Cheap Apartments for Rent in the Central Gardens Neighborhood of Memphis, TN from $500 (89 Rentals)

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

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property at 1261 Central Ave

$975

Total Monthly Price

Total Monthly Price

Base Rent
$975
Total Monthly Price
$975

1 Bedroom, 1 Bath Home for Rent

Available Now

1261 Central Ave, Unit 4

1261 Central Ave
MemphisTN38104

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The Midtowner
$1,099 - $1,125
Total Monthly Price

Total Monthly Price

Base Rent
$1,099 - $1,125
Total Monthly Price
$1,099 - $1,125
2 Bedroom Apartments Available Now

The Midtowner

199 S McLean BlvdMemphis, TN 38104
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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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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 1 Bed unit found at Melrose Court Apartments priced from $695. 31 S McLean Blvd has the second lowest priced unit, which is a Studio apartment currently listed from $725. Here are the most affordable Central Gardens apartments for rent in Memphis, TN:

Apartment ListingModel NameBed/BathPriced From
Melrose Court Apartments1 Bed, 1 bath1BR,1BA$695
31 S McLean BlvdStudioStudio,1BA$725
Kimbrough Tower ApartmentsStudio 1 BathroomStudio,1BA$750
Central GardensStudio One Bath1BR,1BA$775
The Pulse Apartments1 Bedroom 1 Bathroom1BR,1BA$779
The Sylvia1-Bedroom Unit1BR,1BA$800
Azur Tower1 Bedroom 1 Bathroom1BR,1BA$809
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 August 10, 2026 the best value apartment in the Central Gardens area is the $1.00 price per square foot 3 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 2 Bed 1.5 Bath Model at Stonewall Apartments starting at $895 with a $0.81 price per square foot in the Midtown Memphis 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 Blvd3 Bed 2 Bath3BR,2BA$1.00
Stonewall Apartments2 Bed 1.5 Bath2BR,1.5BA$0.81
34 N Idlewild St2BR/1.0BA2BR,1BA$0.89
The Midtowner2 BR2BR,1BA$1.10
Goodbar Townhomes2BR/1.0BA2BR,1BA$1.04
1101 S Rembert St, Unit 11011101 S Rembert St1BR,1BA$0.83
The Biltmore - McAlpin ApartmentsSingle 8501BR,1BA$1.09
Parkside Poplar Apartments1 Bedroom1BR,1BA$1.02
Peabody PlaceO5 0ne Bedroom1BR,1BA$1.12
Melrose Court Apartments1 Bed, 1 bath1BR,1BA$1.16

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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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 #15

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 $1,230.

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 67 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 $722 which is $508 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.

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