2121 Culbertson Ave
New AlbanyIN47150
Cheap Homes for Rent in Memphis, IN from $700 (8 Rentals)
Search the lowest-cost Homes available for rent right now in Memphis.
614 E Chestnut St
JeffersonvilleIN47130
451 N 25th St
LouisvilleKY40212
4435 Parker Ave
LouisvilleKY40212
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.
2530 St Xavier St
LouisvilleKY40212
1101 Foghorn Dr
JeffersonvilleIN47130
201 Stonebench Cir
JeffersonvilleIN47130
4233 Mel Smith Rd
New AlbanyIN47150
Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between
Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.
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Memphis, IN Local Guide
Memphis Indiana by Bedford is licensed under Internal
How much does it cost to rent a home in Memphis?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Memphis 2 Bedroom Homes for Rent | $1,195 | $899 | $1,700 |
| Memphis 3 Bedroom Homes for Rent | $1,900 | $975 | $3,750 |
| Memphis 4 Bedroom Homes for Rent | $3,947 | $2,195 | $5,700 |
| Memphis 5 Bedroom Homes for Rent | $5,800 | $3,900 | $9,500 |
Browse Top Homes for Rent in Memphis
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Memphis, IN Local Guide
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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 Southern Indiana neighborhood priced from $200. Courtyard Apartments in the Southern Indiana neighborhood has the second lowest priced unit, which is a 2 Beds apartment currently listed from $845. Here is today’s list of the most affordable Memphis apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Yellowwood Terrace Affordable Senior Housing | Standard | 1BR,1BA | $200 |
| Courtyard Apartments | 2.1A | 2BR,1BA | $845 |
| Willow Run | One Bed One Bath | 1BR,1BA | $879 |
Best Value Apartments for Rent in Memphis, IN and Nearby
As of April 16, 2026 the best value apartment in the Memphis area is the $1.17 price per square foot 3 Bed | 2 Bath Model at Armstrong Farm in the in the Oak Park neighborhood starting from $1,349. The second greatest value Memphis apartment is the Two Bed Model at Plum Ridge Apartments starting at $1,250 with a $1.10 price per square foot in the Southern Indiana neighborhood. Here is today’s list of the best values for Memphis apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Armstrong Farm | 3 Bed | 2 Bath | 3BR,2BA | $1.17 |
| Plum Ridge Apartments | Two Bed | 2BR,2BA | $1.10 |
| Adelyn Apartments | 6 | 2BR,2BA | $1.07 |
| Stonebridge Apartments | Second Floor 2Bed/2Bath | 2BR,2BA | $1.09 |
| Carrington Place | 2 Bedroom 1 Bath | 2BR,1BA | $1.04 |
| Holmans Crossing Apartments | 2Bedroom/2Bathroom 986 sqft (1st or 2nd floor) | 2BR,2BA | $1.17 |
| Klerner Lane Apartments | Two Bed 970 | 2BR,2BA | $1.13 |
| Lakeview | 1 Bedroom 1 Bath | 1BR,1BA | $1.17 |
| The Monroe | 1 Bedroom and 1 Bathroom | 1BR,1BA | $1.12 |
| Yellowwood Terrace Affordable Senior Housing | Standard | 1BR,1BA | $0.34 |
10 Hidden Costs of Renting You Should Budget for Before Signing a Lease
Avoid financial stress when renting. Learn about the 10 most common hidden costs—from pet fees to utilities—you must budget for before you sign a lease.
Read Article
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.
Read ArticleThe Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro
Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.
Read ArticleCash or credit? Understanding the Importance of Credit Score in Real Estate and Renting
Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.
Read ArticleThe 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
Read ArticleQuick 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.
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Explore Memphis, IN Rentals by Map
See the most popular apartments and homes in Memphis, IN
Frequently Asked Questions about Memphis
What type of rentals are currently available in Memphis?
There are currently 40 Apartments for Rent in Memphis, IN with pricing that ranges from $200 to $2,176. There are also 33 Single Family Homes for rent, Condos, and Townhome rentals currently available in Memphis ranging from $750 to $9,500.
What is the current price range for Rental Homes in Memphis?
Today's rental pricing for Homes for Rent, Condos and Townhomes in Memphis ranges from $750 to $9,500 with an average monthly rent of $2,766.
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
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.
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.
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.
Articles, How-To's, and Tips
What Does “Rent Burdened” Mean? How Much Rent Is Too Much
Written by: Lauren Harrington
This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.
Maximizing Your Refund: Essential Tax Tips for Renters
Written by: Christine Leonard, Esq.
Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.
18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property
Written by: Lauren Harrington
Renting your next home can feel thrilling and overwhelming at the same time.
A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment
Written by: Bob Mallory
Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.