Apartments in 38016

18 rentals

Apartments For Rent Near 38016

We found 30 more apartments matching your filters just outside 38016

Average Rent Trends in 38016

Rent in 38016 varies by number of bedrooms and home type. Use these charts to quickly see how rent changes.
Average rent stayed about the same in May 2026 compared to the previous month. Rent previously peaked in May 2025.
MonthAverage rent
Jun 2025$1,371
Jul 2025$1,477
Aug 2025$1,395
Sep 2025$1,485
Oct 2025$1,045
Nov 2025$1,423
Dec 2025$1,037
Jan 2026$1,352
Feb 2026$1,298
Mar 2026$1,258
Apr 2026$889
May 2026$889
View as a graph

Average Rent By Bedroom and Home Type

In May 2026, Apartments and Condos were the most affordable home type to rent compared with Townhomes and Houses.
1 bed2 beds3 beds4 bedsAll
All home types$1,222$1,345$1,850$2,307$1,983
Townhomes—$1,575$1,345—$1,575
Apartments and Condos——$1,495—$450
Houses$950$1,300$1,865$2,307$2,065

Frequently Asked Questions about Apartments and Condos for rent in 38016

  • What is the average rent of an apartment in 38016?
    The average rent of an apartment in 38016 is $889 per month. This is about 54% lower than the national average.
  • When is the average rent cheapest in 38016?
    In the last year, the average rent in 38016 was lowest in Dec 2025 when it was $1,037 per month.
  • When is the average rent most expensive in 38016?
    In the last year, the average rent in 38016 was highest in May 2025 when it was $1,576 per month.
  • How does the rent of a 1 bedroom apartment compare to a studio apartment in 38016?
    The average rent of a 1 bedroom apartment in 38016 is $1,222 per month. That is about $404 more than the cost of a studio apartment.
  • How many apartments or condos are available to rent in 38016?
    There are 17 available apartments or condos to rent in 38016.
  • What are some cities near 38016?
    Some nearby cities include: Cordova, Bartlett, Eads, Lakeland, Germantown, Arlington. These cities may have more rental options to explore.