Cheap Homes for Rent in Depot Neighborhood of Memphis, TN from $400 (41 Rentals)

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Search the lowest-cost Homes 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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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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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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property at 2013 Waverly Av.

$1,050

Total Monthly Price

Total Monthly Price

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

2 Bedroom, 1 Bath Townhome for Rent

Available Now

2013 Waverly Av.

MemphisTN38114

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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Showing Results 1-41, 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 $590. Barron Court has the second lowest priced unit, which is a 2 Beds apartment currently listed from $694. Here are the most affordable Depot apartments for rent in Memphis, TN:

Apartment ListingModel NameBed/BathPriced From
El Dorado1 Bedroom1BR,1BA$590
Barron CourtBarron Court 2 Bedroom 1 Bath2BR,1BA$694
1154 Wilson StOne Bed One Bath1BR,1BA$699
1831 Castalia St1 Bed 1 Bath1BR,1BA$750
Brentwood Parc2 Bed/ 2 Bath2BR,1BA$750
Airways2 Bedroom, 1 Bathroom2BR,1BA$750
Lamar Crossing1 Bedroom1BR,1BA$785
Ruby Oaks Apartments2 Beds, 1 bath2BR,1BA$865
The Wendell1BR/1.0BA1BR,1BA$950
The Flats @ Cooper YoungStudioStudio,1BA$950

Best Value Apartments for Rent in Depot, TN

As of April 13, 2026 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 $1,467. The second greatest value Depot apartment is the 2 Bed/ 2 Bath Towhnome Model at Brentwood Parc starting at $850 with a $0.83 price per square foot in the East 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
Brentwood Parc2 Bed/ 2 Bath Towhnome2BR,2BA$0.83
Ruby Oaks Apartments2 Beds, 2 baths2BR,2BA$0.95
1154 Wilson StOne Bed One Bath1BR,1BA$0.87
Barron CourtBarron Court 2 Bedroom 1 Bath2BR,1BA$0.90
The Wendell1BR/1.0BA1BR,1BA$1.41
1831 Castalia St1 Bed 1 Bath1BR,1BA$1.15
Airways2 Bedroom, 1 Bathroom2BR,1BA$1.20
El Dorado1 Bedroom1BR,1BA$1.03
The Flats @ Cooper YoungStudioStudio ,1BA$1.73

10 Hidden Costs of Renting You Should Budget for Before Signing a Lease

Avoid financial stress when renting. Learn about the 10 most common hidden costs—from pet fees to utilities—you must budget for before you sign a lease.

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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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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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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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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 Depot

What type of rentals are currently available in Depot?

There are currently 110 Apartments for Rent in Depot, TN with pricing that ranges from $640 to $1,750. There are also 122 Single Family Homes for rent, Condos, and Townhome rentals currently available in Depot ranging from $495 to $3,800.

What is the current price range for Rental Homes in Depot?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Depot ranges from $495 to $3,800 with an average monthly rent of $1,492.

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

decorative image for Affordable Memphis: The Best Lower Priced Neighborhoods with Character article

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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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.

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Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.

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18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

Written by: Lauren Harrington

Renting your next home can feel thrilling and overwhelming at the same time.