Search the lowest-cost Apartments available for rent right now in Memphis.
Memphis apartment guide from a local expert, breaking down neighborhoods, average rent, and ideal commute times near the 5 largest employers - FedEx, St. Jude, U of M, Methodist, and AutoZone.
Explore affordable Memphis neighborhoods like Victorian Village, Medical District, South Memphis, and Uptown. Find apartments where your rent goes further.
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.
Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Memphis Studio Apartments | $1,049 | $547 | $7,985 |
| Memphis 1 Bedroom Apartments | $1,151 | $450 | $2,842 |
| Memphis 2 Bedroom Apartments | $1,266 | $562 | $5,900 |
| Memphis 3 Bedroom Apartments | $1,712 | $600 | $4,085 |
| Memphis 4 Bedroom Apartments | $1,204 | $599 | $2,640 |
If you’re an expert on all things Memphis, tell us what you love (and don't) by rating it and writing a review.
Write a ReviewA cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Memphis is under $641.
The cheapest apartment in Memphis is 165 N Merton which is listed at $550, while the average apartment in Memphis costs $1,694.
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 4,926 regular apartments in Memphis that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.
Cheap apartments in Memphis have an average cost of $595 which is $1,099 cheaper than the average rent for all rentals in Memphis.
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.
Written by: Joshua Carlucci
I’m Josh, your ApartmentHomeLiving.com Local Expert for Memphis.
Written by: Joshua Carlucci
I’m Josh, your ApartmentHomeLiving.com Local Expert for Memphis.
Written by: Joshua Carlucci
I'm Josh, your ApartmentHomeLiving.
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.
Written by: Robin Stewart
Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.
Written by: Robin Stewart
There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.
Written by: Robin Stewart
Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.
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.
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