Cheap Homes for Rent in New Chicago Neighborhood of Memphis, TN from $600 (13 Rentals)

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

Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

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New Chicago, Memphis, TN Local Guide

Cheapest Available New Chicago Apartments for Rent

 

The cheapest available apartment rental in the New Chicago area of Memphis, TN is a 1 Bed unit found at Belvedere Gardens Condominiums priced from $775. Greenlaw Apartments has the second lowest priced unit, which is a 2 Beds apartment currently listed from $795. Here are the most affordable New Chicago apartments for rent in Memphis, TN:

Apartment ListingModel NameBed/BathPriced From
Belvedere Gardens Condominiums1x1 Bath1BR,1BA$775
Greenlaw Apartments2 bedroom x 1 bath2BR,1BA$795
The Metropolitan and Greenlaw Place ApartmentsGreenlaw 1 Bedroom Flat1BR,1BA$850
628 Madison AveSmall StudioStudio,1BA$850
Crescendo Apartments1 Bed 1 Bath1BR,1BA$875

Best Value Apartments for Rent in New Chicago, TN

As of May 19, 2025 the best value apartment in the New Chicago area is the $0.89 price per square foot Spacious Model at 1468 Snowden Ave in the in the Midtown Memphis neighborhood starting from $1,500. The second greatest value New Chicago apartment is the 2BR/2BA Model at Bickford Square Apartments starting at $895 with a $0.84 price per square foot in the Downtown Memphis neighborhood. Here is today’s list of the best values for New Chicago apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
1468 Snowden AveSpacious2BR,1.5BA$0.89
Bickford Square Apartments2BR/2BA2BR,2BA$0.84
628 Madison Ave2 bd / 2 ba2BR,2BA$1.35
Overton Garden Apartments2151 Poplar Ave2BR,2BA$1.15
Urban Peddler2BR 1BA Renovated2BR,1BA$1.23
The Biltmore - McAlpin ApartmentsSingle 8501BR,1BA$1.26
Belvedere Gardens Condominiums1x1 Bath - Furnished1BR,1BA$1.53
The Metropolitan and Greenlaw Place ApartmentsGreenlaw 1 Bedroom Flat1BR,1BA$1.16
Greenlaw Apartments2 bedroom x 1 bath2BR,1BA$1.22
Crescendo Apartments1 Bed 1 Bath1BR,1BA$1.39

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 New Chicago

What type of rentals are currently available in New Chicago?

There are currently 67 Apartments for Rent in New Chicago, TN with pricing that ranges from $775 to $2,150. There are also 26 Single Family Homes for rent, Condos, and Townhome rentals currently available in New Chicago ranging from $650 to $2,000.

What is the current price range for Rental Homes in New Chicago?

Today's rental pricing for Homes for Rent, Condos and Townhomes in New Chicago ranges from $650 to $2,000 with an average monthly rent of $1,280.

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

Written by: Brandie Parton

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