Apartments for Rent in the 38116 ZIP Code of Memphis, TN Under $800 (28 Rentals)

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Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

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Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

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Navigating the Rental Market: Tips for First-Time Renters
Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.
Memphis, TN Local Guide

How much does it cost to rent an apartment in 38116?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| 38116 Studio Apartments | $687 | $547 | $1,169 |
| 38116 1 Bedroom Apartments | $719 | $598 | $905 |
| 38116 2 Bedroom Apartments | $922 | $625 | $1,350 |
| 38116 3 Bedroom Apartments | $1,105 | $855 | $1,514 |
| 38116 4 Bedroom Apartments | $1,105 | $1,014 | $1,178 |
Browse Apartments in the 38116 Zip Code of Memphis
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Frequently Asked Questions about the 38116 ZIP Code
How much are Studio apartments in 38116?
There are currently 14 Studio Apartments in 38116 with rent ranges from $547 to $1,169 with an average price of $687.
What is the current price range for One Bedroom 38116 Apartments for rent?
Today's rental pricing for One Bedroom Apartments in 38116 ranges from $598 to $905 with an average monthly rent of $719.
What does renting a Two Bedroom Apartment in 38116 cost?
The monthly rent prices of Two Bedroom Apartments currently available in 38116 range from $625 to $1,350. Today's average rental price for Two Bedrooms here is $922.
How expensive are 38116 Three Bedroom Apartments?
There are currently 26 Three Bedroom Apartments listings available in 38116 on ApartmentHomeLiving.com. The pricing ranges from $855 to $1,514 - averaging $1,105 for the location.
Expert Rental Resources
The rental experts at ApartmentHomeLiving.com provide you with top advice, tools, and tips for understanding the leasing process and finding the perfect rental. Here are a few helpful rental and leasing articles from our experts to guide you on your search.
Articles, How-To's, and Tips

Affordable Memphis: The Best Lower Priced Neighborhoods with Character
Written by: Joshua Carlucci
I’m Josh, your ApartmentHomeLiving.com Local Expert for Memphis.

18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property
Written by: Lauren Harrington
Renting your next home can feel thrilling and overwhelming at the same time.

A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment
Written by: Bob Mallory
Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.

Renting with Roommates: Realistic Expectations for Shared Lease
Written by: Christine Leonard, Esq.
Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.
