Average Rent in 38103, Memphis, TN

Home » TN » Memphis » 38103

Current Versus Historical 38103, Memphis, TN Rents

38103 rentals average $1,295 for a studio rental to $2,800 for a 2-bedroom rental. The median price of all currently available listings is $1,948, or roughly $20 per square feet.

For the apartment units and housing in June 2026, median rents have been roughly unchanged over the last year. Studio rentals prices have increased by $34 (2.70%) year-over-year from $1,261 to $1,295. 1-bedroom rentals prices have decreased by $52 (-3.18%) year-over-year from $1,637 to $1,585. 2-bedroom rentals prices have increased by $638 (29.48%) year-over-year from $2,163 to $2,800. 3-bedroom rentals prices have decreased by $328 (-12.08%) year-over-year from $2,718 to $2,390. 4-bedroom rentals prices have increased by $0 (0.00%) year-over-year from $3,875 to $3,875. Note that this figure includes all active and rented listings throughout the month.

Month-to-month, seasonality might have a bigger impact than overall trend price changes. Studio rents have gone up by 19.17% this month. 1-bedroom rents have gone down by 5.93% this month. 2-bedroom rents have gone up by 11.70% this month. 3-bedroom rents have gone down by 2.05% this month. 4-bedroom rents have gone down by 0.00% this month.

Beds	Price / Sqft	Jun 2026 Rent	1 Yr Ago Rent (% +/-)	3 Yr Ago Rent (% +/-)
Studio	$18.88	$1,295	$1,261 (2.70%)	$3,443 (-62.39%)
1 BR	$16.36	$1,585	$1,637 (-3.18%)	$1,446 (9.64%)
2 BR	$26.75	$2,800	$2,163 (29.48%)	$2,012 (39.20%)

Historical Rents in 38103, Memphis, TN

Studio

1 Bed

2 Bed

3 Bed

4 Bed

Top Cities Near 38103

There are a total of 1 cities nearby 38103. The average rent in 38103 is currently $1,525 per month. Only one city nearby has an average rent lower than that. Our records show that Memphis, TN, with an average rent of $1,525, is the most affordable city nearby. In contrast, the most expensive city near 38103, Memphis, TN is Memphis, TN. Monthly rents here are on average $1,525 per month.

Let's compare 38103, Memphis, TN's rent against other top cities nearby by bedroom size. Typically, rent for studios in 38103, Memphis, TN is on par with the other cities nearby. One bedrooms are about 8.99% more affordable. Two bedrooms in 38103, Memphis, TN are about 34.21% more expensive. Want more information? Check out the top 1 cities near 38103, Memphis, TN in the following table.

City	Studio	1 Bed	2 Bed	All
Memphis, TN	$1,295	$1,728	$1,842	$1,525

Top Neighborhoods Near 38103

Neighborhood	Studio	1 Bed	2 Bed	All

Top Counties Near 38103

There are a total of 1 counties located by 38103, Memphis, TN. One county in the area is Shelby, TN. The average rent for rentals in these counties is $1,563. That's roughly around $14 per sqft. A total of one county has a lower average rent. The county that is the most affordable is Shelby, TN. Its average rent per month is $1,563. Vice versa, with an average rent of $1,563, Shelby, TN is the most expensive county by 38103, Memphis, TN.

Typically, rent for studios in 38103, Memphis, TN is on par with the other counties nearby. In comparison, rent for one bedroom listings in 38103, Memphis, TN is 11.36% more affordable than other counties nearby. Finally, rent for two bedrooms in 38103, Memphis, TN is 33.63% more expensive than other counties nearby. We've listed all of these counties in the table below.

County	Studio	1 Bed	2 Bed	All
Shelby, TN	$1,295	$1,765	$1,859	$1,563

Top Zipcodes Near 38103

Zipcode	Studio	1 Bed	2 Bed	All

Frequently Asked Questions - 38103 Average Rents

What is the average rent price in 38103, Memphis, TN?

The average monthly rental price for 38103, Memphis, TN apartments for rent is approximately $1,948. This calculation takes into consideration rental listings of varying bedroom/bathroom sizes, building types, and locations.

Do 38103, Memphis, TN rent prices drop in winter?

Yes! On average we see a 3.4% drop in rental prices between the peak summer months and the slower winter months. With the added bonus of decreased competition from other renters looking to move, winter is generally considered the best time of the year to find an apartment for rent in 38103, Memphis, TN.

How much is a studio apartment in 38103, Memphis, TN?

The average monthly rental price for studio apartments is $1,295 and an average price per square feet of $18.88. There are a total of 1 studio apartment listings currently available for rent in 38103.

How much is a one bedroom apartment in 38103, Memphis, TN?

The average monthly rental price for one bedroom apartments is $1,585 and an average price per square feet of $16.36. There are a total of 4 one bedroom apartment listings currently available for rent in 38103.

How much is a two bedroom apartment in 38103, Memphis, TN?

The average monthly rental price for two bedroom apartments is $2,800 and an average price per square feet of $26.75. There are a total of 5 two bedroom apartment listings currently available for rent in 38103.

How have rent prices in 38103, Memphis, TN changed this year?

Rent prices for rentals in 38103, Memphis, TN can fluctuate yearly. Specifically, studio rental prices have changed by 0.03%, one bedroom rental prices have changed by -0.03%, two bedroom rental prices have changed by 0.29%, three bedroom rental prices have changed by -0.12% year-over-year.

What is a reasonable rent price in 38103, Memphis, TN?

A reasonable rent price in 38103, Memphis, TN is around $1,558/month. You can search for these reasonably priced rental listings on RentHop.