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Last updated September 23 2020 at 8:56 PM

394 Apartments for rent in Memphis, TN

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Hickory Hill
Parkway Village
Springhill Community Civic Club
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Check out 394 verified apartments for rent in Memphis, TN with rents starting as low as $350. Some apartments for rent in Memphis might offer rent specials. Look out for the
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rent special icon!
Verified
17 Units Available
Chisca on Main
272 S Main St
Memphis, TN | South Main
Studio
$975
637 sqft
1 Bedroom
$1,150
723 sqft
2 Bedrooms
$1,450
1107 sqft
Last updated September 24 at 12:38 AM
The Chisca was the hotel of choice for railroad travelers, mule dealers, and entertainers who prized its prime location.
Verified
64 Units Available
Museum Lofts
138 Huling Avenue
Memphis, TN | South Main
1 Bedroom
$1,075
679 sqft
2 Bedrooms
$1,950
1263 sqft
Last updated September 24 at 12:37 AM
In the heart of Downtown Memphis but off the beaten path, Museum Lofts welcomes you to a new model for city living.
Verified
11 Units Available
ReNew Riverview
99 N Main St
Memphis, TN | The Core
Studio
$1,028
432 sqft
1 Bedroom
$1,154
770 sqft
2 Bedrooms
$1,290
1293 sqft
Last updated September 24 at 12:36 AM
Now offering in-person, virtual & self-guided tours by appointment! To help stop the spread of COVID-19, face masks are required.
Verified
7 Units Available
Vantage at Germantown
7885 Silver Spur Cir N
Memphis, TN | Kirby Woods
1 Bedroom
$1,045
675 sqft
2 Bedrooms
$1,320
970 sqft
3 Bedrooms
$1,450
1150 sqft
Last updated September 24 at 12:34 AM
Luxury apartment home living in Memphis, Tennessee can be found at Vantage at Germantown. Our community sits in an exceptional location, placing you in close proximity to fine dining, shopping, and entertainment.
Verified
3 Units Available
Adler Apartments
267 S Main St
Memphis, TN | South Main
Studio
Ask
1 Bedroom
$975
823 sqft
2 Bedrooms
$1,050
940 sqft
Last updated September 24 at 12:34 AM
Adler Apartments is located in the South Main Historic District in downtown Memphis, TN. Comprised of 22 units, our community offers a unique mix of efficiencies, one and two bedroom units.
Verified
2 Units Available
Cooper-Young Apartments
1103 S Cooper St
Memphis, TN | Castalia
1 Bedroom
Ask
2 Bedrooms
$700
900 sqft
3 Bedrooms
Ask
Last updated September 24 at 12:33 AM
Find studio, 1, 2 and 3 bedroom apartments for rent at Cooper-Young Apartments in Memphis. View photos, descriptions and more!
Verified
16 Units Available
The Residence at Village Green
3450 Fescue Ln
Memphis, TN | Hickory Hill
1 Bedroom
$590
703 sqft
2 Bedrooms
$655
1155 sqft
3 Bedrooms
$805
1370 sqft
Last updated September 24 at 12:31 AM
Find studio, 1, 2 and 3 bedroom apartments for rent at The Residence at Village Green in Memphis. View photos, descriptions and more!
Verified
5 Units Available
Macon Manor
4517 Macon Road
Memphis, TN | Berclair - Highland Heights
1 Bedroom
Ask
2 Bedrooms
$575
850 sqft
Last updated September 24 at 12:30 AM
Welcome to Macor Manor Apartments located in Memphis, Tennessee!
Verified
1 Unit Available
Lakes at Epping Way
2690 Drury Way Ln
Memphis, TN | Springhill Community Civic Club
1 Bedroom
Ask
2 Bedrooms
Ask
3 Bedrooms
$805
1400 sqft
Last updated September 24 at 12:28 AM
Our community offers 1, 2, & 3 bedroom apartments for rent in Memphis, Tennessee. At The Lakes at Epping Way, we are a pet-friendly community.
Verified
8 Units Available
Country View Apartments
3990 Stephanie Ln
Memphis, TN | Springhill Community Civic Club
1 Bedroom
$565
646 sqft
2 Bedrooms
$655
872 sqft
3 Bedrooms
$750
1285 sqft
Last updated September 24 at 12:28 AM
Find studio, 1, 2 and 3 bedroom apartments for rent at Country View Apartments in Memphis. View photos, descriptions and more!
Verified
13 Units Available
Highland Chateau
5246 Raleigh LaGrange Rd
Memphis, TN
1 Bedroom
$700
760 sqft
2 Bedrooms
$855
1250 sqft
3 Bedrooms
$990
1550 sqft
Last updated September 24 at 12:25 AM
Find studio, 1, 2 and 3 bedroom apartments for rent at Highland Chateau in Memphis. View photos, descriptions and more!
Verified
1 Unit Available
Cherry Creek
1460 Cherry Rd
Memphis, TN | Colonial Acres
1 Bedroom
Ask
2 Bedrooms
Ask
3 Bedrooms
$725
950 sqft
Last updated September 24 at 12:21 AM
