Cheap Apartments for Rent in the Central Gardens Neighborhood of Memphis, TN from $500 (64 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 1162 Peabody Ave

1162 Peabody Ave

MemphisTN38104

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Pulse
Studio to 2 Bedroom Apartments

Pulse

57 N Somerville StMemphis, TN 38104
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35 N Idlewild St
Studio to 2 Bedroom Apartments

35 N Idlewild St

35 N Idlewild StMemphis, TN 38104
Corporate Housing
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Idlewild Terrace
1 Bedroom Apartments

Idlewild Terrace

32 Idlewild StMemphis, TN 38104
  • Utilities Included
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144 N. Belvedere
2 Bedroom Apartments

144 N. Belvedere

144 N Belvedere BlvdMemphis, TN 38104
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Kimbrough Tower
Studio to 3 Bedroom Apartments

Kimbrough Tower

172 Kimbrough PlMemphis, TN 38104

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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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 Village Square priced from $625. Pulse has the second lowest priced unit, which is a Studio apartment currently listed from $634. Here are the most affordable Central Gardens apartments for rent in Memphis, TN:

Apartment ListingModel NameBed/BathPriced From
Village Square2068 #31BR,1BA$625
PulseS1Studio,1BA$634
Melrose Court Apartments1 Bed, 1 bath1BR,1BA$695
31 S McLean BlvdStudioStudio,1BA$725
144 N. Belvedere2 BR, 1 BA2BR,1BA$750
Belvedere Gardens Condominiums1x1 Bath1BR,1BA$775
Central GardensStudio One Bath1BR,1BA$775
Cherokee ArmsStandard StudioStudio,1BA$789
Kimbrough TowerStudioStudio,1BA$800
The Courts MidtownThe Annesdale1BR,1BA$821

Best Value Apartments for Rent in Central Gardens, TN

As of November 06, 2025 the best value apartment in the Central Gardens area is the $0.69 price per square foot 4 Bedroom Model at Barksdale Flats in the in the East Memphis neighborhood starting from $1,595. The second greatest value Central Gardens apartment is the 41 S McLean Blvd Model at 41 S McLean Blvd, Unit #3 upstairs starting at $1,200 with a $0.92 price per square foot in the East 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.
Barksdale Flats4 Bedroom4BR,2BA$0.69
41 S McLean Blvd, Unit #3 upstairs41 S McLean Blvd2BR,2BA$0.92
Stonewall Apartments2 Bed 1.5 Bath2BR,1.5BA$0.81
Park Terrace2 x 12BR,1BA$1.03
Urban Peddler2BR 1BA2BR,1BA$1.13
Goodbar Townhomes2BR/1.0BA2BR,1BA$1.09
Parkside Poplar Apartments1 Bedroom1BR,1BA$1.05
Peabody PlaceOne Bedroom1BR,1BA$1.13
144 N. Belvedere2 BR, 1 BA2BR,1BA$1.00
Village Square2038 #41BR,1BA$1.09

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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Apartment Common Area Rules: What Renters Need to Know

From the lounge to the laundry room, understand your rights and responsibilities in shared apartment spaces. Get tips on pet rules, noise, and security.

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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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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 #14

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 $821.

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

The cheapest apartment in Central Gardens is Village Square which is listed at $625, while the average apartment in Central Gardens costs $12,473.

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 45 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 $483 which is $11,990 cheaper than the average rent for all rentals in Central Gardens.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

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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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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Apartment Common Area Rules: What Renters Need to Know

Written by: Christine Leonard, Esq.

Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.

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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate! 

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The Rental Move-In Inspection Checklist: A Guide for Renters

Written by: Trey Huguley

The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.