Memphis, Tennessee Rental Property Market Overview
Memphis, Tennessee is a vibrant city with a population of 628,127 according to the 2021 US Census. It is the largest city in the state of Tennessee and is known for its rich culture, music, and history. Memphis is home to the famous Beale Street, the National Civil Rights Museum, and the Stax Museum of American Soul Music. It is also home to the University of Memphis and many other educational institutions. With its diverse population, Memphis is a great place to live, work, and visit.
The average rent for an apartment in Memphis is $1,844. The cost of rent varies depending on several factors, including location, size, and quality.
The average rent has decreased by 0.00% over the past year.
Last Updated November 20, 2023
Average monthly rent graph in Memphis Tennessee | Cost of Living
- The most expensive ZIP code in Memphis is 38125 with an average price of $1,919.
- The cheapest ZIP code in Memphis is 38114 with an average price of $788.
Memphis ZIP codes with the highest, most expensive rent
|#||ZIP Code||Average Rent|
Live near Memphis, Tennessee's Top Sights and Attractions
Audubon Park is a lush, green oasis located in the heart of a bustling city. It features a large lake, walking trails, and plenty of open space for picnics and outdoor activities. The park is home to a variety of wildlife, including ducks, geese, and other birds. It also features a golf course, tennis courts, and a playground. Visitors can also enjoy the park's many gardens, which feature a variety of native plants and flowers.
Firestone Park is a large outdoor recreational area located in Memphis, Tennessee. It features a variety of activities, including a large lake, walking trails, picnic areas, playgrounds, and a disc golf course. The park also has a large open field perfect for playing sports or having a picnic. There are also several pavilions and shelters available for rent. Firestone Park is a great place to spend a day outdoors with family and friends.
May Park is a large, lush green space located in the heart of the city. It features a large lake, walking trails, and plenty of open grassy areas for picnics and outdoor activities. There is also a playground for children, a gazebo, and a pavilion for events. The park is a popular spot for locals and visitors alike, and is a great place to relax and enjoy the outdoors.
Overton Park is a 300-acre public park located in the heart of Memphis. It is home to a variety of attractions, including a 9-hole golf course, a 9-acre lake, a dog park, a nature center, a playground, and a variety of walking and biking trails. The park also features a variety of events throughout the year, including concerts, festivals, and outdoor movies.
Hickory Hill Park is a large outdoor recreational area located in the suburbs of Memphis. It features a variety of activities and amenities, including a large lake, walking trails, picnic areas, playgrounds, and a disc golf course. The park also has a large pavilion, which is perfect for hosting events and gatherings. There are also plenty of benches and tables scattered throughout the park, making it a great spot for a relaxing afternoon.
This attraction is a large building filled with a variety of artwork from different time periods and cultures. Inside, visitors can explore galleries featuring sculptures, paintings, photographs, and other forms of art. There are also interactive exhibits, educational programs, and special events held throughout the year. The museum also has a gift shop and cafe, making it a great place to spend the day.
Art Museum University of Memphis is an art museum located in Memphis, Tennessee. It features a wide variety of art from around the world, including paintings, sculptures, photographs, and prints. The museum also hosts a variety of special exhibitions, lectures, and educational programs. It is a great place to explore the world of art and learn more about the history and culture of Memphis.
Shelby Farms Greenline is a 5.5-mile paved trail that winds through the heart of Memphis. It is a popular destination for outdoor recreation, offering a variety of activities such as biking, running, and walking. The trail is lined with trees and native plants, providing a peaceful and scenic environment for visitors. Along the way, visitors can take in views of the Wolf River, the Shelby Farms Park lake, and the surrounding wetlands. The trail also features several amenities such as benches, restrooms, and water fountains.
Whitehaven Park is a large, lush green space located in the heart of Memphis. It features a lake, walking trails, picnic areas, playgrounds, and a variety of sports fields. The park is home to a variety of wildlife, including ducks, geese, and other birds. It is a popular spot for locals to enjoy a peaceful stroll, a picnic, or a game of Frisbee. The park also hosts a variety of events throughout the year, such as concerts, festivals, and outdoor movies.
The Mid South Fairgrounds is a large outdoor entertainment complex located in the heart of Tennessee. It features a variety of attractions, including a carnival midway, a rodeo arena, a livestock show, and a large outdoor amphitheater. The fairgrounds also host a variety of events throughout the year, such as concerts, festivals, and other special events. The grounds are also home to a variety of food vendors, offering everything from classic fair food to more upscale fare.
Memphis, Tennessee area median rent change by ZIP code map
How does Memphis compare to other cities in Tennessee?
Average household income in Memphis area graph - US Census
The median household income in Memphis in 2021 was $43,981. This represents a 18.6% change from 2011 when the median was $37,072.
|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%|