Average Rent in 38106, Memphis, TN

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Current Versus Historical 38106, Memphis, TN Rents

38106 rentals average $1,200 for a 1-bedroom rental to $900 for a 4-bedroom rental. The median price of all currently available listings is $1,200, or roughly $15 per square feet.

For the apartment units and housing in May 2026, median rents have risen substantially over the last year. Studio rentals prices have increased by $12 (6.38%) year-over-year from $188 to $200. 1-bedroom rentals prices have increased by $935 (352.83%) year-over-year from $265 to $1,200. 2-bedroom rentals prices have increased by $860 (89.12%) year-over-year from $965 to $1,825. 3-bedroom rentals prices have decreased by $242 (-18.35%) year-over-year from $1,317 to $1,075. 4-bedroom rentals prices have decreased by $667 (-42.55%) year-over-year from $1,567 to $900. 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 0.00% this month. 1-bedroom rents have gone up by 26.82% this month. 2-bedroom rents have gone up by 4.09% this month. 3-bedroom rents have gone down by 11.64% this month. 4-bedroom rents have gone down by 25.00% this month.

Beds	Price / Sqft	May 2026 Rent	1 Yr Ago Rent (% +/-)	3 Yr Ago Rent (% +/-)
1 BR	$21.27	$1,200	$265 (352.83%)	$1,026 (16.98%)
2 BR	$14.71	$1,825	$965 (89.12%)	$1,092 (67.18%)
3 BR	$11.65	$1,075	$1,317 (-18.35%)	$1,348 (-20.27%)
4+ BR	$8.04	$900	$1,567 (-42.55%)	$973 (-7.50%)

Historical Rents in 38106, Memphis, TN

Studio

1 Bed

2 Bed

3 Bed

4 Bed

Top Cities Near 38106

There are a total of 1 cities nearby 38106. The average rent in 38106 is currently $1,440 per month. Our records show that Memphis, TN, with an average rent of $1,440, is the most affordable city nearby. In contrast, the most expensive city near 38106, Memphis, TN is Memphis, TN. Monthly rents here are on average $1,440 per month.

Let's compare 38106, Memphis, TN's rent against other top cities nearby by bedroom size. One bedrooms are about 43.96% more affordable. Two bedrooms in 38106, Memphis, TN are about 0.93% more affordable. Finally, rent for three bedrooms are about 58.79% more affordable. Want more information? Check out the top 1 cities near 38106, Memphis, TN in the following table.

City	Studio	1 Bed	2 Bed	All
Memphis, TN	$1,075	$1,728	$1,842	$1,440

Top Neighborhoods Near 38106

Neighborhood	Studio	1 Bed	2 Bed	All

Top Counties Near 38106

There are a total of 1 counties located by 38106, Memphis, TN. One county in the area is Shelby, TN. The average rent for rentals in these counties is $1,525. That's roughly around $15 per sqft. The county that is the most affordable is Shelby, TN. Its average rent per month is $1,525. Vice versa, with an average rent of $1,525, Shelby, TN is the most expensive county by 38106, Memphis, TN.

In comparison, rent for one bedroom listings in 38106, Memphis, TN is 47.08% more affordable than other counties nearby. Finally, rent for two bedrooms in 38106, Memphis, TN is 0.93% more affordable than other counties nearby. We've listed all of these counties in the table below.

County	Studio	1 Bed	2 Bed	All
Shelby, TN	$1,075	$1,765	$1,842	$1,525

Top Zipcodes Near 38106

Zipcode	Studio	1 Bed	2 Bed	All

Frequently Asked Questions - 38106 Average Rents

What is the average rent price in 38106, Memphis, TN?

The average monthly rental price for 38106, Memphis, TN apartments for rent is approximately $1,200. This calculation takes into consideration rental listings of varying bedroom/bathroom sizes, building types, and locations.

Do 38106, 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 38106, Memphis, TN.

How much is a one bedroom apartment in 38106, Memphis, TN?

The average monthly rental price for one bedroom apartments is $1,200 and an average price per square feet of $21.27. There are a total of 1 one bedroom apartment listings currently available for rent in 38106.

How much is a two bedroom apartment in 38106, Memphis, TN?

The average monthly rental price for two bedroom apartments is $1,825 and an average price per square feet of $14.71. There are a total of 4 two bedroom apartment listings currently available for rent in 38106.

How have rent prices in 38106, Memphis, TN changed this year?

Rent prices for rentals in 38106, Memphis, TN can fluctuate yearly. Specifically, studio rental prices have changed by 0.06%, one bedroom rental prices have changed by 3.53%, two bedroom rental prices have changed by 0.89%, three bedroom rental prices have changed by -0.18% year-over-year.

What is a reasonable rent price in 38106, Memphis, TN?

A reasonable rent price in 38106, Memphis, TN is around $960/month. You can search for these reasonably priced rental listings on RentHop.