8,095

Memphis, TN Homes for Rent

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  • /93

    Starting at $999 Per Month

    • Studio - 2 Beds

    9 E Carolina Ave, Memphis, TN 38103

    Built on repurposed railroad land using energy efficient construction and open-air design, South Junction means lower-cost, lower-impact living. Our garden-style apartments are perfectly situated within walking distance to Big River Crossing, the Farmer’s Market, Tom Lee Park, and all the shops and restaurants in the South Main Arts District.

    South Junction Apartments

    (901) 763-6747

    9 E Carolina Ave, Memphis, TN 38103
  • /2

    $1,750 Per Month

    • 3 Beds
    • 2 Baths
    • 1,540 Sq Ft
    • House for Rent

    1055 Shaw Place, Memphis, TN 38126

    Agent Photo

    Charlene Bailey

    Bespoke Realty

    (901) 716-6417

    1055 Shaw Place, Memphis, TN 38126
  • /42

    Starting at $1,400

    Total Monthly Price

    • 1 Bed

    440 Monroe Ave, Memphis, TN 38103

    The Urban Loft Co. in Memphis, located at 440 Monroe Ave, offers a vibrant and modern urban living experience, NOW LEASING. This new community features fully furnished lofts designed for convenience and comfort, with utilities and high-speed internet included from day one. Our residences boast upscale design elements such as high ceilings, custom cabinetry, expansive windows, and wood-style

    Urban Loft Co. Memphis- Utilties Included

    (901) 979-7134

    440 Monroe Ave, Memphis, TN 38103
  • /15

    $1,395 Per Month

    • 3 Beds
    • 1 Bath
    • 1,250 Sq Ft
    • House for Rent

    961 N Perkins Rd, Memphis, TN 38122

    Flexible Leases (12–24 months) | Same-Day Online Approval | Second Chance & Section 8 Accepted | Zero Deposit Required for Approved Applicants Through Obligo Beautifully updated 3-bedroom, 1-bath home with new tiles, brand new bathroom, laundry area, expansive backyard, and covered carport. Quiet neighborhood ready for you! Unit amenities Air conditioner, Carport, Heat, Laundry hookup, Pet

    Agent Photo

    Jo Mathes

    Pinnacle Realty

    (901) 899-6512

    961 N Perkins Rd, Memphis, TN 38122
  • /19

    Starting at $1,213 Per Month

    • 1 - 3 Beds

    1505 Dexter Lake Dr, Cordova, TN 38016

    MAA Dexter Lake now offers more times for touring so you can tour when it's convenient for you.We have a tour to fit your needs- virtual, self-guided, or agent-guided. Find your next home at MAA Dexter Lake in Cordova, TN. Our one-, two-, and three-bedroom apartment homes include stainless steel appliances, Jacuzzi tubs, and oversize closets. Take a community paddle or fishing boat out on our

    MAA Dexter Lake

    (901) 245-5036

    1505 Dexter Lake Dr, Cordova, TN 38016
  • /8

    $1,100 Per Month

    • 2 Beds
    • 1 Bath
    • 1,000 Sq Ft
    • House for Rent

    1075 Kney St, Memphis, TN 38107

    This is a perfect starter home / investment property. Home has been renovated. 3 bedrooms/1 bath. 1/2 off second month's rent!!!

    Agent Photo

    Leaser Coleman

    Empire Realty, LLC

    (901) 669-4407

    1075 Kney St, Memphis, TN 38107
  • /56

    Starting at $1,403

    Total Monthly Price

    • 1 - 2 Beds

    694 Madison Ave, Memphis, TN 38103

    Orleans Station’s brand-new Brownstone-style apartments celebrate the historic architecture of neighboring Victorian Village and UTHSC. Walk to class, bike to work, or take your laptop to French Truck Coffee for a remote work/study session. Enjoy food trucks in Health Sciences Park, a street fair in The Edge, or a trip to the Big River Crossing. This is where you want to be. In the middle of it

    Orleans Station

    (901) 295-0061

    694 Madison Ave, Memphis, TN 38103
  • /27

    $1,350 Per Month

    • 3 Beds
    • 2 Baths
    • 1,110 Sq Ft
    • House for Rent

    945 Nora Rd, Memphis, TN 38109

    This home has been completed renovated, home has three bedrooms and two full bathrooms. Fully equipped kitchen area with brand new stove, refrigerator, dishwasher along with central air and heat. Home also has washer and dryer hook ups. Free 55 inch flat screen TV with signed lease!