Find studio, 1, 2 and 3 bedroom apartments for rent at Cherry Creek in Memphis. View photos, descriptions and more!
Verified
20 Units Available
Grand Island Apartment Homes
300 Island Dr
Memphis, TN | Mud Island
1 Bedroom
$1,135
802 sqft
2 Bedrooms
$1,515
1190 sqft
3 Bedrooms
$1,995
1385 sqft
Last updated September 24 at 12:20 AM
The Lifestyle Youve Been Looking For. DOWNTOWN LIVING AT ITS FINEST. The newest luxury apartments located on beautiful Mud Island in downtown Memphi
Verified
4 Units Available
The Lofts At Union Alley
110 Barboro Alley
Memphis, TN | The Core
Studio
Ask
1 Bedroom
$950
833 sqft
Last updated September 24 at 12:20 AM
The ambitious restoration of the Union Alley building, originally built in 1901, has created one of the most attractive locations in Memphis: The Lofts at Union Alley.
Verified
1 Unit Available
Beverly Springs
2879 Beverly Hills Road #27
Memphis, TN
2 Bedrooms
$630
860 sqft
3 Bedrooms
Ask
Last updated September 24 at 12:16 AM
Experience a relaxing lifestyle at Beverly Springs. Our quaint apartment community is located in Memphis, Tennessee. A variety of restaurants, shopping centers, and parks are only minutes away.
Verified
5 Units Available
Crossings at Fox Meadows
2894 Putting Green Cv
Memphis, TN | Fox Meadows
1 Bedroom
Ask
2 Bedrooms
$850
1004 sqft
3 Bedrooms
Ask
Last updated September 24 at 12:16 AM
Stop by Crossings at Fox Meadows Apartments today to find the perfect place to call home! If you are searching for an inviting one, two, or three bedroom apartment or townhome, Crossings at Fox Meadows Apartments has what you're looking for! Every
Verified
172 Units Available
Hickory Grove
6277 Lake Arbor Dr
Memphis, TN | Hickory Hill
1 Bedroom
$540
776 sqft
2 Bedrooms
$730
1045 sqft
3 Bedrooms
$810
1302 sqft
Last updated September 24 at 12:15 AM
One-, two- and three-bedroom apartments with vaulted ceilings, wood-burning fireplaces and washer/dryer connections. Gated community has two outdoor pools, fitness center, sand volleyball court and movie theater.
Verified
26 Units Available
Ten Mile Creek
2718 Claudette Rd
Memphis, TN | Parkway Village
1 Bedroom
$515
750 sqft
2 Bedrooms
$600
1005 sqft
3 Bedrooms
$680
1434 sqft
Last updated September 24 at 12:14 AM
At Ten Mile Creek there is a perfect home waiting for you. We offer spacious one, two and three bedroom apartments with walk-in closets, ceiling fans, washer/dryer hook ups, window coverings, intrusion alarms and upgraded countertops.
Verified
4 Units Available
Covington Hills
4800 Raleigh Lagrange Rd
Memphis, TN
1 Bedroom
Ask
2 Bedrooms
$745
972 sqft
3 Bedrooms
Ask
Last updated September 24 at 12:13 AM
Welcome home! Covington Hills is a newly renovated community nestled in the charming city of Memphis, Tennessee. Our prime location offers easy access to local freeways, highways, and you are just minutes away from Golf and Games Family Park.
Verified
14 Units Available
Gayoso House
130 S Front St
Memphis, TN | The Core
Studio
Ask
1 Bedroom
$1,050
650 sqft
2 Bedrooms
$1,500
920 sqft
Last updated September 24 at 12:09 AM
The Apartments at Peabody Place featuring Gayoso House is located in the heart of downtown's historic block in Memphis, TN.
Verified
7 Units Available
Jamesbridge Apartments
3815 N Advantage Way Dr
Memphis, TN | Springhill Community Civic Club
1 Bedroom
$581
683 sqft
2 Bedrooms
$666
901 sqft
Last updated September 24 at 12:09 AM
Jamesbridge is a unique community with 2 lakes stocked with fish. The community has 3 beautiful bridges to fish from. The community is located close to Interstate 240 for easy access.
Verified
2 Units Available
Merton Manor
197 North Merton Street #1B
Memphis, TN | Binghampton-Lester
2 Bedrooms
$650
950 sqft
3 Bedrooms
Ask
Last updated September 24 at 12:07 AM
Welcome to Merton Manor Apartments located in Memphis, Tennessee!
Verified
6 Units Available
Harbor Island Apartments and Townhomes
444 Island Dr
Memphis, TN | Mud Island
1 Bedroom
$1,335
840 sqft
2 Bedrooms
$1,750
1183 sqft
3 Bedrooms
Ask
Last updated September 24 at 12:07 AM
The Lifestyle Youve Been Looking For
Verified
21 Units Available
Ashton Hills
4183 Troost Drive
Memphis, TN | Springhill Community Civic Club
1 Bedroom
Ask
2 Bedrooms
$600
784 sqft
3 Bedrooms
$700
1044 sqft
Last updated September 24 at 12:03 AM
Find studio, 1, 2 and 3 bedroom apartments for rent at Ashton Hills in Memphis. View photos, descriptions and more!
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Find an apartment for rent in Memphis, TN

