What's the average rent in Memphis, TN?

Rental Market Trends in Memphis, TN

SOURCE: TRULIA DATA

Rental market highlights

As of May 2026, the average rent in Memphis, TN is $1,250 per month, which is 35% lower than the national average rent of $1,930 per month.

AVERAGE RENT

$1,250

0.0%No change month over month

-7.1%-$95 decrease year-over-year

AVAILABLE RENTALS

3,069

APARTMENTS

$944

HOUSES

$1,375

TOWNHOUSES

$1,150

As of May 2026, apartments are the most affordable rental option in Memphis, TN at $944 per month, while houses are the most expensive at $1,375 per month. Townhomes average $1,150 per month, offering a mid-range alternative for renters.

Average rent by number of bedrooms

Floor plan type	Average rent
1 Bedroom	$875
2 Bedrooms	$990
3 Bedrooms	$1,350
4 Bedrooms	$1,550
All	$1,250

As of May 2026, the average rent for a 1 bedroom rental in Memphis, TN is $875 per month, followed by $990 for a 2 bedroom rental, $1,350 for a 3 bedroom rental, and $1,550 for a 4 bedroom rental.

Floor plan type	Average rent
1 Bedroom	$650
2 Bedrooms	$1,050
3 Bedrooms	$1,350
4 Bedrooms	$1,400
All	$1,150

As of May 2026, the average rent for a 1 bedroom townhome in Memphis, TN is $650 per month, followed by $1,050 for a 2 bedroom townhome, $1,350 for a 3 bedroom townhome, and $1,400 for a 4 bedroom townhome.

Floor plan type	Average rent
1 Bedroom	$850
2 Bedrooms	$950
3 Bedrooms	$1,395
4 Bedrooms	$892
All	$945

As of May 2026, the average rent for a 1 bedroom apartment in Memphis, TN is $850 per month, followed by $950 for a 2 bedroom apartment, $1,395 for a 3 bedroom apartment, and $892 for a 4 bedroom apartment.

Floor plan type	Average rent
1 Bedroom	$765
2 Bedrooms	$995
3 Bedrooms	$1,350
4 Bedrooms	$1,570
All	$1,375

As of May 2026, the average rent for a 1 bedroom house in Memphis, TN is $765 per month, followed by $995 for a 2 bedroom house, $1,350 for a 3 bedroom house, and $1,570 for a 4 bedroom house.