What is the average apartment size in Downtown Memphis, Memphis, TN?

The average size for a Downtown Memphis, Memphis, TN apartment is 818 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 Downtown Memphis?

As of Sep / 2025, the average rent in Downtown Memphis is $1,387 per month, a 0.69% increase from last year’s average of $1,378.

How much does rent cost by apartment size in Downtown Memphis?

In Downtown Memphis, studios rent for $1,090 per month, one-bedroom units average $1,303 per month, two-bedrooms cost around $1,640 per month, and three-bedroom apartments rent for about $1,527 per month

What is the average apartment size in Downtown Memphis?

The typical apartment in Downtown Memphis offers about 818 sq. ft. square feet of living space, though actual sizes vary depending on layout and amenities.

How large are apartments by bedroom count in Downtown Memphis?

Studio apartments in Downtown Memphis average 514 sq. ft., one-bedrooms offer 720 sq. ft., two-bedrooms are about 1,069 sq. ft., and three-bedroom apartments average 1,370 sq. ft.

Downtown Memphis, Memphis, TN Rental Market Trends

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

The typical rent budget in Downtown Memphis ranges from $1,001 to $1,500 per month, with 53% of rentals in this range.

Q: Do most people rent or own in Downtown Memphis?

In Downtown Memphis, 75% of households rent while 25% own their homes, based on the latest U.S. Census data.

Last updated: October 19, 2025 | Source: RentCafe Market Analysis, Yardi Matrix, U.S. Census Bureau

Highlights

The average rent for an apartment in Downtown Memphis is $1,387, a 0.69% increase compared to the previous year, when the average rent was $1,378.

Studio Apartments at $1,090 offer the most budget-friendly option with 514 square feet, ideal for single renters prioritizing location over space.

One-bedroom apartments provide 720 square feet for $1,303, balancing privacy and affordability.

Two-beedroom units at $1,640 offer 1,069 square feet, perfect for roommates or small families.

Three-bedroom apartments deliver maximum space (1,370 sq ft) for $1,527, suitable for larger households.

Average rent in Downtown Memphis, Memphis, TN

Last updated: October 19, 2025

	Average Rent	Average Apartment Size
All Rentals	$1,387	818 sq. ft.
Studio	$1,090	514 sq. ft.
1 Bed	$1,303	720 sq. ft.
2 Beds	$1,640	1,069 sq. ft.
3 Beds	$1,527	1,370 sq. ft.

Downtown Memphis, Memphis, TN rent trends

Rental prices in Downtown Memphis, Memphis, TN have increased by 0.69% over the past year. The average rent moved from $1,378 to $1,387.

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

The largest share of rentals in Downtown Memphis, Memphis, TN (53%) fall between $1,001-$1,500 per month. This suggests that most people succesfully find suitable apartments within this price.

Do most people rent or own in Downtown Memphis, Memphis, TN?

4,371 or 75% of the households in Downtown Memphis, Memphis, TN are renter-occupied while 1,471 or 25% are owner-occupied.

Access comprehensive real estate data and information on Yardi Matrix

Most affordable neighborhoods in Downtown Memphis?

University Area $719/month

Orange Mound $736/month

Oakhaven $770/month

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

Most expensive neighborhoods in Downtown Memphis?

Binghampton $1,530/month

Uptown Memphis $1,545/month

Mud Island $1,604/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	$1,604
Uptown Memphis	$1,545
Binghampton	$1,530
Central Gardens	$1,507
South Riverdale	$1,479
Chickasaw Gardens	$1,477
River Oaks	$1,426
Med District	$1,396
Windyke - Southwind	$1,388
Downtown Memphis	$1,387
Cordova	$1,339
Brennan	$1,326
Normal Station	$1,232
Lenox	$1,187
Midtown Memphis	$1,163
Bal - Moral	$1,158
Shelby Farms Park	$1,136
New Chicago	$1,122
Riverside	$1,102
Colonial	$1,043
Hickory Hill	$1,037
Southside Memphis	$1,005
Oakville	$1,002
Meadow Brook	$977
Galloway	$959
Berclair	$910
Fox Meadows	$906
Sherwood Forest	$904
Parkway Village	$903
O'brien	$901
Raleigh	$893
Chickasaw Oaks	$856
Whitehaven	$830
Alcy - Dunn	$819
Bethel Grove	$812
Frayser	$798
Oakhaven	$770
Orange Mound	$736
University Area	$719

Memphis | Rent Comparison by Neighborhood

Rent in Downtown Memphis is 69% higher than in Alcy - Dunn

$1,387

Downtown Memphis rent is the same as Memphis average

Average Rent $1,387

$819

Alcy - Dunn rent is 41% lower than Memphis average

Average Rent $819

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 Downtown 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.