Searching for an apartment for rent in Memphis, TN? Look no further! Apartment List will help you find a perfect apartment near you. There are 394 available rental units listed on Apartment List in Memphis. Click on listings to see photos, floorplans, amenities, prices and availability, and much more!

The median rent in Memphis is $637 for a studio, $712 for a one-bedroom apartment, and $841 for a two-bedroom apartment. If you are looking for a deal, keep an eye out for a red pulsing icon that indicates rent specials.

Tired of browsing? Take our personalized quiz. You’ll answer a couple of simple questions and we’ll put together a list of Memphis apartments that are best for you. We’ll also factor in your commute, budget, and preferred amenities. Looking for a pet-friendly rental, or an apartment with in-unit washer and dryer? No problem, we’ll provide you with apartments that match that criteria.

You can trust ApartmentList.com to help you find your next Memphis, TN apartment rental! After all, everyone deserves a home they love.
Frequently Asked Questions (FAQs)
Frequently Asked Questions
How much is rent in Memphis?
In Memphis, the median rent is $637 for a studio, $712 for a 1-bedroom, $841 for a 2-bedroom, and $1,144 for a 3-bedroom. For more information on rental trends in Memphis, check out our monthly Memphis Rent Report.
How much is rent in Memphis?
In Memphis, the median rent is $637 for a studio, $712 for a 1-bedroom, $841 for a 2-bedroom, and $1,144 for a 3-bedroom. For more information on rental trends in Memphis, check out our monthly Memphis Rent Report.
How can I find a cheap apartment in Memphis?
You can filter cheap apartments in Memphis by price: under $800, under $700, under $600, under $500.
How can I find a cheap apartment in Memphis?
You can filter cheap apartments in Memphis by price: under $800, under $700, under $600, under $500.
How can I find a pet-friendly apartment in Memphis?
You can use the pet-friendly filter to find Memphis apartments that allow pets.
How can I find a pet-friendly apartment in Memphis?
You can use the pet-friendly filter to find Memphis apartments that allow pets.
How can I tour apartments during the COVID-19 pandemic?
While some Memphis properties may not allow visitors at this time, most are open for business by phone or email. Please reach out to them directly for virtual touring options. Additionally, some properties may offer video and 3D tours, which can be found on the listing details page.
How can I tour apartments during the COVID-19 pandemic?
While some Memphis properties may not allow visitors at this time, most are open for business by phone or email. Please reach out to them directly for virtual touring options. Additionally, some properties may offer video and 3D tours, which can be found on the listing details page.
How much should I pay for rent in Memphis?
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.
How much should I pay for rent in Memphis?
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.
How can I find off-campus housing in Memphis?
You can use the off-campus housing filters to find apartments near colleges located in or around Memphis. Some of the colleges and universities in the area include Baptist Memorial College of Health Sciences, The University of Tennessee-Health Science Center, Christian Brothers University, University of Memphis, and Southwest Tennessee Community College.
How can I find off-campus housing in Memphis?
You can use the off-campus housing filters to find apartments near colleges located in or around Memphis. Some of the colleges and universities in the area include Baptist Memorial College of Health Sciences, The University of Tennessee-Health Science Center, Christian Brothers University, University of Memphis, and Southwest Tennessee Community College.

Median Rent in Memphis

Last updated Aug. 2020
The median rent for a 1 bedroom apartment in Memphis is $712, while the median rent for a 2 bedroom apartment is $841.
Studio
$637
1 Bed
$712
2 Beds
$841
3+ Beds
$1,144
City GuideMemphis
There's a town that I call home, where all the streets are paved with soul. Down on Beale there's a honky-tonk bar, so hear the wail of a blues guitar. Have a beer and drop a dime in the blind man's jar. The blues sing softly in the air, like a Sunday morning prayer. Just one more drink and you'll see God everywhere. Like a sad old melody that cheers you up, it sets you free. And that's how Memphis lives in me." (-Bon Jovi, "Memphis Lives In Me").
There's a town that I call home, where all the streets are paved with soul. Down on Beale there's a honky-tonk bar, so hear the wail of a blues guitar. Have a beer and drop a dime in the blind man's jar. The blues sing softly in the air, like a Sunday morning prayer. Just one more drink and you'll see God everywhere. Like a sad old melody that cheers you up, it sets you free. And that's how Memphis lives in me." (-Bon Jovi, "Memphis Lives In Me").

Memphis Tennessee is an iconic place in so many ways. It's the birthplace of the blues, soul, and that just-about-to-catch-on musical genre called Rock and Roll. It is the epicenter of many food debates with restaurants like Gus's Hot & Spicy Chicken and Charles Vergos' Rendezvous always topping the lists of the country's best fried chicken and ribs respectively, and actual tourist destinations unto themselves. Memphis is where your overnight package will spend a couple of hours at the worldwide hub for FedEx. And in Memphis you can plant your feet on the doormat of the second most visited home in the world. They even let you go in. No, not my Aunt Peg's (who does make some mean biscuits and sweet tea, which is reason alone to visit), but Elvis's - the King himself. Add the majesty of the Mississippi River, the NBA's coyly named Memphis Grizzlies (the nearest grizzly bear roams a brisk 1,600 miles away, but the Memphis Zoo does have a set of twins), and the neon festooned nightlife of world famous Beale Street, and you've found yourself in an unmistakably multifaceted city. Now time to find an unmistakably awesome apartment.

Elvis Tiger to celebrate The King

St. Mary's Episcopal Church is an incredible architectural masterpiece

Tom Lee Park sits adjacent to the Mississippi River

Renting in Memphis

As the 19th most populous city in the U.S., the rental market in Memphis should not be overly difficult or expensive to navigate. Like most places, choose wisely as even abutting sections can vary so widely in demographics.

Brokers: There is no need at all to pay for apartment locating in a city such as Memphis. While not as prolific as in other cities, there are, in fact, free apartment locating companies that will provide lists based on your needs and desired amenities. Doing a healthy dose of self-exploration is rewarding as well as you get to know the city as a whole as opposed to making its acquaintance via email.

What to have in your apartment hunting attaché case:

• your last several pay stubs or your last two tax returns

• picture I.D.

• application fee of around $50 for an apartment complex, often $0 for a smaller building

• willingness to sign a 6 - 15 month lease (best incentives on longer leases in complexes)

If you don't have a W2, proof of regular pay, or up-to-date tax documents, remember, most Memphis apartment complexes do not consider bank statements as a means to verify your creditworthiness. If you don't have a picture I.D., well, you're either seven years old or a vampire. Either way, you're probably not looking for an apartment. If you have a pet, check first and always ask about breed restrictions. Many apartment complexes welcome Fido and Mittens so long as Fido isn't a pit bull and Mittens isn't a leopard, but they also welcome them with one-time, non-refundable pet fees ($300 - $500 total) and almost always additional, recurring pet rent of $10 - $30 per month. In privately owned units, pets are not often welcomed, but when they are, it is usually at no additional charge. On the upside, the Memphis apartment market has relatively low security deposits of, generally, $200 - $300 (sometimes even lower) regardless of size or location for complexes, while higher deposits are closer the norm for others.

Renting in Memphis
+

As the 19th most populous city in the U.S., the rental market in Memphis should not be overly difficult or expensive to navigate. Like most places, choose wisely as even abutting sections can vary so widely in demographics.

