In June 2019, average rent for a one-bedroom Memphis apartment was about $800. Three years — and a pandemic — later, renting a one-bedroom in the city costs upwards of $1,000, as the local rental market continues its record-breaking streak.
As of June 21, 2022, Zumper data showed that the average rent for a studio apartment in Memphis was up 14% from the month prior. Rent for a one-bedroom apartment shot up by 17%, to $1,047, and a two-bedroom increased by 5%, to $1,000.
