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Metro67
(901) 459-3578
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The Lofts At Union Alley
(901) 459-3586
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Pembroke Square
(901) 446-2160
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Number 10 Main
(901) 543-8356
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Jefferson Place Apartments
(901) 529-8841
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Barboro Flats
(901) 734-3333
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Van Fleet Flats
(901) 734-3333
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Gayoso House
(901) 459-3591
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Grand Island Apartment Homes
(901) 522-1212
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Harbor Island Apartments
(901) 244-6201
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Arbors Harbor Town
(901) 352-2541
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The W. L. Apartments
(901) 459-3593
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266 Lofts
(901) 572-7210
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The Chisca On Main
(901) 459-3576
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Foote Park At South City
(901) 979-0558
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Legends Park Apartments
(901) 295-3238
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Island Park And Harbor Town Square
(901) 523-7900
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South Line
(901) 486-1595
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City View Towers - Seniors 62 & Older
(870) 771-3433
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South Junction Apartments
(901) 672-7482
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The Peach Apartments
(901) 272-9028
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Parcels at Concourse
(901) 459-3549
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University Place Apartments
(901) 295-6734
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1298 Carr Ave
(901) 281-4441
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1282 VINTON
(901) 372-5513
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1287 Harbert
(901) 725-7766
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Apartments in Downtown Memphis

