Cheap Apartments for Rent in the Raleigh Neighborhood of Memphis, TN from $500 (23 Rentals)

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

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Beverly Springs
2 Bedroom Apartments

Beverly Springs

2879 Beverly Hill RdMemphis, TN 38128
  • Utilities Included
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Coves at Yale
1 to 3 Bedroom Apartments

Coves at Yale

5022 Yale RdMemphis, TN 38128
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Covington Hills
1 to 3 Bedroom Apartments

Covington Hills

4800 Raleigh Lagrange RdMemphis, TN 38128
Showing Results 1-23, Page 1 of 1

Raleigh, Memphis, TN Local Guide

Cheapest Available Raleigh Apartments for Rent

 

The cheapest available apartment rental in the Raleigh area of Memphis, TN is a 1 Bed unit found at Scenic Hills Apartments priced from $550. Walden Pointe has the second lowest priced unit, which is a 1 Bed apartment currently listed from $720. Here are the most affordable Raleigh apartments for rent in Memphis, TN:

Apartment ListingModel NameBed/BathPriced From
Scenic Hills Apartments1 Bedroom1BR,1BA$550
Walden PointeOne Bedroom 1X1C1BR,1BA$720
Huntington Hills2 BR/ 1 BA2BR,1BA$729
Jamesbridge1 Bed / 1 Bath - Comfort Option1BR,1BA$740
Country View Apartments1 Bed / 1 Bath - Standard Option1BR,1BA$740

Best Value Apartments for Rent in Raleigh, TN

As of April 13, 2025 the best value apartment in the Raleigh area is the $0.87 price per square foot 2 Bed 2 Bath Model at Sunridge Townhomes in the in the Raleigh neighborhood starting from $1,395. The second greatest value Raleigh apartment is the 3 Bed 2 Bath Model at The Meridian Apartments starting at $1,095 with a $0.91 price per square foot in the Raleigh neighborhood. Here is today’s list of the best values for Raleigh apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Sunridge Townhomes2 Bed 2 Bath2BR,2BA$0.87
The Meridian Apartments3 Bed 2 Bath3BR,2BA$0.91
Rivergrove2B2BR,1.5BA$0.82
Cedarwood Apartments2 Bed 1.5 Bath2BR,1.5BA$0.89
Abington2 Bed / 2 Bath – Spacious Townhome2BR,1.5BA$0.89
Beverly Springs2 Bedroom, 1 Bathroom2BR,1BA$0.87
Luxe at Raleigh2 Bedroom, 1 Bathroom2BR,1BA$1.07
Lakes at Epping Way1 Bed / 1 Bath - Comfort Option1BR,1BA$1.01
Scenic Hills Apartments1 Bedroom1BR,1BA$0.71
Avery Park Apartments2X12BR,1BA$1.10

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Pet Friendly Lifestyle
Raleigh, Memphis, TN

Ranked #93

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

Pet Friendliness Lifestyle Score

3.5
Pet Friendly

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Getting Around the Raleigh Neighborhood in Memphis, TN

Walk Score®

34 / 100

Car-Dependent

Most errands require a car

Bike Score®

34 / 100

Somewhat Bikeable

Minimal bike infrastructure

Transit Score®

21 / 100

Minimal Transit

It may be possible to get on a bus

What Are Walk Score®, Transit Score®, and Bike Score® Ratings?

  • Walk Score® measures the walkability of any address.
  • Transit Score® measures access to public transit.
  • Bike Score® measures the bikeability of any address.

Frequently Asked Questions about Cheap Raleigh Apartments

How much is rent for a Cheap One Bedroom Raleigh Apartment?

The lowest price for a Cheap One Bedroom Raleigh Apartment is $550 at Scenic Hills Apartments.

What is the lowest price for a Cheap Two Bedroom Raleigh Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Raleigh is starting from $600 at Scenic Hills Apartments.

What is the most affordable Raleigh Three Bedroom Apartment?

The best deal on a cheap Raleigh Three Bedroom Apartment rental is at Huntington Hills and starts from $829.

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.