Cheap Apartments for Rent in 38116
87 rentals
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Use arrow keys to navigateNEW - 2 DAYS AGOSPECIAL OFFERPET FRIENDLY$680 - $799/mo
1-2 Beds
1 BathGraceland Pointe Apartments: Modern Style, Excellent Value in Memphis | 1984 Bonnie Dr,
Memphis, TN 38116
Use arrow keys to navigateSPECIAL OFFERPET FRIENDLY$720 - $899/mo1-2 Beds1 BathWelcome to Holmes Pointe Apartments! | 1594-1636 E Holmes Rd,
Memphis, TN 38116
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PET FRIENDLY$775 - $895/mo2 Beds1 BathGraceland Flats Modern Living in the Heart of Whitehaven | 3990 Barton Dr,
Memphis, TN 38116
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PET FRIENDLY$1,170 - $1,280/mo2-3 Beds2 BathsWilson Crossing Townhomes: Your Spacious, Two-Story Home in Whitehaven, Memphis! | 4907 Autumn Leaf Dr,
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 decreased in Aug 2026 compared to the previous month. Rent previously peaked in Apr 2025.
| Month | Average rent |
|---|---|
| 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 |
| Jun 2026 | $1,220 |
| Jul 2026 | $1,295 |
| Aug 2026 | $1,204 |
Average Rent By Bedroom and Home Type
In August 2026, Apartments and Condos were the most affordable home type to rent compared with Houses.
| 1 bed | 2 beds | 3 beds | 4 beds | All | |
|---|---|---|---|---|---|
| All home types | $750 | $850 | $1,345 | $1,649 | $1,250 |
| Apartments and Condos | $750 | $850 | $950 | — | $809 |
| Houses | — | $1,090 | $1,395 | $1,730 | $1,400 |
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 $797 per month. This is about 59% 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 $203 more than the cost of a studio apartment.
- How many available rental listings are in 38116?There are 86 available rental listings in 38116.
- What are some cities near 38116?
View this page in Spanish: Apartamentos baratos en renta en 38116 - 503 Rentas | Trulia