Rent to own Homes in Memphis, TN

Memphis, Tennessee, is the largest city on the Mississippi River and the second-largest city in Tennessee. With a population of a little over 600,00, it still maintains a small town feel, thanks to its legendary Southern hospitality. One of the biggest draws to Memphis has always been music, and this is the city we can thank for several specific genres, including Rock 'n' Roll, Memphis Blues, Gospel, and even Crunk.

Memphis, TN is a great place for affordable rent-to-own homes! With a median household income of over $41,864 and a median rent of $915, the Memphis, TN rent-to-own market is more affordable than the traditional housing market which has shown tremendous growth across the U.S. and with it, aggressive competition for home purchases. With the current housing shortage trend it can make it harder to become a homeowner, including in Memphis, TN. This means higher than average down payments for homes and higher qualification standards for conventional home loans. With a rent-to-own property, tenants are also buyers. You can live in the house for a set amount of time before you purchase it, meaning that you get to know the house, your neighbors, and your community before making the final purchase. This enables you and your family to make the right choice based on both information and experience. Rent-to-own is also a great alternative way to get into a home if you have bad credit or don't have enough saved for a down payment.

Check out Memphis, TN rent to own homes for sale, which may include auction properties, for sale by owner, and more.
Showing 1 - 44 of 176
Hot
4048 WARD AVE
Rent To Own
Jackson
Single Family Home
Memphis, TN 38108
2
1
715 ft2
1951
5330 LAURIE LN
Rent To Own
White Station -Yates Neighborhood Association
Single Family Home
Memphis, TN 38120
4
1
2026 ft2
1955
5657 NORMANDY PL
Rent To Own
Sylvan Hills
Single Family Home
Memphis, TN 38120
3
3
2600 ft2
1961
6618 Chesapeake Dr
Rent To Own
 
Single Family Home
Memphis, TN 38122
3
2
1344 ft2
6861 CORAL HILL DR
Rent To Own
Easthill
Single Family Home
Bartlett, TN 38135
3
2
1541 ft2
1978
681 E DAVANT AVE
Rent To Own
Longview Heights Civic Club
Single Family Home
Memphis, TN 38106
2
1
953 ft2
1937
6040 SYON CV
Rent To Own
Balmoral Residents Association
Single Family Home
Memphis, TN 38119
4
3
2626 ft2
1971
3646 HAUGHTON LN #1
Rent To Own
Lantern Square Apartments
Townhouse/Condo
Memphis, TN 38128
3
3
1626 ft2
1974
4036 S WALNUT GROVE CIR
Rent To Own
Pidgeon Estates
Single Family Home
Memphis, TN 38117
3
2
2237 ft2
1950
4562 QUINCE RD
Rent To Own
Colonial Acres Neighborhood Association
Single Family Home
Memphis, TN 38117
3
1
1006 ft2
1952
222 GROVE DALE ST
Rent To Own
East Memphis
Single Family Home
Memphis, TN 38120
3
5
3309 ft2
1965
3412 LUZON DR
Rent To Own
Parkway Village
Single Family Home
Memphis, TN 38118
3
2
1400 ft2
1963
3630 CRESTWYN DR
Rent To Own
Lakes of Forest Hill
Single Family Home
Germantown, TN 38138
4
4
2803 ft2
1972
4886 Bilco Rd
Rent To Own
Coro Lake Property Owners Association
Single Family Home
Memphis, TN 38109
5
3
0 ft2
1960
7894 STATE LINE RD
Rent To Own
Lake Village Homeowners Association
Single Family Home
Memphis, TN 38125
3
3
1856 ft2
1962
2004 VAN BUREN AVE
Rent To Own
West Memphis
Single Family Home
West Memphis, AR 72301
3
2
1210 ft2
1972
Hot
8074 S REGIS PL
Rent To Own
Alliance of Cordova Neighborhoods
Single Family Home
Cordova, TN 38018
4
2
1944 ft2
1981
4313 MORGAN CV
Rent To Own
Olive Branch
Single Family Home
Olive Branch, MS 38654
4
2
2335 ft2
1995
4071 CAROLYN MITCHELL DR
Rent To Own
Olive Branch
Single Family Home
Olive Branch, MS 38654
5
3
2750 ft2
2018
1006 EMMIE ST
Rent to Own Eligible
Rozelle - Annesdale Area Association
Single Family Home
Memphis, TN 38114
2
2
1104 ft2
1930
405 S PERKINS RD
Rent to Own Eligible
Greenway Gardens Brennan
Townhouse/Condo
Memphis, TN 38117
2
2
1486 ft2
1989
1 of 15 382 HAYNES ST
Rent to Own Eligible
 
Single Family Home
Memphis, TN 38111
2
2
1323 ft2
1900
535 SAINT NICK DR
Rent to Own Eligible
Greenway Gardens Brennan
Single Family Home
Memphis, TN 38117
3
2
1766 ft2
1950
New
1 of 40 213 BLAIR DR
Rent to Own Eligible
 
