Cheap Apartments for Rent in Memphis, TX from $400 (30 Rentals)

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Search the lowest-cost Apartments available for rent right now in Memphis.

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Memphis, TX Local Guide

Cheapest Available Memphis Apartments for Rent and Nearby

 

The cheapest available apartment rental in Memphis, TX is a 2 Beds unit found at The Reserves at Brookside priced from $447. Park 220 has the second lowest priced unit, which is a Studio apartment currently listed from $450. Here is today’s list of the most affordable Memphis apartments for rent:

Apartment ListingModel NameBed/BathPriced From
The Reserves at Brookside2 bed/2 bath2BR,2BA$447
Park 220StudioStudio,1BA$450
Granite LandingSmall StudioStudio,1BA$525
Red River Senior Village1 Bed, 1 bath1BR,1BA$550
Park Place ApartmentsOne Bedroom One Bath1BR,1BA$550
Schneider House1 Bed 1 Bath1BR,1BA$550
Heritage HollowA11BR,1BA$575
Briarwood Apartments1 Bedroom 1 Bath1BR,1BA$590
Four Seasons Apartments1BR/1.0BA1BR,1BA$600
The Aspen ApartmentsAyers (1x1)1BR,1BA$617

Best Value Apartments for Rent in Memphis, TX and Nearby

As of February 20, 2025 the best value apartment in the Memphis area is the $0.72 price per square foot 3B60-2 Model at North Grand Villas in the in the Dumas Junction neighborhood starting from $916. The second greatest value Memphis apartment is the C1 Model at Summit at Central Village starting at $900 with a $0.75 price per square foot . Here is today’s list of the best values for Memphis apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
North Grand Villas3B60-23BR,2BA$0.72
Summit at Central VillageC13BR,1.5BA$0.75
McCaslin ApartmentsTwo Bedroom One Bath2BR,1BA$0.91
The Reserves at Brookside2 bed/2 bath2BR,2BA$0.45
Crestview CommonsB12BR,2BA$0.71
Red River Senior Village2 Beds, 2 baths2BR,2BA$0.82
Park Place ApartmentsOne Bedroom One Bath1BR,1BA$0.86
Briarwood Apartments1 Bedroom 1 Bath1BR,1BA$0.94
Heritage HollowA11BR,1BA$0.96
Schneider House1 Bed 1 Bath1BR,1BA$0.92

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Getting Around Memphis, TX

Walk Score®

18 / 100

Car-Dependent

Almost all errands require a car

Bike Score®

37 / 100

Somewhat Bikeable

Minimal bike infrastructure

What Are Walk Score®, Transit Score®, and Bike Score® Ratings?

  • Walk Score® measures the walkability of any address.
  • Transit Score® measures access to public transit.
  • Bike Score® measures the bikeability of any address.

Frequently Asked Questions about Cheap Memphis Apartments

What is the Cheapest Studio apartment in Memphis?

Currently the most affordable Cheap Studio Apartment in Memphis is at Park 220 listed at $450.

How much is rent for a Cheap One Bedroom Memphis Apartment?

The lowest price for a Cheap One Bedroom Memphis Apartment is $550 at Red River Senior Village.

What is the lowest price for a Cheap Two Bedroom Memphis Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Memphis is starting from $447 at The Reserves at Brookside.

What is the most affordable Memphis Three Bedroom Apartment?

The best deal on a cheap Memphis Three Bedroom Apartment rental is at The Reserves at Brookside and starts from $512.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

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.

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Understanding Amenity Fees: Know Where You Might Be Able to Save Money

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With the rising costs of housing, a lot of renters are asking this question: Is it possible to opt out of various amenities that your rental property offers so that you can avoid paying the fees.

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What to Know About Fees and Fines When Renting

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How Your Move-In Inspection Can Protect Your Security Deposit

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Signing Your Apartment Lease: The Basics

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When you're about to sign a lease for the first time, it can feel a bit overwhelming. You don’t want to miss any important details hidden in the fine print.