Cheap Apartments for Rent in Memphis, TN from $300 with Laundry Facility (121 Rentals)
Search the lowest-cost Apartments available for rent right now in Memphis.

El Dorado

Longview Gardens

Longview Heights

The Trails at Mt. Moriah

Elite Living Residence

University Crossings
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.

Winchester Grove

Sunrise Terrace Apartments

Timber Pines Apartments

Villages at Harrison Creek- $1000.00 off!

Coronado Manor

Manor Park Apartments

Wesley Forest

Creekside Meadows

University Gardens Manor
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.

Summer Trace Apartments

Pinetree Place Apartments

Huntington Hills

Lexington Apartments

Cedar Mill Apartments & Townhouses

The Local Apartments

Avery Park Apartments

Oak Grove Flats
Smart Renter's Guide: Calculating Affordable Rent & Housing Costs
Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

The District Apartments

Rangepark Apartments

3433 N Trezevant St, Unit 1

Owens Place Townhomes

Oakwood Meadows Estates
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.

Azur Tower

The Brooklyn Memphis

Stone Ridge at Germantown Falls

Cherry Creek -FREE month!

Scenic Hills Apartments

Edgewater Apartments

Stonebrook Apartments

Cedar Run Apartments

Greenbrook at Shelby Farms
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 | $1,225 | $560 | $8,000 |
Memphis 1 Bedroom Apartments | $1,297 | $200 | $5,532 |
Memphis 2 Bedroom Apartments | $1,419 | $576 | $6,907 |
Memphis 3 Bedroom Apartments | $1,825 | $698 | $8,081 |
Memphis 4 Bedroom Apartments | $1,475 | $549 | $4,340 |
Explore Memphis

Memphis, TN Local Guide
- Memphis Neighborhoods
- Nearby Cities
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- Local Counties
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.
Getting Around Memphis, TN
Walk Score®
50 / 100
Somewhat Walkable
Some errands can be accomplished on foot
Bike Score®
50 / 100
Bikeable
Some bike infrastructure
Transit Score®
29 / 100
Some Transit
A few nearby public transportation options
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 a cheap apartment in Memphis?
A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Memphis is under $617.
What is the price of a cheap apartment in Memphis?
The cheapest apartment in Memphis is El Dorado which is listed at $545, while the average apartment in Memphis costs $3,685.
What types of apartments are the cheapest in Memphis?
Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 1,758 regular apartments in Memphis that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.
How do the prices of cheap apartments compare to the average apartment in Memphis?
Cheap apartments in Memphis have an average cost of $491 which is $3,194 cheaper than the average rent for all rentals in Memphis.
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.

Roommate Matching: Finding the Right Fit and Avoiding Pitfalls
Written by: Cheryl Bowman
A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.

The Art of the Rental Viewing: What to look for during a property tour
Written by: Marie Brown
You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.

Know Your Budget: Calculating What You Can Realistically Afford When Renting
Written by: Lauren Harrington
Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.

The Freedom of Short-Term Leases: Exploring the Advantages for Renters
Written by: Bobbi Jackson
If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.