Market Snapshot | Memphis Q2 2025

Market Overview

Memphis’s multifamily market showed early signs of stabilization in Q2 2025. Average rent came in at $1,168, while occupancy remained low at 87.2%, reflecting ongoing softness in certain submarkets. Net absorption recovered with 321 units absorbed in Q2 and 272 year-to-date, although completions in the first half reached 1,649 units—continuing to outpace demand. Annual rent growth was modest at 0.3%, and supply remains a headwind even as future deliveries are expected to slow.

About MMG

MMG Real Estate Advisors delivers multifamily market intelligence and strategic capital insights across key U.S. metros. Their quarterly reports provide a detailed look at rental trends, occupancy, absorption, and development pipelines—empowering investors, developers, and owners to make informed, regionally grounded decisions.