1 of 26 Results
66
3D Tour
$1,492 - 4,886
Metro67
4.1
67 Madison Ave. Memphis, TN
Studio - 2 BR | Available Now
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Dog Friendly
Cat Friendly
Student
Virtual Tour
Air Conditioning
8
$775 - 1,400
The Lofts At Union Alley
5.0
110 Barboro Alley Memphis, TN
Studio - 1 BR | Ask for Availability
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Dog Friendly
Cat Friendly
Air Conditioning
In Unit Laundry
Den
12
$1,000 - 1,800
Pembroke Square
5.0
125 Gayoso Ave Memphis, TN
1 - 2 BR | Ask for Availability
Contact
Dog Friendly
Cat Friendly
Air Conditioning
Covered Parking
Fitness Center
5
$960 - 2,100
Number 10 Main
5.0
10 S Main St Memphis, TN
1 - 2 BR | Available Now
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Dog Friendly
Cat Friendly
Section 8
In Unit Laundry
Fitness Center
13
$775 - 915
Jefferson Place Apartments
3.8
560 S. Jefferson Place Memphis, TN
1 - 2 BR | Available Now
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Dog Friendly
Cat Friendly
Section 8
Air Conditioning
In Unit Laundry
6
$950 - 1,640
Barboro Flats
3.0
100 Gayoso Ave Memphis, TN
1 - 2 BR | Available Now
Contact
Dog Friendly
Cat Friendly
Virtual Tour
Section 8
Air Conditioning
6
$1,200 - 1,850
Van Fleet Flats
5.0
122 Gayoso Avenue Memphis, TN
1 - 2 BR | Available Now
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Dog Friendly
Cat Friendly
Section 8
Air Conditioning
Covered Parking
9
$1,100
Gayoso House
4.9
130 S Front St Memphis, TN
1 - 2 BR | Ask for Availability
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Dog Friendly
Cat Friendly
Air Conditioning
Covered Parking
Fitness Center
25
$1,585 - 2,320
Grand Island Apartment Homes
3.2
300 Grand Island Drive Memphis, TN
1 - 3 BR | Ask for Availability
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Dog Friendly
Cat Friendly
Air Conditioning
Surface Parking
In Unit Laundry
25
$1,335 - 3,000
Harbor Island Apartments
5.0
444 Island Dr., Suite Memphis, TN
1 - 4 BR | Ask for Availability
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Dog Friendly
Cat Friendly
Air Conditioning
Surface Parking
Balcony, Deck, Patio
24
$1,025 - 1,777
Arbors Harbor Town
2.9
671 Harbor Edge Drive Memphis, TN
1 - 3 BR | Available Now
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Dog Friendly
Cat Friendly
Balcony, Deck, Patio
Fitness Center
Pool
11
$925 - 1,400
The W. L. Apartments
5.0
267 South Main St Memphis, TN
Studio - 2 BR | Ask for Availability
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Cat Friendly
Air Conditioning
Balcony, Deck, Patio
Dishwasher
28
$1,000 - 1,725
266 Lofts
2.6
266 S Front St Memphis, TN
1 - 2 BR | Available Now
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Dog Friendly
Cat Friendly
Air Conditioning
Covered Parking
Surface Parking
13
Call for Pricing
The Chisca On Main
Deal
4.6
272 S. Main St Memphis, TN
Studio - 3 BR | Ask for Availability
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Furnished
Dog Friendly
Cat Friendly
Virtual Tour
Air Conditioning
20
$691 - 1,340
Foote Park At South City
521 Vance Park Place Memphis, TN
1 - 3 BR | Ask for Availability
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Dog Friendly
Cat Friendly
Air Conditioning
In Unit Laundry
Balcony, Deck, Patio
15
$1,267 - 2,362
Legends Park Apartments
2.8
198 N Pauline St Memphis, TN
1 - 3 BR | Available Now
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Dog Friendly
Cat Friendly
In Unit Laundry
Balcony, Deck, Patio
Fitness Center
12
$1,020 - 1,510
Island Park And Harbor Town Square
1440 Island Park Drive Memphis, TN
1 - 2 BR | Available Now
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Dog Friendly
Cat Friendly
Section 8
In Unit Laundry
Balcony, Deck, Patio
13
3D Tour
$885 - 1,590
South Line
4.5
676 S Front St Memphis, TN
Studio - 2 BR | Available Now
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Dog Friendly
Cat Friendly
Virtual Tour
In Unit Laundry
Balcony, Deck, Patio
14
$100 - 350
City View Towers - Seniors 62 & Older
256 S Camilla St Memphis, TN
1 BR | Available Now
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Heat Included
Senior Community
Income Restricted
Air Conditioning
Surface Parking
12
$1,375 - 1,450
South Junction Apartments
Deal
4.2
9 East Carolina Ave Memphis, TN
2 BR | Available Now
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Dog Friendly
Cat Friendly
In Unit Laundry
Balcony, Deck, Patio
Fitness Center
3
$425
The Peach Apartments
1330 Peach Ave Memphis, TN
1 BR | Available Now
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46
$1,920 - 3,951
Parcels at Concourse
5.0
1350 Concourse Ave Suite 750 Memphis, TN
1 - 3 BR | Available Now
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Dog Friendly
Cat Friendly
Air Conditioning
Covered Parking
Surface Parking
34
$1,169 - 1,862
University Place Apartments
Deal
3.3
1045 East Eh Crump Blvd Memphis, TN
1 - 3 BR | Available Now
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Heat Included
Dog Friendly
Cat Friendly
Air Conditioning
Covered Parking
6
$750
1298 Carr Ave
Memphis, TN
Studio | Available Now
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Balcony, Deck, Patio
Disability Access
Dishwasher
2
$1,050 - 1,250
1282 VINTON
Memphis, TN
2 - 3 BR | Available Now
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Storage
Dishwasher
35
$3,200
1287 Harbert
Memphis, TN
3 BR | Available Now
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Balcony, Deck, Patio
Storage
Dishwasher
1 - 26 of 26 Results
  1. Home
  2. Memphis
  3. Downtown Memphis

How much does it cost to rent an apartment in Memphis?

Memphis Apartments
Bed Type Average Rent Range
Studio $1,080 $690 - $2,020
1BR $1,000 $550 - $1,700
2BR $1,150 $630 - $1,790
3BR $1,250 $750 - $2,350
4+BR $1,480 $650 - $2,850
Frequently Asked Questions

How many apartments are available in Memphis, TN on Rentable.co?

Rentable.co has over 17,932 apartments available in Memphis.

What is the average rent for a studio apartment in Memphis, TN?

The average rent for a studio apartment in Memphis is around $1,080 per month.

