Cheap Apartments for Rent in 38103
82 rentals
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Use arrow keys to navigateSPECIAL OFFERPET FRIENDLY
Use arrow keys to navigatePET FRIENDLYINCOME RESTRICTED$900 - $1,200/mo
1-2 Beds
1 BathMerchants' & Cotton Exchange Apartments | 9 N 2nd St,
Memphis, TN 38103
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Use arrow keys to navigateSPECIAL OFFERPET FRIENDLY
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SPECIAL OFFERPET FRIENDLYTotal price$1,071 - $1,851/mo1-2 Beds1-2 BathsRiverset Apartments | 100 Riverset Ln,
Memphis, TN 38103
PET FRIENDLY
SPECIAL OFFERPET FRIENDLYFURNISHED
SPECIAL OFFERPET FRIENDLY
PET FRIENDLY$1,174 - $4,950/moStudio-2 Beds1-3 BathsThe Landing Residences | 1 Doctor Martin Luther King Junior Ave,
Memphis, TN 38103
PET FRIENDLY
PET FRIENDLYFURNISHED
PET FRIENDLY
SPECIAL OFFERPET FRIENDLY$1,213 - $1,718/moStudio-2 Beds1-2 BathsThe Peabody Collection Apartments | 125 Gayoso Ave,
Memphis, TN 38103
PET FRIENDLY$1,287 - $2,007/mo1-2 Beds1-2 BathsIsland Park/Harbor Town Square | 1440 Island Park Dr,
Memphis, TN 38103
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PET FRIENDLY
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SPECIAL OFFERPET FRIENDLY
SPECIAL OFFERPET FRIENDLY
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SPECIAL OFFERPET FRIENDLYTotal price$1,445 - $1,760/mo1-2 Beds1-2 BathsSouth Bluffs Apartments | 4 Riverview Dr W,
Memphis, TN 38103
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APPLY INSTANTLYPET FRIENDLY
PET FRIENDLY
PET FRIENDLY
APPLY INSTANTLYPET FRIENDLY
APPLY INSTANTLYFURNISHED
PET FRIENDLY
PET FRIENDLY
SPECIAL OFFERPET FRIENDLYTotal price$1,666 - $3,053/mo1-4 Beds1-3 BathsHarbor Island Apartments | 444 Island Dr,
Memphis, TN 38103
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Average Rent Trends in 38103
Rent in 38103 varies by number of bedrooms and home type. Use these charts to quickly see how rent changes.
Average rent stayed about the same in Oct 2026 compared to the previous month. Rent previously peaked in Aug 2025.
| Month | Average rent |
|---|---|
| Nov 2025 | $2,095 |
| Dec 2025 | $1,985 |
| Jan 2026 | $1,800 |
| Feb 2026 | $1,749 |
| Mar 2026 | $1,769 |
| Apr 2026 | $1,995 |
| May 2026 | $1,792 |
| Jun 2026 | $2,050 |
| Jul 2026 | $1,948 |
| Aug 2026 | $1,995 |
| Sep 2026 | $1,940 |
| Oct 2026 | $1,940 |
Average Rent By Bedroom and Home Type
In October 2026, Apartments and Condos were the most affordable home type to rent compared with Townhomes and Houses.
| 1 bed | 2 beds | 3 beds | 4 beds | All | |
|---|---|---|---|---|---|
| All home types | $1,415 | $2,140 | $2,550 | $3,395 | $2,078 |
| Townhomes | — | $2,300 | — | — | $2,300 |
| Apartments and Condos | $1,490 | $2,200 | $3,500 | — | $1,700 |
| Houses | — | $2,395 | $2,500 | $3,500 | $2,500 |
Frequently Asked Questions about Rentals in 38103
- What is the average rent of an apartment in 38103?The average rent of an apartment in 38103 is $2,023 per month. This is about 4% higher than the national average.
- What are the cheapest months to find an apartment to rent in 38103?Last year, the cheapest month to find an apartment to rent was Jul 2025 when it was $1,885 per month.
- How many cheap apartments are available in 38103?There are 48 apartments to rent that are cheaper than the city’s average rent of $2,078.
- When is the average rent most expensive in 38103?In the last year, the average rent in 38103 was highest in Aug 2025 when it was $2,154 per month.
- How does the rent of a 1 bedroom apartment compare to a studio apartment in 38103?The average rent of a 1 bedroom apartment in 38103 is $1,415 per month. That is about $308 more than the cost of a studio apartment.
- What are some cities near 38103?Some nearby cities include: West Memphis, Memphis, Marion, Sunset, Clarkedale, Jericho. These cities may have more rental options to explore.
View this page in Spanish: Apartamentos baratos en renta en 38103 - 280 Rentas | Trulia