Cheap Apartments for Rent in Memphis, IN from $497 (54 Rentals)

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

Bourbon, Baseball, and the Blues: Your Insider's Guide to Louisville, Kentucky

There's more to Louisville than the Kentucky Derby. Get a local insider's take on the best bourbon tours, dining, music venues, horse racing, and cultural experiences the city has to offer.

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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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The Laurel
Rent Specials
$1,234 - $1,889

Total Monthly Price

Base Rent$1,234 - $1,889
Total Monthly Price$1,234 - $1,889
1 to 3 Bedroom Apartments Available Now

The Laurel

3498 Jefferson Ridge DrJeffersonville, IN 47130
Corporate Housing
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Mint Juleps and Mile-Saving Commutes: Finding Quality Louisville Apartments Near Major Employers

Stop driving and start living! We highlight the best Louisville neighborhoods—from Beechmont to Audubon Park—with great rentals near top job providers.

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The Jeff On 10th
Studio to 2 Bedroom Apartments

The Jeff On 10th

3500 Ellingsworth Dairy DrJeffersonville, IN 47130
Corporate Housing

Louisville's Best Affordable Neighborhoods

Learn about Louisville with original content written by our Louisville, KY Local Expert, Mike Heuer

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Koehler Springs
2 to 3 Bedroom Apartments

Koehler Springs

2012 Payne Koehler RdSellersburg, IN 47172
  • Utilities Included
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The Commons Apartments
1 to 2 Bedroom Apartments

The Commons Apartments

818 Hausfeldt LnNew Albany, IN 47150
Corporate Housing

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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Memphis, IN Local Guide

Cheapest Available Memphis Apartments for Rent and Nearby

 

The cheapest available apartment rental in Memphis, IN is a 1 Bed unit found at Yellowwood Terrace Affordable Senior Housing in the Clarksville neighborhood priced from $200. Courtyard Apartments in the Clarksville neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $778. Here is today’s list of the most affordable Memphis apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Yellowwood Terrace Affordable Senior HousingStandard1BR, 1BA$200
Courtyard Apartments1.1B1BR, 1BA$778
The Monroe1 Bedroom and 1 Bathroom1BR, 1BA$849
Willow RunOne Bed One Bath1BR, 1BA$889
Foxtail Pointe2 Bdrm B2BR, 1BA$942
Meadows at Green TreeThe Elm1BR, 1BA$970
Arbor Place ApartmentsThe Windsor1BR, 1BA$975
Stonebridge ApartmentsFirst Floor 1Bed/1Bath1BR, 1BA$995
Charlestown FlatsOne Bedroom Flat1BR, 1BA$995
Lakeview Apartments1 Bedroom 1 Bath1BR, 1BA$1,024

Best Value Apartments for Rent in Memphis, IN and Nearby

As of September 16, 2026 the best value apartment in the Memphis area is the $1.01 price per square foot Two Bed Model at Plum Ridge Apartments in the Southern Indiana neighborhood starting from $1,150. The second greatest value Memphis apartment is the 2 BEDROOM 2 BATHROOM NEW CONSTRUCTION Model at Parkside Trace Apartments in the Outer Southern Indiana Clark County neighborhood starting at $1,269 with a $1.14 price per square foot. Here is today’s list of the best values for Memphis apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Plum Ridge ApartmentsTwo Bed2BR, 2BA$1.01
Parkside Trace Apartments2 BEDROOM 2 BATHROOM NEW CONSTRUCTION2BR, 2BA$1.14
Arbor Place ApartmentsThe Overlook2BR, 2BA$1.09
Carrington Place2 Bedroom 1 Bath2BR, 1BA$1.10
Klerner Lane ApartmentsTwo Bed 9702BR, 2BA$1.13
Foxtail Pointe2 Bdrm B2BR, 1BA$0.99
Renaissance Park ApartmentsADA Two Bedroom Two Bathroom2BR, 2BA$1.18
The Monroe1 Bedroom and 1 Bathroom1BR, 1BA$1.06
Courtyard Apartments1.1B1BR, 1BA$1.13
Yellowwood Terrace Affordable Senior HousingStandard1BR, 1BA$0.34

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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The Official Expert's Guide to the Top Neighborhoods in Louisville for College Renters

Learn About the Best Neighborhoods to Rent Near College Campuses in Louisville, KY | Find Louisville Off-Campus Student Housing at ApartmentHomeLiving.com

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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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Explore Memphis, IN Rentals by Map

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Frequently Asked Questions about Cheap Memphis Apartments

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

The lowest price for a Cheap One Bedroom Memphis Apartment is $200 at Yellowwood Terrace Affordable Senior Housing.

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

Today's best deal for a Cheap Two Bedroom Apartment in Memphis is starting from $828 at Courtyard Apartments.

What is the most affordable Memphis Three Bedroom Apartment?

The best deal on a cheap Memphis Three Bedroom Apartment rental is at Foxtail Pointe and starts from $1,088.

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.

Helpful Local Expert Guides

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Bourbon, Baseball, and the Blues: Your Insider's Guide to Louisville, Kentucky

Written by: Mike Heuer

Louisville is one great city in which to visit, live, work, and raise a family. It has excellent and reasonably affordable housing, great neighborhoods, and a whole lot more to offer its residents and visitors alike.

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Mint Juleps and Mile-Saving Commutes: Finding Quality Louisville Apartments Near Major Employers

Written by: Mike Heuer

Kentucky is a business-friendly commonwealth, and Louisville is its largest city. It also is home to many great employers who pay well, and their workers have lots of great choices in neighborhoods to rent great apartments.

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The Official Expert's Guide to the Top Neighborhoods in Louisville for College Renters

Written by: Mike Heuer

Louisville is a terrific location to get an advanced education at one of its many great colleges and universities.

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The 10 Best Affordable Neighborhoods for Renting in Louisville, KY

Written by: Mike Heuer

Louisville, Kentucky, founded in 1778, has grown to be the largest city in Kentucky and is a terrific city situated right along the south bank of the Ohio River.

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.