Brokers: There is no need at all to pay for apartment locating in a city such as Memphis. While not as prolific as in other cities, there are, in fact, free apartment locating companies that will provide lists based on your needs and desired amenities. Doing a healthy dose of self-exploration is rewarding as well as you get to know the city as a whole as opposed to making its acquaintance via email.

What to have in your apartment hunting attaché case:

• your last several pay stubs or your last two tax returns

• picture I.D.

• application fee of around $50 for an apartment complex, often $0 for a smaller building

• willingness to sign a 6 - 15 month lease (best incentives on longer leases in complexes)

If you don't have a W2, proof of regular pay, or up-to-date tax documents, remember, most Memphis apartment complexes do not consider bank statements as a means to verify your creditworthiness. If you don't have a picture I.D., well, you're either seven years old or a vampire. Either way, you're probably not looking for an apartment. If you have a pet, check first and always ask about breed restrictions. Many apartment complexes welcome Fido and Mittens so long as Fido isn't a pit bull and Mittens isn't a leopard, but they also welcome them with one-time, non-refundable pet fees ($300 - $500 total) and almost always additional, recurring pet rent of $10 - $30 per month. In privately owned units, pets are not often welcomed, but when they are, it is usually at no additional charge. On the upside, the Memphis apartment market has relatively low security deposits of, generally, $200 - $300 (sometimes even lower) regardless of size or location for complexes, while higher deposits are closer the norm for others.

Memphis Neighborhoods

It comes down to the three basic disco-oriented checkboxes of life: The Hustle, Funky Town, or We Are Family... in other words, nightlife (Downtown), the ethnic/artsy/cultural vibe (Midtown including Overton Square and Cooper-Young), or more the carpool and soccer ball scene (East burbs).

Downtown: One of the most renowned spots for American nightlife is Downtown Memphis with Beale Street being the undisputed nucleus therein. With the most dining choices, views of the river, The FedEx center for sports, concerts, and cultural must-haves of rodeo and monster truck jams, Downtown Memphis is the choice for those wishing for the fast paced River City lifestyle. The MATA (Memphis Area Transit Association) trolley runs downtown and can get you to and fro with, well, not so much timeliness but with quaintness. If you live and work downtown, you can consider ridding yourself of your automobile, but parking isn't a super hassle and traffic in the grid layout is considered marginally better than other major metropolitan areas. The highest Memphis rents are Downtown, specifically in the entertainment and business districts, and close to the river. In these sections, expect to pay approximately $900 for a low rise 1 BR nearby, or around $1,300 for the most luxurious 1 BR in the most sought after central high rises. Add around $450 per month for a 2 BR. If you want to be downtown, out of earshot of the blues, and pay a couple hundred dollars less each month, take a look at the upscale Harbor Town area, historic Victorian Village, or the even more affordable Medical District community (in between Downtown and Midtown - called C Crosstown).

Midtown: Home to several institutes of higher learning including Christian Brothers University, Memphis College of Art, Memphis Theological Seminary, Rhodes College, and Victory University as well as some cultural venues such as Overton Park, The Levitt Shell (outdoor concert venue and site of Elvis's first paid appearance in 1954), Memphis Brooks Museum of Art, Memphis Zoo, and The Old Forest Arboretum, Midtown Memphis has earned the tagline “Midtown IS Memphis.” Midtown is ethnic, diverse, and what its residents consider the real Memphis. Overton Square is the home of the unsuspectingly busy Memphis theatre scene. In Cooper-Young you will find the most eclectic mix of restaurants and entertainment venues including the Elvis Impersonator Shrine (note: Replica Elvis rhinestone jumpsuits - made to original specifications and by original manufacturer start at $3,000 - so plan accordingly). In these exciting Midtown neighborhoods, expect to pay about half of that of most upscale downtown apartments.

East of the City: Communities such as Bartlett, Collierville, and Germantown are considered close to the heart of Downtown Memphis ~ 20 miles on average. Malls, chain restaurants, ball fields, places of worship, and the occasional boutique, wine bar, and pet spa dot the landscape East of Memphis. Rents in these neighborhoods are comparable to Midtown and larger apartments are easier to find due to the larger number of families seeking their homes in these places.

Graceland: Elvis fan, huh? Nice try, Graceland isn't so much residential these days as it is highly touristed with budget lodgings and fast food outlets. On the upside, if you regularly desire a restaurant-made version of Elvis's favorite sandwich - Peanut Butter, Banana, and Bacon, Graceland living may just suit you.

Memphis Neighborhoods
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It comes down to the three basic disco-oriented checkboxes of life: The Hustle, Funky Town, or We Are Family... in other words, nightlife (Downtown), the ethnic/artsy/cultural vibe (Midtown including Overton Square and Cooper-Young), or more the carpool and soccer ball scene (East burbs).

Downtown: One of the most renowned spots for American nightlife is Downtown Memphis with Beale Street being the undisputed nucleus therein. With the most dining choices, views of the river, The FedEx center for sports, concerts, and cultural must-haves of rodeo and monster truck jams, Downtown Memphis is the choice for those wishing for the fast paced River City lifestyle. The MATA (Memphis Area Transit Association) trolley runs downtown and can get you to and fro with, well, not so much timeliness but with quaintness. If you live and work downtown, you can consider ridding yourself of your automobile, but parking isn't a super hassle and traffic in the grid layout is considered marginally better than other major metropolitan areas. The highest Memphis rents are Downtown, specifically in the entertainment and business districts, and close to the river. In these sections, expect to pay approximately $900 for a low rise 1 BR nearby, or around $1,300 for the most luxurious 1 BR in the most sought after central high rises. Add around $450 per month for a 2 BR. If you want to be downtown, out of earshot of the blues, and pay a couple hundred dollars less each month, take a look at the upscale Harbor Town area, historic Victorian Village, or the even more affordable Medical District community (in between Downtown and Midtown - called C Crosstown).

