Cheap Apartments for Rent in the Central Gardens Neighborhood of Memphis, TN from $500 (104 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Central Gardens area of Memphis.

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

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Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.

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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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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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Central Gardens, Memphis, TN Local Guide

Cheapest Available Central Gardens Apartments for Rent

 

The cheapest available apartment rental in the Central Gardens area of Memphis, TN is a Studio unit found at The Pulse Apartments priced from $634. Melrose Court Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $695. Here are the most affordable Central Gardens apartments for rent in Memphis, TN:

Apartment ListingModel NameBed/BathPriced From
The Pulse ApartmentsStudio 1 BathroomStudio,1BA$634
Melrose Court Apartments1 Bed, 1 bath1BR,1BA$695
31 S McLean BlvdStudioStudio,1BA$725
Kimbrough Tower ApartmentsStudio 1 BathroomStudio,1BA$750
Village Square2028 #21BR,1BA$750
Central GardensStudio One Bath1BR,1BA$775
Monroe Flats1 Bedroom, 1 Bathroom1BR,1BA$799
The Sylvia1-Bedroom Unit1BR,1BA$800
The Gilmore ApartmentsLarge Studio- Available Now!!Studio,1BA$810
Parkside Poplar Apartments1 Bedroom1BR,1BA$825

Best Value Apartments for Rent in Central Gardens, TN

As of May 10, 2026 the best value apartment in the Central Gardens area is the $1.00 price per square foot 2 Bed 2 Bath Model at 65 N Belvedere Blvd in the in the Midtown Memphis neighborhood starting from $1,350. The second greatest value Central Gardens apartment is the 2BR/1.0BA Model at The Broadmoor Apartments starting at $995 with a $0.90 price per square foot in the Medical District neighborhood. Here is today’s list of the best values for Central Gardens apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
65 N Belvedere Blvd2 Bed 2 Bath2BR,2BA$1.00
The Broadmoor Apartments2BR/1.0BA2BR,1BA$0.90
Stonewall Apartments2 Bed 1.5 Bath2BR,1.5BA$0.81
31 S McLean BlvdOne Bedroom1BR,1BA$1.05
Azur Tower2 Bedroom 1 Bathroom2BR,1BA$1.03
Urban Peddler2BR 1BA2BR,1BA$1.02
Goodbar Townhomes2BR/1.0BA2BR,1BA$1.04
The Biltmore - McAlpin ApartmentsSingle 8501BR,1BA$1.09
Parkside Poplar Apartments1 Bedroom1BR,1BA$1.02
Monroe Flats1 Bedroom, 1 Bathroom1BR,1BA$1.04

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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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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Quick Rent Budget Calculator

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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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Pet Friendly Lifestyle
Central Gardens, Memphis, TN

Ranked #12

Among cities in Tennessee for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Frequently Asked Questions about Cheap Central Gardens Apartments

What is a cheap apartment in Central Gardens?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Central Gardens is under $825.

What is the price of a cheap apartment in Central Gardens?

The cheapest apartment in Central Gardens is Melrose Court Apartments which is listed at $695, while the average apartment in Central Gardens costs $2,350.

What types of apartments are the cheapest in Central Gardens?

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 176 regular apartments in Central Gardens 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 Central Gardens?

Cheap apartments in Central Gardens have an average cost of $647 which is $1,703 cheaper than the average rent for all rentals in Central Gardens.

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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A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back

Written by: Lauren Harrington

I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.

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Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts

Written by: Lauren Harrington

This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

decorative image for What Does “Rent Burdened” Mean? How Much Rent Is Too Much article

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Written by: Lauren Harrington

This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.