Rental market snapshot for Downtown, Memphis
Downtown rental market summary
The rental market in Downtown, Tennessee is showing signs of growth. In July 2023, there were 332 new listings, an 11.1% increase from the previous month. This suggests that more people are looking to rent in the area. The median rent in July 2023 was $1,325, an 11.4% increase from the same time last year. This indicates that rental prices are on the rise in Downtown, Tennessee.
Overall, the rental market in Downtown, Tennessee is looking positive. With more new listings and increasing rental prices, it is a great time to be a renter in the area. With the right research and preparation, renters can find a great deal in Downtown, Tennessee.
Median rent for all residential properties in Downtown
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The most expensive listings and top trending buildings in Downtown
Most Expensive Listings
| Address | Rent Price | Bed / Bath |
|---|---|---|
| 62 N Main St | $6,543 | 0 / 0.0 |
| 62 N Main St | $5,500 | 0 / 0.0 |
| 137 Harbor Point Ln | $4,540 | 4 / 4.0 |
| 62 N Main St | $3,250 | 2 / 2.0 |
| 360 Metal Museum Dr | $2,900 | 3 / 3.0 |
Top Trending Buildings
| building name | avg rent price |
|---|---|
| Envolve Communities LLC | $1,632 |
| Fogelman Properties | $1,525 |
| RAM Partners LLC | $1,498 |
| LMS Investment Management | $1,457 |
| Multi South Management Services | $1,403 |
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Bedroom Breakdown in Downtown
Downtown neighborhood apartments rents
The rental market for studios in Downtown, Tennessee is showing signs of growth. In July 2023, there were 13 new studio listings, indicating an increase in demand for rental units. The median rent for studios in July 2023 was $1,372, a 3.9% decrease from the median rent in June 2023. This suggests that the rental market is becoming more competitive, with landlords offering lower prices to attract tenants. Overall, the rental market for studios in Downtown, Tennessee appears to be on the rise.
The rental market for 1-bedroom apartments in Downtown, Tennessee is showing signs of growth. In July 2023, there were 32 new 1-bedroom listings, which is a 4.9% increase from the previous month. The median rent for 1-bedroom apartments in July 2023 was $1,352, which is a 4.9% decrease from the median rent in June 2023. This indicates that the rental market is becoming more competitive, with more options available for renters.
The rental market for 2-bedroom apartments in Downtown, Tennessee is showing signs of growth. In July 2023, there were 27 new 2-bedroom listings, which is a 10.0% increase from the previous month. The median rent for 2-bedroom apartments in July 2023 was $1,682, which is a decrease of 10.0% from the median rent in June 2023. This suggests that the rental market is becoming more competitive, with more options available for renters.