Cheap Apartments for Rent near Memphis, MO from $415 (47 Rentals)

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

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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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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630 N 6th St
Studio to 1 Bedroom Apartments

630 N 6th St

630 N 6th StBurlington, IA 52601
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Louden Lofts
Studio to 3 Bedroom Apartments

Louden Lofts

607 W Broadway AveFairfield, IA 52556
  • Utilities Included
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Chateau Apartments
1 to 2 Bedroom Apartments

Chateau Apartments

114 26th StFort Madison, IA 52627
  • Utilities Included
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1833 Curtis Ave
1 to 2 Bedroom Apartments

1833 Curtis Ave

1833 Curtis AveChariton, IA 50049
Corporate Housing
  • Utilities Included

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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Keokuk Family Flats
1 to 3 Bedroom Apartments

Keokuk Family Flats

2812 Lincoln AveKeokuk, IA 52632
  • Utilities Included
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Tisdale Apartments
2 Bedroom Apartments

Tisdale Apartments

232 E 4th StOttumwa, IA 52501
  • Utilities Included
property at 661 N 19th St

$691 - $760

2 Bedroom Rentals

Available Now

661 N 19th St

HamiltonIL62341
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501 S Osteopathy Ave
1 Bedroom Apartments

501 S Osteopathy Ave

501 S Osteopathy AveKirksville, MO 63501
Student Housing
  • Utilities Included

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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Mediapolis Village
2 to 4 Bedroom Apartments

Mediapolis Village

510 Wapello St SMediapolis, IA 52637
Showing Results 1-47, Page 1 of 1

Memphis, MO Local Guide

Cheapest Available Memphis Apartments for Rent and Nearby

 

The cheapest available apartment rental in Memphis, MO is a 1 Bed unit found at Rollins Apartments priced from $470. Welch Hotel Senior Apartments in the Oak Ridge neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $650. Here is today’s list of the most affordable Memphis apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Rollins Apartments1 Bedroom1BR,1BA$470
Welch Hotel Senior ApartmentsStudioStudio,1BA$650
Bel Aire Apartments1 Bedroom1BR,1BA$700
Park Madison Apartments1BR/1BA1BR,1BA$750
Caspian Village Apartments1 Bedroom, 1 Bathroom1BR,1BA$750
Green Gable CottagesGreen Gable 1 Bedroom1BR,1BA$750
Prairie Meadows ApartmentsA1 Classic1BR,1BA$850
Westland Village2x12BR,1BA$850
Monroe City Senior Housing 62+1 Bed 1 Bath1BR,1BA$875
Hawthorne Townhomes2 Bedrooms 2 Bath2BR,1BA$895

Best Value Apartments for Rent in Memphis, MO and Nearby

As of August 30, 2026 the best value apartment in the Memphis area is the $0.76 price per square foot 2 Bedroom Model at Nemitz Hall in the in the Threshers Meadows neighborhood starting from $1,095. The second greatest value Memphis apartment is the Cottage - 3 Model at Terrace View by Kading starting at $1,295 with a $1.04 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.
Nemitz Hall2 Bedroom2BR,2BA$0.76
Terrace View by KadingCottage - 33BR,2BA$1.04
Blaul LoftsBlaul Lofts - 3092BR,1BA$1.00
School House Apartments2 Bedroom and 1 Bath2BR,1BA$1.03
Westland Village2x12BR,1BA$0.89
Hawthorne Townhomes2 Bedrooms 2 Bath2BR,1.5BA$0.94
Alice Place West Burlington2-Bedroom2BR,1BA$1.13
Park Madison Apartments1BR/1BA1BR,1BA$1.00
Bel Aire Apartments2 Bedrooms2BR,1BA$1.18
Rollins Apartments1 Bedroom1BR,1BA$0.70

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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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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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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Remember the 3 Rules of Real Estate:
Location, Location, Location!

Explore Memphis, MO 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 $470 at Rollins Apartments.

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 $775 at Caspian Village Apartments.

What is the most affordable Memphis Three Bedroom Apartment?

The best deal on a cheap Memphis Three Bedroom Apartment rental is at School House Apartments and starts from $1,075.

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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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.

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

Written by: Robin Stewart

Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.