Cheap New Apartments for Rent in Memphis, TN from $300 (48 Rentals)

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

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.

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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.

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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.

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Crescent Bluff II
Built in 20151 to 2 Bedroom Apartments

Crescent Bluff II

10 E Virginia AveMemphis, TN 38106
  • Utilities Included
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Mason Homes on 4th
Built in 20182 to 3 Bedroom Apartments

Mason Homes on 4th

900 S 4th StMemphis, TN 38126
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South Main Artspace Lofts
Built in 2018Studio to 3 Bedroom Apartments

South Main Artspace Lofts

138 St. Paul AveMemphis, TN 38126
  • Utilities Included
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2nd Street Flats
Built in 20152 Bedroom Apartments

2nd Street Flats

362 S 2nd StMemphis, TN 38103
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Forum Flats
Built in 20191 to 3 Bedroom Apartments

Forum Flats

441 E Pontotoc AveMemphis, TN 38126
  • Utilities Included
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Patterson Flats
Built in 20182 Bedroom Apartments

Patterson Flats

259 E Butler AveMemphis, TN 38126
  • Utilities Included

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.

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Uptown Flats
Built in 20181 Bedroom Apartments

Uptown Flats

627 N Main StMemphis, TN 38107
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Burkle and Main
Built in 20212 to 4 Bedroom Apartments

Burkle and Main

812 N Main StMemphis, TN 38107
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Frisco Park
Built in 20213 Bedroom Apartments

Frisco Park

406 S Avalon StWest Memphis, AR 72301
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Millington Flats
Built in 20231 Bedroom Apartments

Millington Flats

7289 Raleigh Millington RdMillington, TN 38053
Showing Results 1-48, Page 1 of 1

Memphis, TN Local Guide

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.

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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 $650.

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 $4,120.

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 1,639 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 $467 which is $3,653 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.

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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.

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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.

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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.

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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.