5+ Days Ago
Location
3940 Allison Ave, Memphis, TN 38122, USA
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About 3940 Allison Ave
Property Status: Active Office Phone: (901) 372-8500 Copyright © 2026 Memphis Area Association of Realtors®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Property highlights
We compared every listing in the surrounding area to determine which amenities are most common. If a building lacks an amenity that most others in the area have, it is a con. If a building has an amenity most others in the area do not, it is a pro. Similarly, price, schools, and size are calculated relative to the size, price, and distance to schools of the other properties nearby.How 3940 Allison Ave compares to other nearby properties.
Positives
- Elementary school nearby
- There is an elementary school 0.3 mile away
Considerations
- Greater distance from middle schools
- The nearest middle school is farther than 1 mile away
Address details
| Zip code | 38122 |
|---|---|
| Type | House for rent |
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Rent trends in Memphis
2-bedroom apartments at 3940 Allison Ave cost about 31% more than the average rent price for 2-bedroom apartments in Memphis.
Median rents as of May 9 2026.
Memphis
| Month | Median Rent |
|---|---|
| May 2024 | $1,041 |
| June 2024 | $1,046 |
| July 2024 | $1,081 |
| August 2024 | $1,107 |
| September 2024 | $1,164 |
| October 2024 | $1,125 |
| November 2024 | $1,150 |
| December 2024 | $1,146 |
| January 2025 | $1,151 |
| February 2025 | $1,111 |
| March 2025 | $1,107 |
| April 2025 | $1,106 |
| May 2025 | $1,104 |
| June 2025 | $1,095 |
| July 2025 | $1,091 |
| August 2025 | $1,096 |
| September 2025 | $1,096 |
| October 2025 | $1,073 |
| November 2025 | $1,050 |
| December 2025 | $1,026 |
| January 2026 | $1,012 |
| February 2026 | $1,014 |
| March 2026 | $999 |
| April 2026 | $991 |
| May 2026 | $980 |
Affordability calculator
Can I afford to live at 3940 Allison Ave?
Bedrooms
2 bedroomsRent-to-income ratio
30%
Slide to adjust the percentage of your monthly income you are willing to spend on rent.
The general rule of thumb is to spend around 30% or less of your income on rent.
Recommended income
$51,800/yr
With your selected rent-to-income ratio, you'd ideally want to make $51,800 annually to afford this 2-bedrooms monthly rent price of $1,295.
For more information on rent affordability, visit our rent calculator.
Schools near 3940 Allison Ave
Grahamwood Elementary School
3950 summer ave
memphis, TN, 38122
PK, K-5Public
B+
Avon School
310 avon rd
memphis, TN, 38117
K-12Public
University of Memphis - University Campus School
535 zach curlin
memphis, TN, 38152
K-5Public
A-
Early Childhood Program Partnering Centers
330 jackson ave
memphis, TN, 38112
PK, KPublic
Exceptional Children Special Placements
160 s hollywood
memphis, TN, 38112
PK, K-12Public
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Internet available near 3940 Allison Ave
Getting around Memphis near 3940 Allison Ave
Walking
4/10
Some shops and stores are within a few minutes.
Driving
8/10
This area is close to freeways and has adequate parking options.
Cycling
4/10
More spots are within biking distance and some roads are cyclist-friendly.
Transit
2/10
FYI, there are little to no public transit options within walking distance.
Points of interest for 3940 Allison Ave, Memphis
Groceries
3/10
At least one supermarket within a 30-minute walk
Shopping
6/10
Several shops within walking distance
Cafes
2/10
Some cafés within walking distance
Restaurants
5/10
Some restaurants within a few minutes’ walk
Primary schools
8/10
At least one elementary school within a 10-minute walk
High schools
1/10
Closest high school further than a 30-minute walk
Parks
5/10
Moderate amount of park space nearby
Nightlife
3/10
Some bars within walking distance
Explore the area around 3940 Allison Ave
Kroger
4264 Summer Ave
Stepherson's Superlo Foods
3942 Macon Rd
Kroger
3444 Plaza Ave
La Fiesta Supermarket
3662 Macon Rd
ALDI
4720 Summer Ave
Family Dollar
4216 Summer Ave
T.J. Maxx
4220 Summer Ave
Madrag
4278 Summer Ave
Uniforms & More
4288 Summer Ave
Ross Dress For Less
4310 Summer Ave
Tenn Tea
17 S Highland St
Starbucks
3444 Plaza Ave
Starbucks
3388 Poplar Ave
Starbucks
4730 Summer Ave
Inspire Community Cafe
510 Tillman St
High Point Pub
477 High Point Ter
Bubba's Ale House & Grille
4497 Summer Ave
The Medallion Restaurant
3700 Central Ave
Lucchesi's Beer Garden
3358 Poplar Ave
Ubees Restaurant & Bar
521 S Highland St
The Cottage Restaurant
4085 Summer Ave
Kroger Bakery
4270 Summer Ave
Kutie Pies Corner
630 N Highland St
Kroger Bakery
3444 Plaza Ave
Murray's Cheese
3444 Plaza Ave
Treadwell Park
Avon Park
Sunnyside Park
Chickasaw Garden Park
Audubon Park
Bryant's Breakfast
3965 Summer Ave
Taqueria Tierra Caliente
3967 Summer Ave
Los Picosoc
3937 Summer Ave
Nagasaki Inn
3951 Summer Ave
All Star
4091 Summer Ave
Summer Avenue / Graham Road
Summer
Summer Avenue / N Graham Street
Summer
Summer Avenue / Graham Road
Summer
Summer Avenue / Vaughn Road
Summer
Summer Avenue / Ngraham Street
Summer
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