How many apartments are available in 38117 on Rentable.co?

Rentable.co has 34 apartments available for rent in 38117.

What is the average rent for an apartment in 38117?

The average rent for an apartment in 38117 is around $1,420 per month.

What is the average rent for a two-bedroom apartment in 38117?

The average rent for a two-bedroom apartment in 38117 is around $1,325 per month.

What is the average rent for a one-bedroom apartment in 38117?

The average rent for a one-bedroom apartment in 38117 is around $1,090 per month.

Apartments in 38117

Memphis:
August Rent Report

Welcome to the August 2026 Memphis Apartment Report. In this assessment of the local rental market, Rentable data scientists and rental experts break down the August 2026 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

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1 BR 2 BR

Memphis Rent Prices Decrease From July to August

Memphis rent prices decreased over the last month. From July to August, the city experienced a 0% decrease for the price of a one-bedroom apartment. The rent price for a Memphis one-bedroom apartments currently stands at $.

When we take a look at the two-bedroom comparison from July to August, Memphis experienced a 0% decrease for the price of a two-bedroom apartment. The rent price for a Memphis two-bedroom apartments currently stands at $.

August Prices: Memphis vs. Surrounding Areas

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 0 of the Memphis suburbs increased last month. On the other hand, 0 local areas experienced a decrease in the price of a one-bedroom apartment.

More key findings include:

Rents did not increase in any of the Memphis suburbs
Rents did not decrease in any of the Memphis suburbs.

August 2026 Pricing Trends: Memphis vs. National Comparisons

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 August	1 BR M/M % Change	2 BR August	2 BR M/M % Change

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.