How many apartments are available in 38114 on Rentable.co?

Rentable.co has 31 apartments available for rent in 38114.

What is the average rent for an apartment in 38114?

The average rent for an apartment in 38114 is around $970 per month.

What is the average rent for a two-bedroom apartment in 38114?

The average rent for a two-bedroom apartment in 38114 is around $815 per month.

What is the average rent for a one-bedroom apartment in 38114?

The average rent for a one-bedroom apartment in 38114 is around $725 per month.

Apartments in 38114

Memphis:
November Rent Report

Welcome to the November 2024 Memphis Apartment Report. In this assessment of the local rental market, Rentable data scientists and rental experts break down the November 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

$1,200

$900

$600

$300

Dec. 2023

Jan. 2024

Feb. 2024

Mar. 2024

Apr. 2024

May. 2024

Jun. 2024

Jul. 2024

Aug. 2024

Sep. 2024

Oct. 2024

Nov. 2024

1 BR 2 BR

Memphis Rent Prices Increase From October to November

Memphis rent prices increased over the last month. From October to November, the city experienced a 1.91% increase for the price of a one-bedroom apartment. The rent price for a Memphis one-bedroom apartments currently stands at $1,015.0.

When we take a look at the two-bedroom comparison from October to November, Memphis experienced a 1.7% increase for the price of a two-bedroom apartment. The rent price for a Memphis two-bedroom apartments currently stands at $1,137.0.

November Prices: Memphis vs. Surrounding Areas

Germantown, TN

Cordova, TN

Collierville, TN

Horn Lake, MS

Southaven, MS

Olive Branch, MS

Memphis, TN

Marion, AR

$1,571

$1,408

$1,377

$1,347

$1,287

$1,250

$996

$825

$550

$1,100

$1,650

$2,200

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

More key findings include:

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

November 2024 Pricing Trends: Memphis vs. National Comparisons

New York, NY

San Francisco, CA

Los Angeles, CA

Washington, DC

Chicago, IL

Columbus, OH

Minneapolis, MN

Pittsburgh, PA

Memphis, TN

$4,211

$3,115

$2,373

$2,354

$1,903

$1,338

$1,246

$1,202

$996

$1,400

$2,800

$4,200

$5,600

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 November	1 BR M/M % Change	2 BR November	2 BR M/M % Change
Memphis, TN	$996.0	1.94%	$1,118.0	2.85%
Cordova, TN	$1,408.0	-0.85%	$1,590.0	-0.75%
Southaven, MS	$1,287.0	1.50%	$1,409.0	0.43%
Horn Lake, MS	$1,347.0	-2.81%	$1,454.0	-3.65%
Collierville, TN	$1,377.0	-0.36%	$1,634.0	-0.24%
Marion, AR	$825.0	0.00%	$1,059.0	-0.28%
Olive Branch, MS	$1,250.0	0.00%	$1,360.0	0.59%
Germantown, TN	$1,571.0	0.77%	$1,864.0	-1.06%

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.