    Agent Photo

    Leaser Coleman

    Empire Realty, LLC

    (901) 669-4321

    945 Nora Rd, Memphis, TN 38109
  • /43

    Starting at $710 Per Month

    • 1 - 4 Beds

    3896 Chippewa Rd, Memphis, TN 38118

    Set amidst 30 tranquil acres in Southeast Memphis, our gated community offers a serene escape with mature trees, vibrant seasonal blooms, and a peaceful atmosphere perfect for today's busy professionals. Indulge in spacious one-, two-, three-, and four-bedroom apartments showcasing modern designs, elegant finishes, and a host of desirable amenities.

    Azure Place Apartments

    (901) 350-6634

    3896 Chippewa Rd, Memphis, TN 38118
  • /19

    $1,500 Per Month

    • 3 Beds
    • 2 Baths
    • 1,147 Sq Ft
    • House for Rent

    3800 E Mallory Ave, Memphis, TN 38111

    ??? Welcome home! Thank you for your interest in our newly remodeled property. This beautiful home features fresh updates, modern touches, and a warm, inviting feel you’ll love the moment you walk in. Don’t miss your chance to make this house your next home! For more information or to schedule a tour, please contact Empire Realty today — we’d love to help you find your perfect fit!

    Agent Photo

    Leaser Coleman

    Empire Realty, LLC

    (901) 499-3844

    3800 E Mallory Ave, Memphis, TN 38111
  • /34

    Starting at $912 Per Month

    • 1 - 3 Beds

    555 Wood Arbor Pkwy, Cordova, TN 38018

    "Welcome home to The Willows at Shelby Farms located in Cordova, TN! At The Willows at Shelby Farms, we proudly offer beautiful one, two, and three bedroom apartments. Each of our stylish and comfortable homes feature fully-equipped kitchens, generous closet space, and an open design, creating the ideal space for both relaxing and entertaining.Take advantage of our premier amenities, including a

    The Willows at Shelby Farms

    (901) 446-3004

    555 Wood Arbor Pkwy, Cordova, TN 38018
  • /7

    $1,100 Per Month

    • 3 Beds
    • 2 Baths
    • 1,074 Sq Ft
    • House for Rent

    2295 Dexter Ave, Memphis, TN 38108

    This home has been completely renovated. Spacious 3 bedrooms/2 full bathrooms. large laundry room/dining room. Section 8 welcomed! 55 inch flat screen TV with new lease signing.

    Agent Photo

    Leaser Coleman

    Empire Realty, LLC

    (901) 256-3309

    2295 Dexter Ave, Memphis, TN 38108
  • /37

    Starting at $1,140 Per Month

    • 1 - 3 Beds

    645 N Front St, Memphis, TN 38107

    Feel the pulse of the city from Harbor Side at Conwood Flats, where every detail is crafted to amplify your urban experience. Picture sun-drenched mornings on our rooftop terrace, the river's mist dancing across the skyline as you sip freshly brewed coffee. Below, an expansive fitness studio awaits—cardio machines line the windows, free weights gleam under modern lighting, and stretching areas

    Harbor Side at Conwood Flats Apartments

    (901) 371-4690

    645 N Front St, Memphis, TN 38107
  • /9

    $1,200 Per Month

    • 3 Beds
    • 2 Baths
    • 1,008 Sq Ft
    • House for Rent

    1541 Patton St, Memphis, TN 38106

    This home has been renovated and is move in ready! This would make a nice first time buyer home or investment property. Half off second month's rent and tenants choice of 55 inch flat screen TV or Refrigerator!!!

