7,835

Memphis, TN Homes for Rent

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  • /78

    Starting at $1,420 Per Month

    • 1 - 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

    9 E Carolina Ave, Memphis, TN 38103
  • /10

    $1,330 Per Month

    • 3 Beds
    • 2 Baths
    • 1,215 Sq Ft
    • House for Rent

    250 1st Ave, Memphis, TN 38109

    Inviting 1215 Square foot, 3 bedroom, 2 full bath home, perfect for a family. Main bedroom is separated from the other bedrooms for privacy. Fully renovated, feels like a new build, this home has a refreshing open floor plan with separate mud room or dining room, a big yard, and sits on a quiet street. Enjoy TV with the kids after school on your new 65" flat screen TV, your bonus for signing the

    Agent Photo

    Leaser Coleman

    Empire Realty, LLC

    250 1st Ave, Memphis, TN 38109
  • /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

    440 Monroe Ave, Memphis, TN 38103
  • /16

    $1,550 Per Month

    • 4 Beds
    • 2 Baths
    • 1,769 Sq Ft
    • House for Rent

    1946 Rolling Glen Cove, Memphis, TN 38134

    Great 4 bedroom (2 down & 2 up), 2 full bath, 2 car garage, large fenced yard, .22 acre COVE Lot. UpdatedWindows in most of the house in 2015, Living room, dining room, den, & breakfast area. Stainless Steel GE double oven, & Stainless Steel dishwasher,Laundry room.

    Agent Photo

    Jo Mathes

    Pinnacle Realty

    1946 Rolling Glen Cove, Memphis, TN 38134
  • /39

    Starting at $1,403

    Total Monthly Price

    • 1 Bed

    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

    694 Madison Ave, Memphis, TN 38103
  • /8

    $760 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

    128 Stonewall St Unit 7, Memphis, TN 38104
  • /43

    Starting at $865 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

    3896 Chippewa Rd, Memphis, TN 38118
  • /14

    $1,375 Per Month

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

    4742 Violet Ave, Memphis, TN 38122

    Charming three-bedroom, one-bathroom home full of character and space! Enjoy the convenience of a carport and a sprawling, fenced backyard, complete with a spacious covered porch perfect for entertaining. Original hardwood floors add to the timeless appeal throughout. Nestled on a quiet, peaceful street, this gem is a must-see! Don't waitschedule your viewing today!

    Agent Photo

    Jo Mathes

    Pinnacle Realty

    4742 Violet Ave, Memphis, TN 38122
  • /34

    Starting at $909 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

    555 Wood Arbor Pkwy, Cordova, TN 38018
  • /11

    $950 Per Month

    • 2 Beds
    • 1 Bath
    • 18,306 Sq Ft
    • Condo for Rent

    3449 Southern Ave Unit 3453 - 101, 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 bedrooms, updated bathroom finishes, and energy-efficient windows. The exterior features

    Agent Photo

    Jo Mathes

    Pinnacle Realty

    3449 Southern Ave Unit 3453 - 101, Memphis, TN 38111
  • /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

    645 N Front St, Memphis, TN 38107
  • /16

    $1,010 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

    1075 Kney St, Memphis, TN 38107
  • /38

    Starting at $949 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

    2540 Broad Ave, Memphis, TN 38112
  • /13

    $1,025 Per Month

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

    4201 Truman Ave, Memphis, TN 38108

    Charming traditional home with renovated bathrooms, luxury primary bath, and updated kitchen. Features include separate dining room, great room,fenced yard, and porch

    Agent Photo

    Jo Mathes

    Pinnacle Realty

    4201 Truman Ave, Memphis, TN 38108
  • /33

    Starting at $1,025 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

    8056 Country Squire Ln, Cordova, TN 38018
  • /15

    $1,285 Per Month

    • 1 Bed
    • 1 Bath
    • 792 Sq Ft
    • Condo for Rent

    2263 Young Ave Unit 212, Memphis, TN 38104

    1 bedroom 1 bathroom with walk-in closet, eat-in kitchen. Stackable stays along with barstools and flat screen TV with mount. Great for college students or out-of-town commuters.

