Cheap Apartments for Rent in Memphis, TX from $400 (37 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
to
Lifestyle Matching SearchDone
Learn more about Lifestyle Search
By AmenitiesDone
By Community TypeDone
Features and AvailabilityDone
Done

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

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.

Read Article

Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.

Read Article
close
View Me
Schneider House
1 to 2 Bedroom Apartments

Schneider House

120 S Russell StPampa, TX 79065
  • Utilities Included

Cash 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 Article
close
View Me
Campus Row Apartments
1 to 2 Bedroom Apartments

Campus Row Apartments

2500 8th AveCanyon, TX 79015
  • Utilities Included
close
View Me
The Courtyard
1 to 3 Bedroom Apartments

The Courtyard

4601 Woodland AveVernon, TX 76384
  • Utilities Included

The Art of the Rental Viewing: What to look for during a property tour

Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

Read Article
Showing Results 1-37, Page 1 of 1

Memphis, TX Local Guide

Cheapest Available Memphis Apartments for Rent and Nearby

 

The cheapest available apartment rental in Memphis, TX is a Studio unit found at Commons at St Anthonys in the Plemons Historic District neighborhood priced from $430. Park 220 has the second lowest priced unit, which is a Studio apartment currently listed from $450. Here is today’s list of the most affordable Memphis apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Commons at St AnthonysE1Studio,1BA$430
Park 220StudioStudio,1BA$450
Crestview CommonsA11BR,1BA$450
Heritage HollowA11BR,1BA$500
Granite LandingSmall StudioStudio,1BA$525
Schneider House1 Bed 1 Bath1BR,1BA$550
Park Place ApartmentsOne Bedroom One Bath1BR,1BA$550
The Aspen ApartmentsAyers (1x1)1BR,1BA$583
Harvest Park2 Beds, 2 baths2BR,2BA$610
Candlewyck ApartmentsSmall EfficiencyStudio,1BA$695

Best Value Apartments for Rent in Memphis, TX and Nearby

As of November 18, 2025 the best value apartment in the Memphis area is the $1.06 price per square foot C3-60% Model at Reserves at Brookside in the starting from $1,262. The second greatest value Memphis apartment is the Three Bedroom Model at Cathy's Pointe Apartments starting at $1,160 with a $1.04 price per square foot in the Dumas Junction neighborhood. 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.
Reserves at BrooksideC3-60%3BR,2BA$1.06
Cathy's Pointe ApartmentsThree Bedroom3BR,2BA$1.04
Hampton VillagesB1-302BR,2BA$0.92
Harvest Park2 Beds, 2 baths2BR,2BA$0.62
Heritage HollowB12BR,1BA$0.67
The Courtyard1BR/1Bath1BR,1BA$1.05
Park Place ApartmentsOne Bedroom One Bath1BR,1BA$0.86
Schneider House1 Bed 1 Bath1BR,1BA$0.92
The Aspen ApartmentsAyers (1x1)1BR,1BA$1.04
Crestview CommonsA11BR,1BA$0.86

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 Article
Decorative image

The 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 Article
Decorative image

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

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

Explore Memphis, TX Rentals by Map

Decorative image of map

See the most popular apartments and homes in Memphis, TX

View Map
Memphis, TX Apartments Map
View Map
Memphis, TX Rental Homes Map

Getting Around Memphis, TX

Walk Score®

18 / 100

Car-Dependent

Almost all errands require a car

Bike Score®

37 / 100

Somewhat Bikeable

Minimal bike infrastructure

What Are Walk Score®, Transit Score®, and Bike Score® Ratings?

  • Walk Score® measures the walkability of any address.
  • Transit Score® measures access to public transit.
  • Bike Score® measures the bikeability of any address.

Frequently Asked Questions about Cheap Memphis Apartments

What is the Cheapest Studio apartment in Memphis?

Currently the most affordable Cheap Studio Apartment in Memphis is at Commons at St Anthonys listed at $430.

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

The lowest price for a Cheap One Bedroom Memphis Apartment is $450 at Crestview Commons.

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 $544 at Commons at St Anthonys.

What is the most affordable Memphis Three Bedroom Apartment?

The best deal on a cheap Memphis Three Bedroom Apartment rental is at Harvest Park and starts from $668.

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 Apartment Common Area Rules: What Renters Need to Know article

Apartment Common Area Rules: What Renters Need to Know

Written by: Christine Leonard, Esq.

Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.

decorative image for How to Negotiate Your Apartment Lease and Save Money article

How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate! 

decorative image for The Rental Move-In Inspection Checklist: A Guide for Renters article

The Rental Move-In Inspection Checklist: A Guide for Renters

Written by: Trey Huguley

The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.

decorative image for Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between article

Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Written by: Christine Leonard, Esq.

For many people, obstacles can arise during the rental application process for a variety of issues.