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Apartments For Rent Under $2,000 in Memphis, TN

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Memphis Apartments Options

Average Rent in Memphis, TN

Avg. RentAnnual Change
Memphis Studio - $1,213-7%
Memphis 1 Bed - $9900%
Memphis 2 Beds - $1,082-2%
Last updated 6/14/2024

Local Guide

See what Memphis, TN has to offer.

Local Reviews

i like my neighbors because we have all been here a very long time. i also like the night lights that shire brightly at night.

Nice neighbors, lots of close shopping centers, several Parks around, we even have a dog park, rent are affordable, food prices are affordable too, gas prices are cheap

I like the fact that older people are apart of this community and have lived here for a longtime to see what's going on

It is very safe. There are businesses near by that can accomodate most needs. It is safe to walk around in at night.

The Wendys up the street is a decent place to go the the drive through, I would not walk there. I have to leave my neighborhood for a quiet park.

The neighborhood is unique because it's where I grew up. The only place I like to go with my children is the park.

Demographics

Education

High School

46%

Associate's

30%

Bachelor's

16%

Master's

7%

Doctorate

1%

Family Size

2 people

44%

3 people

25%

4 people

17%

5 people

7%

6+ people

6%

Household Income

0-50k

58%

50-100k

26%

100-150k

9%

150-200k

3%

200k+

4%

Age

0-10

14%

10-20

13%

20-45

36%

45-65

24%

65+

13%

Affordability

Percentage: 3/53/5

Renters gave this area a 3 out of 5 for affordability

Last updated 6/14/2024

*The rent information included in this summary is based on a median calculation of multifamily rental property inventory on Apartment Guide and Rent.com over the past 12-months and is for illustrative purposes only. This information does not constitute a pricing guarantee or financial advice related to the rental market.

Rent Trends

Average rent in Memphis, TN

In Memphis, TN, as of 2024, the average rent for apartments ranges from $990 to $1,213. Specifically, the average rent for a studio apartment in Memphis, TN is $1,213. For those seeking a 1-bedroom apartments, the average rent is $990. And for a 2-bedroom apartment, renters can expect to pay an average of $1,082.

Annual Rent Change Over the Past 12 Months

Studio

-7%

Changed from $1,304 to $1,213
1 Bed

0%

Changed from $990 to $990
2 Beds

-2%

Changed from $1,104 to $1,082
Last updated 6/14/2024

Rent Ranges

Apartment PricesProportion
3%
23%
33%
29%
12%

Compare Other Cities

City1 Bed Avg RentAnnual Change
Germantown$1,554+4%
Collierville$1,484-1%
Lakeland$1,450+8%
Cordova$1,388+21%
Horn Lake$1,386+4%
Southaven$1,321+1%
Olive Branch$1,210-27%
Atoka$1,130+4%
Walls$1,0700%
Marion$1,062+6%
Memphis$9900%
Robinsonville$9500%
Millington$675-13%
City2 Beds Avg RentAnnual Change
Olive Branch$1,900-3%
Germantown$1,884+13%
Cordova$1,725+22%
Collierville$1,719+1%
Lakeland$1,701-13%
Arlington$1,5690%
Horn Lake$1,532+3%
Southaven$1,436-1%
Atoka$1,225+5%
Munford$1,210--
Marion$1,180+4%
Walls$1,175-2%
Robinsonville$1,090+2%
Millington$1,087+40%
Memphis$1,082-2%

Compare Neighborhoods

North Parkway Village

$550

1 Bed Avg. Rent

Autumn Ridge

$717

1 Bed Avg. Rent

Southeast Memphis

$728

1 Bed Avg. Rent

What are the most affordable neighborhoods in Memphis, TN?

For renters in Memphis seeking more affordable options, the neighborhoods to watch are North Parkway Village, Autumn Ridge, and Southeast Memphis, where average rents for 1-bedroom apartments stand at $550, $717, and $728 respectively. Additional areas offering value are Colonial Willow and Raleigh, where the rents are $745 and $760, a favorable comparison to Memphis's overall 1-bedroom average of $990.

What are the most expensive neighborhoods in Memphis, TN?

In Memphis, the neighborhoods commanding the highest rents are Mud Island, Mid - Second, and East Central Shelby. A 1-bedroom apartment in Mud Island averages at $2,225, in Mid - Second it averages $1,695, and in East Central Shelby, the average is $1,654. For additional high-end living options, Gray's Creek offers 1-bedroom apartments at $1,654, and Southwind at $1,624. These rates compare to the overall average rent of $990 for a 1-bedroom apartment in Memphis, highlighting the premium nature of these specific neighborhoods.