Single Family Home
Marion, AR 72364
3
2
2053 ft2
1994
5033 WELCHSHIRE AVE
Rent to Own Eligible
East Memphis
Single Family Home
Memphis, TN 38117
3
2
1446 ft2
1954
4898 FLAMINGO RD
Rent to Own Eligible
Colonial Acres Neighborhood Association
Single Family Home
Memphis, TN 38117
2
2
1113 ft2
1954
87 W LAFAYETTE CIR
Rent to Own Eligible
Joffre Area Ciivic Association
Single Family Home
Memphis, TN 38111
2
2
1681 ft2
1941
3019 CHURCHILL ST
Rent to Own Eligible
Parkway Village
Single Family Home
Memphis, TN 38118
3
2
1591 ft2
1964
199 ALEXANDER ST
Rent to Own Eligible
Joffre Area Ciivic Association
Single Family Home
Memphis, TN 38111
2
1
1744 ft2
1941
New
8438 ROCKCREEK PKWY
Rent to Own Eligible
Countrywood Neighborhood Association
Townhouse/Condo
Cordova, TN 38016
3
3
1888 ft2
1973
1 of 51 801 KINGSWAY CV
Rent to Own Eligible
West Memphis
Single Family Home
West Memphis, AR 72301
4
3
3399 ft2
1979
5043 WHITEWATER CV
Rent to Own Eligible
East Memphis
Single Family Home
Memphis, TN 38117
3
2
1423 ft2
1956
New
4422 INDIAN TRAIL DR
Rent to Own Eligible
 
Single Family Home
Memphis, TN 38141
5
3
2969 ft2
1977
8366 EVERLY MEADOWS DR
Rent to Own Eligible
Lakes of Forest Hill
Single Family Home
Memphis, TN 38125
4
2
0 ft2
449 GREEN ACRES RD
Rent to Own Eligible
Winton
Single Family Home
Memphis, TN 38117
4
2
1956 ft2
1956
6164 AFTERNOON LN
Rent to Own Eligible
 
Single Family Home
Memphis, TN 38141
3
2
1499 ft2
1976
2073 YOUNG AVE
Rent to Own Eligible
Cooper Young Community Association
Single Family Home
Memphis, TN 38104
3
2
2011 ft2
1922
New
2750 TANGBOURNE DR
Rent to Own Eligible
East Memphis
Single Family Home
Memphis, TN 38119
4
2
2650 ft2
1974
New
2025 CROWN CV
Rent to Own Eligible
Countrywood Neighborhood Association
Single Family Home
Cordova, TN 38016
3
2
2310 ft2
1986
3790 MISTY OAK DR
Rent to Own Eligible
Windyke Area Neighborhood Association
Single Family Home
Memphis, TN 38125
4
2
2473 ft2
1978
New
3400 WRISTER CV
Rent to Own Eligible
 
Single Family Home
Bartlett, TN 38135
3
3
1706 ft2
1988
New
6368 KIRBY DOWNS DR
Rent to Own Eligible
Hickory Hill
Single Family Home
Memphis, TN 38115
2
3
1352 ft2
1984
2501 TARBET DR
Rent to Own Eligible
East Memphis
Single Family Home
Memphis, TN 38119
4
2
2163 ft2
1974
1 of 9 7155 RIVERDALE CV
Rent to Own Eligible
English Meadows
Single Family Home
Germantown, TN 38138
4
3
2969 ft2
1969
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Buying a Home in Memphis, TN

Memphis, TN is seeing rapid growth and Memphis, TN's' housing market remains optimal with an average home price that is -51% below the 2024 national average. Memphis, TN is part of Shelby county and taxes are an important factor to consider when purchasing a home whether through rent to own or a traditional purchase. The average tax rate as of 2024 for county Shelby is 1.38% which is above the national average, which is 0.99%.

Median Home Price in Memphis, TN

Median Rent in Memphis, TN

Rent to own homes offer low monthly payments and flexible terms.

Top Reasons to Live in Memphis TN

Housing Statistics The number of homes sold in Memphis in a recent 12-month period was 1,828. The average listing price was $178,093, but the the median home sale price was $99,500. The majority of residents -- 53.73% -- own their homes. Of those that do intend to rent--or rent to own--it's worth noting that the apartment vacancy rate hovers around 17.06%.

Local Events and Festivals If you are looking for a city with something to offer every member of your family, Memphis is just the place. The local events kick off in May each year with the Memphis in May Extravaganza. This is a month long event that features four main parts:

Nightlife Memphis really does have something for everyone and it's evident in the nightlife variety it offers. This city has far more than just bars and dance clubs. If you are looking for something musical, try B.B. King's Blues Club on Beale Street. You can get some great food and listen to incredible music at this friendly and inviting club. Dying to catch the big game? Try Brookhaven Pub and Grill on Brookhaven Circle. Fantastic food can be found here, with plenty of games on the large plasma screens.

Neighborhoods Memphis has many neighborhoods, each with unique features. Here, a few of the more notable ones within the city:

Memphis, TN Frequently Asked Questions

Like any city, there are safer parts than others. As of right now, the level of crime in Memphis is considered "very high," with crime steadily increasing over the past three years. Check out the safer areas like Midtown, Downtown, Oakland, Brighton, Munford, Millington, and Horn Lake.

In addition to music, BBQ, and other cultural attractions, Memphis also has affordable housing and great schools.

The median housing cost in Memphis, Tennessee, is $857,700.

Memphis has been historically attached to both music and food. Not only is Graceland, Elvis' home, a grand attraction, but people come from all over to listen to Soul, Blues, Jazz, and Rock in one of many of Memphis' music venues. The other thing Memphis is known for? BBQ! People travel from all over the world to taste Memphis' famous BBQ.