Cheap Apartments for Rent in 38118
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NEW - 2 DAYS AGOSENIOR HOUSINGPET FRIENDLYINCOME RESTRICTED$840 - $1,004/mo
1-2 Beds
1 BathHickory Hollow Senior 55+ Apartments | 3930 Allenbrooke Cv,
Memphis, TN 38118
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NEW - 21 HRS AGOAPPLY INSTANTLYPET FRIENDLY
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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 stayed about the same in Nov 2026 compared to the previous month. Rent previously peaked in May 2025.
| Month | Average rent |
|---|---|
| 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 |
| Oct 2026 | $1,205 |
| Nov 2026 | $1,200 |
Average Rent By Bedroom and Home Type
In November 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 | $866 | $1,225 | $1,517 | $1,195 |
| Townhomes | — | $995 | — | — | $995 |
| Apartments and Condos | $600 | $1,000 | $1,215 | — | $900 |
| Houses | — | $950 | $1,250 | $1,517 | $1,278 |
Frequently Asked Questions about Cheap Apartments for rent in 38118
- How many cheap apartments are for rent in 38118?Trulia currently lists 431 cheap apartments for rent in 38118.
- How much do cheap apartments in 38118 rent for?Rents for cheap apartments in 38118 range from $150 to $5,000 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 38118, sorted from the lowest rent up.
- How can I find the cheapest apartments to rent in 38118?This page sorts apartments in 38118 from lowest rent up, starting at $150 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 38118 - 417 Rentas | Trulia