Apartments for Rent in Colonial Acres, Memphis, TN

Colonial Acres, Memphis apartment availability

Colonial Acres offers a good selection of rental listings, with an average of about 49 rentals available each month. The neighborhood's rental market is comprised mostly of 3-bedroom apartments, making it a great option for families or those seeking more space. Notably, over half of the apartments in Colonial Acres allow pets, with some having restrictions, making it a pet-friendly neighborhood. With a range of options available, renters can find a home that suits their needs in this Memphis neighborhood.

Colonial Acres, Memphis rental market trends

The Colonial Acres neighborhood in Memphis saw a slight decrease in average rent prices over the past year, with a current average monthly rent of $1,441 across all bed counts and property types. This represents a year-over-year decrease of about 0.7%. Breaking it down by bed count, the average rent for a 2-bedroom is around $1,261, while 3-bedrooms average $1,436. Studios, on the other hand, have seen a significant increase, now averaging $1,860 per month.

In terms of seasonal trends, May tends to be the month with the highest rent prices, while November typically sees the lowest. The difference between these two months is about 7%. If you're looking for a new apartment, you may want to consider searching during the winter months when prices tend to be lower. Keep in mind that the rental market can be less competitive during this time, which may affect the availability of rentals.

Why Colonial Acres, Memphis is a great place to live

Colonial Acres stands out as a neighborhood that seamlessly aligns with the lifestyles and interests of its residents, particularly those who value pet friendliness and an active social life.

For pet owners, Colonial Acres offers a haven with features such as ample pet waste stations, spacious accommodations for pets, pet-safe windows, and generous outdoor spaces. The absence of breed restrictions and the hosting of pet events further enhance its appeal, making it an ideal location for those who consider their pets as part of the family.

The neighborhood also caters to those with a penchant for socializing, thanks to its excellent transit frequency, well-maintained street infrastructure, and high safety standards. The balanced neighborhood age distribution contributes to a vibrant community atmosphere, complemented by a high walk score that invites residents to explore local attractions on foot. If a lively social scene and pet inclusivity are at the top of your checklist, Colonial Acres is worth considering.