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Average Rent in 38104, Memphis, TN

Home  »  TN  »  Memphis  »  38104

Current Versus Historical 38104, Memphis, TN Rents

38104 rentals average $1,099 for a studio rental to $3,400 for a 4-bedroom rental. The median price of all currently available listings is $1,188, or roughly $1 per square feet.
For the apartment units and housing in May 2024, median rents have been roughly unchanged over the last year. Studio rentals prices have decreased by $191 (-22.03%) year-over-year from $866 to $675. 1-bedroom rentals prices have increased by $2 (0.18%) year-over-year from $923 to $925. 2-bedroom rentals prices have increased by $669 (59.10%) year-over-year from $1,131 to $1,800. 3-bedroom rentals prices have decreased by $560 (-23.50%) year-over-year from $2,383 to $1,823. 4-bedroom rentals prices have increased by $976 (40.25%) year-over-year from $2,424 to $3,400. 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 down by 19.00% this month. 1-bedroom rents have gone up by 0.27% this month. 2-bedroom rents have gone up by 31.55% this month. 3-bedroom rents have gone up by 3.28% this month. 4-bedroom rents have gone up by 10.87% this month.
Beds
Price / Sqft
 May 2024 Rent 1 Yr Ago Rent (% +/-) 3 Yr Ago Rent (% +/-)
Studio $2.00 $675 $866 (-22.03%) $1,143 (-40.95%)
1 BR $1.20 $925 $923 (0.18%) $858 (7.87%)
2 BR $1.39 $1,800 $1,131 (59.10%) $1,123 (60.24%)
3 BR $1.13 $1,823 $2,383 (-23.50%) $1,704 (6.94%)
4+ BR $1.23 $3,400 $2,424 (40.25%) $2,311 (47.15%)

Historical Rents in 38104, Memphis, TN

Studio
1 Bed
2 Bed
3 Bed
4 Bed

Top Cities Near 38104

There are a total of 1 cities nearby 38104. The average rent in 38104 is currently $1,225 per month. Our records show that Memphis, TN, with an average rent of $1,225, is the most affordable city nearby. In contrast, the most expensive city near 38104, Memphis, TN is Memphis, TN. Monthly rents here are on average $1,225 per month.

Let's compare 38104, Memphis, TN's rent against other top cities nearby by bedroom size. Typically, rent for studios in 38104, Memphis, TN is on par with the other cities nearby. One bedrooms are about 0.27% more expensive. Two bedrooms in 38104, Memphis, TN are about 10.61% more expensive. Finally, rent for three bedrooms are about 21.05% more expensive. Want more information? Check out the top 1 cities near 38104, Memphis, TN in the following chart.
City Studio 1 Bed 2 Bed All
Memphis, TN $1,099 $923 $1,095 $1,225

Top Neighborhoods Near 38104



View the following chart for more information.
Neighborhood Studio 1 Bed 2 Bed All

Top Counties Near 38104

The average rent for rentals in these counties is $1,300. That's roughly around $1 per sqft. The county that is the most affordable is Shelby, TN. It's average rent per month is $1,300. Vice versa, with an average rent of $1,300, Shelby, TN is the most expensive county by 38104, Memphis, TN.

Typically, rent for studios in 38104, Memphis, TN is 0.05% more affordable than other counties nearby. In comparison, rent for one bedroom listings in 38104, Memphis, TN is on par with the other counties nearby. Finally, rent for two bedrooms in 38104, Memphis, TN is 10.20% more expensive than other counties nearby. We've listed all of these counties in the chart below.
County Studio 1 Bed 2 Bed All
Shelby, TN $1,100 $925 $1,100 $1,300

Top Zipcodes Near 38104



You can view the average rent breakdown for each zipcode by bedroom size.
Zipcode Studio 1 Bed 2 Bed All

Frequently Asked Questions - 38104 Average Rents

What is the average rent price in 38104, Memphis, TN?
The average monthly rental price for 38104, Memphis, TN apartments for rent is approximately $1,188. This calculation takes into consideration rental listings of varying bedroom/bathroom sizes, building types, and locations.
Do 38104, 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 38104, Memphis, TN.
How much is a studio apartment in 38104, Memphis, TN?
The average monthly rental price for studio apartments is $1,099 and an average price per square feet of $2.00. There are a total of 5 studio apartment listings currently available for rent in 38104.
How much is a one bedroom apartment in 38104, Memphis, TN?
The average monthly rental price for one bedroom apartments is $925 and an average price per square feet of $1.20. There are a total of 21 one bedroom apartment listings currently available for rent in 38104.
How much is a two bedroom apartment in 38104, Memphis, TN?
The average monthly rental price for two bedroom apartments is $1,225 and an average price per square feet of $1.39. There are a total of 27 two bedroom apartment listings currently available for rent in 38104.
How have rent prices in 38104, Memphis, TN changed this year?
Rent prices for rentals in 38104, Memphis, TN can fluctuate yearly. Specifically, studio rental prices have changed by -0.22%, one bedroom rental prices have changed by 0.00%, two bedroom rental prices have changed by 0.59%, and three bedroom rental prices have changed by -0.24% year-over-year.
What is a reasonable rent price in 38104, Memphis, TN?
A reasonable rent price in 38104, Memphis, TN is around $950/month. You can search for these reasonably priced rental listings on RentHop.
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