In 2025, Memphis experienced a rise in apartment vacancy rates as the number of new units delivered exceeded leasing activity. This increase in available rental properties contributed to softer rent prices across the market. Developers have been adding new apartments at a pace faster than tenant demand, leading to a surplus of inventory.
Construction activity is expected to slow down in the coming months, which may help balance supply and demand. A reduced pace of new developments could stabilize vacancy rates and support rental price growth moving forward.
**Why this matters**
Rising vacancies and softer rents can impact landlords’ revenue and influence investment decisions in the Memphis rental market. For renters, increased availability may provide more options and potentially lower costs. Monitoring construction trends will be important to understand how the market adjusts in the near term.
Source: News Source