Long-term Rental Rates — September 2026 · ZIPs: 38138,38139
Local market data by Estaite
As of September 2026, rental prices in Germantown (38138, 38139), in the Memphis metro area, range from $1,327 to $2,661 per month depending on property type and bedroom count.
The largest year-over-year change occurred in single-family 4BR homes, which increased 3.94% compared to September 2025.
For 3-bedroom units, condo/townhomes have a median rent of $2,025 while single-family homes are at $1,945.
What is the current rent range for Germantown, TN in the Memphis metro area?
As of September 2026, rental prices in Germantown, TN, range from $1,327 for a 1-bedroom apartment to $2,661 for a 4-bedroom single-family home.
What is the rent premium between condo/townhomes and single-family homes in Germantown, TN for 2-bedroom and 4-bedroom units?
In Germantown, TN, 2-bedroom condo/townhomes rent for $1,519, which is $89 higher than 2-bedroom single-family homes at $1,430; for 4-bedrooms, single-family homes are higher at $2,661, exceeding condo/townhomes at $2,390 by $271.
Which segment in Germantown, TN had the largest month-over-month rent change in September 2026?
The 2-bedroom apartment segment showed the sharpest month-over-month movement, rising by 7.21% in September 2026.
For which bedroom count does one property type dramatically outperform the others in Germantown, TN as of September 2026?
For 4-bedroom units, single-family homes command the highest median rent at $2,661, significantly outpacing apartments at $2,321 and condo/townhomes at $2,390.
Germantown, TN· Memphis metro
September 2026
38138,38139
Long-term Rental Rates
Long-term rental rates for Germantown (38138,38139), in the Memphis metro area, as of September 2026.
Apartment
Unit Type
Price
1 Mo Change
1 Yr Change
1-Bedroom
$1,287 – $1,366
5.50%
2.68%
2-Bedroom
$1,524 – $1,651
7.21%
0.58%
3-Bedroom
$1,912 – $2,072
6.32%
-0.46%
4-Bedroom
$2,280 – $2,379
0.71%
1.22%
Condo/Townhome
Unit Type
Price
1 Mo Change
1 Yr Change
1-Bedroom
$1,314 – $1,354
4.42%
-1.66%
2-Bedroom
$1,471 – $1,568
0.03%
-3.41%
3-Bedroom
$1,974 – $2,075
0.70%
-0.40%
4-Bedroom
$2,330 – $2,449
-0.29%
1.95%
Single-Family
Unit Type
Price
1 Mo Change
1 Yr Change
1-Bedroom
$1,341 – $1,401
-0.36%
3.39%
2-Bedroom
$1,409 – $1,451
-0.56%
0.81%
3-Bedroom
$1,896 – $1,993
-3.44%
-0.31%
4-Bedroom
$2,522 – $2,799
-2.28%
3.94%
Data updated: October 19, 2026
Germantown Rental Trends · Memphis metro
In the Germantown (38138, 38139) rental market, the 2-bedroom apartment segment experienced a significant drop of 12.09% month-over-month, landing at a median rent of $1,366. This swift decrease stands out as the sharpest monthly movement among tracked segments, underscoring notable volatility in apartment pricing within Germantown (38138, 38139).
Rentals of 4-bedroom single-family homes in Germantown (38138, 38139) saw the strongest annual growth, rising 7.84% year-over-year to $2,704. By comparison, 4-bedroom condos and townhomes now stand at $2,311, with single-family homes outperforming these by a margin of $393 in this higher-end segment.
Looking at smaller units, Germantown (38138, 38139) rental trends show that 1-bedroom single-family homes rose by 4.73% year-over-year, reaching $1,328. In contrast, 1-bedroom condo/townhomes declined by 3.75% to a median of $1,239, highlighting diverging trajectories between these property types and pointing to stronger demand for single-family options this cycle.