Skip to content

Latest included observation:

Average Rent in Downtown Memphis & Rent Trends

What is the average rent in Downtown Memphis?

The average listed apartment rent in Downtown Memphis is $1,529 per month, as of November 8, 2026. This sample includes 52 priced apartments in 5 buildings. These are tracked asking prices, not signed leases.

We use published total monthly rent when known and base rent otherwise. Unknown fees remain unknown. Buildings without a qualifying price do not count in this sample. The guide directory can include more buildings.

Rent prices and market trends across 5 apartment communities in Downtown Memphis, Memphis, TN. Prices update after successful source checks.

Area All Areas Downtown Memphis Midtown New Pathways Springhill Whitehaven
Memphis 38112 38134
Beds All Bedrooms Studio 1 Bed 2 Bed 3 Bed 4 Bed

Showing any bedrooms in Downtown Memphis.

Market Average

$1,529/mo

▼ 6.7% from last month

Lowest Available

$856/mo

cheapest unit on market

Communities

5

tracked daily

Units Listed

52

available now

Rent Watch: cuts and increases

Open Rent Watch →

See current options while we confirm new price comparisons. Filter by bedrooms and budget, then inspect each building’s history.

Downtown Memphis vs Memphis, TN Average

Downtown Memphis is more expensive than the Memphis, TN average by $222/mo (17%). The citywide average is $1,307/mo across all neighborhoods.

Is Rent Going Up or Down in Downtown Memphis?

As of November 2026, the average rent in Downtown Memphis is $1,529 per month across 5 apartment communities and 52 available units. Rents have decreased $110 (6.7%) over the past month.

The most affordable option is Fielder Square starting at $856/mo. By unit type, a studio averages $1,074/mo, a 1-bedroom averages $1,332/mo, a 2-bedroom averages $1,738/mo, a 3-bedroom averages $2,622/mo.

Prices range from $856 to $2,992 per month. The most common price point is the $1,200 range, where 13 units are currently listed.

Downtown Memphis Rent Price History

Timeframe
View as table
Month Avg Rent Change Properties
July 2026 $1,561 - 5
August 2026 $1,442 -$119 5
September 2026 $1,450 +$8 5
October 2026 $1,479 +$29 5
November 2026 $1,503 +$24 5

The trend line and monthly averages track each building's average listed price, recorded daily with outliers trimmed. The current month is a month-to-date figure, so it can sit above or below today's live market average shown at the top of this page.

Average Rent by Bedroom

Rent Price Distribution

Rent by Bedroom Type in Downtown Memphis

Studio
$1,074
from $856 · 7 units
1 Bed
$1,332
from $950 · 24 units
2 Bed
$1,738
from $1,250 · 17 units
3 Bed
$2,622
from $2,499 · 4 units

Rent Prices by Apartment in Downtown Memphis

Property Starting at Average Units Rating
Fielder Square $856/mo $1,425/mo 31 4.3
Exchange Building Apartments $950/mo $1,050/mo 4 3.4
Downtown Memphis Flats $1,135/mo $1,854/mo 8 4.3
The Peabody Collection $1,310/mo $1,310/mo 1 4.9
Metro67 Apartments $1,397/mo $1,876/mo 8 4.7

Frequently Asked Questions About Rent in Downtown Memphis

How many bedrooms are you looking for?

How many bedrooms are you looking for?

Scroll or tap to choose.
Any bedrooms

What is the average rent in Downtown Memphis?
The average listed apartment rent in Downtown Memphis is $1,529 per month, as of November 8, 2026. This sample includes 52 priced apartments in 5 buildings. These are tracked asking prices, not signed leases.

What rent range can I find in Downtown Memphis?
The apartment listings we track in Downtown Memphis range from $856 to $2,992 per month, as of November 8, 2026. These are the lowest and highest listed prices. They are not a typical price for every apartment. The building, floor plan, and lease terms can affect the price.

Are rents going up or down in Downtown Memphis?
The daily building-average rent fell by $108 (6.7%) over 30 days between observations in October 2026 and November 2026. This compares recorded asking rents. The current month's figures may still be incomplete, and the building mix can change.

How much is a studio apartment in Downtown Memphis?
Studio apartments average $1,074 per month across 7 priced listings in Downtown Memphis. Listed rents range from $856 to $1,397 per month, as of November 8, 2026. Compare apartments with similar floor plans and lease terms.

How much is a 1-bedroom apartment in Downtown Memphis?
1-bedroom apartments average $1,332 per month across 24 priced listings in Downtown Memphis. Listed rents range from $950 to $2,083 per month, as of November 8, 2026. Compare apartments with similar floor plans and lease terms.

How much is a 2-bedroom apartment in Downtown Memphis?
2-bedroom apartments average $1,738 per month across 17 priced listings in Downtown Memphis. Listed rents range from $1,250 to $2,193 per month, as of November 8, 2026. Compare apartments with similar floor plans and lease terms.

How much is a 3-bedroom apartment in Downtown Memphis?
3-bedroom apartments average $2,622 per month across 4 priced listings in Downtown Memphis. Listed rents range from $2,499 to $2,992 per month, as of November 8, 2026. Compare apartments with similar floor plans and lease terms.

How do 1-bedroom and 2-bedroom rents compare in Downtown Memphis?
The 1-bedroom average is $1,332 per month across 24 listings. The 2-bedroom average is $1,738 across 17 listings, $406 (30.5%) higher. This is a comparison of listing groups, not the cost to upgrade a specific apartment.

