Mud Island, Memphis, TN Rental Market Trends
Last updated: February 27, 2026 | Source: RentCafe Market Analysis, Yardi Matrix, U.S. Census Bureau
Highlights
The average rent for an apartment in Mud Island is $1,535, a 0.89% decrease compared to the previous year, when the average rent was $1,549.
One-bedroom apartments provide 794 square feet for $1,350, balancing privacy and affordability.
Two-beedroom units at $1,669 offer 1,126 square feet, perfect for roommates or small families.
Three-bedroom apartments deliver maximum space (1,429 sq ft) for $2,284, suitable for larger households.
Average rent in Mud Island, Memphis, TN
Last updated: February 27, 2026
| Average Rent | Average Apartment Size | |
|---|---|---|
| All Rentals | $1,535 | 969 sq. ft. |
| Studio | n/a | n/a |
| 1 Bed | $1,350 | 794 sq. ft. |
| 2 Beds | $1,669 | 1,126 sq. ft. |
| 3 Beds | $2,284 | 1,429 sq. ft. |
Mud Island, Memphis, TN rent trends
Rental prices in Mud Island, Memphis, TN have decreased by 0.89% over the past year. The average rent moved from $1,549 to $1,535.
What's the typical rent budget in Mud Island, Memphis, TN?
The largest share of rentals in Mud Island, Memphis, TN (57%) 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 Mud Island, Memphis, TN?
1,208 or 69% of the households in Mud Island, Memphis, TN are renter-occupied while 539 or 31% are owner-occupied.
Most affordable neighborhoods in Mud Island?
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 Mud Island?
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 |
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Memphis | Rent Comparison by Neighborhood
Rent in Mud Island is 97% higher than in Alcy - Dunn
$1,535
Mud Island rent is the same as Memphis average
Average Rent
$1,535
$780
Alcy - Dunn rent is 49% lower than Memphis average
Average Rent
$780
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 Mud Island 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.