Cheap Apartments for Rent in 38120

35 rentals

Apartments For Rent Near 38120

We found 30 more apartments matching your filters just outside 38120

Average Rent Trends in 38120

Rent in 38120 varies by number of bedrooms and home type. Use these charts to quickly see how rent changes.
Average rent stayed about the same in Oct 2026 compared to the previous month. Rent previously peaked in Aug 2025.
MonthAverage rent
Nov 2025$1,875
Dec 2025$1,750
Jan 2026$1,695
Feb 2026$1,600
Mar 2026$1,915
Apr 2026$2,030
May 2026$1,750
Jun 2026$1,695
Jul 2026$1,708
Aug 2026$1,800
Sep 2026$1,840
Oct 2026$1,850
View as a graph

Average Rent By Bedroom and Home Type

In October 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$1,237$1,338$1,862$2,200$1,862
Townhomes$950$1,250——$1,250
Apartments and Condos$1,065$1,075——$1,075
Houses—$1,773$1,862$2,200$2,200

Frequently Asked Questions about Rentals in 38120

  • What is the average rent of an apartment in 38120?
    The average rent of an apartment in 38120 is $1,251 per month. This is about 35% lower than the national average.
  • What are the cheapest months to find an apartment to rent in 38120?
    Last year, the cheapest month to find an apartment to rent was Apr 2025 when it was $1,696 per month.
  • How many cheap apartments are available in 38120?
    There are 17 apartments to rent that are cheaper than the city’s average rent of $1,862.
  • When is the average rent most expensive in 38120?
    In the last year, the average rent in 38120 was highest in Aug 2025 when it was $2,225 per month.
  • How does the rent of a 1 bedroom apartment compare to a studio apartment in 38120?
    The average rent of a 1 bedroom apartment in 38120 is $1,237 per month. That is about $572 less than the cost of a studio apartment.
  • What are some cities near 38120?
    Some nearby cities include: Germantown, Cordova, Memphis, Bartlett, Eads, Collierville. These cities may have more rental options to explore.
View this page in Spanish: Apartamentos baratos en renta en los alrededores de 38120 - 401 Rentas | Trulia