Cheap Apartments for Rent in the Depot Neighborhood of Memphis, TN from $500 (43 Rentals)

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

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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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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Edgewood Townhomes
2 Bedroom Apartments

Edgewood Townhomes

1903 S Parkway EMemphis, TN 38114
  • Utilities Included
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Lapaloma Apartments
1 to 2 Bedroom Apartments

Lapaloma Apartments

1393 Lapaloma CirMemphis, TN 38114
  • 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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Bantam Apartments
Studio to 2 Bedroom Apartments

Bantam Apartments

2949 Airways BlvdMemphis, TN 38131
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Barron Court
2 Bedroom Apartments

Barron Court

3015 Barron AveMemphis, TN 38114

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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Airways
2 Bedroom Apartments

Airways

2227 Airways BlvdMemphis, TN 38114

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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Showing Results 1-43, Page 1 of 1

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 $577. Coronado Manor has the second lowest priced unit, which is a 1 Bed apartment currently listed from $649. Here are the most affordable Depot apartments for rent in Memphis, TN:

Apartment ListingModel NameBed/BathPriced From
El Dorado1 Bedroom1BR,1BA$577
Coronado Manor1 bedroom1BR,1BA$649
1154 Wilson St1 Bed, 1 bath1BR,1BA$699
Manor Park Apartments1 Bed / 1 Bath1BR,1BA$700
Barron CourtBarron Court 2 Bedroom 1 Bath2BR,1BA$785
Grainge Hill Apartments2 Bed / 1.5 Bath2BR,1BA$799
Airways2 Bedroom, 1 Bathroom2BR,1BA$800
Ruby Oaks Apartments2 Beds, 1 bath2BR,1BA$865
The Flats @ Cooper YoungStudioStudio,1BA$999
Lamar Crossing4 Bedroom4BR,2BA$1,459

Best Value Apartments for Rent in Depot, TN

As of October 10, 2025 the best value apartment in the Depot area is the $1.18 price per square foot 4 Bedroom Model at Lamar Crossing in the in the East Memphis neighborhood starting from $1,459. 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.
Lamar Crossing4 Bedroom4BR,2BA$1.18
Ruby Oaks Apartments2 Beds, 2 baths2BR,2BA$0.95
1154 Wilson St1 Bed, 1 bath1BR,1BA$0.87
Grainge Hill Apartments2 Bed / 1.5 Bath2BR,1.5BA$1.02
Barron CourtBarron Court 2 Bedroom 1 Bath2BR,1BA$1.01
Airways2 Bedroom, 1 Bathroom2BR,1BA$1.28
Manor Park Apartments1 Bed / 1 Bath1BR,1BA$1.12
El Dorado1 Bedroom1BR,1BA$1.00
Coronado Manor1 bedroom1BR,1BA$1.16
The Flats @ Cooper YoungStudioStudio ,1BA$1.86

Quick Rent Budget Calculator

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Pet Friendly Lifestyle
Depot, Memphis, TN

Ranked #71

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

What is a cheap apartment in Depot?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Depot is under $1,459.

What is the price of a cheap apartment in Depot?

The cheapest apartment in Depot is El Dorado which is listed at $575, while the average apartment in Depot costs $1,025.

What types of apartments are the cheapest in Depot?

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 6 regular apartments in Depot 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 Depot?

Cheap apartments in Depot have an average cost of $480 which is $545 cheaper than the average rent for all rentals in Depot.

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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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.

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

Written by: Christine Leonard, Esq.

For many people, obstacles can arise during the rental application process for a variety of issues.

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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Written by: Christine Leonard, Esq.

Hard truth. Moving is never easy. I’ve done it all – from local moves to cross-country relocations From packing to unpacking the last box, I have found moving to be an exhausting, expensive and stressful experience every time.