Memphis is the 47th largest multifamily market with 100,840 completed units and 18,332 units in development, 5,367 of which have already broken ground, as of December 2021.
Memphis Multifamily Market Summary – December 2021
New lease asking rents are at $1,065, up 12.6%▲
from the previous year placing Memphis at 47th
overall in year-over-year rent growth.