Luxury Apartments for Rent in 38114
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Average Rent Trends in 38114
Rent in 38114 varies by number of bedrooms and home type. Use these charts to quickly see how rent changes.
Average rent increased in May 2026 compared to the previous month. Rent previously peaked in Mar 2025.
| Month | Average rent |
|---|---|
| Jun 2025 | $1,025 |
| Jul 2025 | $1,000 |
| Aug 2025 | $1,075 |
| Sep 2025 | $1,050 |
| Oct 2025 | $995 |
| Nov 2025 | $1,050 |
| Dec 2025 | $1,050 |
| Jan 2026 | $1,035 |
| Feb 2026 | $1,040 |
| Mar 2026 | $1,095 |
| Apr 2026 | $1,030 |
| May 2026 | $1,100 |
Average Rent By Bedroom and Home Type
In May 2026, Townhomes were the most affordable home type to rent compared with Apartments and Condos and Houses.
| 1 bed | 2 beds | 3 beds | 4 beds | All | |
|---|---|---|---|---|---|
| All home types | $700 | $895 | $1,275 | $1,550 | $1,025 |
| Townhomes | $650 | $750 | $1,299 | $1,400 | $650 |
| Apartments and Condos | $750 | $825 | $1,200 | $1,500 | $750 |
| Houses | $750 | $900 | $1,275 | $1,550 | $1,300 |
Frequently Asked Questions about Rentals in 38114
- What is the average rent of an apartment in 38114?The average rent of an apartment in 38114 is $779 per month. This is about 60% lower than the national average.
- What is the average rent of a house in 38114?The average rent of a house in 38114 is $1,300 per month. This is about 33% lower than the national average.
- What is the average rent of a townhome in 38114?The average rent of a townhome in 38114 is $750 per month. This is about 61% lower than the national average.
- When is the average rent cheapest in 38114?In the last year, the average rent in 38114 was lowest in Oct 2025 when it was $995 per month.
- When is the average rent most expensive in 38114?In the last year, the average rent in 38114 was highest in Mar 2025 when it was $1,090 per month.
- How many available rental listings are in 38114?There are 201 available rental listings in 38114.
- What are some cities near 38114?Some nearby cities include: Memphis, Southaven, Horn Lake, West Memphis, Germantown, Cordova. These cities may have more rental options to explore.