How to Price Your Airbnb in Memphis: The Complete 2026 Guide

Memphis is a unique market where blues, barbecue, and big events drive demand year-round. This guide covers everything you need to set competitive rates and maximize revenue for your short-term rental.

Understanding the Memphis Short-Term Rental Market

• Memphis attracts a blend of leisure travelers visiting Graceland and Beale Street, plus business travelers attending conferences at the Renasant Convention Center.
• The market has seen steady growth in listings, but demand remains strong due to limited hotel supply in popular neighborhoods like Midtown and Downtown.
• Average daily rates in Memphis tend to be lower than Nashville but offer higher occupancy during seasonal peaks and major events.
• Guests often book last-minute, so a dynamic pricing strategy is essential to capture demand spikes from concerts and sports events.
• Local hosts report that properties with unique features—like a backyard, pool, or historic charm—command a premium over standard apartments.

Memphis's Seasonal Pricing Calendar

Peak Season

Rate: 1.5x to 2x your base rate. This runs from mid-March through May and again in October, when weather is perfect for outdoor festivals like Beale Street Music Fest and BBQ Fest.

High Season

Rate: 1.2x to 1.5x your base rate. Summer months (June through August) see steady family travel to attractions like the Memphis Zoo and the Mississippi River, but competition is higher.

Shoulder Season

Rate: 1.0x to 1.2x your base rate. September and early November offer mild weather and fewer crowds, making it a solid period for leisure travelers seeking lower prices.

Low Season

Rate: 0.7x to 0.9x your base rate. December through February (excluding holidays) sees the lowest demand, with cold weather and fewer events—perfect for maintenance or offering deep discounts.

Event-Specific Pricing Windows

• Memphis in May (entire month): Rates can spike 2x to 3x during Beale Street Music Fest and World Championship BBQ Cooking Contest, so book early.
• Martin Luther King Jr. Day (January): The National Civil Rights Museum draws crowds, pushing rates up 1.5x for the long weekend.
• Southern Heritage Classic (September): This football rivalry between Jackson State and Tennessee State brings thousands of visitors, boosting rates 1.5x to 2x near the Liberty Bowl.

Setting Your Base Rate in Memphis

Build Your Comp Set

Identify 10 to 15 similar listings within a 1-mile radius that match your property type, size, and amenities. Use tools like AirDNA or the Airbnb calendar to see their booked dates and nightly rates.

Neighbourhood Matters in Memphis

• Downtown Memphis: Close to Beale Street, the FedExForum, and the riverfront—commands the highest rates, often 20-30% above the city average.
• Midtown: Artsy and walkable near Overton Square and the Memphis Zoo—rates are moderate but occupancy stays high year-round.
• Cooper-Young: A trendy historic district with local shops and restaurants—rates are similar to Midtown but with a more residential feel.
• East Memphis: Suburban area near the University of Memphis and corporate offices—ideal for business travelers, with steady weekday demand.
• South Main Arts District: A revitalized area with galleries and the historic Arcade Restaurant—rates are rising fast, especially during events.

Weekday vs Weekend Split

Set your weekday base rate for Sunday through Thursday, then apply a 25-40% premium for Friday and Saturday nights. Business travelers fill weekdays in East Memphis, while leisure guests drive weekend demand Downtown.

The New Listing Strategy

Start with a 20-30% discount below your target rate for the first month to attract initial reviews and build credibility. Once you have 5 to 10 positive reviews, gradually raise rates to match your comp set.

Memphis STR Regulations

Memphis requires all short-term rental hosts to obtain a Short-Term Rental Permit from the city, which includes a zoning check and annual fee. You must also collect and remit 9.25% in combined state and local sales taxes, plus a 5% hotel occupancy tax. Check our STR Regulation Finder for the latest requirements.

Pricing Mistakes Memphis Hosts Make

• Ignoring event calendars: Missing out on Memphis in May or FedExForum concerts by not adjusting rates weeks ahead leaves money on the table.
• Setting one rate all year: Using a flat rate for every season causes low occupancy in winter and missed revenue during peak months.
• Underpricing for location: Listing a Downtown condo at the same rate as a Midtown apartment ignores the premium guests pay for proximity to Beale Street.
• Forgetting minimum night stays: Not requiring 2-3 night minimums during events like the Southern Heritage Classic leads to fragmented bookings and lost revenue.
• Neglecting cleaning fees: Setting a cleaning fee too high for a budget-friendly market like Memphis can scare off price-sensitive guests.

When to Switch to Dynamic Pricing in Memphis

If you are manually adjusting rates more than once a week or missing out on last-minute bookings during events, it is time to automate. Dynamic pricing software uses local demand data to optimize your rates daily, especially during unpredictable spikes like concerts or sports games.

Dynamic pricing tools like Beyond Pricing connect directly to your Airbnb calendar and adjust rates daily based on real-time demand data.

See our Analytics & Revenue Software directory for a full comparison of pricing tools to find the best fit for your Memphis property.

Quick-Start Memphis Pricing Checklist

• Research your comp set of 10-15 nearby listings
• Set a base rate for weekdays and weekends
• Apply seasonal multipliers for peak, high, shoulder, and low seasons
• Add event-specific pricing for Memphis in May, MLK Day, and Southern Heritage Classic
• Obtain your Memphis Short-Term Rental Permit
• Register to collect 14.25% in taxes (state, local, and hotel)
• Use our Airbnb Fee Calculator to understand your net payout
• Check our STR Profit Calculator to model revenue against costs
• Enable dynamic pricing software for real-time adjustments
• Review and update rates monthly based on booking pace

Frequently Asked Questions

What is the average nightly rate for an Airbnb in Memphis?
Typical rates range from $100 to $200 per night for a standard 1-2 bedroom property, with Downtown listings often exceeding $250 during peak events.

How do I handle last-minute bookings in Memphis?
Use dynamic pricing to drop rates 10-20% for bookings within 3 days, which captures impulse travelers visiting for concerts or weekend getaways.

Is it worth listing my Memphis Airbnb year-round?
Yes, but focus on low-season strategies like offering discounts for weekly stays or targeting business travelers near the airport and hospitals to maintain occupancy.

What taxes do I need to charge as a Memphis host?
You must collect a 9.25% sales tax and a 5% hotel occupancy tax, which can be remitted through platforms like Airbnb or directly to the city.

How can I stand out in a competitive Memphis neighborhood?
Highlight unique amenities like off-street parking, a fenced yard for pets, or proximity to local attractions like the Bass Pro Shops at the Pyramid to justify higher rates.