Townhomes For Rent in 38118
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Apartments For Rent Near 38118
We found 30 more apartments matching your filters just outside 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 increased in May 2026 compared to the previous month. Rent previously peaked in Dec 2025.
| Month | Average 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 |
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 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.