Cheap Apartments for Rent in the Depot Neighborhood of Memphis, TN from $500 (30 Rentals)

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

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2309 Warren St
1 Bedroom Apartments

2309 Warren St

2309 Warren StMemphis, TN 38106
  • Utilities Included
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Kimball Park
1 to 3 Bedroom Apartments

Kimball Park

2861 Kimball AveMemphis, TN 38114

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3073 Sharpe Ave
2 Bedroom Apartments

3073 Sharpe Ave

3073 Sharpe AveMemphis, TN 38114
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1363 Dow Pl
Studio Apartments

1363 Dow Pl

1363 Dow PlMemphis, TN 38106

Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

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Coronado Manor
1 to 3 Bedroom Apartments

Coronado Manor

2459 Ketchum RdMemphis, 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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Cane Creek Apartments
3 to 4 Bedroom Apartments

Cane Creek Apartments

1528 Ragan StMemphis, TN 38106
  • Utilities Included

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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Lamar Crossing
1 to 4 Bedroom Apartments

Lamar Crossing

2881 Lamar AveMemphis, TN 38114
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Pendleton Court
1 Bedroom Apartments

Pendleton Court

1699 Pendleton StMemphis, TN 38114

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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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Cherokee Park
2 Bedroom Apartments

Cherokee Park

2884 Filmore AveMemphis, TN 38114
Showing Results 1-30, Page 1 of 1

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 $564. 1154 Wilson St has the second lowest priced unit, which is a 1 Bed apartment currently listed from $699. Here are the most affordable Depot apartments for rent in Memphis, TN:

Apartment ListingModel NameBed/BathPriced From
El Dorado1 Bedroom1BR,1BA$564
1154 Wilson St1 Bed, 1 bath1BR,1BA$699
Barron CourtBarron Court 2 Bedroom 1 Bath2BR,1BA$739
Airways2 Bedroom, 1 Bathroom2BR,1BA$800
Ruby Oaks Apartments2 Beds, 1 bath2BR,1BA$865
The Flats @ Cooper YoungStudioStudio,1BA$925

Best Value Apartments for Rent in Depot, TN

As of January 13, 2026 the best value apartment in the Depot area is the $0.95 price per square foot 2 Beds, 2 baths Model at Ruby Oaks Apartments in the in the South Memphis neighborhood starting from $895. The second greatest value Depot apartment is the 1 Bed, 1 bath Model at 1154 Wilson St starting at $699 with a $0.87 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.
Ruby Oaks Apartments2 Beds, 2 baths2BR,2BA$0.95
1154 Wilson St1 Bed, 1 bath1BR,1BA$0.87
Barron CourtBarron Court 2 Bedroom 1 Bath2BR,1BA$0.93
El Dorado2 Bedroom2BR,1.5BA$0.97
Airways2 Bedroom, 1 Bathroom2BR,1BA$1.28
The Flats @ Cooper YoungStudioStudio ,1BA$1.73

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 $925.

What is the price of a cheap apartment in Depot?

The cheapest apartment in Depot is El Dorado which is listed at $564, while the average apartment in Depot costs $1,495.

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 4 regular apartments in Depot that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

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 Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment

Written by: Bob Mallory

Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.

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Renting with Roommates: Realistic Expectations for Shared Lease

Written by: Christine Leonard, Esq.

Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.

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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.