In Tennessee, renters in only two of the six examined cities could find more than 1,000 square feet of space for $1,500.

While the national median rent is $1,435, The Memphis, MS-TN-AR metro area has a median rent estimate of $1,077. The median cost for a studio locally is $733 compared to the national cost of $1,015.

In Tennessee, Memphis had the cheapest monthly rental for single-family homes at $1,482. Comparatively, Franklin was the most expensive place for monthly rent at $3,293.

Phoenix is also more expensive on nearly every front. The average rent is $1,646—over $300 higher than Memphis—and larger units easily push past $2,100 per month.

The agency studied housing in Tennessee's four largest cities -- Memphis, Nashville, Chattanooga and Knoxville -- comparing them to each other and to the state as a whole. The median monthly rent ...

Rent prices in Memphis remain cheaper than other notable Tennessee cities — including Nashville, according to data from Rent.com. The average rent for apartments in Memphis is currently between ...

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Phoenix is also more expensive on nearly every front. The average rent is $1,646—over $300 higher than Memphis—and larger units easily push past $2,100 per month.