Cheap Homes for Rent in South Memphis Neighborhood of Memphis, TN from $500 (52 Rentals)

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

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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$612
Longview Gardens2 Bedroom2BR,1BA$616
Creekside Meadows1 Bedroom 1 Bathroom1BR,1BA$681
Mill Creek Apartments1 Bedroom / 1 Bathroom1BR,1BA$682
Winchester GroveThe Willow - StudioStudio,1BA$684
Sunrise Terrace Apartments1 Bedroom1BR,1BA$690
Coronado Manor1 bedroom1BR,1BA$699
Valley ForgeTwo Bedroom2BR,1BA$700

Best Value Apartments for Rent in South Memphis, TN

As of April 18, 2025 the best value apartment in the South Memphis area is the $0.65 price per square foot 4 BED TOWNHOME Model at Cane Creek Apartments in the in the South Memphis neighborhood starting from $1,067. The second greatest value South Memphis apartment is the 1229 Vinton Ave Model at 1229 Vinton Ave, Unit 1 starting at $1,150 with a $0.85 price per square foot in the Medical District 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.
Cane Creek Apartments4 BED TOWNHOME4BR,2BA$0.65
1229 Vinton Ave, Unit 11229 Vinton Ave2BR,1BA$0.85
Chapel Place Homes3BR3BR,2.5BA$0.81
Faronia Square2 bdr 1.5 ba Plan IV2BR,1.5BA$0.75
1101 S Rembert St, Unit 11011101 S Rembert St1BR,1BA$0.90
Valley ForgeTwo Bedroom2BR,1BA$0.80
Vinton Avenue Apartments2BR/1.0BA2BR,1BA$0.91
Longview Gardens2 Bedroom2BR,1BA$0.79
Longview Heights2 Bed / 1 Bath2BR,1BA$0.78
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 504 Apartments for Rent in South Memphis, TN with pricing that ranges from $200 to $12,700. There are also 194 Single Family Homes for rent, Condos, and Townhome rentals currently available in South Memphis ranging from $550 to $4,495.

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 $550 to $4,495 with an average monthly rent of $1,473.

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 $4,510, while Three Bedroom Homes, Condos, and Townhomes for rent range from $800 to $2,996. Four Bedroom Single-Family rentals are also available starting from $925 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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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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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.

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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.