Cheap Apartments for Rent in the Midtown Neighborhood of Memphis, TN from $500 (56 Rentals)

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

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230 Cochran St
2 Bedroom Apartments

230 Cochran St

230 Cochran StMemphis, TN 38105
  • Utilities Included
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Peach Apartments
1 Bedroom Apartments

Peach Apartments

1330 Peach AveMemphis, TN 38104
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35 N Idlewild St
2 Bedroom Apartments

35 N Idlewild St

35 N Idlewild StMemphis, TN 38104
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Idlewild Terrace
1 Bedroom Apartments

Idlewild Terrace

32 Idlewild StMemphis, TN 38104
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144 N. Belvedere
2 Bedroom Apartments

144 N. Belvedere

144 N Belvedere BlvdMemphis, TN 38104
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Kimbrough Towers
1 to 3 Bedroom Apartments

Kimbrough Towers

172 Kimbrough PlMemphis, TN 38104
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Cherokee Arms
Studio Apartments

Cherokee Arms

1508 Madison AveMemphis, TN 38104
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Caprice
2 Bedroom Apartments

Caprice

1259 Harbert AveMemphis, TN 38104
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Almadura Apartments
Studio to 2 Bedroom Apartments

Almadura Apartments

175 Stonewall StMemphis, TN 38104
Showing Results 1-50, Page 1 of 2

Midtown, Memphis, TN Local Guide

Cheapest Available Midtown Apartments for Rent

 

The cheapest available apartment rental in the Midtown area of Memphis, TN is a 1 Bed unit found at Village Square priced from $695. Overton Place has the second lowest priced unit, which is a 1 Bed apartment currently listed from $725. Here are the most affordable Midtown apartments for rent in Memphis, TN:

Apartment ListingModel NameBed/BathPriced From
Village Square2048 #21BR,1BA$695
Overton Place1BR 1B1BR,1BA$725
The GilmoreSmall EfficiencyStudio,1BA$738
Vinton Avenue Apartments2BR/1.0BA2BR,1BA$750
The Drew @ Medical DistrictOne Bed1BR,1BA$790
Idlewild Terrace1BR/1.0BA1BR,1BA$795
Parkside Poplar Apartments1 Bedroom1BR,1BA$850
Park TerraceStudioStudio,1BA$850
The Courts MidtownThe Evergreen with W/DStudio,1BA$872
Crescendo Apartments1 Bed 1 Bath1BR,1BA$875

Best Value Apartments for Rent in Midtown, TN

As of March 27, 2025 the best value apartment in the Midtown area is the $0.85 price per square foot 1229 Vinton Ave Model at 1229 Vinton Ave, Unit 1 in the in the Medical District neighborhood starting from $1,150. The second greatest value Midtown apartment is the 2 Bed/2 Bath Model at The Avalon starting at $1,250 with a $1.04 price per square foot in the Midtown Memphis neighborhood. Here is today’s list of the best values for Midtown apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
1229 Vinton Ave, Unit 11229 Vinton Ave2BR,1BA$0.85
The Avalon2 Bed/2 Bath2BR,2BA$1.04
Stonewall Apartments2 Bed 1.5 Bath2BR,1.5BA$0.81
Urban Peddler2BR 1BA Renovated2BR,1BA$1.23
Vinton Avenue Apartments2BR/1.0BA2BR,1BA$0.91
Parkside Poplar Apartments1 Bedroom1BR,1BA$1.05
The Galloway @ Evergreen -The Evergreen2BR,1.5BA$1.25
Idlewild Terrace1BR/1.0BA1BR,1BA$0.99
Peabody PlaceOne Bedroom1BR,1BA$1.12
The Drew @ Medical DistrictOne Bed1BR,1BA$1.22

Quick Rent Budget Calculator

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Pet Friendly Lifestyle
Midtown, Memphis, TN

Ranked #12

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

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Lifestyle Ratings

ApartmentHomeLiving.com compares millions of points of data to bring you our detailed rental search system called 'Lifestyle ratings', composed of rentals in areas across the United States and customized analysis for Central Memphis. Lifestyle Ratings show you the best fit for your needs and interests. This takes in many factors including rankings of the best places for easy access to the parks, luxury amenities, kid and pet-friendly communities, availability of transit options, and other valuable search options. Find Lifestyle Search in the filter options (above). Happy Searching!

Frequently Asked Questions about Cheap Midtown Apartments

What is a cheap apartment in Midtown?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Midtown is under $875.

What is the price of a cheap apartment in Midtown?

The cheapest apartment in Midtown is Village Square which is listed at $695, while the average apartment in Midtown costs $13,160.

What types of apartments are the cheapest in Midtown?

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 216 regular apartments in Midtown 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 Midtown?

Cheap apartments in Midtown have an average cost of $322 which is $12,838 cheaper than the average rent for all rentals in Midtown.

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.

decorative image for Understanding Amenity Fees: Know Where You Might Be Able to Save Money article

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.