Average Rent in Memphis, TN

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Current Versus Historical Memphis, TN Rents

Memphis rentals average $890 for a studio rental to $1,660 for a 4-bedroom rental. The median price of all currently available listings is $1,250, or roughly $13 per square feet.

For the apartment units and housing in July 2026, median rents have fallen substantially over the last year. Studio rentals prices have decreased by $78 (-8.09%) year-over-year from $968 to $890. 1-bedroom rentals prices have decreased by $615 (-38.20%) year-over-year from $1,610 to $995. 2-bedroom rentals prices have increased by $8 (0.68%) year-over-year from $1,195 to $1,203. 3-bedroom rentals prices have increased by $98 (7.78%) year-over-year from $1,253 to $1,350. 4-bedroom rentals prices have decreased by $22 (-1.29%) year-over-year from $1,682 to $1,660. Note that this figure includes all active and rented listings throughout the month.

Month-to-month, seasonality might have a bigger impact than overall trend price changes. Studio rents have gone down by 15.71% this month. 1-bedroom rents have gone down by 10.87% this month. 2-bedroom rents have gone down by 12.21% this month. 3-bedroom rents have gone up by 5.68% this month. 4-bedroom rents have gone up by 6.98% this month.

Beds	Price / Sqft	Jul 2026 Rent	1 Yr Ago Rent (% +/-)	3 Yr Ago Rent (% +/-)
Studio	$21.23	$890	$968 (-8.09%)	$960 (-7.31%)
1 BR	$21.16	$995	$1,610 (-38.20%)	$1,406 (-29.22%)
2 BR	$13.68	$1,203	$1,195 (0.68%)	$1,068 (12.69%)
3 BR	$12.15	$1,350	$1,253 (7.78%)	$1,322 (2.12%)
4+ BR	$12.55	$1,660	$1,682 (-1.29%)	$1,564 (6.13%)

Historical Rents in Memphis, TN

Studio

1 Bed

2 Bed

3 Bed

4 Bed

Top Cities Near Memphis

City	Studio	1 Bed	2 Bed	All

Top Neighborhoods Near Memphis

Neighborhood	Studio	1 Bed	2 Bed	All

Top Counties Near Memphis

There are a total of 1 counties located by Memphis, TN. One county in the area is Shelby, TN. The average rent for rentals in these counties is $1,238. That's roughly around $13 per sqft. A total of one county has a lower average rent. The county that is the most affordable is Shelby, TN. Its average rent per month is $1,238. Vice versa, with an average rent of $1,238, Shelby, TN is the most expensive county by Memphis, TN.

Typically, rent for studios in Memphis, TN is on par with the other counties nearby. In comparison, rent for one bedroom listings in Memphis, TN is on par with the other counties nearby. Finally, rent for two bedrooms in Memphis, TN is 7.73% more expensive than other counties nearby. We've listed all of these counties in the table below.

County	Studio	1 Bed	2 Bed	All
Shelby, TN	$890	$995	$1,110	$1,238

Top Zipcodes Near Memphis

Zipcode	Studio	1 Bed	2 Bed	All

Frequently Asked Questions - Memphis Average Rents

What is the average rent price in Memphis, TN?

The average monthly rental price for Memphis, TN apartments for rent is approximately $1,250. This calculation takes into consideration rental listings of varying bedroom/bathroom sizes, building types, and locations.

Do Memphis, TN rent prices drop in winter?

Yes! On average we see a 3.4% drop in rental prices between the peak summer months and the slower winter months. With the added bonus of decreased competition from other renters looking to move, winter is generally considered the best time of the year to find an apartment for rent in Memphis, TN.

How much is a studio apartment in Memphis, TN?

The average monthly rental price for studio apartments is $890 and an average price per square feet of $21.23. There are a total of 1 studio apartment listings currently available for rent in Memphis.

How much is a one bedroom apartment in Memphis, TN?

The average monthly rental price for one bedroom apartments is $995 and an average price per square feet of $21.16. There are a total of 12 one bedroom apartment listings currently available for rent in Memphis.

How much is a two bedroom apartment in Memphis, TN?

The average monthly rental price for two bedroom apartments is $1,203 and an average price per square feet of $13.68. There are a total of 25 two bedroom apartment listings currently available for rent in Memphis.

How have rent prices in Memphis, TN changed this year?

Rent prices for rentals in Memphis, TN can fluctuate yearly. Specifically, studio rental prices have changed by -0.08%, one bedroom rental prices have changed by -0.38%, two bedroom rental prices have changed by 0.01%, three bedroom rental prices have changed by 0.08% year-over-year.

What is a reasonable rent price in Memphis, TN?

A reasonable rent price in Memphis, TN is around $1,000/month. You can search for these reasonably priced rental listings on RentHop.