    Agent Photo

    Leaser Coleman

    Empire Realty, LLC

    (901) 499-3167

    1541 Patton St, Memphis, TN 38106
  • /32

    Starting at $906 Per Month

    • Studio - 2 Beds

    810 Washington Ave, Memphis, TN 38105

    Brick-lined sidewalks, rooftop sunsets, and the pulse of downtown just outside your door—Iris Luxury Apartments places you in the heart of the city with views worth waking up to. These luxury apartments in Memphis, TN are designed for momentum and comfort, with granite countertops, tile backsplashes, and sleek finishes that make your space feel like your own. You can also lounge poolside on the

    Iris Luxury Apartments

    (901) 390-9285

    810 Washington Ave, Memphis, TN 38105
  • /13

    $1,690 Per Month

    • 3 Beds
    • 2 Baths
    • 1,300 Sq Ft
    • House for Rent

    2819 Hidden Creek Cove, Memphis, TN 38134

    GREAT HOME IN EXCELLENT CONDITION; QUIET COVE-WOODED LOT,GREAT FOR SHADE GARDEN, GARDNER'S DREAM. LOVELY DECOR, GREAT ROOM WITH FIREPLACE. EAT-IN KITCHEN. W/BAR

    Agent Photo

    Jo Mathes

    Pinnacle Realty

    (901) 675-7670

    2819 Hidden Creek Cove, Memphis, TN 38134
  • /38

    Starting at $1,087 Per Month

    • Studio - 2 Beds

    2540 Broad Ave, Memphis, TN 38112

    Indulge in upscale Midtown Memphis living at Link Apartments(R) Broad Ave. Our homes feature oversized windows and luxe plank flooring in every room for a spacious, modern feel. Relax in open-concept kitchens with Energy Star appliances and subway tile backsplashes.Unwind by our saltwater pool or host gatherings in the courtyard with ping pong and grills. Stay active in the award-winning fitness

    Link Apartments® Broad Ave

    (901) 531-9422

    2540 Broad Ave, Memphis, TN 38112
  • /29

    $2,400 Per Month

    • 3 Beds
    • 2 Baths
    • 1,532 Sq Ft
    • House for Rent

    3634 Cowden Ave, Memphis, TN 38111

    Rare chance to rent in the Campus School District! This cottage is a perfect updated 3/2 within a block of the U of M! So much space for your family or friends to share! You'll love the big windows that let in tons of natural light, as well as all the other charming details such as the fireplace and built-in shelves. The kitchen is updated with granite, & the downstairs bathroom was just

    Agent Photo

    Kimmer Plunk

    Centric Realty LLC

    (901) 660-3538

    3634 Cowden Ave, Memphis, TN 38111
  • /33

    Starting at $987 Per Month

    • 1 - 2 Beds

    8056 Country Squire Ln, Cordova, TN 38018

    Escape the post-work slump at The View at Shelby Farms! We're minutes from the epic outdoor adventures of Shelby Farms Park – hiking, biking, kayaking, you name it! But first, unwind in your spacious 1 or 2-bedroom apartment. Think movie marathons on plush couches and room to breathe. Plus, we've got everything you need to recharge and connect: a state-of-the-art fitness center, a sparkling pool,

    The View at Shelby Farms

    (901) 472-7806

    8056 Country Squire Ln, Cordova, TN 38018
  • /10

    $1,050 Per Month

    • 2 Beds
    • 1 Bath
    • Apartment for Rent

    605 Patterson St Unit 7, Memphis, TN 38111

    Must see! This renovated first floor, 2 bedroom apartment features hard surface flooring throughout, ceiling fans in the bedrooms, fresh paint, an updated kitchen and bath and is conveniently located near the University of Memphis and all of the shopping, dining, and entertainment offered on the Highland Strip. The property features a common area patio with grills for tenant use. Appliances

