Luxury Apartments for Rent in 38120
43 rentals
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SPECIAL OFFER$1,255 - $2,105/mo
1-3 Beds
1-3 BathsArbors River Oaks Apartments | 225 Arbor Commons Cir,
Memphis, TN 38120
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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 increased in Sep 2026 compared to the previous month. Rent previously peaked in Aug 2025.
| Month | Average rent |
|---|---|
| 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 | $2,030 |
| May 2026 | $1,750 |
| Jun 2026 | $1,695 |
| Jul 2026 | $1,708 |
| Aug 2026 | $1,800 |
| Sep 2026 | $1,840 |
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 | $995 | $1,355 | $1,900 | $2,295 | $1,850 |
| Townhomes | $950 | $1,350 | $1,500 | — | $1,350 |
| Apartments and Condos | $950 | $1,249 | — | — | $1,195 |
| Houses | — | $1,595 | $1,900 | $2,295 | $2,278 |
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 $1,366 per month. This is about 30% 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 $995 per month. That is about $797 less than the cost of a studio apartment.
- How many available rental listings are in 38120?There are 45 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.
View this page in Spanish: Apartamentos de lujo en renta en 38120 - 89 Rentas | Trulia