
Cheap Apartments for Rent in Memphis, TN from $500 with Washer/Dryer (314 Rentals) Page 5 of 7
Search the lowest-cost Apartments available for rent right now in Memphis.


Camelot Manor

3609-3625 Forrest Cv

Windsor Place

Addison Apartments IV

Verano Townhomes

Bridgeport Manor

Dogwood Trace

Annie's Townhomes

Coves at Yale

Charter Oak Apartments and Townhomes

Oakwood Meadows Estates

Stone Ridge at Germantown Falls

Cottonwood Apartments

The Vue at Claudette Townhomes & Apartments

Stonebrook Apartments

Caprice

The Villas at Willow Creek

Gramercy Park

Clearbrook Village - Newly Renovated

Pontotoc Gardens

The Alma

The Marie

Creekwood Village Apartments

Ridgewyck Townhomes

Spottswood Manor

Looney Apartments

The Courts Midtown

Cleaborn Pointe at Heritage Senior Apartments

Fairway

Bartlett Crossing

Lyons Ridge Apartments

Cane Creek Apartments

Melrose Place Apartments

Jefferson Place

Uptown Flats

Forum Flats

Crescent Bluff

High Point Terrace Apartments

Ridgeway Commons Townhomes

Faulkner Court Apartments

Austin Park Place Apartments

Crockett Park Place

Radio Center Flats

Main Street Flats

Raleigh Court Townhomes

Chapel Place Homes

The Courtyard at Ironworks

Poplar Pines

Shelby Grove Apartments
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 | $1,031 | $547 | $1,888 |
| Memphis 1 Bedroom Apartments | $1,130 | $525 | $3,309 |
| Memphis 2 Bedroom Apartments | $1,261 | $550 | $4,978 |
| Memphis 3 Bedroom Apartments | $1,644 | $550 | $4,049 |
| Memphis 4 Bedroom Apartments | $1,167 | $550 | $7,801 |
Browse Top Apartments in Memphis
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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 $605.
What is the price of a cheap apartment in Memphis?
The cheapest apartment in Memphis is 165 N Merton which is listed at $550, while the average apartment in Memphis costs $1,106.
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 5,529 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 $554 which is $552 cheaper than the average rent for all rentals in Memphis.
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

Memphis, Tennessee: A Local Expert's 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.

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

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.

Affordable Memphis: The Best Lower Priced Neighborhoods with Character
Written by: Joshua Carlucci
I’m Josh, your ApartmentHomeLiving.com Local Expert for Memphis.
Articles, How-To's, and Tips

How Commercial-to-Residential Property Conversions Help the Housing Crisis
Written by: Robin Stewart
Many housing markets throughout America share a common complaint: a lack of affordable rental properties.

Exploring Rental Options: Apartments, Townhomes, and Lofts - Oh My!
Written by: Robin Stewart
Where do you see yourself? When you think of home, sweet home, are you in a 3/2 apartment? Dreaming of a tall townhome? Maybe an industrial loft heavy on cool vibes is on your visioning board.

Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags
Written by: Robin Stewart
Renters want to find a great apartment, the right place for them, one that checks all the boxes of location, rental cost, amenities, safety, and more.

First Apartment Regrets: Real Renters Share What They'd Do Differently
Written by: Robin Stewart
Hindsight is 20/20. Live and Learn. With age comes wisdom. We’re familiar with all those expressions, and all of them apply to lessons first-time renters learn.