Cheap Apartments for Rent in 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 Sep 2026 compared to the previous month. Rent previously peaked in May 2025.
| Month | Average rent |
|---|---|
| Oct 2025 | $1,250 |
| Nov 2025 | $1,245 |
| Dec 2025 | $1,200 |
| Jan 2026 | $1,225 |
| Feb 2026 | $1,225 |
| Mar 2026 | $1,220 |
| Apr 2026 | $1,220 |
| May 2026 | $1,200 |
| Jun 2026 | $1,225 |
| Jul 2026 | $1,200 |
| Aug 2026 | $1,275 |
| Sep 2026 | $1,245 |
Average Rent By Bedroom and Home Type
In September 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 | $675 | $950 | $1,245 | $1,450 | $1,195 |
| Townhomes | — | $995 | $995 | — | $995 |
| Apartments and Condos | $600 | $975 | $1,150 | — | $800 |
| Houses | — | $1,050 | $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 $859 per month. This is about 56% lower than the national average.
- What are the cheapest months to find an apartment to rent in 38118?Last year, the cheapest month to find an apartment to rent was Jan 2025 when it was $1,185 per month.
- How many cheap apartments are available in 38118?There are 56 apartments to rent that are cheaper than the city’s average rent of $1,195.
- 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 $675 per month. That is about $525 more than the cost of a studio apartment.
- 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.
View this page in Spanish: Apartamentos baratos en renta en 38118 - 380 Rentas | Trulia