Cheap Homes for Rent in Depot Neighborhood of Memphis, TN from $500 (26 Rentals)

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

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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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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Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

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Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

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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 $545. Manor Park Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $700. Here are the most affordable Depot apartments for rent in Memphis, TN:

Apartment ListingModel NameBed/BathPriced From
El Dorado1 Bedroom1BR,1BA$545
Manor Park Apartments1 Bed / 1 Bath1BR,1BA$700
Coronado Manor1 bedroom1BR,1BA$749
Grainge Hill Apartments2 Bed / 1.5 Bath2BR,1BA$849
Ruby Oaks Apartments2 Beds, 1 bath2BR,1BA$865
The Wendell1BR/1.0BA1BR,1BA$995
Element at MidtownStudioStudio,1BA$1,015
Bonsai at Central GardensStudio- without Washer/DryerStudio,1BA$1,034
The Flats @ Cooper YoungStudioStudio,1BA$1,050

Best Value Apartments for Rent in Depot, TN

As of June 19, 2025 the best value apartment in the Depot area is the $1.00 price per square foot 1920 Lamar Ave Model at 1920 Lamar Ave, Unit APT 3 in the in the East Memphis neighborhood starting from $1,000. 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.
1920 Lamar Ave, Unit APT 31920 Lamar Ave2BR,1BA$1.00
Ruby Oaks Apartments2 Beds, 2 baths2BR,2BA$0.95
Grainge Hill Apartments2 Bed / 1.5 Bath2BR,1.5BA$1.08
1875 Felix Ave, Unit 21875 Felix Ave1BR,1BA$1.73
931 S Cox St, Unit Upstairs931 S Cox StStudio ,1BA$1.65
The Wendell1BR/1.0BA1BR,1BA$1.53
Manor Park Apartments1 Bed / 1 Bath1BR,1BA$1.12
El Dorado1 Bedroom1BR,1BA$0.95
Coronado Manor1 bedroom1BR,1BA$1.34
The Flats @ Cooper YoungStudioStudio ,1BA$2.00

Quick Rent Budget Calculator

How much rent can you afford?

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Frequently Asked Questions about Depot

What type of rentals are currently available in Depot?

There are currently 103 Apartments for Rent in Depot, TN with pricing that ranges from $549 to $4,480. There are also 132 Single Family Homes for rent, Condos, and Townhome rentals currently available in Depot ranging from $550 to $3,000.

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 $550 to $3,000 with an average monthly rent of $1,323.

How much are larger Three and Four Bedroom Rentals in Depot?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Depot range from $699 to $4,480, while Three Bedroom Homes, Condos, and Townhomes for rent range from $800 to $2,300. Four Bedroom Single-Family rentals are also available starting from $1,150 and Four Bedroom Apartments start at $549.

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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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

Written by: Cheryl Bowman

A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.

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The Art of the Rental Viewing: What to look for during a property tour

Written by: Marie Brown

You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.

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Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.

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The Freedom of Short-Term Leases: Exploring the Advantages for Renters

Written by: Bobbi Jackson

If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.