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

The average size for a Downtown Memphis, Memphis, TN apartment is 809 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 / 2026, the average rent in Downtown Memphis is $1,425 per month, a 0.25% increase from last years average of $1,421.

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

In Downtown Memphis, studios rent for $1,053 per month, one-bedroom units average $1,325 per month, two-bedrooms cost around $1,759 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 809 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 512 sq. ft., one-bedrooms offer 718 sq. ft., two-bedrooms are about 1,078 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: October 30, 2026 | Source: RentCafe Market Analysis, Yardi Matrix, U.S. Census Bureau

Highlights

The average rent for an apartment in Downtown Memphis is $1,425, a 0.25% increase compared to the previous year, when the average rent was $1,421.

Studio Apartments at $1,053 offer the most budget-friendly option with 512 square feet, ideal for single renters prioritizing location over space.

One-bedroom apartments provide 718 square feet for $1,325, balancing privacy and affordability.

Two-bedroom units at $1,759 offer 1,078 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: October 30, 2026

	Average Rent	Average Apartment Size
All Rentals	$1,425	809 sq. ft.
Studio	$1,053	512 sq. ft.
1 Bed	$1,325	718 sq. ft.
2 Beds	$1,759	1,078 sq. ft.
3 Beds	$1,331	1,318 sq. ft.

Downtown Memphis, Memphis, TN rent trends

Rental prices in Downtown Memphis, Memphis, TN have increased by 0.25% over the past year. The average rent moved from $1,421 to $1,425.

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 $697/month

University Area $721/month

Frayser $766/month

All of these neighborhoods fall below the city wide average of $1,145/month.

Most expensive neighborhoods in Downtown Memphis?

Normal Station $1,500/month

Binghampton $1,603/month

Mud Island $1,660/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	$1,660
Binghampton	$1,603
Normal Station	$1,500
Chickasaw Gardens	$1,479
South Riverdale	$1,477
Med District	$1,465
Central Gardens	$1,453
Windyke - Southwind	$1,425
Downtown Memphis	$1,425
Brennan	$1,421
Uptown Memphis	$1,385
River Oaks	$1,354
Cordova	$1,330
Midtown Memphis	$1,198
Bal - Moral	$1,160
New Chicago	$1,123
Galloway	$1,110
Shelby Farms Park	$1,108
Hickory Hill	$1,033
Colonial	$986
Meadow Brook	$962
Southside Memphis	$961
Fox Meadows	$930
Parkway Village	$901
O'brien	$893
Raleigh	$877
Sherwood Forest	$870
Berclair	$867
Whitehaven	$828
Oakhaven	$792
Bethel Grove	$781
Chickasaw Oaks	$767
Frayser	$766
University Area	$721
Orange Mound	$697

Memphis | Rent Comparison by Neighborhood

Rent in Downtown Memphis is 23% higher than in Bal - Moral

$1,425

Downtown Memphis rent is the same as Memphis average

Average Rent $1,425

$1,160

Bal - Moral rent is 19% lower than Memphis average

Average Rent $1,160

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.