Cheap Apartments for Rent in the Downtown Riverside Neighborhood of Memphis, TN from $600 (48 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Downtown Riverside area of Memphis.

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Crescent Bluff
1 to 2 Bedroom Apartments

Crescent Bluff

25 E Virginia AveMemphis, TN 38106
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Crescent Bluff II
1 to 2 Bedroom Apartments

Crescent Bluff II

10 E Virginia AveMemphis, TN 38106
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Pontotoc Gardens
3 Bedroom Apartments

Pontotoc Gardens

537-539 Pontotoc AveMemphis, TN 38126
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2nd Street Flats
1 to 3 Bedroom Apartments

2nd Street Flats

362 S 2nd StMemphis, TN 38103
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Forum Flats
1 to 3 Bedroom Apartments

Forum Flats

441 E Pontotoc AveMemphis, TN 38126
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Patterson Flats
1 to 3 Bedroom Apartments

Patterson Flats

259 E Butler AveMemphis, TN 38126
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Jefferson Place
1 to 2 Bedroom Apartments

Jefferson Place

560 S Jefferson PlMemphis, TN 38105
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Hope Heights Tower
Studio Apartments

Hope Heights Tower

383 Madison AveMemphis, TN 38103
Senior Living
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W.L.
Studio Apartments

W.L.

267 S Main StMemphis, TN 38103
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Main Street Flats
Studio to 2 Bedroom Apartments

Main Street Flats

101 S Main StMemphis, TN 38103
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Cornerstone Flats
1 to 2 Bedroom Apartments

Cornerstone Flats

113 S Main StMemphis, TN 38103
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99 S Front St
Studio to 2 Bedroom Apartments

99 S Front St

99 S Front StMemphis, TN 38103
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Lowenstein
1 to 2 Bedroom Apartments

Lowenstein

66 N Main StMemphis, TN 38103
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44 S. Front
1 Bedroom Apartments

44 S. Front

44 S Front StMemphis, TN 38103
Showing Results 1-48, Page 1 of 1

Downtown Riverside, Memphis, TN Local Guide

Cheapest Available Downtown Riverside Apartments for Rent

 

The cheapest available apartment rental in the Downtown Riverside area of Memphis, TN is a Studio unit found at Indigo Riverview priced from $742. Owens Place Townhomes has the second lowest priced unit, which is a 1 Bed apartment currently listed from $760. Here are the most affordable Downtown Riverside apartments for rent in Memphis, TN:

Apartment ListingModel NameBed/BathPriced From
Indigo RiverviewEmoryStudio,1BA$742
Owens Place Townhomes1 Bed Flat1BR,1BA$760
Patterson Flats1-B Type B1BR,1BA$887
Exchange Building1 Bedroom Small1BR,1BA$925
280 Vance Flats1 Bedroom 1 Bath Unit 1A (ADA)1BR,1BA$950
Fielder SquareE2 StudioStudio,1BA$961
The ChiscaA1r1BR,1BA$970
The Marine Residence1 Bedroom1BR,1BA$998
South Junction ApartmentsThe EdgeStudio,1BA$999
South Line at Central StationstudioStudio,1BA$999

Best Value Apartments for Rent in Downtown Riverside, TN

As of March 29, 2025 the best value apartment in the Downtown Riverside area is the $1.54 price per square foot B5 Model at Number 10 Main Street Apartments in the in the Downtown Memphis neighborhood starting from $2,031. The second greatest value Downtown Riverside apartment is the 2 Bedroom Two Bathroom 2C Type B PBV Model at Forum Flats starting at $1,059 with a $0.96 price per square foot in the Downtown Memphis neighborhood. Here is today’s list of the best values for Downtown Riverside apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Number 10 Main Street ApartmentsB52BR,2BA$1.54
Forum Flats2 Bedroom Two Bathroom 2C Type B PBV2BR,2BA$0.96
Court Square Apartments2 BR2BR,2BA$1.47
Lofts at Merchant RowFloor Plan C1BR,1BA$1.40
The Peabody CollectionS10Studio ,1BA$1.42
44 S. Front1 Bedroom 1.5 Bath1BR,1.5BA$1.56
266 LoftsA11BR,1BA$1.39
The Marine Residence1 Bedroom1BR,1BA$1.43
Owens Place Townhomes1 Bed Flat1BR,1BA$1.10
280 Vance Flats1 Bedroom 1 Bath Unit 1A (ADA)1BR,1BA$1.44

Quick Rent Budget Calculator

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Pet Friendly Lifestyle
Downtown Riverside, Memphis, TN

Ranked #18

Among neighborhoods in Memphis, TN for Apartment listings with Pet Friendly Amenities

Pet Friendliness Lifestyle Score

3.5
Pet Friendly

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Lifestyle Ratings

ApartmentHomeLiving brings you comprehensive Lifestyle Ratings of neighborhoods, cities, and rental properties across Tennessee, including Memphis. Our Lifestyle Ratings help you zero-in on the perfect place to call home. This takes in many factors including searching for the best amenities, and proximity to parks, transit availability, pet-friendly communities, family-friendly amenities, and how walkable or bikeable each community and area is. Find Lifestyle Search in the filter options (above). Happy Searching!

Frequently Asked Questions about Cheap Downtown Riverside Apartments

What is a cheap apartment in Downtown Riverside?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Downtown Riverside is under $999.

What is the price of a cheap apartment in Downtown Riverside?

The cheapest apartment in Downtown Riverside is Owens Place Townhomes which is listed at $760, while the average apartment in Downtown Riverside costs $3,650.

What types of apartments are the cheapest in Downtown Riverside?

Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 91 regular apartments in Downtown Riverside that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

How do the prices of cheap apartments compare to the average apartment in Downtown Riverside?

Cheap apartments in Downtown Riverside have an average cost of $464 which is $3,186 cheaper than the average rent for all rentals in Downtown Riverside.

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

Written by: Amber Kanuckel

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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Renting Smart: Lease Basics Every Renter Needs

Written by: Christine Leonard, Esq.

Often, in the excitement of finding a new place to live, there’s a rush to make it happen, and - too often - a new tenant signs a lease without reading it carefully.

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Battling the Butts: Your Guide to the Reality of Smoke-Free Renting

Written by: Andrea Lee Negroni, JD

While many apartment buildings are “no smoking” properties, it’s hard to know exactly how many. In 2017, the National Apartment Association reported more than half of rental properties had smoke free policies.

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How Your Move-In Inspection Can Protect Your Security Deposit

Written by: Christine Leonard, Esq.

If you’re anything like most people, housing costs represent a huge chunk of your monthly budget. On top of that, moving can be both a stressful and expensive affair.