Apartments for Rent in Richwood, Memphis, TN

Richwood, Memphis apartment availability

Richwood's rental market offers a good selection of listings, with an average of 52 rentals available each month. The majority of rentals in Richwood are 3-bedroom apartments, making it a great option for families or those looking for more space. Many apartments in Richwood are pet-friendly, with over 76% allowing dogs, including small breeds, making it an attractive choice for pet owners. With a range of options available, renters can find a home that suits their needs in this Memphis neighborhood.

Richwood, Memphis rental market trends

The Richwood neighborhood in Memphis saw a modest 2.75% increase in average monthly rent last year, reaching $1,790. Broken down by bed count, 1-bedrooms averaged $1,478 per month, a 4.08% decrease from the previous year. 2-bedrooms averaged $1,442, a 7.52% decrease, while 3-bedrooms saw a slight 1.27% increase to $1,732. Notably, studio apartments were not available for rent in 2024.

The rental market in Richwood tends to fluctuate throughout the year, with April typically seeing the highest rent prices, 8.08% higher than the lowest month, August. If you're looking for a new apartment, August may be a good time to find a deal. Keep in mind that the rental market can be less competitive during this time, with fewer renters vying for apartments. Conversely, if you're looking to rent in the spring, be prepared for higher prices and potentially more competition.

Why Richwood, Memphis is a great place to live

We've analyzed the data on available homes and amenities in Richwood, Memphis, to identify the top lifestyle trends in the area. Our findings show that Richwood is an excellent neighborhood for those who value social life and pet friendliness.

The neighborhood's population, age distribution, and frequent transit options create a vibrant atmosphere, while the street infrastructure and safety features ensure a comfortable living environment. These factors combined make Richwood an ideal spot for renters who enjoy going out and exploring.

Pet owners will also appreciate the pet-friendly amenities, including pet waste stations, pet supply stores, and spacious outdoor areas. Many homes in the area offer pet-safe windows and no breed restrictions, making it easy to find a suitable place for you and your furry friend. With pet events and ample space for pets to roam, Richwood is a great choice for pet owners.