701 Lyman Ave
MemphisTN38107
Cheap Homes for Rent in Downtown Memphis Neighborhood of Memphis, TN from $600 (11 Rentals)
Search the lowest-cost Homes available for rent right now in the Downtown Memphis area of Memphis.
703 N 3rd St
MemphisTN38107
109 N Main St
MemphisTN38103
66 Monroe Ave
MemphisTN38103
679 Leath St
MemphisTN38107
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.
124 Monroe Ave
MemphisTN38103
852 Ioka Ave
MemphisTN38126
720 Litty Ct
MemphisTN38103
615 Denmark Dr
MemphisTN38103
293 N Manassas St
MemphisTN38105
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.
688 Tate Ave
MemphisTN38126
Showing Results 1-11, Page 1 of 1
Downtown Memphis, Memphis, TN Local Guide
How much does it cost to rent a home in Downtown Memphis?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Downtown Memphis 2 Bedroom Homes for Rent | $1,695 | $625 | $2,300 |
| Downtown Memphis 3 Bedroom Homes for Rent | $2,204 | $1,175 | $3,490 |
| Downtown Memphis 4 Bedroom Homes for Rent | $2,330 | $1,645 | $3,495 |
Browse Homes for Rent in this Neighborhood
There are currently 11 rentals with your search options within a 1 mile radius of the Downtown Memphis Neighborhood of Memphis, TN.
Explore Memphis
Downtown Memphis, Memphis, TN Local Guide
- Nearby Memphis neighborhoods
- Nearby Cities
- ZIP codes
- Local Counties
Cheapest Available Downtown Memphis Apartments for Rent
The cheapest available apartment rental in the Downtown Memphis area of Memphis, TN is a 2 Beds unit found at Greenlaw Apartments priced from $750. Printer's Alley Lofts has the second lowest priced unit, which is a 1 Bed apartment currently listed from $750. Here are the most affordable Downtown Memphis apartments for rent in Memphis, TN:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Greenlaw Apartments | 2 bedroom x 1 bath | 2BR,1BA | $750 |
| Printer's Alley Lofts | PAL-A2 | 1BR,1BA | $750 |
| Owens Place Townhomes | 1 Bed Flat | 1BR,1BA | $760 |
| Uptown Square Apartments | Studio - Handicapped | Studio,1BA | $760 |
| Edison Park | One Bedroom High-Rise | Studio,1BA | $765 |
Best Value Apartments for Rent in Downtown Memphis, TN
As of February 26, 2026 the best value apartment in the Downtown Memphis area is the $1.20 price per square foot B4 (2x2 Harbor Town) Model at Island Park/Harbor Town Square in the in the Downtown Memphis neighborhood starting from $1,481. The second greatest value Downtown Memphis apartment is the 2BR/2BA Model at Bickford Square Apartments starting at $895 with a $0.84 price per square foot in the Downtown Memphis neighborhood. Here is today’s list of the best values for Downtown Memphis apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Island Park/Harbor Town Square | B4 (2x2 Harbor Town) | 2BR,2BA | $1.20 |
| Bickford Square Apartments | 2BR/2BA | 2BR,2BA | $0.84 |
| 628 Madison Ave | 2 bd / 2 ba | 2BR,2BA | $1.35 |
| Linden Yards Apartments | Two Bedroom | 2BR,1BA | $0.97 |
| Number 10 Main | NTM-A3 | 1BR,1BA | $1.24 |
| Owens Place Townhomes | 1 Bed Flat | 1BR,1BA | $1.10 |
| Forum Flats | 1-A Type B-60% | 1BR,1BA | $1.40 |
| The Kendall | 2BR/1.0BA | 2BR,1BA | $1.22 |
| Greenlaw Apartments | 2 bedroom x 1 bath | 2BR,1BA | $1.15 |
| Crescent Bluff | 11A50 | 1BR,1BA | $1.37 |
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!
Read Article
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.
Read ArticleThe 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.
Read ArticleCash 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.
Read ArticleQuick 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.
Let everyone know!
Do you know the Downtown Memphis area?
If you’re an expert on all things Downtown Memphis, tell us what you love (and don't) by rating it and writing a review.
Write a Review
Pet Friendly LifestyleDowntown Memphis, Memphis, TN
Ranked #16
Among cities in Tennessee for Apartment listings with Pet Friendly Amenities.
Pet Friendliness Lifestyle Score
4.0Pet Friendly
Frequently Asked Questions about Downtown Memphis
What type of rentals are currently available in Downtown Memphis?
There are currently 251 Apartments for Rent in Downtown Memphis, TN with pricing that ranges from $525 to $5,900. There are also 51 Single Family Homes for rent, Condos, and Townhome rentals currently available in Downtown Memphis ranging from $625 to $3,495.
What is the current price range for Rental Homes in Downtown Memphis?
Today's rental pricing for Homes for Rent, Condos and Townhomes in Downtown Memphis ranges from $625 to $3,495 with an average monthly rent of $1,801.
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
Affordable Memphis: The Best Lower Priced Neighborhoods with Character
Written by: Joshua Carlucci
I’m Josh, your ApartmentHomeLiving.com Local Expert for Memphis.
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.
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.
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.