    Agent Photo

    Amanda Lester

    NextHome Cornerstone Realty

    2263 Young Ave Unit 212, Memphis, TN 38104
  • /42

    Starting at $926 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

    99 N Main St, Memphis, TN 38103
  • /40

    $2,700 Per Month

    • 4 Beds
    • 2.5 Baths
    • 1,657 Sq Ft
    • House for Rent

    1855 Oliver Ave, Memphis, TN 38114

    You don't want to miss this Bungalow styled gem in Cooper Young. Located in the heart of Memphis, this home is completely renovated. Home can be rented fully furnished. Bathrooms feature rain can shower heads. Primary bedroom features rain can shower heads and walk in closet. Did we mention the 4th bedroom/Bonus room located on second level, length of home. Deposit of $2000

    Agent Photo

    Reginald Harris

    Harris Realty Services

    1855 Oliver Ave, Memphis, TN 38114
  • /41

    Starting at $752 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

    3048 Moriah Trail, Memphis, TN 38115
  • /18

    $1,750 Per Month

    • 3 Beds
    • 2 Baths
    • 1,376 Sq Ft
    • House for Rent

    9040 Pepper Hollow Ct, Cordova, TN 38016

    Beautiful 3-bedroom, 2-bath home for rent in the Reflections of Carrollwood community! This single-story home offers approximately 1,376 sq. ft. of living space, a 2-car garage, central heat and air, a cozy fireplace, and a functional floor plan. Conveniently located near schools, shopping, dining, and major highways. Schedule your showing today!

    Agent Photo

    Jo Mathes

    Pinnacle Realty

    9040 Pepper Hollow Ct, Cordova, TN 38016
  • /20

    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

    1387 Central Ave, Memphis, TN 38104
  • /2

    $1,430 Per Month

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

    3792 Glenburee St, Memphis, TN 38109

    Agent Photo

    Leaser Coleman

    Empire Realty, LLC

    3792 Glenburee St, Memphis, TN 38109
  • /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

    7841 N Garden Manor Dr, Memphis, TN 38125
  • /38

    $3,400 Per Month

    • 4 Beds
    • 3.5 Baths
    • 3,269 Sq Ft
    • House for Rent

    500 Colonial Rd, Memphis, TN 38117

    Wonderful opportunity to live in the heart of East Memphis convenient to everything! Amazing 4 bedroom, 3.5 bathroom house. Available immediately, $3,500/month rent. $3,500 security deposit required. Pet deposit negotiable. Features 3 bedrooms down, 2 dens/living spaces, separate dining room and an extra 16x13 space that can used as an office or hobby space or downstairs playroom. There is also a

    Agent Photo

    Corey Steinberg

    River City Land Co., LLC

    500 Colonial Rd, Memphis, TN 38117
  • /66

    Starting at $959 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

    1490 Century Arbor Ln, Memphis, TN 38134
  • /14

    $960 Per Month

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

    4374 Deborah Ave, Memphis, TN 38108

    Welcome to your cozy retreat nestled in the heart of Memphis. This charming bungalow style single-family home offers comfort, convenience, and character in a tranquil setting. Enjoy two well-appointed bedrooms that provide comfortable spaces for rest and rejuvenation.

    Agent Photo

    Jo Mathes

    Pinnacle Realty

    4374 Deborah Ave, Memphis, TN 38108
  • /50

    Starting at $799 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

    1400 Greenbrook Pkwy, Memphis, TN 38134
  • /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

    2295 Dexter Ave, Memphis, TN 38108
  • /42

    Starting at $1,100 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

    130 S Front St, Memphis, TN 38103
  • /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

    1541 Patton St, Memphis, TN 38106
  • /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

    2774 S Mendenhall Rd, Memphis, TN 38115
  • /24

    $2,500 Per Month

    • 4 Beds
    • 2 Baths
    • 2,100 Sq Ft
    • House for Rent

    3587 Cowden Ave, Memphis, TN 38111

    Walk to the University of Memphis! Beautifully renovated 4BR/2BA home in a quiet, tree-lined East Memphis neighborhood just off S. Highland. This home has been completely updated with new flooring, plumbing, electrical, roof, and HVAC for worry-free living. Enjoy a spacious primary suite, a large double lot, and an expansive backyard with two detached garages—ideal for extra storage, a workshop,

    Agent Photo

    Dylan Johnson

    901, REALTORS

    3587 Cowden Ave, Memphis, TN 38111
  • /75

    Starting at $1,039 Per Month

    • 1 - 2 Beds

    7935 Club Dr, Cordova, TN 38016

    NEWLY RENOVATED APARTMENTS! Welcome to Trinity Lakes! Enjoy the benefits of two fitness centers, an indoor racquet ball court, a NEW pickle ball court and a newly finished lighted tennis court! Also we have two swimming pools, and warm yourself up on those cold nights in our steaming hot tub! Also, for special nights, we provide our residents with the option of our accommodating, rentable Club

