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Luxury Apartments for Rent in Downtown Memphis, Memphis, TN

422 Rentals Available
Luxury Apartments for Rent in Downtown Memphis, Memphis, TN. 422 Rentals Available
  • a living room with a couch and chairs and a table
    Today

    420 Monroe Avenue, Memphis, TN 38103
    STUDIO $1,208+
    1 BED $1,849+
    2 BEDS $2,275+
  • a living room with leather furniture and large windows
    Today

    One Dr. Martin Luther King Jr. Ave, Memphis, TN 38103
    STUDIO $1,240
    1 BED $1,725+
    2 BEDS $2,750+
  • a large living room with couches and chairs and a rug
    Today

    67 Madison Ave., Memphis, TN 38103
    STUDIO $1,312+
    1 BED $1,653+
    2 BEDS $2,263+
  • a living room with a kitchen and a couch and a table
    Today

    7 Vance Ave, Memphis, TN 38103
    STUDIO $1,420+
    1 BED $1,500+
    2 BEDS $2,615+
  • a living room with couches and chairs and a table
    Today

    70 S 4Th St., Memphis, TN 38103
    STUDIO $974+
    1 BED $1,021+
    2 BEDS $1,535+
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  • a living room with couches and a bed in a room with a large window
    Today

    110 Barboro Alley, Memphis, TN 38103
    STUDIO $969+
    1 BED $1,254+
  • a view of the kitchen from the living room
    Today

    125 Gayoso Ave, Memphis, TN 38103
    STUDIO $1,175+
    1 BED $1,445+
    2 BEDS $2,025
  • a bouquet of roses on a counter in a kitchen
    Today

    80 Virginia Avenue, West, Memphis, TN 38106
    STUDIO $952
    1 BED $1,507
    2 BEDS $1,650
  • a large building on the corner of a city street
    Today

    50 Peabody Place, Memphis, TN 38103
    STUDIO Ask for Pricing
    1 BED $1,290+
    2 BEDS $1,840+
  • a living room with couches and a rug
    Today

    130 S Front Street, Memphis, TN 38103
    STUDIO Ask for Pricing
    1 BED $1,210
    2 BEDS $1,660
  • a living room with two couches and a coffee table
    Today

    60 S Main Street, Memphis, TN 38103
    STUDIO Ask for Pricing
    1 BED $999+
    2 BEDS $1,299+
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  • a living room with two couches and a coffee table
    Today

    266 South Front Street, Memphis, TN 38103
    STUDIO Ask for Pricing
    1 BED $950+
    2 BEDS $1,650
  • a living room with two couches and a coffee table
    Today

    266 South Front Street, Memphis, TN 38103
    1 BED $1,150+
    2 BEDS Ask for Pricing

  • More Rentals Near Downtown Memphis, Memphis, TN

  • a living room with couches and chairs and a tv
    Today

    252 North Lauderdale, Memphis, TN 38105
    STUDIO $720
    1 BED $805
    2 BEDS $1,000
  • a kitchen with stainless steel appliances and wooden cabinets
    Today

    198 North Pauline Street, Memphis, TN 38105-4000
    Income Restricted
    1 BED $1,245
    2 BEDS $1,611+
  • a living room with a couch and a table
    Today

    300 Grand Island Dr, Memphis, TN 38103
    1 BED $1,588+
    2 BEDS $1,976+
    3 BEDS $2,381+
  • a living room with a couch and a coffee table and a bike
    Today

    205 Pasadena Place, Memphis, TN 38104
    1 BED $1,257+
    2 BEDS $1,819+
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  • a living room and kitchen with a couch and a table
    Today

    444 Island Drive, Memphis, TN 38103
    1 BED $1,720+
    2 BEDS $1,929+
    3 BEDS Ask for Pricing
  • a living room with a couch and a coffee table and a fireplace
    Today

    671 Harbor Town Edge Drive, Memphis, TN 38103
    1 BED $1,513+
    2 BEDS $1,453+
    3 BEDS $2,271+
  • a living room with white walls and a large flat screen tv on the wall
    Today

    1391 Court Avenue, Memphis, TN 38104
    STUDIO $936+
    1 BED $885+
  • a dining room and kitchen with a glass table and chairs
    Today

    172 Kimbrough Place, Memphis, TN 38104
    1 BED $775
    2 BEDS $1,450
    3 BEDS $2,300
  • a living room with a column in the middle and a dining room table and couch
    Today

    1350 Concourse Avenue, Suite 750, Memphis, TN 38104
    STUDIO $1,524+
    1 BED $1,939+
    2 BEDS $2,178+
  • a living room with a couch and tv and a coffee table
    Today

    45 South Idlewild Street, Memphis, TN 38104
    STUDIO $1,030
    1 BED $1,199
    2 BEDS $1,499
  • a living room with blue furniture and a checkered floor
    Today

    1835 Union Ave, Memphis, TN 38104
    STUDIO $1,524
    1 BED $1,690
    2 BEDS $2,226
  • a living room with a couch and a coffee table and a ceiling fan
    Today

    100 Riverset Lane, Memphis, TN 38103
    1 BED $1,070+
    2 BEDS $1,290+
13-12-nhood
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Downtown Memphis, Memphis, TN rent trends

Rental prices in Downtown Memphis, Memphis, TN have increased by 1.75% over the past year. The average rent moved from $1,381 to $1,405.