What is the average rent for a one-bedroom apartment in Memphis, TN?

The average rent for a one-bedroom apartment in Memphis is around $1,000 per month.

What is the average rent for a two-bedroom apartment in Memphis, TN?

The average rent for a two-bedroom apartment in Memphis is around $1,150 per month.

How expensive is living in Memphis, TN?

Based on average rent prices in Memphis, to afford a studio apartment you would need an annual salary of $43,000 to live comfortably.

Downtown Memphis Neighborhood Summary

Memphis is a great city with lots of great neighborhoods to live in and fun places to hang out. And the heart of the city is downtown. Central Memphis is filled with some spectacular bars, restaurants, and shops. You can also enjoy the wonderful music and arts scene here, as well.

Asset 2
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Apartments Under $700
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Memphis:
May Rent Report

Welcome to the May 2023 Memphis Apartment Report. In this assessment of the local rental market, Rentable data scientists and rental experts break down the May 2023 key findings and figures for the Memphis rental landscape.

Our experts analyze the pricing trends — one-bedroom, two-bedroom, year-over-year and month-over-month — in Memphis and surrounding areas and provide comparisons to the entire metro area, nearby cities and some of the most desirable and expensive cities in the United States. Take a look at the last 12 months of Memphis average rent prices in the chart below.

Monthly Rent Report

Memphis Rent Prices Increase From April to May

Memphis rent prices increased over the last month. From April to May, the city experienced a 1.43% increase for the price of a one-bedroom apartment. The rent price for a Memphis one-bedroom apartments currently stands at $996.0.

When we take a look at the two-bedroom comparison from April to May, Memphis experienced a -0.62% decrease for the price of a two-bedroom apartment. The rent price for a Memphis two-bedroom apartments currently stands at $1,129.0.

May Prices: Memphis vs. Surrounding Areas

Rent Prices in Memphis and Surrounding Areas

Rent prices have increased in Memphis over the last month. But how have the surrounding areas fared when it comes to the recent volatility in apartment prices? Rent prices in 3 of the Memphis suburbs increased last month. On the other hand, 3 local areas experienced a decrease in the price of a one-bedroom apartment.

More key findings include:

  • Rent increased in Cordova, TN, Southaven, MS, Walls, MS .

  • Rent decreased in Collierville, TN, Horn Lake, MS, Germantown, TN.

  • 5 suburbs are currently priced higher than the city of Memphis.

  • 1 suburb is currently priced lower than the city of Memphis.

May 2023 Pricing Trends: Memphis vs. National Comparisons

Memphis Rent Prices More Affordable Than Major Cities

Rent growth in Memphis over the past year has been on the rise. When compared to major cities nearby, along with some of the most expensive cities in the country, Memphis average rent prices appear to be relatively affordable for local residents.

The price for a Memphis one-bedroom apartment remains vastly more affordable than four of the largest cities in the United States — New York City, Washington, D.C. San Francisco and Los Angeles. And pricing compares quite similarly to nearby Midwest cities.

For more information about Memphis and surrounding area rent prices, take a look at the complete data set below.

Data set for Memphis and suburbs

1 BR May 1 BR M/M % Change 2 BR May 2 BR M/M % Change
Memphis, TN $982.0 0.51% $1,136.0 -1.56%
Cordova, TN $1,439.0 1.98% $1,583.0 0.89%
Southaven, MS $1,393.0 2.65% $1,474.0 -0.47%
Collierville, TN $1,382.0 -0.43% $1,663.0 0.36%
Horn Lake, MS $1,307.0 -1.28% $1,369.0 0.00%
Walls, MS $985.0 4.12% $1,201.0 5.35%
Germantown, TN $1,499.0 0.00% $1,830.0 0.06%

Methodology

Each month, using over 1 million Rentable listings across the United States, we calculate the median 1-bedroom and 2-bedroom rent prices by city, state, and nation, and track the month-over-month percent change. To avoid small sample sizes, we restrict the analysis for our reports to cities meeting minimum population and property count thresholds.