Cheap Apartments for Rent in 38120

38 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 decreased in May 2026 compared to the previous month. Rent previously peaked in Aug 2025.
MonthAverage rent
Jun 2025$2,199
Jul 2025$2,150
Aug 2025$2,225
Sep 2025$2,034
Oct 2025$1,950
Nov 2025$1,875
Dec 2025$1,750
Jan 2026$1,695
Feb 2026$1,600
Mar 2026$1,915
Apr 2026$2,039
May 2026$1,750
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$1,206$1,295$2,000$2,800$1,800
Townhomes—$1,325——$1,325
Apartments and Condos$1,195$1,219——$1,200
Houses——$2,000$2,800$2,550

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 $1,283 per month. This is about 34% lower than the national average.
  • What is the average rent of a house in 38120?
    The average rent of a house in 38120 is $2,550 per month. This is about 32% higher than the national average.
  • What is the average rent of a townhome in 38120?
    The average rent of a townhome in 38120 is $1,325 per month. This is about 31% lower than the national average.
  • When is the average rent cheapest in 38120?
    In the last year, the average rent in 38120 was lowest in Apr 2025 when it was $1,696 per month.
  • 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 $1,206 per month. That is about $514 less than the cost of a studio apartment.
  • How many available rental listings are in 38120?
    There are 43 available rental listings in 38120.
  • 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.