Apartments for Rent in Memphis, TN

Listings last updated 10/23/2021
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Frequently Asked Questions

How much is the average rent in Memphis, TN?

The average rent in Memphis, TN is at $967. There are 81 apartments for rent in Memphis, TN to choose from, with prices between $450 and $7,500 per month.

How to search for apartments for rent in Memphis, TN?

Your perfect apartment for rent in Memphis, TN is just a few clicks away on Point2. You can look up 1-bedroom, 2-bedroom, 3-bedroom apartments, studio apartments or any other type of rental in Memphis, TN. Just use the filtering options available to find properties according to your needs. 

How to find Memphis, TN apartments for rent I can afford?

On Point2, you can search for apartment rentals in Memphis, TN based on your budget. Sort all condos according to price, or get a tailored list of properties by setting the minimum and maximum monthly rates you're comfortable with. Moreover, you can use the Price Drop filter to look for any recent rent declines on the Memphis, TN rental market. 

What type of information can I find on Point2?

Point2 offers a lot of information about rentals in Memphis, TN, from property type, square footage and amenities to area demographics and even local rent trends. Additionally, you can use the map view to check if the apartments you're looking at are close to the facilities and services you need. The name and contact details of the real estate agents handling the condos are available on all listings, so just reach out to them directly through the contact forms provided.

Renter’s City Guide to Memphis, TN

Introducing Memphis Expenses & Housing Stats Jobs & Education Lifestyle & Renting Tips

The city of Memphis is known for its strong culture and history and is rated among the top cities in the country for live music, especially blues. Aretha Franklin, Johnny Cash, Elvis Presley and other major music stars all started their careers in the city. The fantastic arts and food scenes should also be noted. Memphis is also ranked among the best cities to start a business. The first Holiday Inn and Piggly Wiggly are some large companies that were launched in the city.  

How big is Memphis?

Memphis is the largest city in Tennessee when it comes to population. However, the city is 60% smaller than Nashville in size. Memphis is also nearly three times larger than Atlanta, with a total size of 324 square miles. 

How far is Memphis from other cities? 

Nashville (located 210 miles away) and Atlanta (situated 383 miles away) are some of the largest nearby cities that can be accessed by car. 

What is the weather like in Memphis?

The city’s climate is categorized as humid subtropical. It features very humid and very warm summers with average temperatures hovering at around 83°F. Naturally, it can get much hotter than the average at times. Winter months experience snowfall and boast an average temp of 41°F.

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What are the advantages of living in Memphis? 

The strong tourism industry, rich culture, fantastic food and great music are some of the city’s finest assets. It’s ideal for anyone interested in munching on ribs and listening to live blues music.

Memphis Demographic Highlights

Total Population 651,932
Female
Male
343,472
308,460
Median Age 34
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How much does a meal cost in Memphis?

A three-course meal for two in a mid-range restaurant is priced at $40, on average.

How much does public transportation cost in Memphis? 

Local bus fares cost $1.75 one-way, with discounts available for students, seniors and disabled individuals. A monthly pass costs $50.

How much do utilities cost in Memphis?

Basic utilities for a 915-square-foot home cost $141.69, on average, which is below the national average of $159.72.

Memphis Rent Statistics

Apartment Rent Ranges

$501 - $70029.54%
$701 - $1,00033.7%
$1,001 - $1,50024.12%
$1,501 - $2,0009.13%
> $20000%

Average Rent Trends

What is the average rent in Memphis?

The average rent for an apartment in Memphis is $953 per month.

What is the average apartment size in Memphis?

The average apartment size in Memphis is 909 sq. ft.

What is the rent for a studio apartment in Memphis?

Rent for a studio apartment in Memphis ranges between $934 and $2,998 per month.

What is the rent for a 1-bedroom apartment in Memphis?

Rent for a 1-bedroom apartment in Memphis ranges between $450 and $4,028 per month.

What is the rent for a 2-bedroom apartment in Memphis?

Rent for a 2-bedroom apartment in Memphis ranges between $475 and $4,838 per month.

What is the rent for a 3-bedroom apartment in Memphis?

Rent for a 3-bedroom apartment in Memphis ranges between $645 and $5,139 per month.

Memphis Housing Statistics

Occupied Housing Units 251,732
Owner occupied 46.62%
Renter occupied 53.38%
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Where to work in Memphis? 

Tourism is one of the most important industries in the city because so many people flock to Memphis for its culture and history. This is followed closely by manufacturing, service and agribusiness. FedEx, AutoZone, International Paper and Ducks Unlimited are some of the largest employers in the city.

Memphis Employment Statistics

White Collar 213,642
Blue Collar 78,913
White Collar 73.03%
Blue Collar 26.97%
Self Employment 19,890
Private Companies 212,757
Governmental Workers 35,124
Not for Profit Companies 24,784
Self Employment 6.8%
Private Companies 72.72%
Governmental Workers 12.01%
Not for Profit Companies 8.47%

What are the top colleges in Memphis?

The University of Memphis is one of the finest institutions of higher education in the city, offering programs in law, science, fine arts and many more. Rhodes College is one of the top liberal colleges in the country, while Southwest Tennessee Community College offers more affordable and shorter degrees.

Memphis Education Statistics

No High School4.51%
Some High School40.61%
Some College25.7%
Associate Degree5.33%
Bachelor Degree14.71%
Graduate Degree0%
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The mile-long Beale Street is one of the city’s top attractions. It serves as a hub for music, food and nightlife, and features tons of restaurants and venues to enjoy. Graceland — the former home of Elvis Presley — is a favorite amongst tourists and a prime spot to learn about his life and the history of music. The iconic Sun Studio — where the first rock ’n’ roll single was recorded in 1951 — was frequented by stars such as Johnny Cash, B.B. King, Howlin’ Wolf and Elvis Presley, and is another one of Memphis’ main attractions. 

What music events are there in Memphis?

Memphis in May is the most iconic festival hosted in the city, boasting an entire month of events and treating crowds to different types of music each week. 

What cultural attractions are there in Memphis?

If you’d like to learn more about Memphis’ rich music history, then the Memphis Rock ‘n’ Soul Museum should definitely be on your list. The National Civil Rights Museum — located at the Lorraine Motel where Martin Luther King was tragically shot and killed in 1968 — is another must-see. 

What family attractions are there in Memphis?

The Memphis Zoo, with its lions, tigers and bears, is one of the most popular family attractions of the city. Mississippi Greenbelt Park, Overton Park and the banks of the Mississippi River are other fantastic places to enjoy a walk or a picnic. 

What sports teams are there in Memphis? 

The Memphis Grizzlies pro basketball team; the University of Memphis Tigers basketball and football teams; and the Memphis Redbirds minor league baseball team are the most famous sports teams in the city. 

Where to shop in Memphis? 

Wolfchase Galleria is one of the best shopping centers in Memphis.

Memphis Household Statistics

Total Number of Households 251,732
Average People Per Household 3
Median Household Income$41,228
Average Household Income$62,592
Family
Non-family
142,433
109,299
Children
No Children
73,285
178,447

What to know about renting in Memphis?  

According to Tennessee rental laws, if you’re served an eviction notice, you have a total of 14 days to fix the problem. Otherwise, you’re given 16 days to move out. If your landlord fails to hold up their end of the bargain and doesn’t complete the required repairs, then tenants are able to withhold a portion of their rent. If you’re more than five days late with your rent, the landlord can charge a late fee, which must be less than 10% of your total rent and can’t be assessed on a Sunday.

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