Midtown Memphis, Memphis, TN Rental Market Trends
Last updated: April 23, 2026 | Source: RentCafe Market Analysis, Yardi Matrix, U.S. Census Bureau
Highlights
The average rent for an apartment in Midtown Memphis is $1,147, a 2.2% decrease compared to the previous year, when the average rent was $1,173.
One-bedroom apartments provide 650 square feet for $1,090, balancing privacy and affordability.
Two-beedroom units at $1,481 offer 955 square feet, perfect for roommates or small families.
Average rent in Midtown Memphis, Memphis, TN
Last updated: April 23, 2026
| Average Rent | Average Apartment Size | |
|---|---|---|
| All Rentals | $1,147 | 694 sq. ft. |
| Studio | n/a | n/a |
| 1 Bed | $1,090 | 650 sq. ft. |
| 2 Beds | $1,481 | 955 sq. ft. |
| 3 Beds | n/a | n/a |
Midtown Memphis, Memphis, TN rent trends
Rental prices in Midtown Memphis, Memphis, TN have decreased by 2.2% over the past year. The average rent moved from $1,173 to $1,147.
What's the typical rent budget in Midtown Memphis, Memphis, TN?
The largest share of rentals in Midtown Memphis, Memphis, TN (50%) 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?
2,026 or 58% of the households in Midtown Memphis, Memphis, TN are renter-occupied while 1,480 or 42% are owner-occupied.
Most affordable neighborhoods in Midtown Memphis?
University Area $716/month
Orange Mound $757/month
Chickasaw Oaks $760/month
All of these neighborhoods fall below the city wide average of $1,137/month.Most expensive neighborhoods in Midtown Memphis?
Binghampton $1,530/month
Mud Island $1,537/month
Normal Station $1,659/month
These neighborhoods typically command higher rents due to location, amenities, and demand.Average Rent in Memphis, TN By Neighborhood
| Neighborhood | Average Rent |
|---|---|
| Normal Station | $1,659 |
| Mud Island | $1,537 |
| Binghampton | $1,530 |
| South Riverdale | $1,494 |
| Chickasaw Gardens | $1,471 |
| Central Gardens | $1,460 |
| Med District | $1,440 |
| Windyke - Southwind | $1,435 |
| Downtown Memphis | $1,415 |
| River Oaks | $1,399 |
| Brennan | $1,396 |
| Uptown Memphis | $1,377 |
| Cordova | $1,320 |
| Bal - Moral | $1,149 |
| Midtown Memphis | $1,147 |
| New Chicago | $1,111 |
| Shelby Farms Park | $1,077 |
| Galloway | $1,054 |
| Hickory Hill | $1,018 |
| Colonial | $1,004 |
| Meadow Brook | $942 |
| Fox Meadows | $937 |
| O'brien | $934 |
| Southside Memphis | $926 |
| Parkway Village | $896 |
| Raleigh | $890 |
| Berclair | $880 |
| Bethel Grove | $842 |
| Whitehaven | $824 |
| Oakhaven | $799 |
| Frayser | $761 |
| Chickasaw Oaks | $760 |
| Orange Mound | $757 |
| University Area | $716 |
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Memphis | Rent Comparison by Neighborhood
Rent in Midtown Memphis is 1% lower than in Bal - Moral
$1,147
Midtown Memphis rent is the same as Memphis average
Average Rent
$1,147
$1,149
Bal - Moral rent is 1% higher than Memphis average
Average Rent
$1,149
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.