Cheap Apartments for Rent in Memphis, TN from $300(560 Rentals)

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1919 S Pkwy E
$5752 Bedroom, 1 Bath Home for RentAvailable Now

1919 S Pkwy E

Memphis, TN 38114
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2173 Kansas St
$5901 Bedroom, 1 Bath Home for RentAvailable Dec 30

2173 Kansas St

Memphis, TN 38109
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3565 Mynders Ave
$6001 Bedroom, 1 Bath Home for RentAvailable Now

3565 Mynders Ave

Memphis, TN 38111
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Showing Results 1-50, Page 1 of 12

Memphis, TN Local Guide

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Written By:
Justin Habersaat
Editing Staff

Cheapest Neighborhoods for Apartments in Memphis, TN

Pricing Updated: 12/22/2024

Current apartment rentals in the Memphis, TN area range in price from $273 to $9,995 with an overall median price of $1,841. The three Memphis neighborhoods with the lowest median rent pricing are Dellwood at $350, Hollywood at $530, and New Getwell at $450. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Memphis Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Dellwood$780$35012
Hollywood$845$5301
New Getwell$897$45074
Gardenview Park$925$40058
Firestone Park$934$4006
Walter Chandler$967$49020
Mill Branch$1,030$50035
Westwood$1,031$49021
Whitehaven$1,031$40097
Parkway Village$1,125$450413

Cheapest Available Memphis Apartments for Rent

 

The cheapest available apartment rental in Memphis, TN is a 1 Bed unit found at Sonesta Simply Suites Memphis - Extended Stay in the Oakhaven neighborhood priced from $85. Edge at Lakeview in the Oakhaven neighborhood has the second lowest priced unit, which is a 3 Beds apartment currently listed from $305. Here is today’s list of the most affordable Memphis apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Sonesta Simply Suites Memphis - Extended StayPer Day1BR,1BA$85
Edge at Lakeview3 Bedroom 2 Bathroom3BR,2BA$305
Bridgeport Manor2 Beds, 1 bath2BR,1BA$400
Grainge Hill Apartments2 Bed / 1.5 Bath2BR,1BA$450
Scenic Hills Apartments1 Bedroom1BR,1BA$450
Timber Pines Apartments2 Beds, 1 bath2BR,1BA$450
Coronado Manor1 bedroom1BR,1BA$450
Camelot Manor2 Beds, 1.5 baths2BR,1BA$450
Longview Gardens2 Bedroom2BR,1BA$495
165 N Merton1BR/1.0BA1BR,1BA$550

Best Value Apartments for Rent in Memphis, TN

As of December 22, 2024 the best value apartment in the Memphis area is the $0.43 price per square foot 4 Bedroom 4 Bath Model at Student Lofts at Brister in the in the East Memphis neighborhood starting from $800. The second greatest value Memphis apartment is the Two Bedroom Townhome w/Stairs Model at Fairway starting at $775 with a $0.56 price per square foot in the South Memphis neighborhood. 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.
Student Lofts at Brister4 Bedroom 4 Bath1BR,1BA$0.43
FairwayTwo Bedroom Townhome w/Stairs2BR,1.5BA$0.56
Shadowbrook2 Bedroom w/ Den2BR,1.5BA$0.69
Flairwood Apartments2 Beds, 1 bath2BR,1BA$0.74
Valley ForgeTwo Bedroom2BR,1BA$0.74
Scenic Hills Apartments2 Bedroom Flat2BR,1BA$0.59
Longview Gardens2 Bedroom2BR,1BA$0.63
Grainge Hill Apartments2 Bed / 1.5 Bath2BR,1.5BA$0.57
Bridgeport Manor2 Beds, 1 bath2BR,1BA$0.53
Timber Pines Apartments1 Bed, 1 bath1BR,1BA$0.64

Quick Rent Budget Calculator

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The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.

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Memphis Overview

Memphis, Tennessee is a place where you can feel lost in time, surrounded by rich history and the roots of some of today’s most popular music. Southern hospitality and tradition combine with modern comfort and a sense of belonging in Tennessee’s largest city, which still manages to retain the quiet charms of simple living. From the vibrant neighborhoods of Downtown Memphis to the majestic Mississippi River, there is no shortage of variety to be found by people staying in apartments in Memphis. Also, you can’t visit this sunny getaway without trying some legendary Memphis barbecue.

Why live in Memphis, TN?

The endless possibilities in Memphis make it a city that is difficult to define. There are museums and historical sites that will satisfy anyone seeking to learn about the rich history of the south and the civil rights movement. The plentiful parks and trails can keep active nature lovers happy, and there’s no shortage of sights for music aficionados interested in the origins of the classics. Between the countless animals at the Memphis Zoo, the mouthwatering soul food and barbecue that’s always in easy reach, and the minor league stadium where you can watch the Memphis Redbirds in action, Memphis is a city that comes equipped with everything you might want to experience. No matter who you find your apartment in Memphis, you're bound for adventure.

Memphis, TN
Population: 650,618

Ranked #26

in US Census Population by City

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Pet Friendly Lifestyle
Memphis, TN

Ranked #2

Among cities in Tennessee for Apartment listings with Pet Friendly Amenities

Pet Friendliness Lifestyle Score

3.5
Pet Friendly

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Remember the 3 Rules of Real Estate:
Location, Location, Location!

Explore Memphis, TN Rentals by Map

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See the most popular apartments and homes in Memphis, TN

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Getting Around Memphis, TN

Walk Score®

50 / 100

Somewhat Walkable

Some errands can be accomplished on foot

Bike Score®

50 / 100

Bikeable

Some bike infrastructure

Transit Score®

29 / 100

Some Transit

A few nearby public transportation options

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 New Horizon - Kingsgate listed at $577.

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

The lowest price for a Cheap One Bedroom Memphis Apartment is $85 at Sonesta Simply Suites Memphis - Extended Stay.

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 $400 at Bridgeport Manor.

What is the most affordable Memphis Three Bedroom Apartment?

The best deal on a cheap Memphis Three Bedroom Apartment rental is at Edge at Lakeview and starts from $305.

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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What to Know About Fees and Fines When Renting

Written by: Trey Huguley

When it comes to renting a new apartment or home there can be a number of fees that you will want to keep in mind going into the process.

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Navigating the World of Low-Income Housing: A Comprehensive Guide

Written by: Kevin Ready

Are you having difficulty keeping up with bills or paying the rent? If so, you are not alone. Many families struggle to keep up with rents that have increased up to 40% in the past decade.

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Signing Your Apartment Lease: The Basics

Written by: Trey Huguley

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.

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Real Estate Term Glossary: Your Guide to The A to Zs of Renting

Written by: Kevin Ready

Navigating the world of real estate can reveal an abundance of terminology and phrasing around the topics of renting and buying that for some may seem like a brand-new language.