Midtown Memphis, Memphis, TN Rental Market Trends
Last updated: August 01, 2026 | Source: RentCafe Market Analysis, Yardi Matrix, U.S. Census Bureau
Highlights
The average rent for an apartment in Midtown Memphis is $1,211, a 1.87% increase compared to the previous year, when the average rent was $1,189.
Studio Apartments at $1,141 offer the most budget-friendly option with 503 square feet, ideal for single renters prioritizing location over space.
One-bedroom apartments provide 657 square feet for $1,156, balancing privacy and affordability.
Two-bedroom units at $1,500 offer 964 square feet, perfect for roommates or small families.
Average rent in Midtown Memphis, Memphis, TN
Last updated: August 01, 2026
| Average Rent | Average Apartment Size | |
|---|---|---|
| All Rentals | $1,211 | 698 sq. ft. |
| Studio | $1,141 | 503 sq. ft. |
| 1 Bed | $1,156 | 657 sq. ft. |
| 2 Beds | $1,500 | 964 sq. ft. |
| 3 Beds | n/a | n/a |
Midtown Memphis, Memphis, TN rent trends
Rental prices in Midtown Memphis, Memphis, TN have increased by 1.87% over the past year. The average rent moved from $1,189 to $1,211.
What's the typical rent budget in Midtown Memphis, Memphis, TN?
The largest share of rentals in Midtown Memphis, Memphis, TN (47%) 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 Midtown Memphis, Memphis, TN?
2,056 or 59% of the households in Midtown Memphis, Memphis, TN are renter-occupied while 1,426 or 41% are owner-occupied.
Most affordable neighborhoods in Midtown 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 Midtown 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 |
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Memphis | Rent Comparison by Neighborhood
Rent in Midtown Memphis is 51% higher than in Alcy - Dunn
$1,211
Midtown Memphis rent is the same as Memphis average
Average Rent
$1,211
$800
Alcy - Dunn rent is 34% lower than Memphis average
Average Rent
$800
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 Midtown 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.