Cheap Apartments for Rent in 38103
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SPECIAL OFFERPET FRIENDLY$1,215 - $2,015/mo
Studio-2 Beds
1-2 BathsThe Peabody Collection Apartments | Gayoso Ave,
Memphis, TN 38103
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SPECIAL OFFERPET FRIENDLY$1,285 - $5,140/moStudio-2 Beds1-3 BathsThe Landing Residences | Doctor Martin Luther King Junior Ave,
Memphis, TN 38103
NEW - 13 HRS AGOSPECIAL OFFERPET FRIENDLY
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SPECIAL OFFERPET FRIENDLYTotal price$1,445 - $1,735/mo1-2 Beds1-2 BathsSouth Bluffs Apartments | Riverview Dr W,
Memphis, TN 38103
PET FRIENDLY$1,458 - $2,533/mo1-2 Beds1-2 BathsIsland Park/Harbor Town Square | Island Park 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 decreased in Jul 2026 compared to the previous month. Rent previously peaked in Aug 2025.
| Month | Average rent |
|---|---|
| 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 |
| Jun 2026 | $2,050 |
| Jul 2026 | $1,947 |
Average Rent By Bedroom and Home Type
In July 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 | $1,995 | $2,528 | $2,250 | $1,938 |
| Townhomes | — | $2,300 | — | — | $2,300 |
| Apartments and Condos | $1,550 | $2,000 | $2,800 | — | $1,750 |
| Houses | — | $2,300 | $2,400 | $2,250 | $2,400 |
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 $1,709 per month. This is about 12% lower 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 $215 more than the cost of a studio apartment.
- How many available rental listings are in 38103?There are 93 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.
View this page in Spanish: Apartamentos baratos en renta en 38103 - 317 Rentas | Trulia