Cheap Apartments for Rent in Memphis, TX from $400 (35 Rentals)

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

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Schneider House
1 to 2 Bedroom Apartments

Schneider House

120 S Russell StPampa, TX 79065
  • Utilities Included
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Campus Row Apartments
1 to 2 Bedroom Apartments

Campus Row Apartments

2500 8th AveCanyon, TX 79015
  • Utilities Included

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Memphis, TX Local Guide

Cheapest Available Memphis Apartments for Rent and Nearby

 

The cheapest available apartment rental in Memphis, TX is a 1 Bed unit found at Crestview Commons priced from $450. 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
Crestview CommonsA11BR,1BA$450
Park 220StudioStudio,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
Harvest Park2 Beds, 2 baths2BR,2BA$610
North Grand Villas2B60-22BR,2BA$659
Candlewyck ApartmentsSmall EfficiencyStudio,1BA$695
The Coachlight Apartments1X11BR,1BA$699

Best Value Apartments for Rent in Memphis, TX and Nearby

As of September 13, 2025 the best value apartment in the Memphis area is the $0.72 price per square foot 3B60-2 Model at North Grand Villas in the in the Dumas Junction neighborhood starting from $916. 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.
North Grand Villas3B60-23BR,2BA$0.72
Cathy's Pointe ApartmentsThree Bedroom3BR,2BA$1.04
Hampton VillagesB1-302BR,2BA$0.92
Plainview ApartmentsC23BR,1BA$0.95
Harvest Park2 Beds, 2 baths2BR,2BA$0.62
The Courtyard2BR/1Bath2BR,1BA$1.03
Heritage HollowB12BR,1BA$0.67
Park Place ApartmentsOne Bedroom One Bath1BR,1BA$0.86
Schneider House1 Bed 1 Bath1BR,1BA$0.92
Crestview CommonsA11BR,1BA$0.86

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

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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 Park 220 listed at $450.

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 $610 at Harvest Park.

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.

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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.

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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.

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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Written by: Christine Leonard, Esq.

Hard truth. Moving is never easy. I’ve done it all – from local moves to cross-country relocations From packing to unpacking the last box, I have found moving to be an exhausting, expensive and stressful experience every time.

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Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Written by: Christine Leonard, Esq.

Throughout the day, think about all the times that you have to pay for something. So many of us reach automatically for a credit card or even our phone for a quick payment.