Cheap 1 Bedroom Apartments for Rent in the Downtown Memphis Neighborhood of Memphis, TN from $525 (64 Rentals)

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Genius Ideas and Studio Layout Tips That Maximize Every Square Inch

Transform your studio apartment layout and maximize storage. Get proven ideas from a 20-year property expert to make any small space stylish and functional.

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property at 109 N Main St

$1,050 - $1,295

1 Bedroom Rentals

Available Now

109 N Main St

MemphisTN38103
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699 N 5th St, Unit 2
$1,100
Total Monthly Price

Total Monthly Price

Base Rent
$1,100
Total Monthly Price
$1,100
1 Bedroom Apartment Available Now

699 N 5th St, Unit 2

699 N 5th StMemphis, TN 38107
Furnished
  • Smoke Free
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Riverset Apartments
Rent Specials
$1,150 - $1,315
Total Monthly Price

Total Monthly Price

Base Rent
$1,111 - $2,587
Total Monthly Price
Varies
1 Bedroom Apartments Available Now

Riverset Apartments

100 Riverset LnMemphis, TN 38103
Corporate Housing
  • Verified
  • Customer Reviewed
  • Utilities Included

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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Orleans Station
Rent Specials
$1,403 - $1,628
Total Monthly Price

Total Monthly Price

Base Rent
$1,403 - $2,028
Total Monthly Price
$1,403 - $2,028
1 Bedroom Apartments Available Aug 10

Orleans Station

694 Madison AveMemphis, TN 38103
Student Housing
  • Verified
  • Customer Reviewed
  • Utilities Included

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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The Landing Residences
Rent Specials
$1,492 - $2,277
Total Monthly Price

Total Monthly Price

Base Rent
$1,269 - $6,920
Total Monthly Price
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1 Bedroom Apartments Available Now

The Landing Residences

1 Dr Martin Luther King Jr AveMemphis, TN 38103
Student Housing
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  • Customer Reviewed
  • 3D Tour
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288 Leath St
1 Bedroom Apartments

288 Leath St

288 Leath StMemphis, TN 38105
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Crescent Bluff II
1 Bedroom Apartments

Crescent Bluff II

10 E Virginia AveMemphis, TN 38106
  • Utilities Included
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Crescent Bluff
1 Bedroom Apartments

Crescent Bluff

25 E Virginia AveMemphis, TN 38106
  • Utilities Included
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Exchange Building
1 Bedroom Apartments

Exchange Building

9 N 2nd StMemphis, TN 38103
Furnished
  • Utilities Included

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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Jefferson Place
1 Bedroom Apartments

Jefferson Place

560 S Jefferson PlMemphis, TN 38105
  • Utilities Included
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Uptown Flats
1 Bedroom Apartments

Uptown Flats

627 N Main StMemphis, TN 38107
  • Utilities Included
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Forum Flats
1 Bedroom Apartments

Forum Flats

441 E Pontotoc AveMemphis, TN 38126
  • Utilities Included
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Patterson Flats
1 Bedroom Apartments

Patterson Flats

259 E Butler AveMemphis, TN 38126
  • Utilities Included
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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
  • 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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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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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
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 $851.

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

The cheapest apartment in Downtown Memphis is 288 Leath St which is listed at $625, while the average apartment in Downtown Memphis costs $2,558.

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 196 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 $776 which is $1,782 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.

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