Memphis Apartments

Those new to the rental market haven’t yet discovered that for a dream Memphis apartment, you’ll need to have a dream salary as well. We don’t want to disappoint you, but we do want you to be prepared when you go out to rent for the first time. Once you realize how much that deck or extra bathroom is going to cost, you may not want it so badly anymore. At least you’ll have realistic expectations for what you can and can’t afford.

Type of Housing: High-rises are generally more expensive than low and mid-rises because they often have amenities like a doorman, elevators and a variety of centralized facilities. Of the low-rises, walk-ups and gardens are usually the least expensive.

Size: A large one-bedroom may cost you more than double a studio Memphis apartment in the same neighborhood.

Location: City units are usually more expensive than suburban and rural Memphis apartments but low-cost urban rentals are available, too. The Memphis apartment is likely to cost more if it is near retail and entertainment areas.

Number of Bedrooms: Plan on spending around 1/3 more for each bedroom.

Number of Bathrooms: Your selection will be very limited if you are looking for a bathroom for every bedroom. This floor plan is usually found only in high-end Memphis apartments.

Balcony, Deck, Patio or Porch: This is considered a luxury amenity and will be on the higher end of the rent scale. You may pay $200-300 more a month just for this feature.

Yard: You’ll find these in low-rise Memphis apartments and may share the space with others in the building. Yard availability is very limited, especially in urban areas.

Kitchen Amenities: New (or newer) appliances, marble countertops, dishwashers and the size of the kitchen will all make the unit more expensive.

Floor Type: Hardwood floors throughout the unit are usually the most expensive: certain kinds of tile will also increase the price of the Memphis apartment.

Laundry Facility: While some units do have an in-unit washer/dryer, most have central facilities for the whole building. Having access to the machines might add a small amount to the rent, even if the machines are coin-operated.

Fireplace: This feature usually accompanies an upscale unit so expect to pay premium rent if this is one of your top choices.

Workout Center: This is usually part of an upscale high-rise and also a premium rent feature. You may have to pay an extra fee to use the facility.

Parking: Parking is rarely included in the rent in urban Memphis apartments but often is in suburban ones. You can pay anywhere from $50-$500 for a monthly parking space, depending on the type (lot or covered) and the location.

Technology: This includes high-speed Internet and cable connections, or at least the hook-ups that make the technology less expensive to install. If your building offers these services, you will probably have to pay extra. Modern units are most likely to have this amenity.

Doorman: Having someone to open your door and greet your guests is obviously going to cost you. A doorman would be present in a high-rise building.

Elevator: This is included in the cost of a high-rise building Memphis apartment.

Special Offer/Willing to Negotiate: A special offer could be a discount for signing the lease early or a company promotion (just like a sale on sweaters).

Now you should be able to pick and choose which amenities are the most important to you. You will have to make the decision on what is best for you, what does not fit and what you would like but simply cannot afford.

It may be tough at first, but if you save up you can find that perfect Memphis apartment you have been hoping for.

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