311 Apartments under 700 for rent in Memphis, TN

Last updated January 19 at 8:19am UTC
3430 Randolph St.
Frayser
Memphis, TN
Updated January 18 at 7:59pm UTC
3 Bedrooms
$625
1176 Maria
Berclair - Highland Heights
Memphis, TN
Updated January 3 at 3:50pm UTC
3 Bedrooms
$695
147 N. Evergreen Street
Midtown-Central
Memphis, TN
Updated January 3 at 3:50pm UTC
1 Bedroom
$575
1842 Keltner Cir
Magnolia Barksdale
Memphis, TN
Updated January 18 at 10:07am UTC
2 Bedrooms
$495
1025 Richert St
Hyde Park
Memphis, TN
Updated January 12 at 10:19am UTC
2 Bedrooms
$550
1951 Alta Vista
Alta Vista
Memphis, TN
Updated January 16 at 11:13am UTC
3 Bedrooms
$650
42 N Claybrook St
Medical District
Memphis, TN
Updated January 3 at 1:47am UTC
1 Bedroom
$550
4250 Westmont
Westwood
Memphis, TN
Updated January 3 at 3:40pm UTC
3 Bedrooms
$600
4277 Boyce Ave
Dunn Road Area Neighborhood Association
Memphis, TN
Updated January 3 at 3:48pm UTC
3 Bedrooms
$695
Deneen Dr
Memphis
Memphis, TN
Updated January 18 at 8:54am UTC
3 Bedrooms
$595
Brookline Rd
Berclair - Highland Heights
Memphis, TN
Updated January 15 at 8:17am UTC
2 Bedrooms
$675
Carson St
Messick Buntyn
Memphis, TN
Updated January 3 at 8:37am UTC
2 Bedrooms
$599
Mapletree Cv
Capleville
Memphis, TN
Updated January 3 at 8:37am UTC
2 Bedrooms
$695
Willow Wood Ave
Alta Vista
Memphis, TN
Updated January 4 at 9:04am UTC
3 Bedrooms
$675
3644 Trudy Cv
Memphis
Memphis, TN
Updated January 3 at 3:36pm UTC
3 Bedrooms
$650
Belfast Dr
Memphis
Memphis, TN
Updated January 4 at 9:05am UTC
3 Bedrooms
$650
1776 Chancery St
Red Oaks
Memphis, TN
Updated January 3 at 1:52am UTC
1 Bedroom
$475
Wooddale Ave
Parkway Village
Memphis, TN
Updated January 3 at 8:37am UTC
2 Bedrooms
$595
Ladue St
Hawkins Mill Residents Associtaion
Memphis, TN
Updated January 10 at 8:17am UTC
3 Bedrooms
$595
Apartment List detective logo

Keep Looking!

Try removing some filters or broadening your
search area to see more results.

Apartment List detective logo

Zoom in to see more.

Trying to get a feel for the larger area? No problem.
When you're ready, zoom in again to see pins and listings.

Apartment List sad heart

Something went wrong.

Please try your search again or reload the page.

January 2018 Memphis Rent Report

Welcome to the January 2018 Memphis Rent Report. Memphis rents declined 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

January 2018 Memphis Rent Report

Welcome to the January 2018 Memphis Rent Report. Memphis rents declined 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 declined over the past month

Memphis rents have declined 0.1% over the past month, but have increased slightly by 1.1% in comparison to the same time last year. Currently, median rents in Memphis stand at $690 for a one-bedroom apartment and $820 for a two-bedroom. This is the fourth straight month that the city has seen rent decreases after an increase in August. Memphis' year-over-year rent growth lags the state average of 1.7%, as well as the national average of 2.8%.

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, 7 of them have seen prices rise. The state as a whole logged rent growth of 1.7% 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 $1,260; of the 10 largest cities in Tennessee that we have data for, Nashville, Collierville, and Franklin, where two-bedrooms go for $1,110, $1,100, and $1,260, respectively, are the three major cities in the state to see rents fall year-over-year (-0.1%, -0.1%, and -0.1%).
  • Murfreesboro, Knoxville, and Southaven have all experienced year-over-year growth above the state average (6.2%, 3.6%, and 3.5%, respectively).

Memphis rents more affordable than many other large cities nationwide

As rents have increased slightly 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 $1,160. Nationwide, rents have grown by 2.8% over the past year compared to the 1.1% increase in Memphis.
  • While Memphis' rents rose slightly over the past year, many cities nationwide also saw increases, including Phoenix (+3.8%), Seattle (+3.0%), and Dallas (+2.2%).
  • Renters will find more reasonable prices in Memphis than most other large cities. For example, San Francisco has a median 2BR rent of $3,010, 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.