Apartments For Rent in 38118
130 rentals
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Use arrow keys to navigateSPECIAL OFFERPET FRIENDLY$1,055 - $1,360/mo
1-3 Beds
1-2 BathsOverton Gardens | 2760 Colony Park Dr #2153W-6,
Memphis, TN 38118
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Use arrow keys to navigateNEW - 1 DAY AGOPET FRIENDLY$850 - $1,005/mo1-2 Beds1-2 BathsGetwell Pointe Apartments | 2973-3007 Getwell Rd #2975-10,
Memphis, TN 38118
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Average Rent Trends in 38118
Rent in 38118 varies by number of bedrooms and home type. Use these charts to quickly see how rent changes.
Average rent decreased in May 2026 compared to the previous month. Rent previously peaked in May 2025.
| Month | Average rent |
|---|---|
| Jun 2025 | $1,250 |
| Jul 2025 | $1,245 |
| Aug 2025 | $1,250 |
| Sep 2025 | $1,245 |
| Oct 2025 | $1,250 |
| Nov 2025 | $1,245 |
| Dec 2025 | $1,200 |
| Jan 2026 | $1,225 |
| Feb 2026 | $1,225 |
| Mar 2026 | $1,223 |
| Apr 2026 | $1,225 |
| May 2026 | $1,200 |
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 | $652 | $995 | $1,250 | $1,450 | $1,200 |
| Townhomes | — | $950 | $1,125 | — | $950 |
| Apartments and Condos | — | $795 | $925 | — | $750 |
| Houses | — | $900 | $1,250 | $1,450 | $1,275 |
Frequently Asked Questions about Rentals in 38118
- What is the average rent of an apartment in 38118?The average rent of an apartment in 38118 is $860 per month. This is about 55% lower than the national average.
- What is the average rent of a house in 38118?The average rent of a house in 38118 is $1,275 per month. This is about 34% lower than the national average.
- What is the average rent of a townhome in 38118?The average rent of a townhome in 38118 is $950 per month. This is about 51% lower than the national average.
- When is the average rent cheapest in 38118?In the last year, the average rent in 38118 was lowest in Jan 2025 when it was $1,185 per month.
- When is the average rent most expensive in 38118?In the last year, the average rent in 38118 was highest in May 2025 when it was $1,307 per month.
- How does the rent of a 1 bedroom apartment compare to a studio apartment in 38118?The average rent of a 1 bedroom apartment in 38118 is $652 per month. That is about $502 more than the cost of a studio apartment.
- How many available rental listings are in 38118?There are 124 available rental listings in 38118.
- What are some cities near 38118?Some nearby cities include: Memphis, Southaven, Germantown, Horn Lake, Olive Branch, Nesbit. These cities may have more rental options to explore.