Moving in or out mid-month in Memphis? Enter your monthly rent and date to calculate exactly what you owe for a partial month, with Tennessee deposit and notice rules for 2026.
Last updated: May 2026 · Data: MIT Living Wage Calculator, C2ER, U.S. Census, BLS, IRS, state and city sources
Prorated rent is what you pay for a partial month when you move in or out on a day other than the first. With average Memphis rent near $1,000/month, the standard method divides monthly rent by the days in the month and multiplies by days occupied. Tennessee sets no statutory cap on security deposits and requires the landlord to hold the deposit in a separate account. After move-out the landlord must provide a final accounting of any deductions, and if the tenant does not respond within 60 days the landlord may keep the balance. A 30-day written notice generally ends a month-to-month tenancy.
| Rule (Tennessee) | Detail |
|---|---|
| Average 1-bedroom rent | $1,000/month |
| Average 2-bedroom rent | $1,250/month |
| Security deposit limit | no statutory cap (set by lease) |
| Deposit return deadline | 30 days after move-out |
| Month-to-month notice | 30 days written notice |
| Standard proration formula | Rent ÷ days in month × days occupied |
Example: rent is $1,000, move-in is the 10th of a 30-day month, so 21 days remain. Prorated rent is ($1,000 ÷ 30) × 21 = $700.
Memphis sits on the Mississippi River and is a global logistics powerhouse, home to the FedEx world hub and Memphis International Airport (one of the busiest cargo airports on earth), along with healthcare, distribution, manufacturing, and a deep music heritage.
| Local Metric | Memphis (2026 estimate) |
|---|---|
| Metro population | 630,000 |
| County / jurisdiction | Shelby County |
| Cost of living index (US avg = 100) | 81 |
| MIT living wage, single adult | $19.00/hour |
| MIT living wage, one earner supporting a family of four | $38.50/hour |
| Applicable minimum wage | $7.25/hour |
| Average rent, 1-bedroom | $1,000/month |
| Average rent, 2-bedroom | $1,250/month |
| Median home price | $175,000 |
| Median household income | $48,000/year |
| Combined sales tax rate | 9.75% |
| Effective property tax rate | 1.3% of value/year |
Local figures are 2026 estimates compiled from the MIT Living Wage Calculator, the C2ER Cost of Living Index, U.S. Census and Zillow housing data, and city and county sources. Verify current figures before relying on them.
Divide your monthly rent by the number of days in the move-in month, then multiply by the days you occupy the unit. For example, $1,000 rent divided by 30 days times 15 days occupied is $500. Use the calculator above for your dates.
Average rent in Memphis is about $1,000/month for a 1-bedroom and $1,250 for a 2-bedroom, which is why getting proration right matters when you move mid-month.
In Tennessee the security deposit limit is no statutory cap (set by lease). The deposit must be returned within 30 days of move-out with an itemized statement of any deductions. Tennessee sets no statutory cap on security deposits and requires the landlord to hold the deposit in a separate account. After move-out the landlord must provide a final accounting of any deductions, and if the tenant does not respond within 60 days the landlord may keep the balance. A 30-day written notice generally ends a month-to-month tenancy.
In Tennessee, 30 days of written notice generally ends a month-to-month tenancy, though your lease may require more. Notice timing also affects your final prorated rent.
There is no statute mandating a specific proration method in Tennessee, but most landlords prorate as standard practice. Confirm the method in writing in your lease before signing to avoid disputes.