Midtown: Home to several institutes of higher learning including Christian Brothers University, Memphis College of Art, Memphis Theological Seminary, Rhodes College, and Victory University as well as some cultural venues such as Overton Park, The Levitt Shell (outdoor concert venue and site of Elvis's first paid appearance in 1954), Memphis Brooks Museum of Art, Memphis Zoo, and The Old Forest Arboretum, Midtown Memphis has earned the tagline “Midtown IS Memphis.” Midtown is ethnic, diverse, and what its residents consider the real Memphis. Overton Square is the home of the unsuspectingly busy Memphis theatre scene. In Cooper-Young you will find the most eclectic mix of restaurants and entertainment venues including the Elvis Impersonator Shrine (note: Replica Elvis rhinestone jumpsuits - made to original specifications and by original manufacturer start at $3,000 - so plan accordingly). In these exciting Midtown neighborhoods, expect to pay about half of that of most upscale downtown apartments.

East of the City: Communities such as Bartlett, Collierville, and Germantown are considered close to the heart of Downtown Memphis ~ 20 miles on average. Malls, chain restaurants, ball fields, places of worship, and the occasional boutique, wine bar, and pet spa dot the landscape East of Memphis. Rents in these neighborhoods are comparable to Midtown and larger apartments are easier to find due to the larger number of families seeking their homes in these places.

Graceland: Elvis fan, huh? Nice try, Graceland isn't so much residential these days as it is highly touristed with budget lodgings and fast food outlets. On the upside, if you regularly desire a restaurant-made version of Elvis's favorite sandwich - Peanut Butter, Banana, and Bacon, Graceland living may just suit you.

Okay, now what?

Memphis is not a particularly large city, nor is it particularly difficult to navigate. Its lack of a subway or light rail system means you'll probably want to keep your car if you already have one - except if you live and work downtown as mentioned. Beale Street is smaller than you'd think but steeped in American musical roots and is lively all night, every night. Now go do the Elvis thing once at least, see the ducks at The Peabody Hotel once eat the BBQ, many, many times,... but those ducks are just so cute, okay, so once isn't enough, and, of course, without question, take the Mud Island Monorail and pretend you're Tom Cruise being chased in The Firm.

Okay, now what?
+

Memphis is not a particularly large city, nor is it particularly difficult to navigate. Its lack of a subway or light rail system means you'll probably want to keep your car if you already have one - except if you live and work downtown as mentioned. Beale Street is smaller than you'd think but steeped in American musical roots and is lively all night, every night. Now go do the Elvis thing once at least, see the ducks at The Peabody Hotel once eat the BBQ, many, many times,... but those ducks are just so cute, okay, so once isn't enough, and, of course, without question, take the Mud Island Monorail and pretend you're Tom Cruise being chased in The Firm.

Read More
City GuideMemphis
There's a town that I call home, where all the streets are paved with soul. Down on Beale there's a honky-tonk bar, so hear the wail of a blues guitar. Have a beer and drop a dime in the blind man's jar. The blues sing softly in the air, like a Sunday morning prayer. Just one more drink and you'll see God everywhere. Like a sad old melody that cheers you up, it sets you free. And that's how Memphis lives in me." (-Bon Jovi, "Memphis Lives In Me").
There's a town that I call home, where all the streets are paved with soul. Down on Beale there's a honky-tonk bar, so hear the wail of a blues guitar. Have a beer and drop a dime in the blind man's jar. The blues sing softly in the air, like a Sunday morning prayer. Just one more drink and you'll see God everywhere. Like a sad old melody that cheers you up, it sets you free. And that's how Memphis lives in me." (-Bon Jovi, "Memphis Lives In Me").

Memphis Tennessee is an iconic place in so many ways. It's the birthplace of the blues, soul, and that just-about-to-catch-on musical genre called Rock and Roll. It is the epicenter of many food debates with restaurants like Gus's Hot & Spicy Chicken and Charles Vergos' Rendezvous always topping the lists of the country's best fried chicken and ribs respectively, and actual tourist destinations unto themselves. Memphis is where your overnight package will spend a couple of hours at the worldwide hub for FedEx. And in Memphis you can plant your feet on the doormat of the second most visited home in the world. They even let you go in. No, not my Aunt Peg's (who does make some mean biscuits and sweet tea, which is reason alone to visit), but Elvis's - the King himself. Add the majesty of the Mississippi River, the NBA's coyly named Memphis Grizzlies (the nearest grizzly bear roams a brisk 1,600 miles away, but the Memphis Zoo does have a set of twins), and the neon festooned nightlife of world famous Beale Street, and you've found yourself in an unmistakably multifaceted city. Now time to find an unmistakably awesome apartment.

Elvis Tiger to celebrate The King

St. Mary's Episcopal Church is an incredible architectural masterpiece

Tom Lee Park sits adjacent to the Mississippi River

Renting in Memphis

As the 19th most populous city in the U.S., the rental market in Memphis should not be overly difficult or expensive to navigate. Like most places, choose wisely as even abutting sections can vary so widely in demographics.

Brokers: There is no need at all to pay for apartment locating in a city such as Memphis. While not as prolific as in other cities, there are, in fact, free apartment locating companies that will provide lists based on your needs and desired amenities. Doing a healthy dose of self-exploration is rewarding as well as you get to know the city as a whole as opposed to making its acquaintance via email.

What to have in your apartment hunting attaché case:

• your last several pay stubs or your last two tax returns

• picture I.D.

