Rentals	$1,146	922 sq. ft.
Studio	$1,030	508 sq. ft.
1 Bed	$1,083	726 sq. ft.
2 Beds	$1,152	1,001 sq. ft.
3 Beds	$1,354	1,329 sq. ft.

Memphis, TN rent trends

Rental prices in Memphis, TN have increased by 0.15% over the past year. The average rent moved from $1,144 to $1,146.

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

The largest share of rentals in Memphis, TN (44%) 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?

139,512 or 55% of the households in Memphis, TN are renter-occupied while 113,608 or 45% are owner-occupied.

Most affordable neighborhoods in Memphis?

Orange Mound $694/month

University Area $722/month

Frayser $765/month

All of these neighborhoods fall below the city wide average of $1,146/month.

Most expensive neighborhoods in Memphis?

Binghampton $1,531/month

Normal Station $1,539/month

Mud Island $1,643/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	$1,643
Normal Station	$1,539
Binghampton	$1,531
South Riverdale	$1,481
Central Gardens	$1,445
Med District	$1,444
Chickasaw Gardens	$1,436
Windyke - Southwind	$1,422
Brennan	$1,421
Downtown Memphis	$1,395
Uptown Memphis	$1,379
River Oaks	$1,371
Cordova	$1,328
Lenox	$1,249
Midtown Memphis	$1,211
Bal - Moral	$1,177
Shelby Farms Park	$1,118
Galloway	$1,091
New Chicago	$1,076
Hickory Hill	$1,031
Colonial	$982
Meadow Brook	$965
Southside Memphis	$962
Fox Meadows	$930
Parkway Village	$906
O'brien	$894
Raleigh	$889
Sherwood Forest	$870
Berclair	$858
Whitehaven	$829
Alcy - Dunn	$800
Oakhaven	$796
Bethel Grove	$781
Chickasaw Oaks	$767
Frayser	$765
University Area	$722
Orange Mound	$694

Memphis | Rent Comparison by Neighborhood

Rent in Alcy - Dunn is 32% lower than in Bal - Moral

$800

Alcy - Dunn rent is 30% lower than Memphis average

Average Rent $800

$1,177

Bal - Moral rent is 3% higher than Memphis average

Average Rent $1,177

How Memphis Compares to Other Cities

City	Average Rent
Memphis	$1,146
Nashville	$1,847
Knoxville	$1,777
Clarksville	$1,258
Chattanooga	$1,476
Murfreesboro	$1,585
Lebanon	$1,609
Antioch	$1,495
Johnson City	$1,440
Franklin	$2,136
Hendersonville	$1,576
Bartlett, TN	$1,648
Southaven, MS	$1,428
Germantown, TN	$1,920
Horn Lake, MS	$1,345
Millington, TN	$1,278
West Memphis, AR	$766

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.