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Memphis apartment rents decline as high vacancy weighs on landlords

Improving demand outpaces new supply, but rent growth remains muted
Urban Loft Co., a 109-unit building in Memphis, opened last year and offers furnished apartments. (CoStar)
Urban Loft Co., a 109-unit building in Memphis, opened last year and offers furnished apartments. (CoStar)
CoStar Analytics
September 14, 2026 | 1:00 P.M.

Asking apartment rents in Memphis, Tennessee, declined for the second straight month, extending a late-summer slowdown and leaving rents essentially unchanged from a year earlier.

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