    Agent Photo

    Haydn Wiseman

    Cahltrep Realty, LLC

    (901) 267-4855

    605 Patterson St Unit 7, Memphis, TN 38111
  • /42

    Starting at $828 Per Month

    • Studio - 3 Beds

    99 N Main St, Memphis, TN 38103

    Rising 25 stories high in the downtown Memphis sky, Indigo Riverview Apartments offers unparalleled views and a centralized location near the University of Memphis Law School and the Memphis Medical District. Our facilities include a new resident lounge, theater and game room, and fitness center. Our spacious floor plans include updated interiors, private patios/balconies. Residents also have

    Indigo Riverview

    (870) 771-3247

    99 N Main St, Memphis, TN 38103
  • /15

    $1,600 Per Month

    • 3 Beds
    • 1 Bath
    • 1,413 Sq Ft
    • House for Rent

    1653 Colonial Rd, Memphis, TN 38117

    This freshly painted 3 BR/1 Bath, Den, Kitchen, Combined Living/Dining, Laundry room is ready for it's new tenants! Central Heat/Air, newly fenced in back yard w/patio. Stove, refrigerator, washer/dryer all included! The only thing missing is you!

    Agent Photo

    Leaser Coleman

    Empire Realty, LLC

    (901) 673-7457

    1653 Colonial Rd, Memphis, TN 38117
  • /41

    Starting at $699 Per Month

    • 1 - 2 Beds

    3048 Moriah Trail, Memphis, TN 38115

    Welcome to The Trails at Mt. Moriah, where everyday comfort meets a sense of calm just outside the city's buzz. These apartments in Memphis, TN, offer more than square footage—they offer space to breathe, to grow, and to feel at home. Nestled in a quaint neighborhood, this is a place where mature trees line your morning stroll, and weekends flow from poolside lounging to afternoon tennis matches.

    The Trails at Mt. Moriah

    (833) 685-3763

    3048 Moriah Trail, Memphis, TN 38115
  • /16

    $1,800 Per Month

    • 4 Beds
    • 1 Bath
    • 1,199 Sq Ft
    • House for Rent

    8 E Brooks Rd, Memphis, TN 38109

    This beautifully renovated home is rent ready for a family. If features 4 bedrooms and 1 bathroom, kitchen, laundry closet, rear load garage and plenty of space. Free 55 inch flat screen TV with singed lease!! Section 8 welcome!

    Agent Photo

    Leaser Coleman

    Empire Realty, LLC

    (901) 665-2519

    8 E Brooks Rd, Memphis, TN 38109
  • /60

    Starting at $849 Per Month

    • Studio - 2 Beds

    1387 Central Ave, Memphis, TN 38104

    At The Bonsai at Central Gardens Apartments, we embrace comfort, convenience, and style. Come home to spacious kitchens with quality features, and chic wood-inspired flooring in our studio, one, and two bedroom apartments. Our exclusive community amenities are designed to elevate your living experience. Take a dip in our swimming pool, squeeze in a workout at our fitness center, or sit back and

    The Bonsai at Central Gardens

    (901) 660-9036

    1387 Central Ave, Memphis, TN 38104
  • /39

    $2,100 Per Month

    • 2 Beds
    • 1 Bath
    • 1,173 Sq Ft
    • House for Rent

    3784 Philwood Ave, Memphis, TN 38122

    *Available for immediate rent in High Point Terrace* 2 bed/1 bath cottage on great street. Offering easy walkability to High Point Grocery, dining, & the Green Line; easy commute to UofM, medical district & downtown. The seller has done extensive updates throughout, including a beautiful kitchen. 2 living spaces for extra comfort, no carpet, and a wonderful deck & backyard. Great rental for 2

