Cheap 1 Bedroom Apartments for Rent in the Downtown Memphis Neighborhood of Memphis, TN from $525 (56 Rentals)

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Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts

Create a productive work-from-home apartment setup, even in a small space or studio. Discover layout ideas, desk solutions, and organization tips that actually work.

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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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Metro67
Rent Specials
$1,491 - $1,926
Total Monthly Price

Total Monthly Price

Base Rent
$1,498 - $3,585
Total Monthly Price
$1,498 - $3,585
1 Bedroom Apartments Available Now

Metro67

67 Madison AveMemphis, TN 38103
Student Housing
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Crescent Bluff
1 Bedroom Apartments

Crescent Bluff

25 E Virginia AveMemphis, TN 38106
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Crescent Bluff II
1 Bedroom Apartments

Crescent Bluff II

10 E Virginia AveMemphis, TN 38106
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Exchange Building
1 Bedroom Apartments

Exchange Building

9 N 2nd StMemphis, TN 38103
Furnished
  • Utilities Included
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Forum Flats
1 Bedroom Apartments

Forum Flats

441 E Pontotoc AveMemphis, TN 38126
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Uptown Flats
1 Bedroom Apartments

Uptown Flats

627 N Main StMemphis, TN 38107
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Jefferson Place
1 Bedroom Apartments

Jefferson Place

560 S Jefferson PlMemphis, TN 38105
  • Utilities Included

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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Patterson Flats
1 Bedroom Apartments

Patterson Flats

259 E Butler AveMemphis, TN 38126
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The Washburn
1 Bedroom Apartments

The Washburn

60 S Main StMemphis, TN 38103
Corporate Housing
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Cornerstone Flats
1 Bedroom Apartments

Cornerstone Flats

113 S Main StMemphis, TN 38103
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W.L.
1 Bedroom Apartments

W.L.

267 S Main StMemphis, TN 38103
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Main Street Flats
1 Bedroom Apartments

Main Street Flats

101 S Main StMemphis, TN 38103
  • 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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Downtown Memphis, Memphis, TN Local Guide

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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Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University

From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.

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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
Downtown Memphis, Memphis, TN

Ranked #17

Among cities in Tennessee for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

3.5
Pet Friendly

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Frequently Asked Questions about Cheap Downtown Memphis Apartments

What is a cheap apartment in Downtown Memphis?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Downtown Memphis is under $895.

What is the price of a cheap apartment in Downtown Memphis?

The cheapest apartment in Downtown Memphis is Owens Place Townhomes which is listed at $760, while the average apartment in Downtown Memphis costs $2,486.

What types of apartments are the cheapest in Downtown Memphis?

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 185 regular apartments in Downtown Memphis 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 Downtown Memphis?

Cheap apartments in Downtown Memphis have an average cost of $747 which is $1,739 cheaper than the average rent for all rentals in Downtown Memphis.

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.

decorative image for A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back article

A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back

Written by: Lauren Harrington

I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.

decorative image for Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts article

Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts

Written by: Lauren Harrington

This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

decorative image for What Does “Rent Burdened” Mean? How Much Rent Is Too Much article

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.