Cheap Apartments for Rent in Memphis, TN
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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 stayed about the same in Nov 2026 compared to the previous month. Rent previously peaked in Apr 2025.
| Month | Average rent |
|---|---|
| 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 |
| Sep 2026 | $1,250 |
| Oct 2026 | $1,250 |
| Nov 2026 | $1,250 |
Average Rent By Bedroom and Home Type
In November 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 | $887 | $990 | $1,350 | $1,550 | $1,250 |
| Townhomes | $725 | $1,250 | $1,506 | $1,500 | $1,250 |
| Apartments and Condos | $875 | $895 | $1,490 | $1,750 | $950 |
| Houses | $750 | $995 | $1,345 | $1,550 | $1,350 |
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 $948 per month. This is about 51% lower than the national average.
- What are the cheapest months to find an apartment to rent in Memphis, TN?Last year, the cheapest month to find an apartment to rent was Nov 2025 when it was $1,250 per month.
- How many cheap apartments are available in Memphis, TN?There are 1,531 apartments to rent that are cheaper than the city’s average rent of $1,250.
- 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 $887 per month. That is about $38 less than the cost of a studio apartment.
- 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: Colonial-Yorkshire, Colonial-Yorkshire, Coro Lake, 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, Germantown, West Memphis, Horn Lake, Cordova. These cities may have more rental options to explore.
View this page in Spanish: Apartamentos baratos en renta en Memphis, TN - 5,951 Rentas | Trulia