Check out the average rent in Memphis.

The national average price of rental apartments is $1,741, while the average monthly rent in Downtown Memphis, Memphis, TN is $1,405.

Average rent in Downtown Memphis, Memphis, TN

$1,405/mo Downtown Memphis, Memphis, TN average rental price, January 2026
Image Average Rent

The average monthly rent for an apartment in Downtown Memphis, Memphis, TN is around $1,405.

    What's the typical rent budget in Downtown Memphis, Memphis, TN?

    A share of 19% of apartments in Downtown Memphis, Memphis, TN have the cheapest rents between ≤ $1000. Around 5% of rentals are $2,001-$2,500. Around 52% of Downtown Memphis's apartments have monthly rents between $1,001-$1,500. There are 21% of apartments with rents between $1,501-$2,000. A share of 1% of apartment rentals in Memphis are in the $2,501-$3,000 range. Meanwhile, 2% of apartment rentals in Memphis are in the > $3,000 range.

    The largest share of rentals in Downtown Memphis, Memphis, TN (52%) fall between $1,001-$1,500 per month. This suggests that most people succesfully find suitable apartments within this price.

    Getting around in Downtown Memphis, TN

    78 /100
    Very Walkable
    46 /100
    Some Transit
    81 /100
    Very Bikeable
    Walk Score®: 78, Transit Score®: 46, Bike Score®: 81

    Frequently asked questions

    What is the price of a luxury apartment in Downtown Memphis, Memphis, TN?

    The price range for a luxury apartment in Downtown Memphis, Memphis, TN is between $950 and $7,148.

    How many luxury rentals are available in Downtown Memphis, Memphis, TN on RentCafe?

    There are 73 luxury rentals available on RentCafe. Prices and availability in Downtown Memphis, Memphis, TN were last updated on 25 Feb 2026.

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

    The average Downtown Memphis, Memphis, TN luxury apartment size is 913 sq. ft.

    What are the advantages of renting a luxury apartment in Downtown Memphis, Memphis, TN?

    Renting a luxury apartment in Downtown Memphis, Memphis, TN comes with many amenities, more space and central locations.

    What are the downsides of renting a luxury apartment in Downtown Memphis, Memphis, TN?

    Luxury apartments tend to be more expensive and have higher utility bills.

    Downtown Memphis, Memphis, TN demographics

    • 10,703Total Population
    • 4,976 Female
      5,727 Male
    • 33Median Age

    In total, Downtown Memphis, Memphis, TN has 10,703 residents, 4,976 women and 5,727 men, per U.S. Census recent estimates. Statistics show that the median age of Downtown Memphis’s population is 33.

    Downtown Memphis, Memphis, TN households

    • 1,888 Family
      3,954 Non-family
    • 934 Children
      4,908 No Children
    • 5,842Total Number of Households
    • 1.17Average People Per Household
    • $30,825Median Household Income

    There is a total of 5,842 households in Downtown Memphis, Memphis, TN. Of these, 934 have children and 4,908 are without children. Per Census Bureau’s most current estimates, 1,888 family households and 3,954 non-family households live in this area. The size of a household in Downtown Memphis is 1.17 people, on average. The median household annual income in Downtown Memphis equals $30,825, and the monthly housing costs equal $918.

    Downtown Memphis, Memphis, TN education statistics

    According to data from the U.S. Census Bureau, 1% of the population in Downtown Memphis, Memphis, TN have no high school education, 31% went to high-school, and 18% have partially completed college. Moreover, 3% of the population hold an Associate Degree, 26% hold a Bachelor Degree, and 20% hold a Graduate Degree.

    Renting a luxury apartment in Downtown Memphis, Memphis, TN

    If you love living like a king or a queen, you might be interested in uniquely furnished, modern apartments. Nothing says elegance like a professionally-designed interior down to the smallest detail. Now you have the best 422 apartments in Downtown Memphis, Memphis, TN to choose from, located in 25 upscale buildings. The average size of this type of apartment in Downtown Memphis, Memphis, TN is around 983 Sqft, but if you’re in need of more space, apartment complexes also have large apartments for rent. Luxury townhomes are also a great option for families, especially those located in family-friendly communities, close to schools, preschools and parks. The best apartments on the market in Downtown Memphis, Memphis, TN are up for grabs right now, so don’t miss the chance to level up your lifestyle!

    High rise apartments do come cheap

    We can all agree that high-level amenities give us a sense of accomplishment and a certain feeling of comfort. Well, on the bright side, luxury is now accessible to both multi-millionaires and people with regular incomes. Cheap luxury apartments are not just an illusion - the land of milk and honey is closer than it’s ever been, with prices starting at $720. There are no less than 422 luxury studio apartments in Downtown Memphis, Memphis, TN right now waiting to become your future home.

    Finding a home nearby is easier than you think. Check out our Apartments Near Me page and take your pick!