    Agent Photo

    Julie Upchurch

    McWaters & Associates

    (901) 617-5160

    3784 Philwood Ave, Memphis, TN 38122
  • /44

    Starting at $1,259 Per Month

    • 1 - 3 Beds

    7841 N Garden Manor Dr, Memphis, TN 38125

    Centennial Gardens Apartments offers comfortable and convenient apartment living in Memphis, TN. Our community features well-maintained grounds, on-site management, and a responsive maintenance team dedicated to resident satisfaction. Located near shopping, dining, schools, and major roadways, Centennial Gardens provides easy access to everything Memphis has to offer while maintaining a quiet,

    Centennial Gardens

    (901) 446-2288

    7841 N Garden Manor Dr, Memphis, TN 38125
  • /8

    $765 Per Month

    • 1 Bed
    • 1 Bath
    • 6,594 Sq Ft
    • Apartment for Rent

    128 Stonewall St Unit 7, Memphis, TN 38104

    Flexible Leases (12–24 months) | Same-Day Online Approval | Second Chance & Section 8 Accepted | Zero Deposit Required for Approved Applicants Through Obligo Beautifully renovated 1 bed, 1 bath, 750 sq. ft. in the Evergreen Historic District. Modern updates, window unit for cooling, wall furnace for heat, and off-street parking. Steps from shops, dining, and entertainment. Contact us today –

    Agent Photo

    Jo Mathes

    Pinnacle Realty

    (901) 668-8363

    128 Stonewall St Unit 7, Memphis, TN 38104
  • /66

    Starting at $975 Per Month

    • 1 - 3 Beds

    1490 Century Arbor Ln, Memphis, TN 38134

    UPGRADED APARTMENTS! Whether it's convenience, prime location, must-have amenities, or a spacious home you're looking for, you'll find it here at The Arbors of Century Center! The Arbors offers its residents the beauty and solitude of a nature reserve, where our community is in a prime location just a short drive from Wolfchase Mall, Shelby Farms, amazing restaurants, grocery stores, many other

    Arbors of Century Center

    (901) 586-3606

    1490 Century Arbor Ln, Memphis, TN 38134
  • /11

    $875 Per Month

    • 1 Bed
    • 1 Bath
    • 18,306 Sq Ft
    • Condo for Rent

    3449 Southern Ave Unit 3453 - 102, Memphis, TN 38111

    Freshly updated and move-in ready, this charming unit offers a clean, modern feel with stylish wood-look flooring, neutral paint, and plenty of natural light throughout. The open living space flows seamlessly into a bright kitchen area, creating a comfortable and functional layout. Enjoy spacious bedroom, updated bathroom finishes, and energy-efficient windows. The exterior features

    Agent Photo

    Jo Mathes

    Pinnacle Realty

    (901) 445-8375

    3449 Southern Ave Unit 3453 - 102, Memphis, TN 38111
  • /50

    Starting at $812 Per Month

    • 1 - 2 Beds

    1400 Greenbrook Pkwy, Memphis, TN 38134

    Welcome to the beautiful Greenbrook at Shelby Farms - right next door to Shelby Farms Park with the convenience of location and the lifestyle of luxury. Our community offers 1, 2 and 3 bedroom apartment homes that are surrounded by 105 acres of beautiful trees, stocked lakes and serene walking paths. Our beautiful, renovated apartment homes boast desirable features including stainless steel

    Greenbrook at Shelby Farms

    (901) 499-2642

    1400 Greenbrook Pkwy, Memphis, TN 38134
  • /18

    $900 Per Month

    • 2 Beds
    • 2 Baths
    • Apartment for Rent

    528 E Parkway N Unit 9, Memphis, TN 38112

    This 2 bedroom, one bath apartment is on the first floor. All appliances and a washer/dryer are within the unit! At the corner of Summer/Forest Ave and Parkway, this property is within walking distance to Overton Park, Memphis Zoo, Rhodes College, Express way. Requirements: Credit score 600 or higher Employment one year or longer Income 3 times rent amount No Bankruptcy, evictions, or judgments

    Agent Photo

    Jo Mathes

    Pinnacle Realty

    (901) 686-7186

    528 E Parkway N Unit 9, Memphis, TN 38112
  • /42

    Starting at $1,260 Per Month

    • Studio - 2 Beds

    130 S Front St, Memphis, TN 38103

    The Peabody Collection offers a unique apartment experience. Our three distinct properties, Pembroke Square, Gayoso House and 50 Peabody Place– each offer a unique experience tailored to different lifestyles. From the quiet elegance of Pembroke Square to the vibrant energy of Gayoso House, you'll find the perfect downtown home within the Peabody Collection.