What are the most popular neighborhoods in Memphis, TN?

In Memphis, the most sought-after neighborhoods for renters include Evergreen Historic District, Midtown, and Idlewild Historic District. In Evergreen Historic District, the average rent for a 1-bedroom apartment is $900. Midtown sees average rents of $1,224 for a 1-bedroom unit. Idlewild Historic District offers similar appeal with 1-bedroom apartments averaging $1,150. For those seeking other popular areas, Binghampton presents 1-bedroom apartments at $839, and Voillintine - Evergreen at $1,075. These prices are set against the backdrop of the city-wide average of $990 for a 1-bedroom apartment in Memphis, underscoring the popularity of these particular neighborhoods.

NeighborhoodStudio Avg RentAnnual Change
East Memphis$1,859-9%
Southwind$1,554-2%
Medical District$1,422--
The Core$1,292-1%
Mid - Second$1,2920%
Downtown$1,260-2%
Central Gardens$1,0500%
Midtown$975-8%
Voillintine - Evergreen$975--
South Main$925-24%
Idlewild Historic District$900-14%
Parkway Village$825-50%
Hickory Hill$825-50%
Evergreen Historic District$800--
Uptown$7600%
Neighborhood1 Bed Avg RentAnnual Change
Mid - Second$1,695+1%
East Central Shelby$1,654-2%
Gray's Creek$1,654-2%
Southwind$1,624-2%
Countrywood$1,545+30%
Richwood$1,3090%
High Point Terrace$1,250--
Midtown$1,224-4%
The Core$1,207-47%
Downtown$1,203-5%
Idlewild Historic District$1,150-8%
Frayser$1,125+42%
Voillintine - Evergreen$1,075--
South Main$1,025-14%
Central Gardens$985-18%
Uptown$975+13%
Medical District$900+44%
Evergreen Historic District$900+1%
Hickory Hill$897+3%
Parkway Village$890+4%
North Memphis$875--
UDistrict$839-9%
Binghampton$839--
East Memphis$835-23%
Fox Meadows$830+19%
Whitehaven$819+20%
Normal Station$800-16%
Raleigh$760+3%
Colonial Willow$745+19%
Southeast Memphis$728-1%
Autumn Ridge$7170%
North Parkway Village$550-15%
Neighborhood2 Beds Avg RentAnnual Change
Mid - Second$1,890--
Southwind$1,8220%
East Central Shelby$1,741-10%
Gray's Creek$1,741-10%
Walnut Grove$1,700--
The Core$1,657+1%
Countrywood$1,635+21%
Richwood$1,5190%
Central Gardens$1,500-2%
Idlewild Historic District$1,450-2%
South Main$1,400-32%
Midtown$1,350-8%
Voillintine - Evergreen$1,350--
Downtown$1,2600%
Bridgewater$1,250--
Uptown$1,195+5%
High Point Terrace$1,175+2%
Annesdale Park$1,095-22%
Hickory Hill$1,047+1%
Parkway Village$1,010+7%
UDistrict$1,0020%
Binghampton$1,002--
Medical District$1,000-9%
Fox Meadows$999+12%
Whitehaven$979+16%
Normal Station$975+23%
Frayser$960+21%
Southeast Memphis$952+16%
Raleigh$950+15%
Crosstown$9250%
Evergreen Historic District$895-55%
Northeast Memphis$895--
Autumn Ridge$8720%
East Memphis$845-11%
Colonial Willow$845+17%
Berclair$825--
South Memphis$745+62%
North Parkway Village$665-11%
North Memphis$6250%

Transportation

Commute Time

0-15 Mins

24%

15-30 Mins

49%

30-40 Mins

18%

40-60 Mins

6%

60+ Mins

2%

Transportation Scores

Percentage: 4141

Walk Score®

Walkable

No

Say 93 of 131 renters

Has Sidewalks

Yes

Say 85 of 131 renters

Percentage: 4848

Bike Score®

Bike Friendly

No

Say 66 of 131 renters

Area Amenities

Top Score

Grocery Stores

4.5/5 stars based on undefined reviews

There are some super markets around here.

