How much is the average rent in Memphis, TN for 1-bedroom and 2-bedroom apartments?

Memphis, Tennessee's 2025 rental market shows one-bedroom apartments averaging around $1,000 per month, while two-bedroom units also average around $1,000 per month. Both bedroom types experienced modest year-over-year changes, with one-bedrooms up 2.5% and two-bedrooms down 2.1% from 2024.

Are rents going up or down in Memphis, TN?

Overall, rent prices in Memphis have decreased by about 2%. Specifically, the cost for 1-bedroom apartments decreased slightly by less than 1%, and 2-bedroom apartments saw a decrease of about 2%.

When is the best time to look for an apartment in Memphis, TN?

December stands out as the optimal month for apartment hunting in Memphis, offering the lowest rents of the year and the least competition from other renters. July sees the highest rent while December provides approximately 5% savings compared to peak months, making winter searches particularly advantageous for budget-conscious renters.

What are the best neighborhoods to rent an apartment in Memphis, TN?

Memphis offers distinct neighborhood experiences depending on your lifestyle preferences. Victorian Village, South Main Historic District, Uptown Memphis, and New Pathways provide the best social scenes with high walk scores and abundant dining options. Pet owners should consider White Station-Yates, Cordova, Fenwick Road, and Walnut Creek for their pet-friendly amenities and nearby dog parks.

What areas of Memphis, TN are best for budget-conscious renters?

Memphis provides several affordable neighborhood options with rents well below the city median. Destiny Unlimited and Hollywood Hyde Park Springdale both offer one-bedroom apartments around $600 per month, running 37% below the city median. Magnolia Barksdale Civic Club, Alcy-Ball, and South Memphis Citizens United for Action also provide budget-friendly alternatives with median rents ranging from around $840 to $870.

Are there pet-friendly apartments in Memphis, TN?

Memphis welcomes pet owners with 52% of rental listings offering pet-friendly policies, reflecting the city's accommodating attitude toward four-legged residents. White Station-Yates, Cordova, Fenwick Road, and Walnut Creek neighborhoods specifically cater to pet owners with features like pet flooring, dedicated pet spaces, and nearby dog parks with waste stations.

Are utilities usually included in rent in Memphis, TN?

Utilities are rarely included in Memphis rental properties, appearing in less than 1% of total listings across all bedroom types. One-bedroom apartments have the highest rate of utility inclusion at 0.03% of listings, while studios, two-bedrooms, and three-bedrooms each include utilities in less than 0.02% of available rentals.