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 440
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
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
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
New
8583 BRER FOX CV
Rent to Own Eligible
Alliance of Cordova Neighborhoods
Single Family Home
Cordova, TN 38018
3
2
1501 ft2
1997
New
1 of 26 5741 BARFIELD CIR
Rent to Own Eligible
Sylvan Hills
Townhouse/Condo
Memphis, TN 38120
3
3
2056 ft2
1973
New
1324 BOYTE CV
Rent to Own Eligible
 
Single Family Home
Memphis, TN 38134
3
1
1158 ft2
1968
New
1 of 25 7725 GOSHAWK CV
Rent to Own Eligible
Hunters Hollow Neighborhoods Association
Single Family Home
Cordova, TN 38016
4
3
2616 ft2
1986
New
8387 OLD DEXTER RD
Rent to Own Eligible
 
Single Family Home
Cordova, TN 38016
3
2
1247 ft2
1992
257 PALISADE ST
Rent to Own Eligible
Joffre Area Ciivic Association
Single Family Home
Memphis, TN 38111
3
3
2466 ft2
1940
5320 BRENTON AVE
Rent to Own Eligible
Brenton
Single Family Home
Memphis, TN 38120
3
2
2201 ft2
1958
3710 NORTHWOOD DR
Rent to Own Eligible
High Point Terrace
Single Family Home
Memphis, TN 38111
3
2
1800 ft2
1947
New
1463 TEEKWOOD CV
Rent to Own Eligible
 
Single Family Home
Memphis, TN 38134
3
2
1902 ft2
1972
14 S HIGHLAND ST
Rent to Own Eligible
Red Acres Neighborhood Association
Single Family Home
Memphis, TN 38111
3
2
3009 ft2
1942
1 of 35 8819 BREDBURY CV E
Rent to Own Eligible
 
Single Family Home
Cordova, TN 38016
4
3
3163 ft2
1994
New
533 Cairn Drive Ext
Rent to Own Eligible
 
Single Family Home
Cordova, TN 38018
4
3
2223 ft2
1983
5200 RICH RD
Rent to Own Eligible
Normandy Meadows East
Single Family Home
Memphis, TN 38117
3
2
1270 ft2
1955
1 of 24 510 S GREER ST
Rent to Own Eligible
East Buntyn Neighborhood Association
Single Family Home
Memphis, TN 38111
2
1
1176 ft2
1930
1 of 21 3185 COWDEN AVE
Rent to Own Eligible
Joffre Area Ciivic Association
Single Family Home
Memphis, TN 38111
4
2
2082 ft2
1945
5127 TARRYTOWN DR
Rent to Own Eligible
Normandy Meadows East
Single Family Home
Memphis, TN 38117
2
2
1570 ft2
1958
1 of 39 1095 LINKS VIEW LN W
Rent to Own Eligible
Cordova Club Homeowners Association
Single Family Home
Cordova, TN 38018
3
3
3102 ft2
1999
Hot
3612 CARNES AVE
Rent to Own Eligible
Normal Station Neighborhood Association
Single Family Home
Memphis, TN 38111
2
1
1212 ft2
1927
New
8616 CEDAR FARMS DR
Rent to Own Eligible
 
Single Family Home
Cordova, TN 38016
4
4
4122 ft2
1989
747 OVERCUP OAKS CV
Rent to Own Eligible
Alliance of Cordova Neighborhoods
Single Family Home
Cordova, TN 38018
3
2
1815 ft2
1990
New
4751 BLACKISTON CV
Rent to Own Eligible
Coro Lake Property Owners Association
Single Family Home
Memphis, TN 38109
4
4
3060 ft2
1969
6938 LAGRANGE CIR N
Rent to Own Eligible
 
Single Family Home
Cordova, TN 38018
3
2
1086 ft2
1995
1 of 24 8437 BAZEMORE RD
Rent to Own Eligible
Walnut Grove Lake Homeowners Association
Single Family Home
Cordova, TN 38018
3
2
2247 ft2
1984
448 SWAN RIDGE CIR E
Rent to Own Eligible
High Point Terrace
Single Family Home
Memphis, TN 38122
3
1
1342 ft2
1948
1841 APPLING OAKS CIR
Rent to Own Eligible
 
Townhouse/Condo
Cordova, TN 38016
2
2
1516 ft2
2004
5259 SEQUOIA AVE
Rent to Own Eligible
Mary Lou Heights
Single Family Home
Memphis, TN 38120
3
2
1664 ft2
1955
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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.