Rental prices in University Area, Memphis, TN have decreased by 3.23% over the past year. The average rent moved from $746 to $722.
Check out the average rent in Memphis.
The national average price of rental apartments is $1,740, while the average monthly rent in University Area, Memphis, TN is $722.
The average monthly rent for an apartment in University Area, Memphis, TN is around $722.
The average rent in University Area, Memphis, TN is $1,073.
In University Area 54% of the housing is rented out compared to 46% of homes are owned, according to the most recent Census Bureau estimates. 4% of University Area's apartments are found in large buildings of 50 units or more, 45% are located in smaller apartment complexes with less than 50 units, and 49% are single-family rentals.
In total, University Area, Memphis, TN has 6,830 residents, 3,419 women and 3,412 men, per U.S. Census recent estimates. Statistics show that the median age of University Area’s population is 35.5.
There is a total of 2,792 households in University Area, Memphis, TN. Of these, 714 have children and 2,078 are without children. Per Census Bureau’s most current estimates, 1,398 family households and 1,394 non-family households live in this area. The size of a household in University Area is 2.33 people, on average. The median household annual income in University Area equals $36,257, and the monthly housing costs equal $1,000.
According to data from the U.S. Census Bureau, 7% of the population in University Area, Memphis, TN have no high school education, 38% went to high-school, and 27% have partially completed college. Moreover, 5% of the population hold an Associate Degree, 14% hold a Bachelor Degree, and 10% hold a Graduate Degree.