• application fee of around $50 for an apartment complex, often $0 for a smaller building

• willingness to sign a 6 - 15 month lease (best incentives on longer leases in complexes)

If you don't have a W2, proof of regular pay, or up-to-date tax documents, remember, most Memphis apartment complexes do not consider bank statements as a means to verify your creditworthiness. If you don't have a picture I.D., well, you're either seven years old or a vampire. Either way, you're probably not looking for an apartment. If you have a pet, check first and always ask about breed restrictions. Many apartment complexes welcome Fido and Mittens so long as Fido isn't a pit bull and Mittens isn't a leopard, but they also welcome them with one-time, non-refundable pet fees ($300 - $500 total) and almost always additional, recurring pet rent of $10 - $30 per month. In privately owned units, pets are not often welcomed, but when they are, it is usually at no additional charge. On the upside, the Memphis apartment market has relatively low security deposits of, generally, $200 - $300 (sometimes even lower) regardless of size or location for complexes, while higher deposits are closer the norm for others.

Renting in Memphis
+

As the 19th most populous city in the U.S., the rental market in Memphis should not be overly difficult or expensive to navigate. Like most places, choose wisely as even abutting sections can vary so widely in demographics.

Brokers: There is no need at all to pay for apartment locating in a city such as Memphis. While not as prolific as in other cities, there are, in fact, free apartment locating companies that will provide lists based on your needs and desired amenities. Doing a healthy dose of self-exploration is rewarding as well as you get to know the city as a whole as opposed to making its acquaintance via email.

What to have in your apartment hunting attaché case:

• your last several pay stubs or your last two tax returns

• picture I.D.

• application fee of around $50 for an apartment complex, often $0 for a smaller building

• willingness to sign a 6 - 15 month lease (best incentives on longer leases in complexes)

If you don't have a W2, proof of regular pay, or up-to-date tax documents, remember, most Memphis apartment complexes do not consider bank statements as a means to verify your creditworthiness. If you don't have a picture I.D., well, you're either seven years old or a vampire. Either way, you're probably not looking for an apartment. If you have a pet, check first and always ask about breed restrictions. Many apartment complexes welcome Fido and Mittens so long as Fido isn't a pit bull and Mittens isn't a leopard, but they also welcome them with one-time, non-refundable pet fees ($300 - $500 total) and almost always additional, recurring pet rent of $10 - $30 per month. In privately owned units, pets are not often welcomed, but when they are, it is usually at no additional charge. On the upside, the Memphis apartment market has relatively low security deposits of, generally, $200 - $300 (sometimes even lower) regardless of size or location for complexes, while higher deposits are closer the norm for others.

Memphis Neighborhoods

It comes down to the three basic disco-oriented checkboxes of life: The Hustle, Funky Town, or We Are Family... in other words, nightlife (Downtown), the ethnic/artsy/cultural vibe (Midtown including Overton Square and Cooper-Young), or more the carpool and soccer ball scene (East burbs).

Downtown: One of the most renowned spots for American nightlife is Downtown Memphis with Beale Street being the undisputed nucleus therein. With the most dining choices, views of the river, The FedEx center for sports, concerts, and cultural must-haves of rodeo and monster truck jams, Downtown Memphis is the choice for those wishing for the fast paced River City lifestyle. The MATA (Memphis Area Transit Association) trolley runs downtown and can get you to and fro with, well, not so much timeliness but with quaintness. If you live and work downtown, you can consider ridding yourself of your automobile, but parking isn't a super hassle and traffic in the grid layout is considered marginally better than other major metropolitan areas. The highest Memphis rents are Downtown, specifically in the entertainment and business districts, and close to the river. In these sections, expect to pay approximately $900 for a low rise 1 BR nearby, or around $1,300 for the most luxurious 1 BR in the most sought after central high rises. Add around $450 per month for a 2 BR. If you want to be downtown, out of earshot of the blues, and pay a couple hundred dollars less each month, take a look at the upscale Harbor Town area, historic Victorian Village, or the even more affordable Medical District community (in between Downtown and Midtown - called C Crosstown).

Midtown: Home to several institutes of higher learning including Christian Brothers University, Memphis College of Art, Memphis Theological Seminary, Rhodes College, and Victory University as well as some cultural venues such as Overton Park, The Levitt Shell (outdoor concert venue and site of Elvis's first paid appearance in 1954), Memphis Brooks Museum of Art, Memphis Zoo, and The Old Forest Arboretum, Midtown Memphis has earned the tagline “Midtown IS Memphis.” Midtown is ethnic, diverse, and what its residents consider the real Memphis. Overton Square is the home of the unsuspectingly busy Memphis theatre scene. In Cooper-Young you will find the most eclectic mix of restaurants and entertainment venues including the Elvis Impersonator Shrine (note: Replica Elvis rhinestone jumpsuits - made to original specifications and by original manufacturer start at $3,000 - so plan accordingly). In these exciting Midtown neighborhoods, expect to pay about half of that of most upscale downtown apartments.

East of the City: Communities such as Bartlett, Collierville, and Germantown are considered close to the heart of Downtown Memphis ~ 20 miles on average. Malls, chain restaurants, ball fields, places of worship, and the occasional boutique, wine bar, and pet spa dot the landscape East of Memphis. Rents in these neighborhoods are comparable to Midtown and larger apartments are easier to find due to the larger number of families seeking their homes in these places.

Graceland: Elvis fan, huh? Nice try, Graceland isn't so much residential these days as it is highly touristed with budget lodgings and fast food outlets. On the upside, if you regularly desire a restaurant-made version of Elvis's favorite sandwich - Peanut Butter, Banana, and Bacon, Graceland living may just suit you.

Memphis Neighborhoods
+

It comes down to the three basic disco-oriented checkboxes of life: The Hustle, Funky Town, or We Are Family... in other words, nightlife (Downtown), the ethnic/artsy/cultural vibe (Midtown including Overton Square and Cooper-Young), or more the carpool and soccer ball scene (East burbs).