  1. A high number of grocery stores per resident
  2. Significantly more grocery stores than average
  3. 25% more grocery stores than areas of a similar size

Restaurants

4.5/5 stars based on undefined reviews

Great service and no need for reservations. A great place for food.

  1. Few restaurants per resident
  2. Significantly more restaurants than average
  3. 13% fewer restaurants than areas of a similar size

Retail Shops

4.5/5 stars based on undefined reviews

A shopaholic favorite. Memphis has a lot of style.

  1. A high number of shops per resident
  2. Significantly more shops than average
  3. 31% more shops than areas of a similar size

Pet Services

4.5/5 stars based on undefined reviews

Memphis is real pawsitive for your pets.

  1. A high number of pet facilities per resident
  2. Significantly more pet facilities than average
  3. A standard number of pet facilities compared to areas of a similar size

Gas Stations

4.5/5 stars based on undefined reviews

You won't have to drive far to fill up around here.

  1. A high number of gas stations per resident
  2. Significantly more gas stations than average
  3. 56% more gas stations than areas of a similar size

Parks

4/5 stars based on undefined reviews

Memphis is prime for park lovers.

  1. A high number of parks per resident
  2. Significantly more parks than average
  3. 16% more parks than areas of a similar size

Nightlife

3.5/5 stars based on undefined reviews

The perfect place to paint the town red.

  1. Few bars and clubs per resident
  2. Significantly more bars and clubs than average
  3. 49% fewer bars and clubs than areas of a similar size

Health and Fitness

3.5/5 stars based on undefined reviews

Looking good! Memphis scores high for health and fitness.

  1. Few gyms per resident
  2. Significantly more gyms than average
  3. 32% fewer gyms than areas of a similar size

Fine Arts

3.5/5 stars based on undefined reviews

Memphis draws a crowd for its fine art.

  1. Few fine art centers per resident
  2. Significantly more fine art centers than average
  3. 35% fewer fine art centers than areas of a similar size

Coffee

3/5 stars based on undefined reviews

Things are heating up. Memphis gets a solid score for coffee.

  1. Few coffee shops per resident
  2. Significantly more coffee shops than average
  3. 49% fewer coffee shops than areas of a similar size

Medical Care

3/5 stars based on undefined reviews

More of a gem than germ, this Memphis is not too bad for medical care.

  1. Few medical facilities per resident
  2. Significantly more medical facilities than average
  3. 44% fewer medical facilities than areas of a similar size

Area Features

Area Has Litter

No

Say 114 of 131 renters

Good Place To Raise A Family

Yes

Say 104 of 131 renters

Busy Streets

No

Say 101 of 131 renters

Area Has Potholes

No

Say 99 of 131 renters

Noise Late At Night

No

Say 95 of 131 renters

Mostly Older Buildings

No

Say 91 of 131 renters

Pet Friendly

Yes

Say 86 of 131 renters

Near Grocery Stores

Yes

Say 85 of 131 renters

Near Schools

Yes

Say 76 of 131 renters

Area Has Kids Play Outside

Yes

Say 74 of 131 renters

Quiet Area

Yes

Say 74 of 131 renters

Safe For Families

Yes

Say 74 of 131 renters

Maintained Yards

Yes

Say 70 of 131 renters

Nearby Parks

No

Say 71 of 131 renters

Well Lit

No

Say 75 of 131 renters

Near Highways

No

Say 90 of 131 renters

Tree Lined Streets

No

Say 90 of 131 renters

Mostly Newer Buildings

No

Say 107 of 131 renters

Nice Views

No

Say 107 of 131 renters

Near Downtown

No

Say 110 of 131 renters

Schools

Percentage: 3/53/5

School Score

How satisfied do renters feel with the schools in this area.

Top Schools in Memphis

Information provided by GreatSchools. To verify school enrollment eligibility, contact the school district directly.

Find Apartments in Nearby Cities

City1 Bed Price2 Beds Price
Memphis, TN$990$1,082
Southaven, MS 11.3 miles$1,321$1,436
Cordova, TN 15.4 miles$1,388$1,725
Olive Branch, MS 18 miles$1,210$1,900
Bartlett, TN 10.6 miles------
West Memphis, AR 7.7 miles------
Germantown, TN 14.2 miles$1,554$1,884
Robinsonville, TN 3.9 miles------
Collierville, TN 23 miles$1,484$1,719
Horn Lake, MS 13.4 miles$1,386$1,532