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

The average size for a Downtown Memphis, Memphis, TN apartment is 808 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 Aug / 2026, the average rent in Downtown Memphis is $1,417 per month, a 0.44% decrease from last years average of $1,423.

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

In Downtown Memphis, studios rent for $1,067 per month, one-bedroom units average $1,315 per month, two-bedrooms cost around $1,752 per month, and three-bedroom apartments rent for about $1,331 per month

What is the average apartment size in Downtown Memphis?

The typical apartment in Downtown Memphis offers about 808 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 511 sq. ft., one-bedrooms offer 715 sq. ft., two-bedrooms are about 1,079 sq. ft., and three-bedroom apartments average 1,318 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 46% 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: September 30, 2026 | Source: RentCafe Market Analysis, Yardi Matrix, U.S. Census Bureau

Highlights

The average rent for an apartment in Downtown Memphis is $1,417, a 0.44% decrease compared to the previous year, when the average rent was $1,423.

Studio Apartments at $1,067 offer the most budget-friendly option with 511 square feet, ideal for single renters prioritizing location over space.

One-bedroom apartments provide 715 square feet for $1,315, balancing privacy and affordability.

Two-bedroom units at $1,752 offer 1,079 square feet, perfect for roommates or small families.

Three-bedroom apartments deliver maximum space (1,318 sq ft) for $1,331, suitable for larger households.

Average rent in Downtown Memphis, Memphis, TN

Last updated: September 30, 2026

	Average Rent	Average Apartment Size
All Rentals	$1,417	808 sq. ft.
Studio	$1,067	511 sq. ft.
1 Bed	$1,315	715 sq. ft.
2 Beds	$1,752	1,079 sq. ft.
3 Beds	$1,331	1,318 sq. ft.

Downtown Memphis, Memphis, TN rent trends

Rental prices in Downtown Memphis, Memphis, TN have decreased by 0.44% over the past year. The average rent moved from $1,423 to $1,417.

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

The largest share of rentals in Downtown Memphis, Memphis, TN (46%) 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?

4,598 or 75% of the households in Downtown Memphis, Memphis, TN are renter-occupied while 1,520 or 25% are owner-occupied.

Most affordable neighborhoods in Downtown Memphis?

Orange Mound $699/month

University Area $724/month

Frayser $768/month

All of these neighborhoods fall below the city wide average of $1,141/month.

Most expensive neighborhoods in Downtown Memphis?

Normal Station $1,494/month

Binghampton $1,572/month

Mud Island $1,674/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	$1,674
Binghampton	$1,572
Normal Station	$1,494
Chickasaw Gardens	$1,475
South Riverdale	$1,464
Med District	$1,452
Central Gardens	$1,444
Brennan	$1,426
Downtown Memphis	$1,417
Windyke - Southwind	$1,404
Uptown Memphis	$1,378
River Oaks	$1,364
Cordova	$1,317
Midtown Memphis	$1,196
Bal - Moral	$1,166
Galloway	$1,132
New Chicago	$1,128
Shelby Farms Park	$1,118
Hickory Hill	$1,025
Colonial	$988
Meadow Brook	$963
Southside Memphis	$962
Fox Meadows	$933
Parkway Village	$904
Berclair	$902
O'brien	$897
Raleigh	$878
Sherwood Forest	$873
Whitehaven	$831
Oakhaven	$804
Bethel Grove	$785
Chickasaw Oaks	$770
Frayser	$768
University Area	$724
Orange Mound	$699

Memphis | Rent Comparison by Neighborhood

Rent in Downtown Memphis is 22% higher than in Bal - Moral

$1,417

Downtown Memphis rent is the same as Memphis average

Average Rent $1,417

$1,166

Bal - Moral rent is 18% lower than Memphis average

Average Rent $1,166

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.