Cheap Apartments for Rent in Covington, TN from $397 (32 Rentals)

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Search the lowest-cost Apartments available for rent right now in Covington.

Rent According to Income: A Look at Income-Restricted Rentals

Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.

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Renters Insurance 101: What It Is, What It Covers, and Why You Need It

From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

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1 to 3 Bedroom Apartments

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3990 Stephanie LnMemphis, TN 38128

How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.

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What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

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Covington, TN Local Guide

Cheapest Available Covington Apartments for Rent and Nearby

 

The cheapest available apartment rental in Covington, TN is a 2 Beds unit found at Heyward Park in the Covington neighborhood priced from $470. Chapel Ridge of Ripley has the second lowest priced unit, which is a 1 Bed apartment currently listed from $697. Here is today’s list of the most affordable Covington apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Heyward Park2 Bedroom 2 Bath2BR,2BA$470
Chapel Ridge of RipleyOne Bedroom One Bathroom1BR,1BA$697
Luxe at Raleigh1 Bedroom, 1 Bathroom1BR,1BA$775
Regency at Raleigh2 bedroom, 1.5 bath2BR,1BA$840
Country ViewC13BR,2BA$905
The Landings at Houston LeveeThe Cove - 1x11BR,1BA$968
Riverbrook Luxury Apartments2BR/2.0BA2BR,2BA$995
Stonebridge Crossing ApartmentsAvalon w/Sunroom1BR,1BA$998
Enclave at WolfchaseThe Gray - Program Qualified1BR,1BA$1,000
Lincoln at WolfchaseOrchid1BR,1BA$1,071

Best Value Apartments for Rent in Covington, TN and Nearby

As of September 05, 2026 the best value apartment in the Covington area is the $0.74 price per square foot 4 Bed, 3 Bath Model at Sunridge Townhomes in the in the Raleigh neighborhood starting from $1,545. The second greatest value Covington apartment is the 3 Bedroom 2 Bath Model at Heyward Park starting at $524 with a $0.44 price per square foot in the Covington neighborhood. Here is today’s list of the best values for Covington apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Sunridge Townhomes4 Bed, 3 Bath4BR,3BA$0.74
Heyward Park3 Bedroom 2 Bath3BR,2BA$0.44
The Landings at Houston LeveeThe Delta - 2x22BR,2BA$1.14
Somerset at LakelandB22BR,2BA$1.06
Riverbrook Luxury Apartments3BR/2.0BA3BR,2BA$1.14
Country ViewC13BR,2BA$0.85
Sunrise Luxury Apartments22G502BR,2BA$1.13
Regency at Raleigh2 bedroom, 1.5 bath2BR,1.5BA$0.90
Chapel Ridge of RipleyTwo Bedroom Two Bathroom2BR,1BA$1.11
Stonebridge Crossing ApartmentsAvalon1BR,1BA$1.19

Don't Settle: How to Negotiate Your Apartment Lease and Save Money

Discover the insider tips from an attorney and real estate agent on how to negotiate your next apartment lease. Find out what's on the table and what's not, so you can save money and get the best terms possible.

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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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Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University

From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.

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Frequently Asked Questions about Cheap Covington Apartments

What is the Cheapest Studio apartment in Covington?

Currently the most affordable Cheap Studio Apartment in Covington is at Springs at Colonial listed at $1,130.

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

The lowest price for a Cheap One Bedroom Covington Apartment is $697 at Chapel Ridge of Ripley.

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

Today's best deal for a Cheap Two Bedroom Apartment in Covington is starting from $470 at Heyward Park.

What is the most affordable Covington Three Bedroom Apartment?

The best deal on a cheap Covington Three Bedroom Apartment rental is at Heyward Park and starts from $524.

Expert Rental Resources

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.

Articles, How-To's, and Tips

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Rent According to Income: A Look at Income-Restricted Rentals

Written by: Robin Stewart

The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.

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Exploring Rental Options: Apartments, Townhomes, and Lofts - Oh My!

Written by: Robin Stewart

Where do you see yourself? When you think of home, sweet home, are you in a 3/2 apartment? Dreaming of a tall townhome? Maybe an industrial loft heavy on cool vibes is on your visioning board.

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Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags

Written by: Robin Stewart

Renters want to find a great apartment, the right place for them, one that checks all the boxes of location, rental cost, amenities, safety, and more.

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First Apartment Regrets: Real Renters Share What They'd Do Differently

Written by: Robin Stewart

Hindsight is 20/20. Live and Learn. With age comes wisdom. We’re familiar with all those expressions, and all of them apply to lessons first-time renters learn.