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

The average size for a Downtown Memphis, Memphis, TN apartment is 807 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 Downtown Memphis?

As of Feb / 2026, the average rent in Downtown Memphis is $1,410 per month, a 1.89% increase from last years average of $1,383.

How much does rent cost by apartment size in Downtown Memphis?

In Downtown Memphis, studios rent for $1,120 per month, one-bedroom units average $1,317 per month, two-bedrooms cost around $1,710 per month, and three-bedroom apartments rent for about $1,482 per month

What is the average apartment size in Downtown Memphis?

The typical apartment in Downtown Memphis offers about 807 sq. ft. square feet of living space, though actual sizes vary depending on layout and amenities.

How large are apartments by bedroom count in Downtown Memphis?

Studio apartments in Downtown Memphis average 514 sq. ft., one-bedrooms offer 714 sq. ft., two-bedrooms are about 1,068 sq. ft., and three-bedroom apartments average 1,367 sq. ft.

Downtown Memphis, Memphis, TN Rental Market Trends

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

The typical rent budget in Downtown Memphis ranges from $1,001 to $1,500 per month, with 54% of rentals in this range.

Q: Do most people rent or own in Downtown Memphis?

In Downtown Memphis, 75% of households rent while 25% own their homes, based on the latest U.S. Census data.

Last updated: April 14, 2026 | Source: RentCafe Market Analysis, Yardi Matrix, U.S. Census Bureau

Highlights

The average rent for an apartment in Downtown Memphis is $1,410, a 1.89% increase compared to the previous year, when the average rent was $1,383.

Studio Apartments at $1,120 offer the most budget-friendly option with 514 square feet, ideal for single renters prioritizing location over space.

One-bedroom apartments provide 714 square feet for $1,317, balancing privacy and affordability.

Two-beedroom units at $1,710 offer 1,068 square feet, perfect for roommates or small families.

Three-bedroom apartments deliver maximum space (1,367 sq ft) for $1,482, suitable for larger households.

Average rent in Downtown Memphis, Memphis, TN

Last updated: April 14, 2026

	Average Rent	Average Apartment Size
All Rentals	$1,410	807 sq. ft.
Studio	$1,120	514 sq. ft.
1 Bed	$1,317	714 sq. ft.
2 Beds	$1,710	1,068 sq. ft.
3 Beds	$1,482	1,367 sq. ft.

Downtown Memphis, Memphis, TN rent trends

Rental prices in Downtown Memphis, Memphis, TN have increased by 1.89% over the past year. The average rent moved from $1,383 to $1,410.

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

The largest share of rentals in Downtown Memphis, Memphis, TN (54%) fall between $1,001-$1,500 per month. This suggests that most people succesfully find suitable apartments within this price.

Do most people rent or own in Downtown Memphis, Memphis, TN?

4,371 or 75% of the households in Downtown Memphis, Memphis, TN are renter-occupied while 1,471 or 25% are owner-occupied.

Most affordable neighborhoods in Downtown Memphis?

University Area $722/month

Orange Mound $760/month

Chickasaw Oaks $766/month

All of these neighborhoods fall below the city wide average of $1,135/month.

Most expensive neighborhoods in Downtown Memphis?

Binghampton $1,513/month

Mud Island $1,538/month

Normal Station $1,659/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	$1,659
Mud Island	$1,538
Binghampton	$1,513
South Riverdale	$1,489
Chickasaw Gardens	$1,473
Central Gardens	$1,464
Windyke - Southwind	$1,422
Med District	$1,416
Downtown Memphis	$1,410
Brennan	$1,407
River Oaks	$1,383
Uptown Memphis	$1,377
Cordova	$1,309
Riverside	$1,246
Lenox	$1,222
Bal - Moral	$1,179
Midtown Memphis	$1,149
New Chicago	$1,116
Galloway	$1,060
Shelby Farms Park	$1,056
Hickory Hill	$1,024
Colonial	$994
Fox Meadows	$947
Oakville	$945
Meadow Brook	$942
O'brien	$942
Sherwood Forest	$924
Southside Memphis	$920
Parkway Village	$899
Raleigh	$898
Berclair	$868
Bethel Grove	$847
Whitehaven	$832
Oakhaven	$801
Alcy - Dunn	$790
Frayser	$771
Chickasaw Oaks	$766
Orange Mound	$760
University Area	$722

Memphis | Rent Comparison by Neighborhood

Rent in Downtown Memphis is 79% higher than in Alcy - Dunn

$1,410

Downtown Memphis rent is the same as Memphis average

Average Rent $1,410

$790

Alcy - Dunn rent is 44% lower than Memphis average

Average Rent $790

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 Downtown 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.