Apartments Under $1,200 in Memphis, TN

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Apartments Under $1,200 in Memphis, TN

Search and browse 7143 apartments under $1,200 available for rent in Memphis, TN. With apartments that span the entire city, you will find an apartment in Memphis for just the right price. During your search, sort your favorite apartments under $1,200 by one of our listed amenities — covered parking, in-unit washer and dryer, a rooftop pool, a modern fitness center, an updated kitchen, energy efficient appliances, smart technology, online leasing, payments, and more. Want to tour a property? Schedule a tour online and you’ll be moving in to your new Memphis apartment before you know it.

Memphis:
August Rent Report

Welcome to the August 2020 Memphis Apartment Report. In this assessment of the local rental market, ABODO data scientists and rental experts break down the August 2020 key findings and figures for the Memphis rental landscape.

Our experts analyze the pricing trends — one-bedroom, two-bedroom, year-over-year and month-over-month — in Memphis and surrounding areas and provide comparisons to the entire metro area, nearby cities and some of the most desirable and expensive cities in the United States. Take a look at the last 12 months of Memphis rent prices in the chart below.

Monthly Rent Report

Memphis Rent Prices Increase From July to August

Memphis rent prices increased over the last month. From July to August, the city experienced a 1.87% increase for the price of a one-bedroom apartment. The rent price for a Memphis one-bedroom apartments currently stands at $870.0.

When we take a look at the two-bedroom comparison from July to August, Memphis experienced a 2.33% increase for the price of a two-bedroom apartment. The rent price for a Memphis two-bedroom apartments currently stands at $923.0.

August Prices: Memphis vs. Surrounding Areas

Rent Prices in Memphis and Surrounding Areas

Rent prices have increased in Memphis over the last month. But how have the surrounding areas fared when it comes to the recent volatility in apartment prices? Rent prices in 4 of the Memphis suburbs increased last month. On the other hand, 3 local areas experienced a decrease in the price of a one-bedroom apartment.

More key findings include:

  • Rent increased in Germantown, TN, Southaven, MS, Bartlett, TN, Horn Lake, MS .

  • Rent decreased in Cordova, TN, Collierville, TN, Robinsonville, MS.

  • 6 suburbs are currently priced higher than the city of Memphis.

  • 1 suburb is currently priced lower than the city of Memphis.

August 2020 Pricing Trends: Memphis vs. National Comparisons

Memphis Rent Prices More Affordable Than Major Cities

Rent growth in Memphis over the past year has been on the rise. When compared to major cities nearby, along with some of the most expensive cities in the country, Memphis rent prices appear to be relatively affordable for local residents.

The price for a Memphis one-bedroom apartment remains vastly more affordable than four of the largest cities in the United States — New York City, Washington, D.C. San Francisco and Los Angeles. And pricing compares quite similarly to nearby Midwest cities.

You can view the full rundown of ABODO's August 2020 National Apartment Report and data set here.

For more information about Memphis and surrounding area rent prices, take a look at the complete data set below.

Data set for Memphis and suburbs

1 BR August 1 BR M/M % Change 2 BR August 2 BR M/M % Change
Memphis, TN $854.0 1.67% $902.0 0.67%
Cordova, TN $1,035.0 -2.17% $1,167.0 -1.19%
Germantown, TN $1,122.0 0.45% $1,412.0 0.71%
Collierville, TN $1,033.0 -1.62% $1,292.0 -6.44%
Southaven, MS $1,028.0 0.29% $1,143.0 -0.52%
Robinsonville, MS $775.0 0.00% $875.0 0.00%
Bartlett, TN $1,172.0 1.65% $1,474.0 0.82%
Horn Lake, MS $1,008.0 2.02% $1,202.0 -0.58%

Methodology

Each month, using over 1 million ABODO listings across the United States, we calculate the median 1-bedroom and 2-bedroom rent prices by city, state, and nation, and track the month-over-month percent change. To avoid small sample sizes, we restrict the analysis for our reports to cities meeting minimum population and property count thresholds.