Cheap Homes for Rent in Depot Neighborhood of Memphis, TN from $500 (48 Rentals)

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

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Showing Results 1-48, 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$741
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 11, 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$0.96
Airways2 Bedroom, 1 Bathroom2BR,1BA$1.28
El Dorado1 Bedroom1BR,1BA$0.98
The Flats @ Cooper YoungStudioStudio ,1BA$1.73

Frequently Asked Questions about Depot

What type of rentals are currently available in Depot?

There are currently 101 Apartments for Rent in Depot, TN with pricing that ranges from $617 to $1,750. There are also 145 Single Family Homes for rent, Condos, and Townhome rentals currently available in Depot ranging from $550 to $4,900.

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 $4,900 with an average monthly rent of $1,972.

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.