Apartments in 38116

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1
Fantastic Whitehaven Apartment! Apartment for rent in Memphis, TN
$675
4050 Barton Dr Memphis, TN
1 BR | Ask for Availability
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1
Fantastic Whitehaven Apartment! Apartment for rent in Memphis, TN
$775
4028 Barton Dr Memphis, TN
2 BR | Ask for Availability
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1
1240 Laudeen Dr Apartment for rent in Memphis, TN
$775
Memphis, TN
2 BR | Ask for Availability
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1
Fantastic Whitehaven Apartment! Apartment for rent in Memphis, TN
$775
3949 Barton Dr Memphis, TN
2 BR | Ask for Availability
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1
Fantastic Whitehaven Apartment! Apartment for rent in Memphis, TN
$725
4070 Barton Dr Memphis, TN
2 BR | Ask for Availability
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1
Fantastic Whitehaven Apartment! Apartment for rent in Memphis, TN
$775
4040 Barton Dr Memphis, TN
2 BR | Ask for Availability
Contact
1
Fantastic Whitehaven Apartment! Apartment for rent in Memphis, TN
$775
3980 Barton Dr Memphis, TN
2 BR | Ask for Availability
Contact
1
3948 Royal Oaks Dr Apartment for rent in Memphis, TN
$775
Memphis, TN
2 BR | Ask for Availability
Contact
1
Fantastic Whitehaven Apartment! Apartment for rent in Memphis, TN
$775
4016 Barton Dr Memphis, TN
2 BR | Ask for Availability
Contact
$545 - 675
4537 Mill Stream Dr. Memphis, TN
1 - 2 BR | Available Now
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How much does it cost to rent an apartment in 38116?

38116 apartments
Bed Type Average Rent Range
1BR $690 $380 - $820
2BR $830 $630 - $1,120
3BR $1,400 $700 - $1,910
Find an Apartment in 38116
Are you on the hunt for apartments near 38116 Memphis, TN? Look no further than Rentable! Currently, there are 67 units available for rent in the 38116 zip code. The average rent for these apartments is $880, with 1-bedroom units starting at $380.

Whether you're searching for a studio, one-bedroom, or two-bedroom apartment, you'll find a variety of options to choose from in this area. Take advantage of the affordable rents and explore the 38116 apartments listed on Rentable to find your perfect match.

Make your move to the 38116 zip code today and enjoy the convenience of nearby shopping centers, restaurants, and entertainment venues. Don't wait any longer! Start your search for apartments for rent in 38116 Memphis, TN on Rentable now.

Memphis:
July Rent Report

Welcome to the July 2025 Memphis Apartment Report. In this assessment of the local rental market, Rentable data scientists and rental experts break down the July 2025 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
$0
Aug. 2024
Sep. 2024
Oct. 2024
Nov. 2024
Dec. 2024
Jan. 2025
Feb. 2025
Mar. 2025
Apr. 2025
May. 2025
Jun. 2025
Jul. 2025
1 BR       2 BR

Memphis Rent Prices Increase From June to July

Memphis rent prices increased over the last month. From June to July, the city experienced a 0.3% increase for the price of a one-bedroom apartment. The rent price for a Memphis one-bedroom apartments currently stands at $999.0.

When we take a look at the two-bedroom comparison from June to July, Memphis experienced a 1.05% increase for the price of a two-bedroom apartment. The rent price for a Memphis two-bedroom apartments currently stands at $1,156.0.

July Prices: Memphis vs. Surrounding Areas

Germantown, TN
Lakeland, TN
Collierville, TN
Southaven, MS
Cordova, TN
Horn Lake, MS
Memphis, TN
Marion, AR
$2,161
$1,808
$1,549
$1,466
$1,442
$1,377
$996
$804
$0
$750
$1,500
$2,250
$3,000
Median 1 BR Rent

Rent Prices in Memphis and Surrounding Areas

Rent prices have increased 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 5 of the Memphis suburbs increased last month. On the other hand, 2 local areas experienced a decrease in the price of a one-bedroom apartment.

More key findings include:

  • Rent increased in Cordova, TN, Collierville, TN, Southaven, MS, Horn Lake, MS, Germantown, TN .

  • Rent decreased in Lakeland, TN, Marion, AR.

  • 6 suburbs are currently priced higher than the city of Memphis.

  • 1 suburb is currently priced lower than the city of Memphis.

July 2025 Pricing Trends: Memphis vs. National Comparisons

New York, NY
San Francisco, CA
Washington, DC
Los Angeles, CA
Chicago, IL
Columbus, OH
Pittsburgh, PA
Minneapolis, MN
Memphis, TN
$4,074
$3,214
$2,367
$2,295
$1,876
$1,370
$1,312
$1,250
$996
$0
$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 on the rise. 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 July 1 BR M/M % Change 2 BR July 2 BR M/M % Change
Memphis, TN $996.0 -0.30% $1,144.0 -0.69%
Cordova, TN $1,442.0 0.77% $1,607.0 0.82%
Collierville, TN $1,549.0 2.65% $1,651.0 0.30%
Southaven, MS $1,466.0 6.46% $1,596.0 10.22%
Horn Lake, MS $1,377.0 0.07% $1,383.0 1.10%
Germantown, TN $2,161.0 1.22% $2,484.0 -0.68%
Lakeland, TN $1,808.0 -2.38% $2,202.0 2.66%
Marion, AR $804.0 -0.99% $950.0 0.00%

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.