701 Lyman Ave
MemphisTN38107
Cheap Homes for Rent in Downtown Memphis Neighborhood of Memphis, TN from $700 (13 Rentals)
Search the lowest-cost Homes available for rent right now in the Downtown Memphis area of Memphis.
643 Walnut St
MemphisTN38126
164 Keel Ave
MemphisTN38107
109 N Main St
MemphisTN38103
679 Leath St
MemphisTN38107
703 N 3rd 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.
283 Leath St
MemphisTN38105
670 Madison Ave
MemphisTN38103
50 Gayoso Ave
MemphisTN38103
720 Litty Ct
MemphisTN38103
519 N 5th St
MemphisTN38105
66 Monroe Ave
MemphisTN38103
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.
615 Denmark Dr
MemphisTN38103
Showing Results 1-13, 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 | $1,696 | $725 | $2,500 |
| Downtown Memphis 3 Bedroom Homes for Rent | $2,321 | $995 | $3,490 |
| Downtown Memphis 4 Bedroom Homes for Rent | $2,525 | $1,050 | $3,950 |
Browse Homes for Rent in this Neighborhood
There are currently 13 rentals with your search options within a 1 mile radius of the Downtown Memphis Neighborhood of Memphis, TN.
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Downtown Memphis, Memphis, TN Local Guide
- Nearby Memphis neighborhoods
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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. Uptown Square Apartments has the second lowest priced unit, which is a Studio apartment currently listed from $760. 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 |
| Uptown Square Apartments | Studio - Handicapped | Studio,1BA | $760 |
| Owens Place Townhomes | 1 Bed Flat | 1BR,1BA | $760 |
| Indigo Riverview | Emory | Studio,1BA | $761 |
| Crescent Bluff | 11A50 | 1BR,1BA | $784 |
Best Value Apartments for Rent in Downtown Memphis, TN
As of January 12, 2026 the best value apartment in the Downtown Memphis area is the $0.84 price per square foot 2BR/2BA Model at Bickford Square Apartments in the in the Downtown Memphis neighborhood starting from $895. The second greatest value Downtown Memphis apartment is the 2 bd / 2 ba Model at 628 Madison Ave starting at $1,350 with a $1.35 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. |
|---|---|---|---|
| Bickford Square Apartments | 2BR/2BA | 2BR,2BA | $0.84 |
| 628 Madison Ave | 2 bd / 2 ba | 2BR,2BA | $1.35 |
| Island Park/Harbor Town Square | A2 (1x1 Island Park) | 1BR,1BA | $1.36 |
| Linden Yards Apartments | Two Bedroom | 2BR,1BA | $0.97 |
| Edison Park | Two Bedroom Townhome | Studio ,1BA | $0.99 |
| 2nd Street Flats | 22A60 | 2BR,2BA | $1.39 |
| Patterson Flats | 1-A | 1BR,1BA | $1.27 |
| Owens Place Townhomes | 1 Bed Flat | 1BR,1BA | $1.10 |
| The Kendall | 2BR/1.0BA | 2BR,1BA | $1.22 |
| Greenlaw Apartments | 2 bedroom x 1 bath | 2BR,1BA | $1.15 |
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.
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Pet Friendly LifestyleDowntown Memphis, Memphis, TN
Ranked #15
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 248 Apartments for Rent in Downtown Memphis, TN with pricing that ranges from $525 to $5,900. There are also 63 Single Family Homes for rent, Condos, and Townhome rentals currently available in Downtown Memphis ranging from $725 to $3,950.
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 $725 to $3,950 with an average monthly rent of $1,855.
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.
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.
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.
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.