Cheap Homes for Rent in New Memphis, IL from $700 (13 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
By AmenitiesDone
By Community TypeDone
Done

Search the lowest-cost Homes available for rent right now in New Memphis.

New Memphis, IL Local Guide

Cheapest Available New Memphis Apartments for Rent and Nearby

 

The cheapest available apartment rental in New Memphis, IL is a 1 Bed unit found at 215 anderson lane A in the Green Mount Manor neighborhood priced from $825. Bouse Apartment Homes in the Metro East neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $845. Here is today’s list of the most affordable New Memphis apartments for rent:

Apartment ListingModel NameBed/BathPriced From
215 anderson lane A1 BR / 1 BA1BR,1BA$825
Bouse Apartment Homes1 Bedroom 1 Bath1BR,1BA$845
Green Door ApartmentsLimited Time Only $9001BR,1BA$900
Meadows at Shadow Ridge1BR/1BA1BR,1BA$900
Storyboard on RockwoodRockwood A11BR,1BA$1,025

Best Value Apartments for Rent in New Memphis, IL and Nearby

As of March 25, 2025 the best value apartment in the New Memphis area is the $1.15 price per square foot Park Entrance B1 Model at Storyboard on Park Entrance in the in the OFallon neighborhood starting from $1,379. The second greatest value New Memphis apartment is the 2 Bedroom Garden Model at Cantwell Crossing Apartments and Townhomes starting at $1,384 with a $1.23 price per square foot in the Sullivan Manors neighborhood. Here is today’s list of the best values for New Memphis apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Storyboard on Park EntrancePark Entrance B12BR,2BA$1.15
Cantwell Crossing Apartments and Townhomes2 Bedroom Garden2BR,2BA$1.23
Reside Here Apartments & Rentals2BR/1.5BA2BR,1.5BA$1.14
Northbrooke CommonsB22BR,2BA$1.36
215 anderson lane A2 BR / 1 BA2BR,1BA$1.07
Storyboard on RockwoodRockwood B22BR,1.5BA$1.20
Storyboard on WisteriaWisteria B12BR,1BA$1.34
Winchester Place Apartments2 Bedroom / 1 Bath 950 sq ft2BR,1BA$1.25
Green Door ApartmentsLimited Time Only $9001BR,1BA$1.29
Bouse Apartment Homes1 Bedroom 1 Bath1BR,1BA$1.36

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.

decorative image of people with a giant lease agreement

Frequently Asked Questions about New Memphis

What type of rentals are currently available in New Memphis?

There are currently 37 Apartments for Rent in New Memphis, IL with pricing that ranges from $575 to $3,200. There are also 32 Single Family Homes for rent, Condos, and Townhome rentals currently available in New Memphis ranging from $750 to $2,400.

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

Today's rental pricing for Homes for Rent, Condos and Townhomes in New Memphis ranges from $750 to $2,400 with an average monthly rent of $1,438.

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.

decorative image for Renting Smart: Lease Basics Every Renter Needs article

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.

decorative image for Battling the Butts: Your Guide to the Reality of Smoke-Free Renting article

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.

decorative image for How Your Move-In Inspection Can Protect Your Security Deposit  article

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.