Cheap Apartments for Rent in 38116
79 rentals
Use arrow keys to navigateSPECIAL OFFERPET FRIENDLY$547 - $1,178/mo
Studio-4 Beds
1-2 BathsEmberly Apartments | 3619 Kingsgate Dr #3613-8,
Memphis, TN 38116
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Use arrow keys to navigatePET FRIENDLY$637 - $837/mo1-3 Beds1-2 BathsHillcrest Apartments | 4155 Eastwind Dr #2bcf4f564,
Memphis, TN 38116
Use arrow keys to navigateSPECIAL OFFERPET FRIENDLY$644 - $873/mo1-2 Beds1-2 BathsMill Creek Apartments | 4537 Mill Stream Dr #21462511,
Memphis, TN 38116
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PET FRIENDLY$850 - $995/mo2 Beds1 BathGraceland Flats Modern Living in the Heart of Whitehaven | 3990 Barton Dr #004efee6f,
Memphis, TN 38116
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PET FRIENDLY$899 - $950/mo2 Beds1 BathHolmes Pointe Apartments | 1594-1636 E Holmes Rd #d532365cf,
Memphis, TN 38116
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PET FRIENDLY$1,095 - $1,280/mo2-3 Beds2 BathsWilson Crossing Townhomes: Your Spacious, Two-Story Home in Whitehaven, Memphis! | 4907 Autumn Leaf Dr #68544F290,
Memphis, TN 38116
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Average Rent Trends in 38116
Rent in 38116 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 Apr 2025.
| Month | Average rent |
|---|---|
| Jun 2025 | $1,235 |
| Jul 2025 | $1,195 |
| Aug 2025 | $1,145 |
| Sep 2025 | $1,195 |
| Oct 2025 | $1,184 |
| Nov 2025 | $1,195 |
| Dec 2025 | $1,206 |
| Jan 2026 | $1,190 |
| Feb 2026 | $1,190 |
| Mar 2026 | $1,145 |
| Apr 2026 | $1,150 |
| May 2026 | $1,275 |
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 | $750 | $850 | $1,350 | $1,500 | $1,295 |
| Townhomes | — | — | — | $1,350 | $1,350 |
| Apartments and Condos | $750 | $770 | $1,090 | $892 | $800 |
| Houses | — | $1,210 | $1,400 | $1,550 | $1,435 |
Frequently Asked Questions about Rentals in 38116
- What is the average rent of an apartment in 38116?The average rent of an apartment in 38116 is $711 per month. This is about 63% lower than the national average.
- What is the average rent of a house in 38116?The average rent of a house in 38116 is $1,435 per month. This is about 26% lower than the national average.
- What is the average rent of a townhome in 38116?The average rent of a townhome in 38116 is $1,350 per month. This is about 30% lower than the national average.
- When is the average rent cheapest in 38116?In the last year, the average rent in 38116 was lowest in Aug 2025 when it was $1,145 per month.
- When is the average rent most expensive in 38116?In the last year, the average rent in 38116 was highest in Apr 2025 when it was $1,295 per month.
- How does the rent of a 1 bedroom apartment compare to a studio apartment in 38116?The average rent of a 1 bedroom apartment in 38116 is $750 per month. That is about $100 more than the cost of a studio apartment.
- How many available rental listings are in 38116?There are 85 available rental listings in 38116.
- What are some cities near 38116?