Cheap Apartments for Rent in 38115
99 rentals
Use arrow keys to navigateSPECIAL OFFERPET FRIENDLY$581 - $1,220/mo
Studio-3 Beds
1-3 BathsThe Residences at Lakeview | 2774 S Mendenhall Rd,
Memphis, TN 38115
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PET FRIENDLY$790 - $1,210/mo1-2 Beds1-2 BathsStoneridge at Germantown Falls | 6895 Club Ridge Cir,
Memphis, TN 38115
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PET FRIENDLY$895 - $1,130/mo1-3 Beds1-2 BathsCrossings at Fox Meadows | 2894 Putting Green Cv,
Memphis, TN 38115
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SPECIAL OFFERPET FRIENDLY$999 - $1,399/mo2-4 Beds2-3 BathsEmerald Square Apartments | 6082 Knightsbridge Dr,
Memphis, TN 38115
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Average Rent Trends in 38115
Rent in 38115 varies by number of bedrooms and home type. Use these charts to quickly see how rent changes.
Average rent increased in Oct 2026 compared to the previous month. Rent previously peaked in Mar 2025.
| Month | Average rent |
|---|---|
| Nov 2025 | $1,295 |
| Dec 2025 | $1,285 |
| Jan 2026 | $1,275 |
| Feb 2026 | $1,285 |
| Mar 2026 | $1,250 |
| Apr 2026 | $1,245 |
| May 2026 | $1,235 |
| Jun 2026 | $1,195 |
| Jul 2026 | $1,195 |
| Aug 2026 | $1,226 |
| Sep 2026 | $1,200 |
| Oct 2026 | $1,226 |
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 | $854 | $997 | $1,357 | $1,695 | $1,226 |
| Townhomes | — | $1,000 | $1,299 | $1,500 | $1,000 |
| Apartments and Condos | $650 | $995 | $1,226 | — | $995 |
| Houses | — | $1,150 | $1,493 | $1,745 | $1,518 |
Frequently Asked Questions about Rentals in 38115
- What is the average rent of an apartment in 38115?The average rent of an apartment in 38115 is $1,123 per month. This is about 42% lower than the national average.
- What are the cheapest months to find an apartment to rent in 38115?Last year, the cheapest month to find an apartment to rent was Oct 2025 when it was $1,250 per month.
- How many cheap apartments are available in 38115?There are 52 apartments to rent that are cheaper than the city’s average rent of $1,226.
- When is the average rent most expensive in 38115?In the last year, the average rent in 38115 was highest in Mar 2025 when it was $1,385 per month.
- How does the rent of a 1 bedroom apartment compare to a studio apartment in 38115?The average rent of a 1 bedroom apartment in 38115 is $854 per month. That is about $249 more than the cost of a studio apartment.
- What are some cities near 38115?Some nearby cities include: Germantown, Memphis, Olive Branch, Cordova, Southaven, Collierville. These cities may have more rental options to explore.
View this page in Spanish: Apartamentos baratos en renta en 38115 - 794 Rentas | Trulia