Cheap Homes for Rent in Forest Hill Neighborhood of Memphis, TN from $1,500 (7 Rentals)

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Search the lowest-cost Homes available for rent right now in the Forest Hill area of Memphis.

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Forest Hill, Memphis, TN Local Guide

Cheapest Available Forest Hill Apartments for Rent

 

The cheapest available apartment rental in the Forest Hill area of Memphis, TN is a 2 Beds unit found at Courtyard @ Waring Park priced from $775. Edgewater Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $799. Here are the most affordable Forest Hill apartments for rent in Memphis, TN:

Apartment ListingModel NameBed/BathPriced From
Courtyard @ Waring Park2x1 (700)2BR,1BA$775
Edgewater Apartments1BR/1BA1BR,1BA$799
Abington2 Bed / 2 Bath – Spacious Townhome2BR,1BA$800

Best Value Apartments for Rent in Forest Hill, TN

As of May 16, 2025 the best value apartment in the Forest Hill area is the $1.10 price per square foot Magellan - 2 Bed, 2 Bath Model at The Stella Apartments in the in the East Memphis neighborhood starting from $1,150. The second greatest value Forest Hill apartment is the 2 BD Model at The Glen Townhomes starting at $1,040 with a $1.02 price per square foot in the Forest Hill neighborhood. Here is today’s list of the best values for Forest Hill apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
The Stella ApartmentsMagellan - 2 Bed, 2 Bath2BR,2BA$1.10
The Glen Townhomes2 BD2BR,1.5BA$1.02
Summer Trace ApartmentsThe Cambridge3BR,1.5BA$0.97
Greenbrook at Shelby FarmsWillow2BR,1.5BA$1.18
Abington2 Bed / 2 Bath – Spacious Townhome2BR,1.5BA$0.89
Highland Chateau1 Bed / 1 Bath - Comfort Option1BR,1BA$1.16
Edgewater Apartments1BR/1BA1BR,1BA$1.07
Sycamore Lake1 Bed 1 Bath1BR,1BA$1.16
Deerfield Apartments1.11BR,1BA$1.13
Courtyard @ Waring Park2x1 (700)2BR,1BA$1.11

Quick Rent Budget Calculator

How much rent can you afford?

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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Frequently Asked Questions about Forest Hill

What type of rentals are currently available in Forest Hill?

There are currently 23 Apartments for Rent in Forest Hill, TN with pricing that ranges from $775 to $2,980. There are also 8 Single Family Homes for rent, Condos, and Townhome rentals currently available in Forest Hill ranging from $1,530 to $1,920.

What is the current price range for Rental Homes in Forest Hill?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Forest Hill ranges from $1,530 to $1,920 with an average monthly rent of $1,744.

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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Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.

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The Freedom of Short-Term Leases: Exploring the Advantages for Renters

Written by: Bobbi Jackson

If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.

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Navigating the Rental Market: Tips for First-Time Renters

Written by: Sandy Baker

Making the decision to rent is exciting and terrifying at the same time. For many people, there are a lot of unknowns.

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Rise of Digital Nomads: Remote Work Tips for Apartment Renters

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As a digital nomad, you no longer call a set address or office building your home for eight hours of the day or more.