    Gayoso House

    (901) 479-0037

    130 S Front St, Memphis, TN 38103
  • /15

    $1,245 Per Month

    • 2 Beds
    • 1 Bath
    • 897 Sq Ft
    • House for Rent

    514 Western Dr, Memphis, TN 38122

    Charming 2-bedroom, 1-bath home with new floors, fresh paint, and storage unit. Located in a quiet neighborhood close to shopping and restaurants near the Summer Avenue area.

    Agent Photo

    Jo Mathes

    Pinnacle Realty

    (901) 673-8294

    514 Western Dr, Memphis, TN 38122
  • /50

    Starting at $1,309 Per Month

    • Studio - 3 Beds

    599 Velo Dr, Cordova, TN 38018

    The newest vision of luxury living on the highly sought-after Shelby Farms Park is now a reality, Velo Shelby Farms, awaits you!Velo Shelby Farms luxury apartment homes is located adjacent to Shelby Farms Park in Cordova, Tennessee. This brand-new community offers thoughtfully curated one-, two-, and three-bedroom pet-friendly and smoke-free apartments. The homes are well-appointed with

    Velo Shelby Farms

    (901) 910-3105

    599 Velo Dr, Cordova, TN 38018
  • /15

    $1,149 Per Month

    • 3 Beds
    • 1 Bath
    • 893 Sq Ft
    • House for Rent

    4071 Grey Rd, Memphis, TN 38108

    For Lease! Cute & cozy 3BR/1BA home with 893 sq ft of easy living! This one-story charmer offers a bright living area, functional layout, and spacious yard perfect for outdoor enjoyment. Conveniently located near Kingsbury schools and everyday amenities. Affordable single-family living—schedule your showing today!

    Agent Photo

    Jo Mathes

    Pinnacle Realty

    (901) 676-6470

    4071 Grey Rd, Memphis, TN 38108
  • /20

    Starting at $581 Per Month

    • Studio - 4 Beds

    2774 S Mendenhall Rd, Memphis, TN 38115

    Throughout our centrally located apartment community, you’ll find an array of amenities designed to enhance your lifestyle. Lounge by the pool with neighbors and friends, let your pet burn off energy at the onsite dog park, and enjoy some fun in the sun at one of the four playgrounds. Did we mention we also have a brand-NEW clubhouse? Conveniently situated just off I-240, The Residences at

    The Residences at Lakeview

    (901) 300-4158

    2774 S Mendenhall Rd, Memphis, TN 38115
  • /8

    $1,100 Per Month

    • 2 Beds
    • 1 Bath
    • Apartment for Rent

    445 Garland St, Memphis, TN 38104

    live 1 block away from the Crosstown Concourse.

    Agent Photo

    Michael Mosteller

    REMAX Experts

    (901) 499-4983

    445 Garland St, Memphis, TN 38104
  • /44

    Starting at $1,299 Per Month

    • 2 - 3 Beds

    777 Mount Moriah Rd, Memphis, TN 38117

    This is where renovated design meets real-life rhythm. At Century Apartments, you're steps from everything—but tucked just enough away to breathe. Our apartments in Memphis, TN are fully reimagined with a designer's eye and a commuter's mindset. High-end finishes, smart layouts, and a community that feels like it was built for your pace, not someone else's. Choose from one, two, and

