Apartments in 38120

1 - 12 of 12 Results
29
Arbors River Oaks Apartments Apartment for rent in Memphis, TN
$1,673 - 4,271
225 Arbor Commons Circle Memphis, TN
1 - 3 BR | May. 8, 2025
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Luxury
In Unit Laundry
Balcony/Deck/Patio
Fitness Center
Pool
40
Memphis - Quail Hollow Apartment for rent in Memphis, TN
$1,379
6325 Quail Holw Memphis, TN
Studio | Available Now
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Dog Friendly
Cat Friendly
Short-term
Air Conditioning
Covered Parking
1
241 Montelo Apartment for rent in Memphis, TN
$2,250
Memphis, TN
4 BR | Available Now
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Dog Friendly
Cat Friendly
House
Dishwasher
5
Poplar Place Townhomes Apartment for rent in Memphis, TN
$928 - 1,234
1669 Randolph Pl Memphis, TN
2 - 3 BR | Available Now
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Dog Friendly
Cat Friendly
Townhome
Air Conditioning
Fitness Center
1
5239 Boswell Apartment for rent in Memphis, TN
$1,750
5239 Boswell Ave Memphis, TN
3 BR | May. 8, 2025
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House
Dishwasher
1
6746-2 Quail Hollow Ct Apartment for rent in Memphis, TN
$950
Memphis, TN
1 BR | Available Now
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Dog Friendly
Cat Friendly
Disability Access
1
Welcome To 6740 Quail Hollow Ct #2 In Memphis, Tn! Apartment for rent in Memphis, TN
$1,190
6740 Quail Hollow Ct Memphis, TN
2 BR | May. 13, 2025
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Dog Friendly
Cat Friendly
1
3bd/2ba Home Located In Whispering Oaks! Apartment for rent in Memphis, TN
$1,495
6773 Silver Oak Pl Memphis, TN
3 BR | May. 7, 2025
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Dog Friendly
Cat Friendly
House
1
2bd/1.5ba Townhouse Located On The Germantown/memphis Line! Apartment for rent in Memphis, TN
$1,175
6724 Majestic Oak Pl Memphis, TN
2 BR | Available Now
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Dog Friendly
Cat Friendly
House
1
Move-in Special! 50% Off First Month’s Rent-spacious 4-bedroom Home In Memphis! Apartment for rent in Memphis, TN
$1,595
5622 Mason Rd Memphis, TN
4 BR | Available Now
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Cat Friendly
House
Balcony/Deck/Patio
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3
Arbors River Oaks Apartment for rent in Memphis, TN
$1,095 - 1,410
225 Arbor Commons Circle Memphis, TN
1 - 3 BR | Available Now
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Dog Friendly
Cat Friendly
Luxury
Air Conditioning
Balcony/Deck/Patio
1
6692-1 Whispering Oak Pl Apartment for rent in Memphis, TN
$1,075
Memphis, TN
1 BR | Available Now
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1 - 12 of 12 Results
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How much does it cost to rent an apartment in 38120?

38120 apartments
Bed Type Average Rent Range
1BR $1,200 $950 - $1,720
2BR $1,700 $950 - $1,970
3BR $1,750 $1,230 - $2,370
Find an Apartment in 38120
Looking for apartments for rent in the 38120 zip code of Memphis, TN? Rentable currently has 29 units available in this area. The average rent for apartments in 38120 is $1,670, with the lowest rent for a 1-bedroom floor plan starting at $950.

The 38120 zip code is home to several desirable neighborhoods, including East Memphis and Germantown. These neighborhoods offer a variety of amenities and attractions, such as beautiful parks, shopping centers, and dining options. Nearby parks such as the Shelby Farms Park and the Lichterman Nature Center provide opportunities for outdoor recreation and leisure activities.

If you're looking for apartments near 38120 in Memphis, TN, Rentable has a selection of options to choose from. Explore our listings today and find your perfect rental in this vibrant area of Memphis.

Memphis:
May Rent Report

Welcome to the May 2025 Memphis Apartment Report. In this assessment of the local rental market, Rentable data scientists and rental experts break down the May 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
Jun. 2024
Jul. 2024
Aug. 2024
Sep. 2024
Oct. 2024
Nov. 2024
Dec. 2024
Jan. 2025
Feb. 2025
Mar. 2025
Apr. 2025
May. 2025
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 -1.09% decrease 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 April to May, Memphis experienced a -1.03% decrease for the price of a two-bedroom apartment. The rent price for a Memphis two-bedroom apartments currently stands at $1,152.0.

May Prices: Memphis vs. Surrounding Areas

Germantown, TN
Lakeland, TN
Collierville, TN
Cordova, TN
Horn Lake, MS
Southaven, MS
Memphis, TN
Marion, AR
$2,076
$1,956
$1,457
$1,421
$1,372
$1,312
$1,010
$812
$0
$700
$1,400
$2,100
$2,800
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 4 of the Memphis suburbs increased last month. On the other hand, 3 local areas experienced a decrease in the price of a one-bedroom apartment.

More key findings include:

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

  • Rent decreased in Horn Lake, MS, 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.

May 2025 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
$4,098
$3,173
$2,343
$2,342
$1,887
$1,310
$1,243
$1,230
$1,010
$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 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 $1,010.0 -1.37% $1,164.0 -1.36%
Cordova, TN $1,421.0 1.14% $1,580.0 0.96%
Southaven, MS $1,312.0 4.96% $1,341.0 8.94%
Collierville, TN $1,457.0 4.82% $1,641.0 0.55%
Horn Lake, MS $1,372.0 -0.15% $1,355.0 -3.63%
Germantown, TN $2,076.0 1.87% $2,467.0 0.20%
Lakeland, TN $1,956.0 -2.98% $2,163.0 -1.28%
Marion, AR $812.0 0.00% $950.0 -1.66%

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.