What is the average apartment size in Memphis?

The average size for a Memphis, TN apartment is 923 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 Apr / 2026, the average rent in Memphis is $1,143 per month, a 0.14% increase from last years average of $1,142.

How much does rent cost by apartment size in Memphis?

In Memphis, studios rent for $981 per month, one-bedroom units average $1,076 per month, two-bedrooms cost around $1,153 per month, and three-bedroom apartments rent for about $1,361 per month

What is the average apartment size in Memphis?

The typical apartment in Memphis offers about 923 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 726 sq. ft., two-bedrooms are about 1,002 sq. ft., and three-bedroom apartments average 1,329 sq. ft.

What are the most affordable neighborhoods in Memphis?

The most affordable neighborhoods in Memphis include Orange Mound ($753/month), Chickasaw Oaks ($763/month), and Frayser ($765/month), all below the citywide average of $1,143.

What are the most expensive neighborhoods in Memphis?

The most expensive neighborhoods in Memphis are Binghampton ($1,537/month), Mud Island ($1,544/month), and Normal Station ($1,665/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 44% of rentals in this range.

Q: Do most people rent or own in Memphis?

In Memphis, 55% of households rent while 45% own their homes, based on the latest U.S. Census data.

Last updated: May 15, 2026 | Source: RentCafe Market Analysis, Yardi Matrix, U.S. Census Bureau

Highlights

The average rent for an apartment in Memphis is $1,143, a 0.14% increase compared to the previous year, when the average rent was $1,142.

Studio Apartments at $981 offer the most budget-friendly option with 504 square feet, ideal for single renters prioritizing location over space.

One-bedroom apartments provide 726 square feet for $1,076, balancing privacy and affordability.

Two-beedroom units at $1,153 offer 1,002 square feet, perfect for roommates or small families.

Three-bedroom apartments deliver maximum space (1,329 sq ft) for $1,361, suitable for larger households.

Average rent in Memphis, TN

Last updated: May 15, 2026

	Average Rent	Average Apartment Size
All Rentals	$1,143	923 sq. ft.
Studio	$981	504 sq. ft.
1 Bed	$1,076	726 sq. ft.
2 Beds	$1,153	1,002 sq. ft.
3 Beds	$1,361	1,329 sq. ft.

Memphis, TN rent trends

Rental prices in Memphis, TN have increased by 0.14% over the past year. The average rent moved from $1,142 to $1,143.

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

The largest share of rentals in Memphis, TN (44%) 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?

139,512 or 55% of the households in Memphis, TN are renter-occupied while 113,608 or 45% are owner-occupied.

Most affordable neighborhoods in Memphis?

Orange Mound $753/month

Chickasaw Oaks $763/month

Frayser $765/month

All of these neighborhoods fall below the city wide average of $1,143/month.

Most expensive neighborhoods in Memphis?

Binghampton $1,537/month

Mud Island $1,544/month

Normal Station $1,665/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	$1,665
Mud Island	$1,544
Binghampton	$1,537
South Riverdale	$1,504
Central Gardens	$1,466
Windyke - Southwind	$1,458
Med District	$1,442
River Oaks	$1,440
Downtown Memphis	$1,411
Uptown Memphis	$1,389
Cordova	$1,334
Bal - Moral	$1,158
Midtown Memphis	$1,150
New Chicago	$1,116
Shelby Farms Park	$1,088
Galloway	$1,057
Hickory Hill	$1,019
Colonial	$1,007
Meadow Brook	$952
Oakville	$941
Fox Meadows	$941
O'brien	$938
Southside Memphis	$929
Sherwood Forest	$921
Parkway Village	$914
Raleigh	$885
Berclair	$876
Bethel Grove	$844
Whitehaven	$826
Oakhaven	$803
Frayser	$765
Chickasaw Oaks	$763
Orange Mound	$753

Memphis | Rent Comparison by Neighborhood

Rent in Bal - Moral is 32% higher than in Berclair

$1,158

Bal - Moral rent is 1% higher than Memphis average

Average Rent $1,158

$876

Berclair rent is 23% lower than Memphis average

Average Rent $876

How Memphis Compares to Other Cities

City	Average Rent
Memphis	$1,143
Nashville	$1,832
Knoxville	$1,761
Clarksville	$1,257
Murfreesboro	$1,578
Chattanooga	$1,460
Antioch	$1,481
Gallatin	$1,579
Madison	$1,395
La Vergne	$1,771
Hendersonville	$1,567
Southaven, MS	$1,394
Bartlett	$1,657
Horn Lake, MS	$1,339
West Memphis, AR	$797
Germantown, TN	$1,916
Millington, TN	$1,189

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.