96 Apartments under 600 for rent in Memphis, TN

Last updated May 23 at 12:49pm UTC
2311 E. Warren St.
Alcy-Ball
Memphis, TN
Updated May 22 at 12:26pm UTC
1 Bedroom
$375
3429 Woodhollow Dr
Parkway Village
Memphis, TN
Updated May 20 at 9:36am UTC
2 Bedrooms
$550
1553 Harrison St.
Hollywood
Memphis, TN
Updated May 19 at 11:18am UTC
1 Bedroom
$450
1173 Vance Ave
New Pathways
Memphis, TN
Updated May 17 at 9:45am UTC
Studio
$500
3401 Range Line Rd
Alta Vista
Memphis, TN
Updated May 16 at 6:01pm UTC
2 Bedrooms
$525
2314 Brooklyn Ave
Castalia
Memphis, TN
Updated May 16 at 11:48am UTC
2 Bedrooms
$500
3754 Rockwood
Berclair - Highland Heights
Memphis, TN
Updated May 16 at 11:46am UTC
2 Bedrooms
$595
1225 Effie Rd
Sixty Point One Ward
Memphis, TN
Updated May 16 at 1:39am UTC
2 Bedrooms
$500
1227 Effie Rd
Sixty Point One Ward
Memphis, TN
Updated May 16 at 1:38am UTC
2 Bedrooms
$500
303 Edsel Avenue
Riverview Community Association
Memphis, TN
Updated May 15 at 12:42pm UTC
2 Bedrooms
$500
762 Patterson G
Normal Station
Memphis, TN
Updated May 15 at 12:38pm UTC
1 Bedroom
$550
3408 Pine Ridge Ln
Oakhaven
Memphis, TN
Updated May 15 at 1:48am UTC
2 Bedrooms
$500
1756 TN-3
North Memphis Concerned Citizens
Memphis, TN
Updated May 14 at 5:54pm UTC
Studio
$495
371 S Orleans St
New Pathways
Memphis, TN
Updated May 23 at 9:55am UTC
2 Bedrooms
$375
840 Chelsea Ave
Mid Inner City Association for Heritage
Memphis, TN
Updated May 22 at 8:40pm UTC
6 Bedrooms
$550
4495 Sumners Wells
Oakhaven
Memphis, TN
Updated May 18 at 10:45am UTC
2 Bedrooms
$500
Crockett St
Klondyke
Memphis, TN
Updated May 20 at 7:30am UTC
2 Bedrooms
$550
Harvester Lane
Frayser
Memphis, TN
Updated May 15 at 7:27am UTC
1 Bedroom
$595
4721 Brigidier St
Red Oaks
Memphis, TN
Updated May 23 at 9:56am UTC
2 Bedrooms
$525
1744 Chancery St
Red Oaks
Memphis, TN
Updated May 23 at 9:56am UTC
2 Bedrooms
$525
1752 Boxberry Ln
Red Oaks
Memphis, TN
Updated May 23 at 9:55am UTC
2 Bedrooms
$550
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May 2018 Memphis Rent Report

Welcome to the May 2018 Memphis Rent Report. Memphis rents remained steady 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 Memphis Rent Report
Rent Report
Memphis

May 2018 Memphis Rent Report

Welcome to the May 2018 Memphis Rent Report. Memphis rents remained steady 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 held steady over the past month

Memphis rents have remained flat over the past month, however, they are up marginally by 0.5% year-over-year. Currently, median rents in Memphis stand at $690 for a one-bedroom apartment and $820 for a two-bedroom. Memphis' year-over-year rent growth lags the state and national averages, which both stand at 1.5%.

Rents rising across cities in Tennessee

Throughout the past year, rent increases have been occurring not just in the city of Memphis, but across the entire state. Of the largest 10 cities that we have data for in Tennessee, all of them have seen prices rise. The state as a whole logged rent growth of 1.5% over the past year. Here's a look at how rents compare across some of the largest cities in the state.

  • Looking throughout the state, Franklin is the most expensive of all Tennessee's major cities, with a median two-bedroom rent of $1,270; of the 10 largest Tennessee cities that we have data for, all have seen rents rise year-over-year, with Hendersonville experiencing the fastest growth (+5.0%).
  • Knoxville, Smyrna, and Chattanooga have all experienced year-over-year growth above the state average (4.6%, 3.1%, and 2.5%, respectively).

Memphis rents more affordable than many other large cities nationwide

As rents have increased in Memphis, a few similar cities nationwide have also seen rents grow modestly. Memphis is still more affordable than most comparable cities across the country.

  • Memphis' median two-bedroom rent of $820 is below the national average of $1,170. Nationwide, rents have grown by 1.5% over the past year compared to the 0.5% rise in Memphis.
  • While Memphis' rents rose over the past year, many cities nationwide also saw increases, including Phoenix (+2.3%), Atlanta (+1.9%), and Denver (+1.6%).
  • Renters will find more reasonable prices in Memphis than most other large cities. For example, San Francisco has a median 2BR rent of $3,060, 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.