    Trinity Lakes

    7935 Club Dr, Cordova, TN 38016
  • /13

    $1,125 Per Month

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

    4100 Vaughn Rd, Memphis, TN 38122

    Beautifully updated with freshly painted walls and refinished hardwood floors, this home offers two bedrooms and one full bath. The spacious great room flows seamlessly into the open kitchen with a breakfast area, boasting hardwood flooring throughout. Enjoy the expansive backyard for outdoor activities and relaxation.

    Agent Photo

    Jo Mathes

    Pinnacle Realty

    4100 Vaughn Rd, Memphis, TN 38122
  • /23

    Starting at $760 Per Month

    • Studio - 3 Beds

    252 N Lauderdale St, Memphis, TN 38105

    Your home says a lot about you. At Uptown Square you get to choose from a variety of floor plans that offer historic character, downtown living, prestige, and family appeal.Uptown Square has something for everyone, and if you want to be a part of something dramatically different, you should know that everything old here is new again - move in now and get back in style.

    Uptown Square Apartments

    252 N Lauderdale St, Memphis, TN 38105
  • /8

    $770 Per Month

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

    128 Stonewall St Unit 8, Memphis, TN 38104

    This apartment is an absolute gem! It has off-street parking, large closets, refinished hardwood floors, high ceilings, and a separate dining room. This second floor unit has 2 window units that keeps the apartment cool and a wall furnace that makes the apartment toasty. Requirements: Credit score 600 or higher Employment one year or longer Income 3 times rent amount No Bankruptcy, evictions, or

    Agent Photo

    Jo Mathes

    Pinnacle Realty

    128 Stonewall St Unit 8, Memphis, TN 38104
  • /37

    Starting at $935 Per Month

    • 1 - 2 Beds

    6520 Macon Rd, Memphis, TN 38134

    Canterbury Woods is a conveniently located Apartment Community in Memphis, TN. We offer spacious 1 & 2 bedroom floor plans and amenities to fit every need! You will come home to our state of the art indoor/outdoor swimming pool and hot tub, which is available to you all year! In addition our newly renovated fitness center is available 24/7, or enjoy a game of tennis or Sand Volleyball on one of

    Canterbury Woods Apartments

    6520 Macon Rd, Memphis, TN 38134
  • /17

    $1,250 Per Month

    • 3 Beds
    • 2 Baths
    • 1,533 Sq Ft
    • House for Rent

    1683 Walker Ave, Memphis, TN 38114

    This established gem is nestled in the Rozelle neighborhood right next to the Cooper-Young area of town. A very short drive or bike ride away from plenty of restaurants and entertainment! This home features 3 bedrooms, two full baths, a bonus room, an attic and basement for plenty of storage space! Book your viewing today!!

    Agent Photo

    Leaser Coleman

    Empire Realty, LLC

    1683 Walker Ave, Memphis, TN 38114
  • /23

    Starting at $1,030 Per Month

    • 1 - 3 Beds

    1544 Madison Ave, Memphis, TN 38104

    Madison Midtown Apartments offers many amenities for our residents to take advantage of. Stay active at our state-of-the-art fitness center, take a dip in our resort-style swimming pool, or relax in our resident lounge. For your convenience, we also offer parcel pick-up, bike storage, off-street parking, an outdoor grilling area, and on-site management and maintenance teams.

    Madison Midtown

    1544 Madison Ave, Memphis, TN 38104
  • /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

    3634 Cowden Ave, Memphis, TN 38111

Showing Results 1 - 40, Page 1 of 18

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 $1,350 per month, though prices vary by neighborhood, size, and property type. As of August 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 $54,000 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 $1,350 per month in Memphis, TN, renters typically need to show $4,050 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 12.6, 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 Orange Mound, Chickasaw Gardens, Cooper-Young, East Memphis and Southeast Memphis, each with its own character and price range.

Rental Home Trends

Number of Homes for Rent
1,954
Median Rent
$1,350
Median Single Family Home Rent
$1,430
Median Townhouse Rent
$1,600
Median Condo Rent
$1,150
How to Rent a Home