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.

New Chicago, Memphis, TN Local Guide

Cheapest Neighborhoods for Apartments in New Chicago, TN

Pricing Updated: 03/20/2025

Current apartment rentals in the New Chicago, TN area range in price from to with an overall median price of . Here is today’s list neighborhoods with the lowest median pricing for New Chicago Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units

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 The Drew @ Medical District priced from $790. 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
The Drew @ Medical DistrictOne Bed1BR,1BA$790
Greenlaw Apartments2 bedroom x 1 bath2BR,1BA$795
The Kendall2BR/1.0BA2BR,1BA$813
Belvedere Gardens Condominiums2x1 Bath without W/D2BR,1BA$875
Crescendo Apartments1 Bed 1 Bath1BR,1BA$875

Best Value Apartments for Rent in New Chicago, TN

As of March 21, 2025 the best value apartment in the New Chicago area is the $1.04 price per square foot 2 Bed/2 Bath Model at The Avalon in the in the Midtown Memphis neighborhood starting from $1,250. 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.
The Avalon2 Bed/2 Bath2BR,2BA$1.04
Bickford Square Apartments2BR/2BA2BR,2BA$0.84
759 Olympic St759 Olympic St3BR,2BA$1.14
Urban Peddler2BR 1BA Renovated2BR,1BA$1.23
The Biltmore - McAlpin ApartmentsSingle 8501BR,1BA$1.26
1148 Decatur St, Unit 1148 DECATUR1148 Decatur St2BR,1BA$1.06
The Kendall2BR/1.0BA2BR,1BA$1.22
Greenlaw Apartments2 bedroom x 1 bath2BR,1BA$1.22
The Drew @ Medical DistrictOne Bed1BR,1BA$1.22
Crescendo Apartments1 Bed 1 Bath1BR,1BA$1.39

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Frequently Asked Questions about New Chicago

What type of rentals are currently available in New Chicago?

There are currently 71 Apartments for Rent in New Chicago, TN with pricing that ranges from $750 to $3,080. There are also 27 Single Family Homes for rent, Condos, and Townhome rentals currently available in New Chicago ranging from $695 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 $695 to $2,000 with an average monthly rent of $1,366.

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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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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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.