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Average Rent in Memphis, TN & Rent Trends

What is the average rent in Memphis, TN?

The average listed apartment rent in Memphis, TN is $1,308 per month, as of November 6, 2026. This sample includes 196 priced apartments in 24 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. Included building observations run from November 3, 2026 through November 6, 2026. Buildings without a qualifying price do not count in this sample. The guide directory can include more buildings.

Rent prices and market trends across 24 apartment communities in 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 Memphis, TN.

Market Average

$1,308/mo

▼ 10.8% from last month

Lowest Available

$570/mo

cheapest unit on market

Communities

24

tracked daily

Units Listed

196

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.

Rent by Neighborhood in Memphis, TN

Compare average rent across Memphis, TN neighborhoods. Click any area to see detailed trends. View these neighborhoods on the rent map

Neighborhood Avg Rent 30d Change From Properties Units
Downtown Memphis $1,537 ▲  $91 $856 5 49
Midtown $1,411 ▼  $318 $798 12 72
Memphis 38134 $1,196 ▼  $91 $960 1 17
New Pathways $1,142 $0 $959 1 3
Springhill $1,125 ▼  $26 $799 1 27
Memphis 38112 $989 $0 $785 3 16
Whitehaven $795 ▲  $21 $570 1 12

Is Rent Going Up or Down in Memphis, TN?

As of November 2026, the average rent in Memphis, TN is $1,308 per month across 24 apartment communities and 196 available units. Rents have decreased $158 (10.8%) over the past month.

The most affordable option is Summit Park Apartment Complex starting at $570/mo. By unit type, a studio averages $974/mo, a 1-bedroom averages $1,219/mo, a 2-bedroom averages $1,362/mo, a 3-bedroom averages $2,026/mo, a 4-bedroom averages $1,150/mo.

Prices range from $570 to $2,974 per month. The most common price point is the $1,200 range, where 44 units are currently listed.

Memphis, TN Rent Price History

Timeframe
View as table
Month Avg Rent Change Properties
May 2026 $1,425 - 7
June 2026 $1,555 +$130 10
July 2026 $1,500 -$55 12
August 2026 $1,458 -$42 12
September 2026 $1,436 -$22 12
October 2026 $1,236 -$200 25
November 2026 $1,225 -$11 19

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 Memphis, TN

Studio
$974
from $849 · 13 units
1 Bed
$1,219
from $570 · 94 units
2 Bed
$1,362
from $670 · 74 units
3 Bed
$2,026
from $900 · 13 units
4 Bed
$1,150
from $1,150 · 1 units

Rent Prices by Apartment in Memphis, TN

Property Starting at Average Units Rating
Summit Park Apartment Complex $570/mo $795/mo 12 4.4
Stratford Place | Midtown Place Apartments $785/mo $959/mo 13 4.3
Azur Tower Apartments $798/mo $936/mo 8 2.8
Covington Hills $799/mo $1,125/mo 27 3.1
The Courtyard @ 1460 Monroe $799/mo $799/mo 1 3
The Courtyard @ Monroe Flats $799/mo $799/mo 1 4
Park Terrace $849/mo $849/mo 2 2.2

Frequently Asked Questions About Rent in Memphis, TN

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 Memphis, TN?
The average listed apartment rent in Memphis, TN is $1,308 per month, as of November 6, 2026. This sample includes 196 priced apartments in 24 buildings. These are tracked asking prices, not signed leases.

What rent range can I find in Memphis, TN?
The apartment listings we track in Memphis, TN range from $570 to $2,974 per month, as of November 6, 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 Memphis, TN?
The daily building-average rent fell by $112 (7.9%) 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 Memphis, TN?
Studio apartments average $974 per month across 13 priced listings in Memphis, TN. Listed rents range from $849 to $1,254 per month, as of November 6, 2026. Compare apartments with similar floor plans and lease terms.

How much is a 1-bedroom apartment in Memphis, TN?
1-bedroom apartments average $1,219 per month across 94 priced listings in Memphis, TN. Listed rents range from $570 to $2,069 per month, as of November 6, 2026. Compare apartments with similar floor plans and lease terms.

How much is a 2-bedroom apartment in Memphis, TN?
2-bedroom apartments average $1,362 per month across 74 priced listings in Memphis, TN. Listed rents range from $670 to $2,193 per month, as of November 6, 2026. Compare apartments with similar floor plans and lease terms.

How much is a 3-bedroom apartment in Memphis, TN?
3-bedroom apartments average $2,026 per month across 13 priced listings in Memphis, TN. Listed rents range from $900 to $2,974 per month, as of November 6, 2026. Compare apartments with similar floor plans and lease terms.

How much is a 4-bedroom apartment in Memphis, TN?
4-bedroom apartments average $1,150 per month across 1 priced listing in Memphis, TN. Listed rents range from $1,150 to $1,150 per month, as of November 6, 2026. Compare apartments with similar floor plans and lease terms.

How do 1-bedroom and 2-bedroom rents compare in Memphis, TN?
The 1-bedroom average is $1,219 per month across 94 listings. The 2-bedroom average is $1,362 across 74 listings, $143 (11.7%) 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 Memphis, TN?
Summit Park Apartment Complex has the lowest starting rent among the buildings in the comparison table, at $570 per month. We track 12 priced listings matching your bedroom choice in that building, as of November 6, 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 Memphis, TN?
The $1,200 to $1,400 monthly range has the most matching listings: 44 units, or 22.4% of the priced apartments we track in Memphis, TN. This count does not tell us how fast the apartments rent.

How many apartment listings do you track in Memphis, TN?
We track 196 priced units at 24 apartment buildings, as of November 6, 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 Memphis, TN?
We have recorded rent data on 154 days from May 2026 through November 2026 for apartment listings in Memphis, TN. 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 Memphis, TN?
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 Memphis, TN 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 6, 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 Memphis, TN?

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

Minimum to afford average rent

$52,000/year

Based on the 30 percent rule, using our tracked average rent of $1,308/mo.

Comfortable income

$63,000/year

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

To afford the cheapest tracked apartment ($570/mo), you need to earn at least $23,000/year.

Median household income in Memphis, TN is $51,211 , about 18% below the comfortable-living threshold.

Explore Memphis, TN Apartments

Browse all 24 communities with daily-updated pricing and availability.

Browse All Apartments Find Your Match

Cost of living in Memphis, TN

Overall prices in Memphis, TN 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 Memphis, TN's regional price parities.

Category Monthly estimate
Rent (market average) $1,308
Utilities $332
Groceries $509
Transportation $792
Healthcare $386
Other goods and services $618
Estimated total $3,947/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

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