Downtown: One of the most renowned spots for American nightlife is Downtown Memphis with Beale Street being the undisputed nucleus therein. With the most dining choices, views of the river, The FedEx center for sports, concerts, and cultural must-haves of rodeo and monster truck jams, Downtown Memphis is the choice for those wishing for the fast paced River City lifestyle. The MATA (Memphis Area Transit Association) trolley runs downtown and can get you to and fro with, well, not so much timeliness but with quaintness. If you live and work downtown, you can consider ridding yourself of your automobile, but parking isn't a super hassle and traffic in the grid layout is considered marginally better than other major metropolitan areas. The highest Memphis rents are Downtown, specifically in the entertainment and business districts, and close to the river. In these sections, expect to pay approximately $900 for a low rise 1 BR nearby, or around $1,300 for the most luxurious 1 BR in the most sought after central high rises. Add around $450 per month for a 2 BR. If you want to be downtown, out of earshot of the blues, and pay a couple hundred dollars less each month, take a look at the upscale Harbor Town area, historic Victorian Village, or the even more affordable Medical District community (in between Downtown and Midtown - called C Crosstown).

Midtown: Home to several institutes of higher learning including Christian Brothers University, Memphis College of Art, Memphis Theological Seminary, Rhodes College, and Victory University as well as some cultural venues such as Overton Park, The Levitt Shell (outdoor concert venue and site of Elvis's first paid appearance in 1954), Memphis Brooks Museum of Art, Memphis Zoo, and The Old Forest Arboretum, Midtown Memphis has earned the tagline “Midtown IS Memphis.” Midtown is ethnic, diverse, and what its residents consider the real Memphis. Overton Square is the home of the unsuspectingly busy Memphis theatre scene. In Cooper-Young you will find the most eclectic mix of restaurants and entertainment venues including the Elvis Impersonator Shrine (note: Replica Elvis rhinestone jumpsuits - made to original specifications and by original manufacturer start at $3,000 - so plan accordingly). In these exciting Midtown neighborhoods, expect to pay about half of that of most upscale downtown apartments.

East of the City: Communities such as Bartlett, Collierville, and Germantown are considered close to the heart of Downtown Memphis ~ 20 miles on average. Malls, chain restaurants, ball fields, places of worship, and the occasional boutique, wine bar, and pet spa dot the landscape East of Memphis. Rents in these neighborhoods are comparable to Midtown and larger apartments are easier to find due to the larger number of families seeking their homes in these places.

Graceland: Elvis fan, huh? Nice try, Graceland isn't so much residential these days as it is highly touristed with budget lodgings and fast food outlets. On the upside, if you regularly desire a restaurant-made version of Elvis's favorite sandwich - Peanut Butter, Banana, and Bacon, Graceland living may just suit you.

Okay, now what?

Memphis is not a particularly large city, nor is it particularly difficult to navigate. Its lack of a subway or light rail system means you'll probably want to keep your car if you already have one - except if you live and work downtown as mentioned. Beale Street is smaller than you'd think but steeped in American musical roots and is lively all night, every night. Now go do the Elvis thing once at least, see the ducks at The Peabody Hotel once eat the BBQ, many, many times,... but those ducks are just so cute, okay, so once isn't enough, and, of course, without question, take the Mud Island Monorail and pretend you're Tom Cruise being chased in The Firm.

Okay, now what?
+

Memphis is not a particularly large city, nor is it particularly difficult to navigate. Its lack of a subway or light rail system means you'll probably want to keep your car if you already have one - except if you live and work downtown as mentioned. Beale Street is smaller than you'd think but steeped in American musical roots and is lively all night, every night. Now go do the Elvis thing once at least, see the ducks at The Peabody Hotel once eat the BBQ, many, many times,... but those ducks are just so cute, okay, so once isn't enough, and, of course, without question, take the Mud Island Monorail and pretend you're Tom Cruise being chased in The Firm.

Rent Report
Memphis

September 2020 Memphis Rent Report

Welcome to the September 2020 Memphis Rent Report. Memphis rents increased over the past month. In this report, we'll evaluate trends in the Memphis rental market, including comparisons to cities throughout the state and nation.

Memphis rents increased significantly over the past month

Memphis rents have increased 0.4% over the past month, and are up slightly by 1.2% in comparison to the same time last year. Currently, median rents in Memphis stand at $712 for a one-bedroom apartment and $842 for a two-bedroom. This is the third straight month that the city has seen rent increases after a decline in May. Memphis' year-over-year rent growth is on par with the state average of 1.2%, but exceeds the national average of 0.3%.

    Rents rising across cities in the Memphis Metro

    Throughout the past year, rent increases have been occurring not just in the city of Memphis, but across the entire metro. Of the largest 10 cities that we have data for in the Memphis metro, 9 of them have seen prices rise. Tennessee as a whole logged rent growth of 1.2% over the past year. Here's a look at how rents compare across some of the largest cities in the metro.

    • Looking throughout the metro, Franklin is the most expensive of all Memphis metro's major cities, with a median two-bedroom rent of $1,337; of the 10 largest cities in the metro that we have data for, Murfreesboro, where a two-bedroom goes for $1,150, is the only major city to see rents fall year-over-year (-0.4%).
    • Southaven, Johnson City, and Clarksville have all experienced year-over-year growth above the state average (4.7%, 4.0%, and 3.5%, respectively).

    Memphis rents more affordable than many other large cities nationwide

    As rents have increased slightly in Memphis, other large cities nationwide have seen rents grow more quickly. Memphis is still more affordable than most comparable cities across the country.

    • Memphis' median two-bedroom rent of $842 is below the national average of $1,195. Nationwide, rents have held steady over the past year.
    • While Memphis' rents rose slightly over the past year, some cities nationwide saw increases as well, including Phoenix (+1.7%) and Detroit (+0.8%).
    • Renters will find more reasonable prices in Memphis than most similar cities. For example, San Francisco has a median 2BR rent of $2,956, which is more than three-and-a-half times the price in Memphis.

    For more information check out our national report. You can also access our full data for cities and counties across the U.S. at this link.

