Cheap Apartments for Rent in the Depot Neighborhood of Memphis, TN from $500 (71 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Depot 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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property at 2378 Boyle Ave

$1,050

Total Monthly Price

Total Monthly Price

Base Rent
$1,050
Total Monthly Price
$1,050

2 Bedroom, 1 Bath Home for Rent

Available Now

2378 Boyle Ave

MemphisTN38114

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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Coronado Manor
1 to 3 Bedroom Apartments

Coronado Manor

2459 Ketchum RdMemphis, TN 38114
  • Utilities Included
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Edgewood Townhomes
2 Bedroom Apartments

Edgewood Townhomes

1903 S Parkway EMemphis, TN 38114
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Barron Court
2 Bedroom Apartments

Barron Court

3015 Barron AveMemphis, TN 38114
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1154 Wilson St
1 Bedroom Apartments

1154 Wilson St

1154 Wilson StMemphis, TN 38106
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Manor Park Apartments
1 to 3 Bedroom Apartments

Manor Park Apartments

1500 Parkway View CirMemphis, TN 38106
  • Utilities Included

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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Crane Manor Apartments
1 to 2 Bedroom Apartments

Crane Manor Apartments

2295 Candlewyck CirMemphis, TN 38114
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Lapaloma Apartments
1 to 2 Bedroom Apartments

Lapaloma Apartments

1393 Lapaloma CirMemphis, TN 38114
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Airways
2 Bedroom Apartments

Airways

2227 Airways BlvdMemphis, TN 38114
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Bantam Apartments
Studio to 2 Bedroom Apartments

Bantam Apartments

2949 Airways BlvdMemphis, TN 38131
  • Utilities Included

Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

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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Showing Results 1-50, Page 1 of 2

Depot, Memphis, TN Local Guide

Cheapest Available Depot Apartments for Rent

 

The cheapest available apartment rental in the Depot area of Memphis, TN is a 1 Bed unit found at El Dorado priced from $579. Barron Court has the second lowest priced unit, which is a 2 Beds apartment currently listed from $671. Here are the most affordable Depot apartments for rent in Memphis, TN:

Apartment ListingModel NameBed/BathPriced From
El Dorado1 Bedroom1BR,1BA$579
Barron CourtBarron Court 2 Bedroom 1 Bath2BR,1BA$671
1831 Castalia St1 Bed 1 Bath1BR,1BA$750
Brentwood Parc2 Bed/ 2 Bath2BR,1BA$750
Airways2 Bedroom, 1 Bathroom2BR,1BA$750
Ruby Oaks Apartments2 Beds, 1 bath2BR,1BA$865
Lamar Crossing1 Bedroom1BR,1BA$956
The Wendell2BR/1.0BA2BR,1BA$1,150

Best Value Apartments for Rent in Depot, TN

As of May 28, 2026 the best value apartment in the Depot area is the $0.83 price per square foot 2 Bed/ 2 Bath Towhnome Model at Brentwood Parc in the in the East Memphis neighborhood starting from $850. The second greatest value Depot apartment is the 2 Beds, 2 baths Model at Ruby Oaks Apartments starting at $895 with a $0.95 price per square foot in the South Memphis neighborhood. Here is today’s list of the best values for Depot apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Brentwood Parc2 Bed/ 2 Bath Towhnome2BR,2BA$0.83
Ruby Oaks Apartments2 Beds, 2 baths2BR,2BA$0.95
The Wendell2BR/1.0BA2BR,1BA$1.24
Barron CourtBarron Court 2 Bedroom 1 Bath2BR,1BA$0.87
Lamar Crossing1 Bedroom1BR,1BA$1.26
2000 Walker Ave2000 Walker Ave1BR,1BA$2.07
1831 Castalia St1 Bed 1 Bath1BR,1BA$1.15
Airways2 Bedroom, 1 Bathroom2BR,1BA$1.20
El Dorado1 Bedroom1BR,1BA$1.01

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

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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Pet Friendly Lifestyle
Depot, Memphis, TN

Ranked #77

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

Pet Friendliness Lifestyle Score

2.5
Pet Friendly

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Frequently Asked Questions about Cheap Depot Apartments

How much is rent for a Cheap One Bedroom Depot Apartment?

The lowest price for a Cheap One Bedroom Depot Apartment is $579 at El Dorado.

What is the lowest price for a Cheap Two Bedroom Depot Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Depot is starting from $658 at El Dorado.

What is the most affordable Depot Three Bedroom Apartment?

The best deal on a cheap Depot Three Bedroom Apartment rental is at Brentwood Parc and starts from $895.

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.