
1 Bedroom Apartments for Rent in Memphis, TN Under $500 (15 Rentals)


Watkins Manor

Timber Pines Apartments

321 Pauline St

Pleasant View Apartments
Genius Ideas and Studio Layout Tips That Maximize Every Square Inch
Transform your studio apartment layout and maximize storage. Get proven ideas from a 20-year property expert to make any small space stylish and functional.

Carriage House

Breezy Point Apartments

Chicago Park Place Apartments

Whitney Manor Apartments

Valley Forge
Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts
Create a productive work-from-home apartment setup, even in a small space or studio. Discover layout ideas, desk solutions, and organization tips that actually work.

Sterling Townhomes

Westwood Manor Elderly Cottages

Oakshire Downs Apartments and Townhomes

2238 Howell Ave

Ivy Chase Apartments
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.
Memphis, TN Local Guide

How much does it cost to rent an apartment in Memphis?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Memphis Studio Apartments | $1,040 | $547 | $7,985 |
| Memphis 1 Bedroom Apartments | $1,163 | $450 | $2,842 |
| Memphis 2 Bedroom Apartments | $1,279 | $600 | $5,900 |
| Memphis 3 Bedroom Apartments | $1,700 | $650 | $4,007 |
| Memphis 4 Bedroom Apartments | $1,405 | $599 | $3,500 |
Explore Memphis

Memphis, TN Local Guide
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College Life in Memphis: Affordable Neighborhoods Where Students Rent and Thrive
Where do Memphis students actually live? Our local expert reveals the best affordable neighborhoods to rent near U of M, Rhodes, and CBU. Get local tips & save on rent!
Read ArticleReal 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.
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.
Remember the 3 Rules of Real Estate:Location, Location, Location!
Explore Memphis, TN Rentals by Map
See the most popular apartments and homes in Memphis, TN
Frequently Asked Questions about 1 Bedroom Memphis Apartments
What is the Cheapest apartment in Memphis with 1 Bedroom?
Currently the most affordable 1 Bedroom in Memphis is at 165 N Merton listed at $550.
How much is the average rent for a 1 Bedroom Memphis Apartment?
The average rent for a 1 Bedroom Apartment in Memphis is $1,163.
What is the largest available 1 Bedroom Memphis Apartment for rent?
Today's apartment with the most square footage in Memphis is a 1,250 square feet unit starting from $1,695 at Lofts at Merchant Row.
What is the average size for Memphis 1 Bedroom Apartments for rent?
The average size for a 1 Bedroom rental in Memphis is currently 714 sq ft.
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

Affordable Memphis: The Best Lower Priced Neighborhoods with Character
Written by: Joshua Carlucci
I’m Josh, your ApartmentHomeLiving.com Local Expert for Memphis.

College Life in Memphis: Affordable Neighborhoods Where Students Really Live and Thrive
Written by: Joshua Carlucci
I’m Josh, your ApartmentHomeLiving.com Local Expert for Memphis.

The Local Memphis Experts Guide to Renting Near the Citys Top Employers
Written by: Joshua Carlucci
I'm Josh, your ApartmentHomeLiving.

Memphis, Tennessee: A Local Experts Insider Guide to the Bluff City
Written by: Joshua Carlucci
Hello from Memphis, Tennessee. I'm Josh, your ApartmentHomeLiving.com Local Expert for Memphis, and I spent years in this city eating, writing, cooking, studying, and getting to know it block by block.
Articles, How-To's, and Tips

Pet-Friendly Renting: Everything You Need to Know Before You Move
Written by: Christine Leonard, Esq.
For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.

Creative Ways Developers Reimagine Retail Spaces as Residential Units
Written by: Robin Stewart
Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.

Neighborhood and Market Insights: How to Choose the Right Area to Rent
Written by: Robin Stewart
Apartment-hunting can be a gargantuan task. Renters have a wish list of items—some luxuries, some necessities—but finding what you seek in the right place is perhaps the most important part of the journey.

A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back
Written by: Lauren Harrington
I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.