    Methodology - Recent Updates:

    Data from private listing sites, including our own, tends to skew toward luxury apartments, which introduces sample bias when estimates are calculated directly from these listings. To address these limitations, we’ve recently made major updates to our methodology, which we believe have greatly improved the accuracy and reliability of our estimates.

    Read more about our new methodology below, or see a more detailed post here.

    Methodology:

    Apartment List is committed to making our rent estimates the best and most accurate available. To do this, we start with reliable median rent statistics from the Census Bureau, then extrapolate them forward to the current month using a growth rate calculated from our listing data. In doing so, we use a same-unit analysis similar to Case-Shiller’s approach, comparing only units that are available across both time periods to provide an accurate picture of rent growth in cities across the country.

    Our approach corrects for the sample bias inherent in other private sources, producing results that are much closer to statistics published by the Census Bureau and HUD. Our methodology also allows us to construct a picture of rent growth over an extended period of time, with estimates that are updated each month.

    Read more about our methodology here.

    About Rent Reports:

    Apartment List publishes monthly reports on rental trends for hundreds of cities across the U.S. We intend these reports to be a source of reliable information that help renters and policymakers make sound decisions, and we invest significant time and effort in gathering and analyzing rent data. Our work is covered regularly by journalists across the country.

    We are continuously working to improve our methodology and data, with the goal of providing renters with the information that they need to make the best decisions.

    Read More

    September 2020 Memphis Rent Report

    Welcome to the September 2020 Memphis Rent Report. Memphis rents increased over the past month. In this report, we'll evaluate trends in the Memphis rental market, including comparisons to cities throughout the state and nation.

    View full Rent Report

    September 2020 Memphis Rent Report

    Welcome to the September 2020 Memphis Rent Report. Memphis rents increased over the past month. In this report, we'll evaluate trends in the Memphis rental market, including comparisons to cities throughout the state and nation.

    Memphis rents increased significantly over the past month

    Memphis rents have increased 0.4% over the past month, and are up slightly by 1.2% in comparison to the same time last year. Currently, median rents in Memphis stand at $712 for a one-bedroom apartment and $842 for a two-bedroom. This is the third straight month that the city has seen rent increases after a decline in May. Memphis' year-over-year rent growth is on par with the state average of 1.2%, but exceeds the national average of 0.3%.

      Rents rising across cities in the Memphis Metro

      Throughout the past year, rent increases have been occurring not just in the city of Memphis, but across the entire metro. Of the largest 10 cities that we have data for in the Memphis metro, 9 of them have seen prices rise. Tennessee as a whole logged rent growth of 1.2% over the past year. Here's a look at how rents compare across some of the largest cities in the metro.

      • Looking throughout the metro, Franklin is the most expensive of all Memphis metro's major cities, with a median two-bedroom rent of $1,337; of the 10 largest cities in the metro that we have data for, Murfreesboro, where a two-bedroom goes for $1,150, is the only major city to see rents fall year-over-year (-0.4%).
      • Southaven, Johnson City, and Clarksville have all experienced year-over-year growth above the state average (4.7%, 4.0%, and 3.5%, respectively).

      Memphis rents more affordable than many other large cities nationwide

      As rents have increased slightly in Memphis, other large cities nationwide have seen rents grow more quickly. Memphis is still more affordable than most comparable cities across the country.

      • Memphis' median two-bedroom rent of $842 is below the national average of $1,195. Nationwide, rents have held steady over the past year.
      • While Memphis' rents rose slightly over the past year, some cities nationwide saw increases as well, including Phoenix (+1.7%) and Detroit (+0.8%).
      • Renters will find more reasonable prices in Memphis than most similar cities. For example, San Francisco has a median 2BR rent of $2,956, which is more than three-and-a-half times the price in Memphis.

      For more information check out our national report. You can also access our full data for cities and counties across the U.S. at this link.

      Methodology - Recent Updates:

      Data from private listing sites, including our own, tends to skew toward luxury apartments, which introduces sample bias when estimates are calculated directly from these listings. To address these limitations, we’ve recently made major updates to our methodology, which we believe have greatly improved the accuracy and reliability of our estimates.

      Read more about our new methodology below, or see a more detailed post here.

      Methodology:

      Apartment List is committed to making our rent estimates the best and most accurate available. To do this, we start with reliable median rent statistics from the Census Bureau, then extrapolate them forward to the current month using a growth rate calculated from our listing data. In doing so, we use a same-unit analysis similar to Case-Shiller’s approach, comparing only units that are available across both time periods to provide an accurate picture of rent growth in cities across the country.

      Our approach corrects for the sample bias inherent in other private sources, producing results that are much closer to statistics published by the Census Bureau and HUD. Our methodology also allows us to construct a picture of rent growth over an extended period of time, with estimates that are updated each month.

      Read more about our methodology here.

      About Rent Reports:

      Apartment List publishes monthly reports on rental trends for hundreds of cities across the U.S. We intend these reports to be a source of reliable information that help renters and policymakers make sound decisions, and we invest significant time and effort in gathering and analyzing rent data. Our work is covered regularly by journalists across the country.

      We are continuously working to improve our methodology and data, with the goal of providing renters with the information that they need to make the best decisions.

      Memphis Renter Confidence Survey
      National study of renter’s satisfaction with their cities and states

      Here’s how Memphis ranks on:

      C
      Overall satisfaction
      D
      Jobs and career opportunities
      A
      Affordability
      D
      Social Life
      B
      Weather
      C
      Commute time
      C
      State and local taxes
      C+
      Pet-friendliness

      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 here.
      Read More

      Renter Confidence Survey

      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....

      View full Memphis Renter Survey

      Here’s how Memphis ranks on:

      C
      Overall satisfaction
      D
      Jobs and career opportunities
      A
      Affordability
      D
      Social Life
      B
      Weather
      C
      Commute time
      C
      State and local taxes
      C+
      Pet-friendliness

      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 here.