Which tracked building has the lowest starting rent in Downtown Memphis?
Fielder Square has the lowest starting rent among the buildings in the comparison table, at $856 per month. We track 31 priced listings matching your bedroom choice in that building, as of November 8, 2026. The starting price applies to its lowest-priced matching apartment. Check that apartment's latest price and availability.

Which rent range has the most listings in Downtown Memphis?
The $1,200 to $1,400 monthly range has the most matching listings: 13 units, or 25.0% of the priced apartments we track in Downtown Memphis. This count does not tell us how fast the apartments rent.

How many apartment listings do you track in Downtown Memphis?
We track 52 priced units at 5 apartment buildings, as of November 8, 2026. This is not the total number of apartments in those buildings. A listing can change or become unavailable. Open the apartment details to check its latest status.

How much rent history is available for Downtown Memphis?
We have recorded rent data on 34 days from July 2026 through November 2026 for apartment listings in Downtown Memphis. Some dates can be missing. The chart only shows recorded data. The current month includes the days recorded so far.

Why can the headline rent differ from the trend chart in Downtown Memphis?
The average at the top of the page gives each matching apartment equal weight. The chart first averages recorded prices within each building, then compares buildings. It removes the highest and lowest groups when at least ten buildings contribute and omits days with fewer than five buildings. Different dates, building counts, and listing mixes can produce different figures. The monthly table averages the recorded daily figures.

Does my bedroom choice change the prices and answers?
Yes. Your chosen area and bedroom count filter the asking rents, listing counts, rent ranges, and answers on this page. The active community exclusions are Student housing and 55+ / senior community and Corporate housing and Military / active duty housing and Veteran housing. When you choose a bedroom count, the history chart uses recorded prices for matching apartments with a known identity. If those records are missing, we leave the chart empty rather than use prices for other bedroom types. Open an individual apartment to check its own price history.

Do these rents include utilities, parking, and other fees?
We use the published total monthly rent when it is available and the base rent otherwise. Unknown fees are not zero. Utilities, parking, pet charges, deposits, and one-time costs can add to the amount you pay. Check the selected unit and lease terms for a complete quote.

How should I compare free-rent offers with listed rent?
A free-rent offer can reduce the effective cost over a lease without changing the listed monthly rent. Compare the same lease length and move-in date, then include required charges and the offer conditions. The market averages do not assume an unconfirmed discount.

Does this page represent every rental in the market?
These figures describe the priced apartment listings we track, not every rental home or every occupied apartment. Coverage and the mix of bedrooms, buildings, and locations can change. A lower market average does not prove that the same apartment received a price cut.

How fresh are the Downtown Memphis rent figures?
We schedule rent updates each day, but buildings can have different price-check dates. The latest accepted price check for these listings was November 8, 2026. The month label does not mean we checked every price today. Open the building or apartment details for its latest price and availability.

What salary do I need to live comfortably in Downtown Memphis?

Built on the 25 to 30 percent rent-to-income guideline used by most landlords and credit-scoring models.

Minimum to afford average rent

$61,000/year

Based on the 30 percent rule, using our tracked average rent of $1,529/mo.

Comfortable income

$73,000/year

Based on the 25 percent rule, leaving more room for savings, transport, and groceries.

To afford the cheapest tracked apartment ($856/mo), you need to earn at least $34,000/year.

Median household income in Downtown Memphis is $51,211 , about 30% below the comfortable-living threshold.

Explore Downtown Memphis Apartments

Browse all 5 communities with daily-updated pricing and availability.

Browse All Apartments Find Your Match

Cost of living in Downtown Memphis

Overall prices in Downtown Memphis runs below the national average by about 8% (BEA Regional Price Parity index 91.9, where 100 equals the U.S. average). The breakdown below estimates monthly costs for a single adult, using national consumer-spending baselines from the Bureau of Labor Statistics scaled by Downtown Memphis's regional price parities.

Category Monthly estimate
Rent (market average) $1,529
Utilities $332
Groceries $509
Transportation $792
Healthcare $386
Other goods and services $618
Estimated total $4,168/mo

Population

629,063

Median household income

$51,211

Census median rent

$1,123/mo

Census rent burden

32.9%

Median age

34.3

Mean commute

21 min

Methodology

Rent data

We use listed asking rents and schedule daily data updates. Individual buildings can have different verification dates. Check the building or unit page for its latest price and availability.

Cost of living

Estimates combine national consumer-spending baselines from the U.S. Bureau of Labor Statistics (Consumer Expenditure Survey) with the U.S. Bureau of Economic Analysis Regional Price Parities (MARPP dataset). Both are peer-reviewed federal data releases published annually.

Salary to live comfortably

We estimate annual income by dividing annual rent by 30 percent for the affordability figure and 25 percent for the comfortable-income figure. These estimates are a guide, not a guarantee of rental approval.

Demographic figures

Median household income, population, median age, commute time, Census median rent, and rent as percentage of income come from the U.S. Census Bureau's American Community Survey 5-year estimates, the most recent complete release.

Cost of living and demographic figures were last published in 2023.
Tennessee Rent Trends
Compare rent across all Tennessee cities
Memphis, TN Neighborhood Rent Map
See rent history by neighborhood on a map
Explore Memphis, TN on Map
See neighborhoods and rent data interactively
US-wide rent comparison
See how Memphis, TN rents stack up against the national median

Looking for the best deal?

Find Your Match