Can A Real Estate Agent Afford Rent in Memphis, TN?
Comfortably affordable — rent takes 25.1% of gross income.
Memphis rent: July 2026. Salary: BLS OEWS May 2024 (Tennessee state estimate).
About rent and a real estate agent salary
Real estate agent pay is commission-driven and varies widely with local market conditions. The BLS mean averages high and low producers. At the national-average agent salary, the 30% rule supports about $1,640 a month in rent — though successful agents in active markets earn well above this.
Cheaper rent nearby
These Tennessee cities have lower median rent than Memphis, which improves the affordability math on a real estate agent salary:
Compare with full rent data for Memphis
View full rent data for Memphis, TN →Frequently asked questions
Can a real estate agent afford rent in Memphis, TN?
Median rent in Memphis is $1,262 a month. A typical real estate agent in Tennessee earns about $60,334 a year, which makes that rent 25.1% of gross monthly income. Under the 30% rule, the answer is yes.
How much rent can a real estate agent afford in Memphis?
Using the 30% rule, a real estate agent salary in Tennessee (~$60,334/yr) supports up to $1,508 a month in rent. Memphis's current median rent is $1,262/mo, which leaves a $246/mo buffer.
How many hours does a real estate agent work to cover rent in Memphis?
At an hourly equivalent of about $29 an hour, a real estate agent in Tennessee works roughly 43.5 hours a month to cover Memphis's median rent of $1,262.
Where is rent cheaper than Memphis for a real estate agent?
Nearby Tennessee cities with lower median rent include Red Bank ($1,261/mo), Red Bank ($1,259/mo), Red Bank ($1,257/mo). Each shifts the affordability math materially on a real estate agent salary.