Rich in cultural history, Memphis is best known as the home of the blues and the birthplace of rock ‘n’ roll. The Bluff City has since transformed into a thriving commercial center, featuring three Fortune 500 companies and a complete revitalization of Downtown.
With one of the best renter’s markets in the country, we’re here to help you find the perfect neighborhood to call home.
We combed through Google data using generic keyword searches and combined those results with the most searched Memphis neighborhoods on ApartmentGuide.com to determine the five most popular Memphis neighborhoods with renters.
Most Popular Memphis Neighborhoods
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Here is a quick overview of each neighborhood and what you’d expect to pay for rent in each area.
1. Downtown
Downtown Memphis borders the Mississippi River and is home to the city’s top entertainment attraction: Beale Street. You’ll find plenty of locals and tourists enjoying this walkable stretch while visiting the huge array of bars, restaurants and nightclubs. Downtown is popular with young professionals and empty nesters who don’t mind apartment living. The rent here is higher than the citywide average.
| Property Size | Downtown Average | Memphis Average |
|---|---|---|
| 1 BR | $1,032 | $867 |
| 2 BR | $1,478 | $1,076 |
2. Midtown
Just east of Downtown Memphis, Midtown is an artsy, eclectic community. Areas such as Overton Square and Cooper-Young are filled with a diverse collection of shops, restaurants (Payne’s BBQ is a must) and nightlife options. The proximity to Overton Park, which includes the Memphis Zoo and a concert venue, makes Midtown a great neighborhood for families, Millennials and everyone in between. The rent here is also very reasonable.
| Property Size | Midtown Average | Memphis Average |
|---|---|---|
| 1 BR | $838 | $867 |
| 2 BR | $1,098 | $1,076 |
3. Mud Island
With direct access from Downtown Memphis, Mud Island is a small peninsula with a tightly-knit group of residents. Featuring boutique shops and restaurants, the crown jewel of this neighborhood is the Mud Island River Park. This green space has bike trails, pedal boats and a 5,000-seat amphitheater where you can catch a free concert during the summer. With all the nearby amenities, expect rent prices here to be much higher than the citywide average.
| Property Size | Mud Island Average | Memphis Average |
|---|---|---|
| 1 BR | $1,176 | $867 |
| 2 BR | $1,745 | $1,076 |
4. Raleigh
Raleigh is a diverse community situated northeast of the city center. This large neighborhood is the only suburban area on our list and offers a wide variety of retail and dining options with quick access to Downtown for commuters. Rent here is very affordable and choices include everything from studio apartments to single-family homes. The bargain rent also makes Raleigh popular with young families.
| Property Size | Raleigh Average | Memphis Average |
|---|---|---|
| 1 BR | $559 | $867 |
| 2 BR | $666 | $1,076 |
5. Central Gardens
Located in the center of Midtown, Central Gardens is a beloved neighborhood listed on the National Register of Historic Places. This residential community is filled with single-family homes initially built in the early 20th century. With its quaint and serene atmosphere, Central Gardens is popular with families and retirees. Rent here is very similar to the citywide average.
| Property Size | Raleigh Average | Memphis Average |
|---|---|---|
| 1 BR | $831 | $867 |
| 2 BR | $1,117 | $1,076 |
The rent information included in this article is based on current rental property inventory on ApartmentGuide.com and is used for illustrative purposes only. The data contained herein do not constitute financial advice or a pricing guarantee for any apartment.