How many apartments are available in 38103 on Rentable.co?

Rentable.co has 33 apartments available for rent in 38103.

What is the average rent for an apartment in 38103?

The average rent for an apartment in 38103 is around $1,380 per month.

What is the average rent for a one-bedroom apartment in 38103?

The average rent for a one-bedroom apartment in 38103 is around $1,195 per month.

What is the average rent for a two-bedroom apartment in 38103?

The average rent for a two-bedroom apartment in 38103 is around $1,550 per month.

What is the average rent for a studio apartment in 38103?

The average rent for a studio apartment in 38103 is around $999 per month.

Apartments in 38103

Memphis:
May Rent Report

Welcome to the May 2024 Memphis Apartment Report. In this assessment of the local rental market, Rentable data scientists and rental experts break down the May 2024 key findings and figures for the Memphis rental landscape.

Our experts analyze the pricing trends — one-bedroom, two-bedroom, year-over-year and month-over-month — in Memphis and surrounding areas and provide comparisons to the entire metro area, nearby cities and some of the most desirable and expensive cities in the United States. Take a look at the last 12 months of Memphis average rent prices in the chart below.

Monthly Rent Report

$1,250

$940

$630

$310

Mar. 2023

Apr. 2023

May. 2023

Jun. 2023

Jul. 2023

Aug. 2023

Sep. 2023

Oct. 2023

Nov. 2023

Dec. 2023

Jan. 2024

Feb. 2024

1 BR 2 BR

Memphis Rent Prices Decrease From April to May

Memphis rent prices decreased over the last month. From April to May, the city experienced a -0.62% decrease for the price of a one-bedroom apartment. The rent price for a Memphis one-bedroom apartments currently stands at $959.0.

When we take a look at the two-bedroom comparison from April to May, Memphis experienced a -0.09% decrease for the price of a two-bedroom apartment. The rent price for a Memphis two-bedroom apartments currently stands at $1,074.0.

May Prices: Memphis vs. Surrounding Areas

Germantown, TN

Cordova, TN

Collierville, TN

Horn Lake, MS

Southaven, MS

Memphis, TN

Millington, TN

$1,544

$1,476

$1,439

$1,314

$1,260

$953

$500

$550

$1,100

$1,650

$2,200

Median 1 BR Rent

Rent Prices in Memphis and Surrounding Areas

Rent prices have decreased in Memphis over the last month. But how have the surrounding areas fared when it comes to the recent volatility in apartment prices? Rent prices in 2 of the Memphis suburbs increased last month. On the other hand, 4 local areas experienced a decrease in the price of a one-bedroom apartment.

More key findings include:

Rent increased in Horn Lake, MS, Collierville, TN .
Rent decreased in Cordova, TN, Southaven, MS, Germantown, TN, Millington, TN.
5 suburbs are currently priced higher than the city of Memphis.
1 suburb is currently priced lower than the city of Memphis.

May 2024 Pricing Trends: Memphis vs. National Comparisons

New York, NY

San Francisco, CA

Washington, DC

Los Angeles, CA

Chicago, IL

Columbus, OH

Minneapolis, MN

Pittsburgh, PA

Memphis, TN

$4,056

$3,039

$2,377

$2,336

$1,913

$1,300

$1,283

$1,178

$953

$1,350

$2,700

$4,050

$5,400

Median Rent

Memphis Rent Prices More Affordable Than Major Cities

Rent growth in Memphis over the past year has been declining. When compared to major cities nearby, along with some of the most expensive cities in the country, Memphis average rent prices appear to be relatively affordable for local residents.

The price for a Memphis one-bedroom apartment remains vastly more affordable than four of the largest cities in the United States — New York City, Washington, D.C. San Francisco and Los Angeles. And pricing compares quite similarly to nearby Midwest cities.

For more information about Memphis and surrounding area rent prices, take a look at the complete data set below.

Data set for Memphis and suburbs

	1 BR May	1 BR M/M % Change	2 BR May	2 BR M/M % Change
Memphis, TN	$953.0	-0.52%	$1,068.0	-0.19%
Cordova, TN	$1,476.0	-0.14%	$1,624.0	-0.61%
Southaven, MS	$1,260.0	-0.79%	$1,457.0	1.39%
Horn Lake, MS	$1,314.0	0.84%	$1,428.0	-0.49%
Collierville, TN	$1,439.0	3.01%	$1,632.0	0.00%
Germantown, TN	$1,544.0	-0.07%	$1,845.0	0.55%
Millington, TN	$500.0	0.00%	$1,500.0	42.45%

Methodology

Each month, using over 1 million Rentable listings across the United States, we calculate the median 1-bedroom and 2-bedroom rent prices by city, state, and nation, and track the month-over-month percent change. To avoid small sample sizes, we restrict the analysis for our reports to cities meeting minimum population and property count thresholds.