$0
Average Rent
$1,149 average rent in Memphis, Q1 2026
0%
Occupancy Rate
86% occupancy rate Memphis, Q1 2026
0
T4Q Net Absorption
613 T4Q net absorption in Memphis, Q1 2026
0%
Annual Rent Change
-1% annual rent change in Memphis, Q1 2026
0
BPS Annual Occupancy Change
-120 BPS annual occupancy change in Memphis, Q1 2026
0
T4Q Unit Completions
1,268 T4Q net absorption in Memphis, Q1 2026
KEY TAKEAWAYS
- Memphis absorbed 613 units on a trailing 12-month basis through Q1 2026, against 1,268 units delivered over the same period, an outpaced supply cycle that has sustained and kept occupancy under pressure.
- The under-construction pipeline has contracted 65% year-over-year, down to 524 units, representing just 0.5% of the metro’s 103,000-unit inventory.
- Average effective rents rose 1.3% quarter-over-quarter to $1,149, snapping two quarters of declines, though annual rents remain down 1.2% year-over-year.
MARKET OUTLOOK
The supply setup heading into the back half of 2026 is meaningfully more constructive than it was a year ago. The pipeline has…
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