Cheap Apartments for Rent in the South Memphis Neighborhood of Memphis, TN from $300 (82 Rentals)

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

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Birchleaf Apartments
2 Bedroom Apartments

Birchleaf Apartments

1033 Whitaker DrMemphis, TN 38116
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Valley Forge
2 Bedroom Apartments

Valley Forge

176 Hillview AveMemphis, TN 38109
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Sterling Townhomes
1 to 2 Bedroom Apartments

Sterling Townhomes

4187 Rainbranch DrMemphis, TN 38116
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Lapaloma Apartments
1 to 2 Bedroom Apartments

Lapaloma Apartments

1393 Lapaloma CirMemphis, TN 38114
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Edgewood Townhomes
2 Bedroom Apartments

Edgewood Townhomes

1903 S Parkway EMemphis, TN 38114
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Winbranch Apartments
1 to 2 Bedroom Apartments

Winbranch Apartments

3551 Dalebranch DrMemphis, TN 38116
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Raintree Apartments
2 Bedroom Apartments

Raintree Apartments

742 E Raines RdMemphis, TN 38116
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South Memphis, Memphis, TN Local Guide

Cheapest Available South Memphis Apartments for Rent

 

The cheapest available apartment rental in the South Memphis area of Memphis, TN is a 2 Beds unit found at Grainge Hill Apartments priced from $450. New Horizon - Kingsgate has the second lowest priced unit, which is a Studio apartment currently listed from $577. Here are the most affordable South Memphis apartments for rent in Memphis, TN:

Apartment ListingModel NameBed/BathPriced From
Grainge Hill Apartments2 Bed / 1.5 Bath2BR,1BA$450
New Horizon - KingsgateEffStudio,1BA$577
Longview Gardens2 Bedroom2BR,1BA$617
Longview Heights2 Bed / 1 Bath2BR,1BA$629
Coronado Manor1 bedroom1BR,1BA$649
Valley ForgeTwo Bedroom2BR,1BA$650
Creekside Meadows1 Bedroom 1 Bathroom1BR,1BA$665
Sunrise Terrace Apartments1 Bedroom1BR,1BA$690
Manor Park Apartments1 Bed / 1 Bath1BR,1BA$700

Best Value Apartments for Rent in South Memphis, TN

As of March 28, 2025 the best value apartment in the South Memphis area is the $0.71 price per square foot 719 Lydgate Rd Model at 719 Lydgate Rd in the in the South Memphis neighborhood starting from $1,275. The second greatest value South Memphis apartment is the 2006 Felix Ave Model at 2006 Felix Ave, Unit 1 starting at $700 with a $0.40 price per square foot in the East Memphis neighborhood. Here is today’s list of the best values for South Memphis apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
719 Lydgate Rd719 Lydgate Rd3BR,2BA$0.71
2006 Felix Ave, Unit 12006 Felix Ave1BR,1BA$0.40
Cane Creek Apartments4 BED TOWNHOME4BR,2BA$0.65
FairwayTwo Bedroom Townhome w/Stairs2BR,1.5BA$0.60
Chapel Place Homes3BR3BR,2.5BA$0.81
994 Philadelphia St, Unit 994994 Philadelphia St1BR,1BA$0.77
Valley ForgeTwo Bedroom2BR,1BA$0.74
Longview Heights2 Bed / 1 Bath2BR,1BA$0.80
Longview Gardens2 Bedroom2BR,1BA$0.78
Grainge Hill Apartments2 Bed / 1.5 Bath2BR,1.5BA$0.57

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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Pet Friendly Lifestyle
South Memphis, Memphis, TN

Ranked #16

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 brings you Lifestyle Ratings of rentals in cities across the United States including South Memphis, Memphis, and the greater Memphis area. LifeStyle Ratings are a useful tool for comparing and sorting apartments and neighborhoods when choosing your rental home. This takes in many factors including rankings of the best places for proximity to parks, luxury amenities, kid and pet-friendly communities, availability of transit options, and how walkable or bikeable each community and area is. Use Lifestyle Search in the site filter options on this page - and find your Perfect place!

Frequently Asked Questions about Cheap South Memphis Apartments

What is a cheap apartment in South Memphis?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in South Memphis is under $700.

What is the price of a cheap apartment in South Memphis?

The cheapest apartment in South Memphis is New Horizon - Kingsgate which is listed at $587, while the average apartment in South Memphis costs $13,110.

What types of apartments are the cheapest in South Memphis?

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 42 regular apartments in South Memphis 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 South Memphis?

Cheap apartments in South Memphis have an average cost of $241 which is $12,869 cheaper than the average rent for all rentals in South Memphis.

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.