    Century Apartments

    (901) 295-4543

    777 Mount Moriah Rd, Memphis, TN 38117
  • /15

    $1,200 Per Month

    • 3 Beds
    • 2 Baths
    • 1,744 Sq Ft
    • House for Rent

    5364 Santa Monica Cove, Memphis, TN 38116

    PRICE IMPROVEMENT! Spacious 3 bed/ 2 bath home with Living Room + Dining Room & Eat in Kitchen in a quiet neighborhood. Rent $1,200 (Deposit $1,200) One year lease. Must have verifiable Income and Rental History (No evictions) Section 8 is welcomed For application reach out to listing agent

    Agent Photo

    Camille Holmes

    Ready Team REALTORS

    (901) 669-3719

    5364 Santa Monica Cove, Memphis, TN 38116

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Why Live in Memphis

Memphis stands as the birthplace of Blues, Soul, and Rock 'n' Roll, with legendary music landmarks like Sun Studio, where Elvis Presley and Johnny Cash recorded their earliest hits. The city's rich cultural heritage comes alive through attractions like Graceland, Elvis's iconic mansion, and the National Civil Rights Museum at the Lorraine Motel. Beale Street pulses with live music venues, while outdoor spaces like the 4,500-acre Shelby Farms Park and the Mississippi River waterfront at Tom Lee Park provide natural escapes. The culinary scene features standout restaurants such as Central BBQ, known for hickory-smoked ribs, and Gus's Fried Chicken, a regional icon serving Southern spicy fried chicken.

The Memphis housing market presents diverse options across distinct neighborhoods. Single-family homes in Midtown Memphis have a median price of $310,000, while similar properties in Cooper-Young reach $311,000. Downtown Memphis single-family homes show a median price of $265,000. The median price for townhomes throughout Memphis is $399,000, while one-bedroom condos typically sell for a median price of $161,000.

Memphis maintains a cost of living 10.3% below the national average. A family with school-age children needs approximately $95,000 annually to live comfortably, while single renters require about $55,000. The property tax rate in Shelby County sits at 1.03%, with no state income tax and a combined sales tax rate of 9.56%. Monthly grocery costs average $1,600 for families and $700 for singles. The city's educational landscape includes highly rated institutions like White Station High School serving multiple neighborhoods and private schools such as Hutchison School and Memphis University School. The University of Memphis and Rhodes College add to the academic environment.

Frequently Asked Questions

How much does it cost to rent a home in Memphis, TN?
The median rent for a home in Memphis, TN is $1,425 per month, though prices vary by neighborhood, size, and property type. As of June 2026, condos tend to be the most affordable option while single-family homes and townhouses are currently more expensive.
How much do you need to make to afford rent in Memphis, TN?
To comfortably afford the median rent in Memphis, TN, a household needs to earn roughly $57,000 per year. This is based on the common guideline that households should spend no more than 30% of gross income on housing. Most landlords require monthly household income of at least 3x the monthly rent, and with a median rent of $1,425 per month in Memphis, TN, renters typically need to show $4,275 per month in gross income to qualify. Actual affordability will vary depending on household debts, other living expenses, and overall budget.
Is it more affordable to rent or buy in Memphis, TN?
In Memphis, TN, the price-to-rent ratio is 12.0, which generally favors renting. This ratio divides the median home price by the annual median rent: below 15 typically favors buying, 15 to 20 is balanced, and above 20 typically favors renting. Your finances, how long you plan to stay, and costs like mortgage rates, taxes, and maintenance all factor into the decision.
What neighborhoods in Memphis, TN are best for renting a home?
The best neighborhood for renting in Memphis, TN depends on your priorities: commute, walkability, budget, and lifestyle all play a role. Popular areas for renting a home include Chickasaw Gardens, Binghampton, Midtown Memphis, Orange Mound and Cooper-Young, each with its own character and price range.

Rental Trends in Memphis, TN

Rental Home Trends

Number of Homes for Rent
1,818
Median Rent
$1,425
Median Single Family Home Rent
$1,495
Median Townhouse Rent
$1,595
Median Condo Rent
$1,293
How to Rent a Home