Average Rent in Shelby, TN

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Current Versus Historical Shelby, TN Rents

Shelby rentals average $1,075 for a studio rental to $1,595 for a 4-bedroom rental. The median price of all currently available listings is $1,525, or roughly $15 per square feet.

For the apartment units and housing in June 2026, median rents have risen substantially over the last year. Studio rentals prices have increased by $383 (41.92%) year-over-year from $913 to $1,295. 1-bedroom rentals prices have increased by $190 (11.80%) year-over-year from $1,610 to $1,800. 2-bedroom rentals prices have increased by $857 (62.02%) year-over-year from $1,381 to $2,238. 3-bedroom rentals prices have increased by $80 (6.05%) year-over-year from $1,319 to $1,399. 4-bedroom rentals prices have decreased by $70 (-4.20%) year-over-year from $1,665 to $1,595. 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 up by 20.75% this month. 1-bedroom rents have gone up by 19.89% this month. 2-bedroom rents have gone up by 31.51% this month. 3-bedroom rents have gone up by 5.61% this month. 4-bedroom rents have gone down by 2.15% this month.

Beds	Price / Sqft	Jun 2026 Rent	1 Yr Ago Rent (% +/-)	3 Yr Ago Rent (% +/-)
Studio	$19.85	$1,295	$913 (41.92%)	$899 (44.05%)
1 BR	$18.02	$1,800	$1,610 (11.80%)	$1,486 (21.14%)
2 BR	$14.83	$2,238	$1,381 (62.02%)	$1,140 (96.27%)
3 BR	$13.57	$1,399	$1,319 (6.05%)	$1,425 (-1.82%)
4+ BR	$11.83	$1,595	$1,665 (-4.20%)	$1,889 (-15.57%)

Historical Rents in Shelby, TN

Studio

1 Bed

2 Bed

3 Bed

4 Bed

Top Cities Near Shelby

There are a total of 1 cities nearby Shelby. The average rent in Shelby is currently $1,440 per month. Only one city nearby has an average rent lower than that. Our records show that Memphis, TN, with an average rent of $1,440, is the most affordable city nearby. In contrast, the most expensive city near Shelby, TN is Memphis, TN. Monthly rents here are on average $1,440 per month.

Let's compare Shelby, TN's rent against other top cities nearby by bedroom size. Typically, rent for studios in Shelby, TN is on par with the other cities nearby. One bedrooms are about 2.12% more expensive. Two bedrooms in Shelby, TN are on par with the other cities nearby. Finally, rent for three bedrooms are about 1.13% more expensive. Want more information? Check out the top 1 cities near Shelby, TN in the following table.

City	Studio	1 Bed	2 Bed	All
Memphis, TN	$1,075	$1,728	$1,842	$1,440

Top Neighborhoods Near Shelby

Neighborhood	Studio	1 Bed	2 Bed	All

Top Counties Near Shelby

County	Studio	1 Bed	2 Bed	All

Top Zipcodes Near Shelby

Zipcode	Studio	1 Bed	2 Bed	All

Frequently Asked Questions - Shelby Average Rents

What is the average rent price in Shelby, TN?

The average monthly rental price for Shelby, TN apartments for rent is approximately $1,525. This calculation takes into consideration rental listings of varying bedroom/bathroom sizes, building types, and locations.

Do Shelby, 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 Shelby, TN.

How much is a studio apartment in Shelby, TN?

The average monthly rental price for studio apartments is $1,075 and an average price per square feet of $19.85. There are a total of 3 studio apartment listings currently available for rent in Shelby.

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

The average monthly rental price for one bedroom apartments is $1,765 and an average price per square feet of $18.02. There are a total of 38 one bedroom apartment listings currently available for rent in Shelby.

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

The average monthly rental price for two bedroom apartments is $1,842 and an average price per square feet of $14.83. There are a total of 38 two bedroom apartment listings currently available for rent in Shelby.

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

Rent prices for rentals in Shelby, TN can fluctuate yearly. Specifically, studio rental prices have changed by 0.42%, one bedroom rental prices have changed by 0.12%, two bedroom rental prices have changed by 0.62%, three bedroom rental prices have changed by 0.06% year-over-year.

What is a reasonable rent price in Shelby, TN?

A reasonable rent price in Shelby, TN is around $1,220/month. You can search for these reasonably priced rental listings on RentHop.