Townhomes For Rent in 38118

12 rentals

Apartments For Rent Near 38118

We found 30 more apartments matching your filters just outside 38118

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 increased in May 2026 compared to the previous month. Rent previously peaked in Dec 2025.
MonthAverage rent
Jun 2025$750
Jul 2025$925
Aug 2025$695
Sep 2025$695
Oct 2025$950
Nov 2025$975
Dec 2025$1,000
Jan 2026$1,000
Feb 2026$875
Mar 2026$895
Apr 2026$895
May 2026$950
View as a graph

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 bed2 beds3 beds4 bedsAll
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 Townhomes for rent in 38118

  • 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 Aug 2025 when it was $695 per month.
  • When is the average rent most expensive in 38118?
    In the last year, the average rent in 38118 was highest in Dec 2025 when it was $1,000 per month.
  • How many townhomes are available to rent in 38118?
    There are 6 available townhomes to rent 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.