Apartments for Rent in Memphis, TN Under $500 (24 Rentals)

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$465 - $1,6041 to 3 Bedroom Apartments Available Now

Tillman Cove

2998 Tillman CvMemphis, TN 38112

Pet Friendly

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Low Income
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Rent Specials

$463 - $1,850

Total Monthly Price

1 to 4 Bedroom Apartments Available Now

Barksdale Flats

139-149 N Barksdale StMemphis, TN 38104

Student Housing

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Customer Reviewed
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$3501 to 3 Bedroom Apartments Available Now

Watkins Manor

2601 N Watkins StMemphis, TN 38127

Cost Per Sq.Ft.

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Utilities Included

$495

1 Bedroom, 1 Bath Home for Rent

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1303 E Trigg Ave

MemphisTN38106

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1 Bedroom Apartments

4659 Cottonwood Rd

4659 Cottonwood RdMemphis, TN 38118

Furnished

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1 to 2 Bedroom Apartments

2238 Howell Ave

2238 Howell AveMemphis, TN 38108

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1 to 2 Bedroom Apartments

Divine Properties Complex

1043 College StMemphis, TN 38106

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2 Bedroom Apartments

Memphis, Tennessee: A Local Expert's Insider Guide to the Bluff City

Moving to the Bluff City? Get the insider’s guide on Memphis life, from specific neighborhood personalities and current average rent, to the best barbecue and live music spots.

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1 to 3 Bedroom Apartments

Coronado Manor

2459 Ketchum RdMemphis, TN 38114

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1 to 2 Bedroom Apartments

Westwood Manor Elderly Cottages

4436 Fig Leaf CirMemphis, TN 38109

Senior Living

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1 to 2 Bedroom Apartments

Sterling Townhomes

1903 E Raines RdMemphis, TN 38116

Utilities Included

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1 to 3 Bedroom Apartments

Valley Forge

176 Hillview AveMemphis, TN 38109

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2 Bedroom Apartments

Addison 1 Apartments

3300 Southern AveMemphis, TN 38111

Utilities Included

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2 Bedroom Apartments

Birchleaf Apartments

1033 Whitaker DrMemphis, TN 38116

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1 to 3 Bedroom Apartments

Ivy Chase Apartments

3130 S Mendenhall RdMemphis, TN 38115

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1 to 2 Bedroom Apartments

Whitney Manor Apartments

1520 Whitney AveMemphis, TN 38127

Utilities Included

Renters Insurance 101: What It Is, What It Covers, and Why You Need It

From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

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1 to 3 Bedroom Apartments

Breezy Point Apartments

2801 Raja RdMemphis, TN 38127

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1 to 3 Bedroom Apartments

Carriage House

1145 Frayser BlvdMemphis, TN 38127

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1 to 2 Bedroom Apartments

Pleasant View Apartments

1505 Baggett DrMemphis, TN 38127

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1 to 2 Bedroom Apartments

321 Pauline St

321 Pauline StMemphis, TN 38104

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Studio to 2 Bedroom Apartments

Chicago Park Place Apartments

1415 Breedlove StMemphis, TN 38107

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2 Bedroom Apartments

411 Tillman St

411 Tillman StMemphis, TN 38112

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Studio Apartments

610 Poplar Ave

610 Poplar AveMemphis, TN 38105

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2 Bedroom Apartments

Mississippi Court Apartments

1211 Mississippi BlvdMemphis, TN 38106

Utilities Included

The Local Memphis Expert's Guide to Renting Near the City's Top Employers

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.

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Showing Results 1-24, Page 1 of 1

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 Under $500	$1,065	$547	$7,985
Memphis 1 Bedroom Apartments Under $500	$1,150	$350	$2,842
Memphis 2 Bedroom Apartments Under $500	$1,273	$562	$5,096
Memphis 3 Bedroom Apartments Under $500	$1,704	$550	$4,137
Memphis 4 Bedroom Apartments Under $500	$1,309	$550	$2,560

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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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Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University

From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.

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Frequently Asked Questions about Memphis

How much are Studio apartments in Memphis?

There are currently 629 Studio Apartments in Memphis with rent ranges from $547 to $7,985 with an average price of $1,065.

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 $350 to $2,842 with an average monthly rent of $1,150.

What does renting a Two Bedroom Apartment in Memphis cost?

The monthly rent prices of Two Bedroom Apartments currently available in Memphis range from $562 to $5,096. Today's average rental price for Two Bedrooms here is $1,273.

How expensive are Memphis Three Bedroom Apartments?

There are currently 411 Three Bedroom Apartments listings available in Memphis on ApartmentHomeLiving.com. The pricing ranges from $550 to $4,137 - averaging $1,704 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.

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.