Cheap Apartments for Rent in Memphis, TN
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Studio-3 Beds
1-3 BathsThe Residences at Lakeview | 2774 S Mendenhall Rd,
Memphis, TN 38115
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Average Rent Trends in Memphis, TN
Rent in Memphis, TN varies by number of bedrooms and home type. Use these charts to quickly see how rent changes.
Average rent increased in Aug 2026 compared to the previous month. Rent previously peaked in Apr 2025.
| Month | Average rent |
|---|---|
| Sep 2025 | $1,300 |
| Oct 2025 | $1,295 |
| Nov 2025 | $1,250 |
| Dec 2025 | $1,250 |
| Jan 2026 | $1,235 |
| Feb 2026 | $1,225 |
| Mar 2026 | $1,235 |
| Apr 2026 | $1,250 |
| May 2026 | $1,250 |
| Jun 2026 | $1,250 |
| Jul 2026 | $1,259 |
| Aug 2026 | $1,275 |
Average Rent By Bedroom and Home Type
In August 2026, Apartments and Condos were the most affordable home type to rent compared with Townhomes and Houses.
| 1 bed | 2 beds | 3 beds | 4 beds | All | |
|---|---|---|---|---|---|
| All home types | $880 | $975 | $1,350 | $1,575 | $1,275 |
| Townhomes | $800 | $1,050 | $1,475 | $1,400 | $1,200 |
| Apartments and Condos | $850 | $900 | $1,375 | $1,550 | $950 |
| Houses | $750 | $995 | $1,350 | $1,575 | $1,375 |
Frequently Asked Questions about Rentals in Memphis, TN
- What is the average rent of an apartment in Memphis, TN?The average rent of an apartment in Memphis, TN is $936 per month. This is about 52% lower than the national average.
- When is the average rent cheapest in Memphis, TN?In the last year, the average rent in Memphis, TN was lowest in Nov 2025 when it was $1,250 per month.
- When is the average rent most expensive in Memphis, TN?In the last year, the average rent in Memphis, TN was highest in Apr 2025 when it was $1,350 per month.
- How does the rent of a 1 bedroom apartment compare to a studio apartment in Memphis, TN?The average rent of a 1 bedroom apartment in Memphis, TN is $880 per month. That is about $318 less than the cost of a studio apartment.
- How many available rental listings are in Memphis, TN?There are 3,197 available rental listings in Memphis, TN.
- What colleges and universities are in Memphis, TN?Colleges and universities in Memphis, TN include: University of Memphis.
- What are some neighborhoods in Memphis, TN?Some neighborhoods in Memphis, TN include: East Memphis-Colonial-Yorkshire, White Haven-Coro Lake, Hickory Ridge-South Riverdale, Midtown, Raleigh.
- What are some zip codes in Memphis, TN?
- What are some cities near Memphis, TN?Some nearby cities include: Southaven, West Memphis, Horn Lake, Germantown, Bartlett. These cities may have more rental options to explore.
View this page in Spanish: Apartamentos baratos en renta en Memphis, TN - 6,445 Rentas | Trulia