Cheap Apartments for Rent in 38103
79 rentals
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Use arrow keys to navigatePET FRIENDLYINCOME RESTRICTED$900 - $1,200/mo
1-2 Beds
1 BathMerchants' & Cotton Exchange Apartments | 9 N 2nd St #46fdadf0f,
Memphis, TN 38103
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Use arrow keys to navigateSPECIAL OFFERPET FRIENDLY$999 - $1,610/moStudio-2 Beds1-2 BathsSouth Junction Apartments | 9 E Carolina Ave #0B-1Ba-430Sqft,
Memphis, TN 38103
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SPECIAL OFFERPET FRIENDLY$1,100 - $1,795/mo1-2 Beds1-2 BathsDowntown Memphis Flats | 105 S Main St #e50add262,
Memphis, TN 38103
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SPECIAL OFFERPET FRIENDLY$1,195 - $2,010/moStudio-2 Beds1-2 BathsThe Peabody Collection Apartments | 125 Gayoso Ave #521,
Memphis, TN 38103
SPECIAL OFFERPET FRIENDLY$1,220 - $4,700/moStudio-2 Beds1-3 BathsThe Landing Residences | 1 Doctor Martin Luther King Junior Ave #255,
Memphis, TN 38103
SPECIAL OFFERPET FRIENDLYTotal price$1,241 - $2,031/mo1-2 Beds1-2 BathsRiverset Apartments | 100 Riverset Ln #1089N153,
Memphis, TN 38103
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PET FRIENDLY$1,314 - $2,207/moStudio-2 Beds1-2 BathsThe Rise Apartments | 420 Monroe Ave #2208,
Memphis, TN 38103
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SPECIAL OFFERPET FRIENDLYTotal price$1,445 - $1,735/mo1-2 Beds1-2 BathsSouth Bluffs Apartments | 4 Riverview Dr W #1442625,
Memphis, TN 38103
SPECIAL OFFERPET FRIENDLY$1,445 - $5,900/mo1-3 Beds1-3 BathsThe Oliver Luxury Apartments | 7 Vance Ave #317,
Memphis, TN 38103
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PET FRIENDLY$1,633 - $1,961/mo1-2 Beds1-2 BathsIsland Park/Harbor Town Square | 1440 Island Park Dr #53-204,
Memphis, TN 38103
APPLY INSTANTLYSPECIAL OFFERPET FRIENDLYTotal price$1,650 - $1,700/mo1 Bed1 BathRiverLofts @ 460 Tennessee | 460 Tennessee St #313,
Memphis, TN 38103
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PET FRIENDLY$1,838 - $3,169/mo1-4 Beds1-3 BathsHarbor Island Apartments | 444 Island Dr #2-301,
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 decreased in May 2026 compared to the previous month. Rent previously peaked in Aug 2025.
| Month | Average rent |
|---|---|
| Jun 2025 | $1,900 |
| Jul 2025 | $1,885 |
| Aug 2025 | $2,154 |
| Sep 2025 | $1,995 |
| Oct 2025 | $2,076 |
| Nov 2025 | $2,095 |
| Dec 2025 | $1,985 |
| Jan 2026 | $1,800 |
| Feb 2026 | $1,749 |
| Mar 2026 | $1,769 |
| Apr 2026 | $1,990 |
| May 2026 | $1,784 |
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 bed | 2 beds | 3 beds | 4 beds | All | |
|---|---|---|---|---|---|
| All home types | $1,500 | $1,872 | $2,589 | $3,223 | $1,833 |
| Townhomes | — | $2,300 | $2,325 | — | $2,300 |
| Apartments and Condos | $1,590 | $1,850 | $2,950 | — | $1,750 |
| Houses | — | $2,650 | $2,589 | $3,495 | $2,578 |
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 $1,600 per month. This is about 17% lower than the national average.
- What is the average rent of a house in 38103?The average rent of a house in 38103 is $2,578 per month. This is about 34% higher than the national average.
- What is the average rent of a townhome in 38103?The average rent of a townhome in 38103 is $2,300 per month. This is about 19% higher than the national average.
- When is the average rent cheapest in 38103?In the last year, the average rent in 38103 was lowest in Jul 2025 when it was $1,885 per month.
- 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 $1,500 per month. That is about $405 more than the cost of a studio apartment.
- How many available rental listings are in 38103?There are 84 available rental listings in 38103.
- 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.