Cheap Homes for Rent in South Memphis Neighborhood of Memphis, TN from $500 (34 Rentals)

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Cheap Homes in the South Memphis area of Memphis.

Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

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Know Your Rights - How Discrimination Laws Impact Landlords and Tenants

Read our practical guide to landlord and tenant rights. Understand protected classes, reasonable accommodations, and legal exceptions to prevent housing discrimination.

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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 $499. 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$499
New Horizon - KingsgateEffStudio,1BA$577
Longview Heights2 Bed / 1 Bath2BR,1BA$609
Longview Gardens2 Bedroom2BR,1BA$627
Coronado Manor1 bedroom1BR,1BA$649
Creekside Meadows1 Bedroom 1 Bathroom1BR,1BA$679
Winchester GroveThe Willow - StudioStudio,1BA$684
Sunrise Terrace Apartments1 Bedroom1BR,1BA$690
Mill Creek Apartments1 Bedroom / 1 Bathroom1BR,1BA$694
Valley ForgeTwo Bedroom2BR,1BA$700

Best Value Apartments for Rent in South Memphis, TN

As of May 04, 2025 the best value apartment in the South Memphis area is the $0.60 price per square foot Two Bedroom Townhome w/Stairs Model at Fairway in the in the South Memphis neighborhood starting from $825. The second greatest value South Memphis apartment is the 3BR Model at Chapel Place Homes starting at $1,071 with a $0.81 price per square foot in the South 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.
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
Faronia Square2 bdr 1.5 ba Plan IV2BR,1.5BA$0.75
Pinewood ManorTwo Bedroom Townhome2BR,1.5BA$0.83
1101 S Rembert St, Unit 11011101 S Rembert St1BR,1BA$0.83
Valley ForgeTwo Bedroom2BR,1BA$0.80
Longview Heights2 Bed / 1 Bath2BR,1BA$0.77
Longview Gardens2 Bedroom2BR,1BA$0.80
Grainge Hill Apartments2 Bed / 1.5 Bath2BR,1.5BA$0.64

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Frequently Asked Questions about South Memphis

What type of rentals are currently available in South Memphis?

There are currently 498 Apartments for Rent in South Memphis, TN with pricing that ranges from $499 to $13,210. There are also 199 Single Family Homes for rent, Condos, and Townhome rentals currently available in South Memphis ranging from $595 to $4,149.

What is the current price range for Rental Homes in South Memphis?

Today's rental pricing for Homes for Rent, Condos and Townhomes in South Memphis ranges from $595 to $4,149 with an average monthly rent of $1,432.

How much are larger Three and Four Bedroom Rentals in South Memphis?

For those who are looking for larger living arrangements, Three Bedroom Apartments in South Memphis range from $827 to $4,720, while Three Bedroom Homes, Condos, and Townhomes for rent range from $834 to $2,650. Four Bedroom Single-Family rentals are also available starting from $1,000 and Four Bedroom Apartments start at $897.

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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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.

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Know Your Rights - How Discrimination Laws Impact Landlords and Tenants

Written by: Christine Leonard, Esq.

Everyone needs a place to live and to call home. For decades, the federal government has established protections to ensure that individuals and families can find housing free from discriminatory barriers.

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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.