Average Rent in Memphis, AR↑ Rents rising 4.4% YoY🔺 Most expensive in AR

Memphis, AR has rental prices ranging from $1,105/month to $2,086/month in 2025, depending on unit size. The typical 1-bedroom apartment rents for $1,207/month — 14% below the national average of $1,400/month. With a median household income of $64,743/year, spending $1,207/month on a 1-bedroom represents 22% of gross income — within the recommended 30% threshold.

How Memphis Compares

With an average 2-bedroom rent of $1,355/month, Memphis ranks #1 most expensive of the 67 cities tracked in Arkansas — pricier than 88% of all US cities in our data.

The Memphis Rental Market

The Memphis, AR area has a population of about 1,341,606 and 39% of households renting rather than owning. That renter share runs above the US average of ~34%, pointing to a competitive rental market where vacancies clear quickly and rents are less negotiable.

Rent Trends

2-bedroom rents in Memphis, AR have risen by $57/month (4.4%) over the past year, from $1,298 to $1,355. This modest growth is consistent with broader inflationary trends seen across US rental markets.

Affordability

To afford a 1-bedroom apartment in Memphis, AR without exceeding the 30% housing cost guideline, a renter needs an annual income of approximately $48,280. The local median household income of $64,743 exceeds that threshold by $16,463, making Memphis relatively accessible compared to local wages.

Is Memphis, AR Affordable?

Income needed to rent or buy, price history, and how this city compares to nearby metros.

Rent or Buy in Memphis?

Break-even analysis and mortgage estimates based on local market data.

Living in Memphis

Cost of living, job market, crime rates, and moving cost estimates.