3-Bedroom Apartment Rent in Memphis, TN
Median asking rent for a 3-bedroom apartment in Memphis, Tennessee as of August 2026. That's +47% higher than the citywide median of $1,262 and +13% below the national 3-bedroom median of $2,130.
Income needed for a 3-bedroom in Memphis
Using the standard 30% rent-to-income guideline (the threshold above which households are considered rent-burdened), here's what you need to earn to comfortably afford a 3-bedroom at the current median rent.
Rent by apartment size in Memphis
Compare Memphis's median rent across every apartment size.
Cheapest cities for a 3-bedroom in Tennessee
| # | City | 3-Bedroom rent |
|---|---|---|
| 1 | Greeneville | $712 |
| 2 | Crossville | $874 |
| 3 | Morristown | $961 |
| 4 | Martin | $1,130 |
| 5 | Athens | $1,180 |
| 6 | Dyersburg | $1,190 |
| 7 | Tullahoma | $1,310 |
| 8 | Sevierville | $1,314 |
| 9 | Kingsport | $1,323 |
| 10 | Bristol | $1,340 |
| 11 | Cookeville | $1,380 |
| 12 | Manchester | $1,410 |
| 13 | Kingston | $1,430 |
| 14 | Johnson City | $1,473 |
| 15 | Red Bank | $1,559 |
Most expensive cities for a 3-bedroom in Tennessee
| # | City | 3-Bedroom rent |
|---|---|---|
| 1 | Farragut | $2,980 |
| 2 | Mount Juliet | $2,940 |
| 3 | Spring Hill | $2,810 |
| 4 | Thompsons Station | $2,709 |
| 5 | La Vergne | $2,640 |
| 6 | Germantown | $2,540 |
| 7 | Lakeland | $2,500 |
| 8 | Nashville | $2,498 |
| 9 | Franklin | $2,462 |
| 10 | Hendersonville | $2,390 |
| 11 | Bartlett | $2,380 |
| 12 | Collierville | $2,370 |
| 13 | Ooltewah | $2,360 |
| 14 | Arlington | $2,310 |
| 15 | Cordova | $2,290 |
Nearby cities — 3-bedroom rent
Considering nearby alternatives? 2 of these cities have cheaper 3-bedroom rents than Memphis.
| City | Distance | 3-Bedroom rent | vs Memphis |
|---|---|---|---|
| Germantown, TN | 10.2 mi | $2,540 | +$685 (+37%) |
| Bartlett, TN | 11.3 mi | $2,380 | +$525 (+28%) |
| Southaven, MS | 12.3 mi | $2,300 | +$445 (+24%) |
| Cordova, TN | 13.4 mi | $2,290 | +$435 (+23%) |
| Horn Lake, MS | 13.4 mi | $1,880 | +$25 (+1%) |
| Olive Branch, MS | 15.3 mi | $2,300 | +$445 (+24%) |
| Millington, TN | 15.9 mi | $1,800 | $-55 (-3%) |
| Lakeland, TN | 20.5 mi | $2,500 | +$645 (+35%) |
| Collierville, TN | 20.6 mi | $2,370 | +$515 (+28%) |
| Hernando, MS | 22.6 mi | $1,830 | $-25 (-1%) |
| Arlington, TN | 23.1 mi | $2,310 | +$455 (+25%) |
| Oakland, TN | 30.9 mi | $2,200 | +$345 (+19%) |
3-Bedroom rent in Memphis — common questions
How much is a 3-bedroom apartment in Memphis?
As of August 2026, the median 3-bedroom apartment rent in Memphis, Tennessee is $1,855 per month. This is +47% higher than the citywide median of $1,262.
What income do you need to afford a 3-bedroom in Memphis?
Using the standard 30% rent-to-income rule, you would need an annual income of about $74,200 ($6,183/month gross), which works out to roughly $35.67/hour at a full-time job.
Is Memphis expensive for a 3-bedroom compared to the rest of the US?
Memphis's 3-bedroom median of $1,855 is +13% below the national 3-bedroom median of $2,130. It ranks in the 36th percentile of US cities tracked.
How does Memphis rank for 3-bedroom rent in Tennessee?
Among the 62 cities in Tennessee with 3-bedroom data, Memphis ranks #30 from cheapest to most expensive.
Are there cheaper 3-bedroom options near Memphis?
Yes — nearby cities with cheaper 3-bedroom rents include Millington ($1,800), Hernando ($1,830).