The Oliver Luxury Apartments
7 Vance Ave,
Memphis, TN 38103
$1,405 - $3,530 | Studio - 3 Beds
Downtown Memphis, also known as Downtown Riverside, rests along the banks of the mighty Mississippi River. Downtown Memphis is the city’s central business district, serving as an incubator for good ideas and great collaborations between established companies and rising startups.
History and entertainment abound in Downtown Mississippi, from the blues and soul clubs that line Beale Street to the powerful exhibits in the National Civil Rights Museum. The Rock n Soul Museum features interactive exhibits detailing the birth of rock and soul music while the Orpheum Theatre presents an array of musical and theatrical performances.
Downtown Memphis residents enjoy a broad range of cuisine, from down-home barbecue to Southern-inspired fine dining. The sense of community in Downtown Memphis is unparalleled, with plenty of cultural events bringing people together on a regular basis. Memphis in May celebrates the city’s heritage all month long, with numerous events like the Beale Street Music Festival and the World Championship Barbecue Cooking Contest.
As of March 2025, the average apartment rent in Downtown Memphis is $1,090 for a studio, $1,315 for one bedroom, $1,665 for two bedrooms, and $2,142 for three bedrooms. Apartment rent in Downtown Memphis has decreased by -0.9% in the past year.
Studio
576 sq ft
Average Sq Ft
$1,090/month
Average Rent
1 BR
779 sq ft
Average Sq Ft
$1,315/month
Average Rent
2 BR
1,109 sq ft
Average Sq Ft
$1,665/month
Average Rent
3 BR
1,422 sq ft
Average Sq Ft
$2,142/month
Average Rent
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† Our analysis of utilities, groceries, transportation, healthcare, home prices, and other goods and services is sourced from the Cost of Living Index, a respected benchmark published by the Council for Community and Economic Research (C2ER) that provides a thorough overview of living expenses across different regions.
Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
Consumer goods, services, and home prices are sourced from the Cost of Living Index published by the Council for Community and Economic Research (C2ER). The data on this page is updated quarterly. It was last published in February 2025.