What is the average apartment size in Memphis?

The average size for a Memphis, TN apartment is 920 square feet, but this number varies greatly depending on unit type, with cheap and luxury alternatives for houses and apartments alike. Studio apartments are the smallest and most affordable, 1-bedroom apartments are closer to the average, while 2-bedroom apartments and 3-bedroom apartments offer a more generous square footage.

What is the average rent in Memphis?

As of Jan / 2026, the average rent in Memphis is $1,134 per month, a 0.58% increase from last years average of $1,128.

How much does rent cost by apartment size in Memphis?

In Memphis, studios rent for $990 per month, one-bedroom units average $1,072 per month, two-bedrooms cost around $1,141 per month, and three-bedroom apartments rent for about $1,353 per month

What is the average apartment size in Memphis?

The typical apartment in Memphis offers about 920 sq. ft. square feet of living space, though actual sizes vary depending on layout and amenities.

How large are apartments by bedroom count in Memphis?

Studio apartments in Memphis average 504 sq. ft., one-bedrooms offer 725 sq. ft., two-bedrooms are about 998 sq. ft., and three-bedroom apartments average 1,324 sq. ft.

What are the most affordable neighborhoods in Memphis?

The most affordable neighborhoods in Memphis include University Area ($708/month), Orange Mound ($728/month), and Frayser ($760/month), all below the citywide average of $1,134.

What are the most expensive neighborhoods in Memphis?

The most expensive neighborhoods in Memphis are Mud Island ($1,535/month), Binghampton ($1,551/month), and Normal Station ($1,649/month), often due to premium locations and high-end amenities.

Memphis, TN Rental Market Trends

Q: What's the typical rent budget in Memphis?

The typical rent budget in Memphis ranges from to per month, with 45% of rentals in this range.

Q: Do most people rent or own in Memphis?

In Memphis, 54% of households rent while 46% own their homes, based on the latest U.S. Census data.

Last updated: February 19, 2026 | Source: RentCafe Market Analysis, Yardi Matrix, U.S. Census Bureau

Highlights

The average rent for an apartment in Memphis is $1,134, a 0.58% increase compared to the previous year, when the average rent was $1,128.

Studio Apartments at $990 offer the most budget-friendly option with 504 square feet, ideal for single renters prioritizing location over space.

One-bedroom apartments provide 725 square feet for $1,072, balancing privacy and affordability.

Two-beedroom units at $1,141 offer 998 square feet, perfect for roommates or small families.

Three-bedroom apartments deliver maximum space (1,324 sq ft) for $1,353, suitable for larger households.

Average rent in Memphis, TN

Last updated: February 19, 2026

	Average Rent	Average Apartment Size
All Rentals	$1,134	920 sq. ft.
Studio	$990	504 sq. ft.
1 Bed	$1,072	725 sq. ft.
2 Beds	$1,141	998 sq. ft.
3 Beds	$1,353	1,324 sq. ft.

Memphis, TN rent trends

Rental prices in Memphis, TN have increased by 0.58% over the past year. The average rent moved from $1,128 to $1,134.

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

The largest share of rentals in Memphis, TN (45%) fall between - per month. This suggests that most people succesfully find suitable apartments within this price.

Do most people rent or own in Memphis, TN?

137,469 or 54% of the households in Memphis, TN are renter-occupied while 117,061 or 46% are owner-occupied.

Most affordable neighborhoods in Memphis?

University Area $708/month

Orange Mound $728/month

Frayser $760/month

All of these neighborhoods fall below the city wide average of $1,134/month.

Most expensive neighborhoods in Memphis?

Mud Island $1,535/month

Binghampton $1,551/month

Normal Station $1,649/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	$1,649
Binghampton	$1,551
Mud Island	$1,535
Central Gardens	$1,515
South Riverdale	$1,503
Windyke - Southwind	$1,465
Chickasaw Gardens	$1,464
Med District	$1,424
Downtown Memphis	$1,405
River Oaks	$1,380
Brennan	$1,365
Uptown Memphis	$1,363
Cordova	$1,321
Lenox	$1,187
Midtown Memphis	$1,159
New Chicago	$1,157
Bal - Moral	$1,135
Riverside	$1,072
Shelby Farms Park	$1,045
Colonial	$1,035
Hickory Hill	$1,024
Galloway	$1,013
Southside Memphis	$978
Meadow Brook	$975
Sherwood Forest	$932
Fox Meadows	$929
Raleigh	$914
Oakville	$912
O'brien	$895
Berclair	$892
Parkway Village	$891
Chickasaw Oaks	$835
Whitehaven	$813
Oakhaven	$799
Alcy - Dunn	$780
Bethel Grove	$776
Frayser	$760
Orange Mound	$728
University Area	$708

Memphis | Rent Comparison by Neighborhood

Rent in Alcy - Dunn is 31% lower than in Bal - Moral

$780

Alcy - Dunn rent is 31% lower than Memphis average

Average Rent $780

$1,135

Bal - Moral rent is 1% higher than Memphis average

Average Rent $1,135

How Memphis Compares to Other Cities

City	Average Rent
Memphis	$1,134
Nashville	$1,825
Knoxville	$1,732
Clarksville	$1,275
Murfreesboro	$1,572
Chattanooga	$1,450
Antioch	$1,465
Gallatin	$1,559
La Vergne	$1,726
Madison	$1,425
Hendersonville	$1,563
Southaven, MS	$1,411
Bartlett	$1,553
Horn Lake, MS	$1,310
Olive Branch, MS	$1,527
Germantown, TN	$1,932
Lakeland, TN	$1,490
West Memphis, AR	$784
Marion, AR	$1,093
Millington, TN	$1,183

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 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.