Rental market snapshot for Midtown, Memphis
Midtown rental market summary
The rental market in Midtown, Tennessee is showing signs of growth. In July 2023, there were 372 new listings, a significant increase from the previous month. The median rent for the same period was $1,100, a 8.3% increase from the previous month and a 7.9% increase from the same period in 2022. This indicates that the rental market in Midtown is becoming increasingly competitive, with more people looking to rent and landlords raising their prices.
The increasing demand for rental properties in Midtown is likely due to the area's growing population and job opportunities. With more people looking for homes in the area, landlords are able to increase their prices and still find tenants. This is a positive sign for the local economy, as it indicates that people are confident in the area's future prospects. With more people looking to rent, Midtown is likely to continue to see an increase in rental prices in the coming months.
Median rent for all residential properties in Midtown
Get the latest rental data first
The most expensive listings and top trending buildings in Midtown
Most Expensive Listings
| Address | Rent Price | Bed / Bath |
|---|---|---|
| 1257 Faxon Ave | $7,850 | 6 / 3.0 |
| 2241 Madison Ave | $3,950 | 3 / 3.0 |
| 2068 Elzey Avenue | $2,825 | 3 / 2.5 |
| 1387 Peabody Ave | $2,795 | 3 / 2.5 |
| 1912 Poplar Ave | $2,750 | 3 / 2.0 |
Top Trending Buildings
| building name | avg rent price |
|---|---|
| RAM Partners LLC | $1,850 |
| Multi South Management Services | $1,166 |
| Memphis Passive LLC | $950 |
Get the latest rental data first
Bedroom Breakdown in Midtown
Midtown neighborhood apartments rents
The rental market for studios in Midtown, Tennessee is showing signs of stability. In July 2023, there were 5 new studio listings, and the median rent for studios stayed relatively consistent, decreasing by 3.2% from $930 in June 2023 to $900 in July 2023. This suggests that the rental market for studios in Midtown is not experiencing any drastic changes, and is likely to remain steady in the near future.
The rental market for 1-bedroom apartments in Midtown, Tennessee is showing signs of growth. In July 2023, there were 17 new 1-bedroom listings, a 16.8% increase from the median rent in June 2023. The median rent for 1-bedroom apartments in July 2023 was $999, a decrease from the median rent in June 2023 of $1,200. This suggests that the rental market is becoming more competitive, with more options available for renters.
The rental market for 2-bedroom apartments in Midtown, Tennessee is showing signs of growth. In July 2023, there were 12 new 2-bedroom listings, a 21.5% increase in median rent from June 2023 to July 2023, and a median rent of $1,975. This indicates that demand for 2-bedroom apartments is increasing, and that the rental market is becoming more competitive.