The Peabody Collection (opens in new tab)

50 Peabody Place, Memphis, TN 38103

(901) 557-3038

$1,238+/moTotal price12-mo lease

This property is offering a limited-time move-in special.

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The View at Shelby Farms Apartments Gallery 1

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Sycamore Lake (opens in new tab)

2174 Westchester Dr, Memphis, TN 38134

(901) 459-3114

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UPDATED 3 bed, 1 bath near U of M. Gallery 1

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3 Bedroom Home in Memphis | Just renovated | $1,150/Month | Housing Vouchers Accepted Gallery 1

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797 N Merton St. Memphis, Tn 38112 Gallery 1

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The Bowery (opens in new tab)

6332 Village Grove Dr, Memphis, TN 38115

(901) 675-7977

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The Brooklyn (opens in new tab)

3095 Autumnwood Avenue, Memphis, TN 38115

(901) 673-8804

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City Guide

The average rent for a 1 bedroom apartment in Memphis is $1,106+, while the average rent for a 2 bedroom apartment is $1,232+. Rent rates updated 5 days ago

Studio: $994+
Prices trending up
1 Bed: $1,106+
Prices trending up
2 Beds: $1,232+
Prices trending up
3+ Beds: $1,506+
Prices trending up

* Averages are based on the rental prices of properties listed on Apartment List that don’t include fees

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Finding and Renting an Apartment in Memphis, Tennessee

Memphis is a soulful, historic city known as the “Birthplace of Rock n’ Roll.” It’s one of the best places to live in Tennessee, offering residents an enticing culture. From rich Southern cuisine to lively blues clubs, it’s clear why this vibrant city appeals to so many.

If you’re ready to call Memphis home, there are plenty of incredible areas to explore. Cordova is a front-runner for families wanting a more suburban feel. It offers a quieter, community-focused environment with easy access to city amenities. For outdoor enthusiasts, Overton Park and the Greenline have extensive green spaces and trails, perfect for weekend picnics and leisurely bike rides. And the iconic Beale Street is a hub for nightlife and dining, surrounded by apartments that attract young professionals and creatives alike.

With so many incredible neighborhoods to choose from, you’ll need a better strategy than simply typing “apartments for rent near me” into Google to find an apartment in Memphis. Whether you’re searching in the bustling downtown area or family-friendly Cordova, Apartment List can simplify your search. Our mobile-friendly app tailors search results to fit your needs.

Download our app from Google Play or the App Store, take our Renter Quiz, and explore a curated list of Memphis apartments that perfectly match your preferences. From luxury two-bedroom penthouses to affordable, pet-friendly options, your perfect home is just a few clicks away.

Frequently Asked Questions (FAQs)

In Memphis, TN, the average rent is $994+ for a studio, $1,106+ for a 1-bedroom, $1,232+ for a 2-bedroom, and $1,506+ for a 3-bedroom.* For more information on rental trends in Memphis, TN, check out our monthly Memphis, TN Rent Report.
*Based on base prices that don’t include fees
You can find the lowest-priced apartments in Memphis, TN by using the cheap apartments filter or you can search by apartments that are offering move-in specials.
You can use the pet-friendly filter to find Memphis, TN apartments that allow pets.
The answer to this question depends on your household income and a couple of other factors. You can use our Rent Calculator to figure out how much you should spend on rent in Memphis, TN.
You can use the off-campus housing filters to find apartments near colleges located in or around Memphis, TN. Some of the colleges and universities in the area include Christian Brothers University, Baptist Memorial College of Health Sciences, The University of Tennessee-Health Science Center, University of Memphis, and Southwest Tennessee Community College.

Memphis Rent Report: October 2026

Welcome to the Apartment List October 2026 Rent Report for Memphis, TN. Currently, the overall median rent in the city stands at $1,065, roughly the same as last month. Prices are now down 1.0% year-over-year. Read on to learn more about what’s been happening in the Memphis rental market and how it compares to trends throughout the nation as a whole.

View full Memphis Rent Report

Memphis Renter Confidence Survey

National study of renter’s satisfaction with their cities and states

Here’s how Memphis ranks on:

Overview of Findings

Apartment List has released Memphis’ results from the third annual Apartment List Renter Satisfaction Survey. This survey, which drew on responses from over 45,000 renters nationwide, provides insight on what states and cities must do to meet the needs of the country’s 111 million renters.

"Memphis renters expressed general satisfaction with the city overall," according to Apartment List. "Some categories received average scores, and many received below average scores."

Key Findings in Memphis include the following:

Memphis renters gave their city a C overall.
The highest-rated categories for Memphis were affordability and weather, which received A and B grades, respectively.
The areas of concern to Memphis renters are quality of local schools, public transit and safety and low crime rates, which all received F scores.
Memphis did relatively poorly compared to other cities in Tennessee, including Nashville (A-) and Knoxville (B-).
Memphis earned similar scores to other cities nationwide, including Columbus (C+), Las Vegas (C) and Indianapolis (C+).
The top rated cities nationwide for renter satisfaction include Scottsdale, AZ, Irvine, CA, Boulder, CO and Ann Arbor, MI. The lowest rated cities include Tallahassee, FL, Stockton, CA, Dayton, OH, Detroit, MI and Newark, NJ.

Renters say:

"Great food and a good cost of living." -Shontrae R.
"I love the city as a whole, but worry about the crime." -Patricia S.
"I love that the city offers different cultural festivals. This is a music city and it shows!" -Chastia J.

For more information on the survey methodology and findings or to speak to one of our researchers, please contact our team at rentonomics@apartmentlist.com.

View our national survey results.

Renting in Memphis: Tips and local insights

Navigate apartment hunting and city life like a local with our curated articles about Memphis, Tennessee.

Apartment Moving
Cost of Living in Memphis, TN (2026): What Renters Should Budget
August 24
Read full story

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