Rental market snapshot for Memphis, Tennessee
Memphis, Tennessee Rental Property Market Overview
The average rent for an apartment in Memphis is $1,645. The cost of rent varies depending on several factors, including location, size, and quality.
The average rent has decreased by -1.5% over the past year.
Memphis is a city located along the Mississippi River in the southwestern corner of the U.S. state of Tennessee. Memphis is the seat of Shelby County, the most populous county in Tennessee. As of 2019, the population of Memphis was 651,073, making it the 26th most populous city in the United States.
Last Updated December 23, 2022
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Sign upAverage monthly rent graph in Memphis Tennessee | Cost of Living
- The most expensive ZIP Code in Memphis is 38018 with an average price of $1,910
- The cheapest ZIP Code in Memphis is 38106 with an average price of $475
Memphis ZIP Codes with the highest, most expensive rent
| # | zip code | average rent |
|---|---|---|
| 1 | 38018 | $1,910 |
| 2 | 38018 | $1,895 |
| 3 | 38125 | $1,870 |
| 4 | 38125 | $1,865 |
| 5 | 38119 | $1,795 |
| 6 | 38109 | $1,730 |
| 7 | 38002 | $1,725 |
| 8 | 38135 | $1,700 |
| 9 | 38135 | $1,695 |
| 10 | 38119 | $1,685 |
Live near Memphis, Tennessee's Top Sights and Attractions
Audubon Park is a 30-acre park located in the heart of Memphis, Tennessee. The park is home to a variety of birds, including the iconic peacock, and also features a playground, picnic areas, and a walking trail.
Firestone Park is a public park in Memphis, Tennessee. The park is located on a bluff overlooking the Mississippi River. The park is home to a variety of trees, shrubs, and flowers. There are also a number of walking trails, a playground, and a picnic area.
May Park is a small, urban park located in the heart of Memphis. The park is home to a variety of trees, shrubs, and flowers, as well as a playground, picnic tables, and a walking trail.
Overton Park is a 342-acre park located in Midtown Memphis, Tennessee. The park includes a 9-hole golf course, a lake, a playground, picnic areas, and a nature center. The park is also home to the Memphis Zoo, the Memphis Brooks Museum of Art, and the Levitt Shell, an outdoor amphitheater.
Hickory Hill Park is a large park with a playground, a pavilion, and a walking trail. The park also has a basketball court, a tennis court, and a volleyball court.
The Art Museum is an attraction located in the city of Memphis, Tennessee. The museum is home to a variety of artworks, ranging from paintings to sculptures. Visitors can also enjoy a variety of educational programs and events.
Art Museum University of Memphis is an art museum in Memphis, Tennessee. The museum has a collection of art from around the world, as well as a variety of temporary exhibitions.
Shelby Farms Greenline is a 10-mile long paved trail that runs through the heart of Shelby Farms Park, one of the largest urban parks in the country. The Greenline is used by pedestrians, cyclists, and runners, and is a popular spot for bird watching.
Memphis, Tennessee area median rent change by ZIP Code map
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Sign upHow does Memphis compare to other cities in Tennessee ?
| city | median price |
|---|---|
| Old Hickory | $2,249 |
| Hermitage | $2,205 |
| La Vergne | $1,930 |
| Lakeland | $1,870 |
| Gallatin | $1,745 |
| Millersville | $2,155 |
| Collierville | $2,090 |
| Cane Ridge | $1,990 |
Average household income in Memphis area graph - US Census
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Whenever this data is updated, you'll be the first to know. Don't miss out on crucial market insights.
Sign upThe median household income in Memphis in 2021 was $41,864. This represents a 12.9% change from 2011 when the median was $37,072.
| # | category | percent |
|---|---|---|
| 0 | Less than $10,000 | 10.8% |
| 1 | $10,000 to $14,999 | 7.4% |
| 2 | $15,000 to $19,999 | 6.5% |
| 3 | $20,000 to $24,999 | 6.3% |
| 4 | $25,000 to $29,999 | 5.8% |
| 5 | $30,000 to $34,999 | 6.3% |
| 6 | $35,000 to $39,999 | 4.9% |
| 7 | $40,000 to $44,999 | 5.2% |
| 8 | $45,000 to $49,999 | 4.5% |
| 9 | $50,000 to $59,999 | 8.2% |
| 10 | $60,000 to $74,999 | 8.5% |
| 11 | $75,000 to $99,999 | 9.4% |
| 12 | $100,000 to $124,999 | 6.1% |
| 13 | $125,000 to $149,999 | 3.0% |
| 14 | $150,000 to $199,999 | 3.1% |
| 15 | $200,000 or more | 4.2% |
