Memphis Market Snapshot: Fall 2025
The Memphis rental market is cooling off as we head into fall — and not just because the temps are finally dipping below 90°.
According to Zillow, the average rent across all rental types in Memphis is $1,295, down $5 from last month and $55 lower than this time last year. There are over 5,000 available rentals across the city, with single family properties staying on the market an average of 55 days. The current Memphis market is officially labeled “Cool” by Zillow, which tracks renter demand nationwide.
Here’s the full local breakdown:
Apartments/Condos: $935 average rent (down $36/month, down $101/year)
Single-Family Homes: $1,398 average rent (down $2/month, down $12/year)
Why does this matter? While rents are still relatively strong, vacancies remain high and days on market are getting longer, especially as we leave the summer leasing season behind. Renters have more options — and they’re taking their time.
This is the time to double down on professional marketing, accurate pricing, and tenant retention. The properties that perform best in a cooler market are the ones that look good, feel good, and are priced right from day one.
Renters Are Still on the Move, But With New Priorities
Nationwide renter mobility is still high. In fact, August 2025 marked the 25th consecutive month of year-over-year rent declines for smaller rentals (0–2 bedrooms), and it’s the first month-over-month decline since March — a sign the seasonal slowdown is officially here.
National median rent dipped $38 year-over-year, while vacancy rates held steady at 6.9%, despite a modest increase in supply. That means more choices for renters, and more competition for owners. So why are renters moving? According a Realtor.com survey, here are the top reasons:
Renters are also willing to make sacrifices in order to get items on the top of their wish lists. Over 43% would move to a place with lower onsite services, while nearly 40% would move to a home that came with a longer commute to work.
The national market is softer than in recent years — but renter demand hasn’t gone away, it’s just shifting. Flexibility, pricing, and smart marketing matter more than ever.
Sources:
- https://www.realtor.com/research/august-2025-rent/
- https://www.zillow.com/rental-manager/market-trends/
Behind The Scenes at 901
This month, Jonathan and Kendall represented 901RES at the MAAR Cup, hosted by the Memphis Area Association of Realtors. We staffed a booth, mingled with local agents, and supported the event’s fun and competitive spirit. The MAAR Cup (which includes golf, tennis, pickleball, and more) raises funds for the MAAR Benevolent Fund and draws top Realtors and affiliates across the area.
More than just fun in the (very hot) sun, being at events like this reinforces our commitment to building relationships in the Realtor community. Every handshake, conversation, and connection helps us bring in more high-quality owner- and tenant-referrals.