Apartments for Rent in Memphis, TN Under $1,500 (678 Rentals)

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Affordable Memphis: The Best Neighborhoods with Character and Lower Rents

Explore affordable Memphis neighborhoods like Victorian Village, Medical District, South Memphis, and Uptown. Find apartments where your rent goes further.

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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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Metro67
Rent Specials
$1,299 - $3,553
Total Monthly Price

Total Monthly Price

Base Rent
$999 - $3,253
Required Monthly Fees
$300
Total Monthly Price
$1,299 - $3,553
Studio to 3 Bedroom Apartments Available Now

Metro67

67 Madison AveMemphis, TN 38103
Furnished
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  • 3D Tour
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The Oliver Luxury Apartments
Rent Specials
$1,285 - $3,440
Total Monthly Price

Total Monthly Price

Base Rent
$1,153 - $3,308
Required Monthly Fees
$132
Total Monthly Price
$1,285 - $3,440
Studio to 3 Bedroom Apartments Available Now

The Oliver Luxury Apartments

7 Vance AveMemphis, TN 38103
Active Lifestyle
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  • Customer Reviewed
  • 3D Tour

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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The Landing Residences
Rent Specials
$1,259 - $6,253
Total Monthly Price

Total Monthly Price

Base Rent
$1,201 - $6,195
Required Monthly Fees
$58
Total Monthly Price
$1,259 - $6,253
Studio to 2 Bedroom Apartments Available Now

The Landing Residences

1 Dr Martin Luther King Jr AveMemphis, TN 38103
Student Housing
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  • Customer Reviewed
  • 3D Tour
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The Marine Residence
Rent Specials
$1,255 - $2,830
Total Monthly Price

Total Monthly Price

Base Rent
$1,200 - $2,775
Required Monthly Fees
$55
Total Monthly Price
$1,255 - $2,830
1 to 2 Bedroom Apartments Available Now

The Marine Residence

360 Metal Museum DrMemphis, TN 38106
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  • Customer Reviewed
  • 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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699 N 5th St, Unit 2
$1,200
Total Monthly Price

Total Monthly Price

Base Rent
$1,200
Total Monthly Price
$1,200
1 Bedroom Apartment Available Now

699 N 5th St, Unit 2

699 N 5th StMemphis, TN 38107
Affordability
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1337 Vinton Ave, Unit 4
$1,200
Total Monthly Price

Total Monthly Price

Base Rent
$1,200
Total Monthly Price
$1,200
2 Bedroom Apartment Available Now

1337 Vinton Ave, Unit 4

1337 Vinton AveMemphis, TN 38104
Affordability
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Downtown Memphis Flats
Rent Specials
$1,175 - $1,650
Total Monthly Price

Total Monthly Price

Base Rent
$1,155 - $1,630
Required Monthly Fees
$20
Total Monthly Price
$1,175 - $1,650
1 to 2 Bedroom Apartments Contact Us For Availability

Downtown Memphis Flats

100 Gayoso AveMemphis, TN 38103
Student Housing
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  • Customer Reviewed
  • Utilities Included
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Riverset Apartments
Rent Specials
$1,151 - $2,781
Total Monthly Price

Total Monthly Price

Base Rent
$1,115 - $2,745
Required Monthly Fees
Varies
Total Monthly Price
Varies
1 to 2 Bedroom Apartments Available Now

Riverset Apartments

100 Riverset LnMemphis, TN 38103
Outdoors
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Showing Results 1-50, Page 1 of 14

Memphis, TN Local Guide

10 Hidden Costs of Renting You Should Budget for Before Signing a Lease

Avoid financial stress when renting. Learn about the 10 most common hidden costs—from pet fees to utilities—you must budget for before you sign a lease.

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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!

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Don't Settle: How to Negotiate Your Apartment Lease and Save Money

Discover the insider tips from an attorney and real estate agent on how to negotiate your next apartment lease. Find out what's on the table and what's not, so you can save money and get the best terms possible.

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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.

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Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.

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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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Remember the 3 Rules of Real Estate:
Location, Location, Location!

Explore Memphis, TN Rentals by Map

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See the most popular apartments and homes in Memphis, TN

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Frequently Asked Questions about Memphis

How much are Studio apartments in Memphis?

There are currently 643 Studio Apartments in Memphis with rent ranges from $560 to $7,990 with an average price of $1,059.

What is the current price range for One Bedroom Memphis Apartments for rent?

Today's rental pricing for One Bedroom Apartments in Memphis ranges from $485 to $2,850 with an average monthly rent of $1,163.

What does renting a Two Bedroom Apartment in Memphis cost?

The monthly rent prices of Two Bedroom Apartments currently available in Memphis range from $495 to $4,900. Today's average rental price for Two Bedrooms here is $1,309.

How expensive are Memphis Three Bedroom Apartments?

There are currently 388 Three Bedroom Apartments listings available in Memphis on ApartmentHomeLiving.com. The pricing ranges from $675 to $6,024 - averaging $1,765 for the location.

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.

Articles, How-To's, and Tips

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Affordable Memphis: The Best Lower Priced Neighborhoods with Character

Written by: Joshua Carlucci

I’m Josh, your ApartmentHomeLiving.com Local Expert for Memphis.

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Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.

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18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

Written by: Lauren Harrington

Renting your next home can feel thrilling and overwhelming at the same time.

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A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment

Written by: Bob Mallory

Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.