Cheap Apartments for Rent in 38116
66 rentals
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Use arrow keys to navigateSPECIAL OFFERPET FRIENDLY$680 - $799/mo
1-2 Beds
1 BathGraceland Pointe Apartments: Modern Style, Excellent Value in Memphis | 1984 Bonnie Dr,
Memphis, TN 38116
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PET FRIENDLY$799 - $950/mo2 Beds1 BathGraceland Flats Modern Living in the Heart of Whitehaven | 3990 Barton Dr,
Memphis, TN 38116
SPECIAL OFFERPET FRIENDLY$800 - $900/mo1-2 Beds1 BathWelcome to Holmes Pointe Apartments! | 1594-1636 E Holmes Rd,
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 increased in Nov 2026 compared to the previous month. Rent previously peaked in Apr 2025.
| Month | Average rent |
|---|---|
| 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 |
| Sep 2026 | $1,221 |
| Oct 2026 | $1,215 |
| Nov 2026 | $1,295 |
Average Rent By Bedroom and Home Type
In November 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 | $708 | $866 | $1,328 | $1,695 | $1,295 |
| Apartments and Condos | $685 | $800 | $1,100 | — | $708 |
| Houses | — | $1,290 | $1,358 | $1,695 | $1,395 |
Frequently Asked Questions about Cheap Apartments for rent in 38116
- How many cheap apartments are for rent in 38116?Trulia currently lists 409 cheap apartments for rent in 38116.
- How much do cheap apartments in 38116 rent for?Rents for cheap apartments in 38116 range from $547 to $2,050 a month. Each listing shows its exact rent and any fees.
- How does Trulia decide which rentals are cheap?This page shows rentals in the lowest price tier for apartments in 38116, sorted from the lowest rent up.
- How can I find the cheapest apartments to rent in 38116?This page sorts apartments in 38116 from lowest rent up, starting at $547 a month. Filtering by fewer bedrooms or utilities included lowers costs further.
- What trade-offs come with the cheapest rentals?Lower rents often mean smaller units, older buildings, fewer amenities or a longer commute. Check what utilities are included to compare true cost.
View this page in Spanish: Apartamentos baratos en renta en 38116 - 403 Rentas | Trulia