0000-0001 block from U of Memphis
MemphisTN38111
Cheap Homes for Rent in Downtown Memphis Neighborhood of Memphis, TN from $700 (12 Rentals)
Search the lowest-cost Homes available for rent right now in the Downtown Memphis area of Memphis.
645 Walnut St
MemphisTN38126
283 Leath St
MemphisTN38105
66 Monroe Ave
MemphisTN38103
679 Leath St
MemphisTN38107
164 Keel Ave
MemphisTN38107
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.
703 N 3rd St
MemphisTN38107
293 N Manassas St
MemphisTN38105
830 N 7th St
MemphisTN38107
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191 Looney Ave
MemphisTN38107
269 Looney Ave
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.
Showing Results 1-12, 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 | $2,187 | $850 | $4,500 |
| Downtown Memphis 3 Bedroom Homes for Rent | $2,502 | $995 | $4,000 |
| Downtown Memphis 4 Bedroom Homes for Rent | $2,313 | $984 | $3,495 |
| Downtown Memphis 5 Bedroom Homes for Rent | $1,295 | $1,295 | $1,295 |
Browse Homes for Rent in this Neighborhood
There are currently 12 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
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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. Owens Place Townhomes has the second lowest priced unit, which is a 1 Bed 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 |
| Owens Place Townhomes | 1 Bed Flat | 1BR,1BA | $760 |
| Edison Park | One Bedroom High-Rise | Studio,1BA | $765 |
| Crescent Bluff | 11A50 | 1BR,1BA | $784 |
| The Kendall | 2BR/1.0BA | 2BR,1BA | $799 |
Best Value Apartments for Rent in Downtown Memphis, TN
As of October 12, 2025 the best value apartment in the Downtown Memphis area is the $1.02 price per square foot 2-C Model at Patterson Flats in the in the Downtown Memphis neighborhood starting from $1,140. 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. |
|---|---|---|---|
| Patterson Flats | 2-C | 2BR,2BA | $1.02 |
| Bickford Square Apartments | 2BR/2BA | 2BR,2BA | $0.84 |
| 2nd Street Flats | 32A60 | 3BR,2BA | $1.23 |
| 628 Madison Ave | 2 bd / 2 ba | 2BR,2BA | $1.35 |
| The Washburn | WAS-A5 | 1BR,1BA | $1.28 |
| Linden Yards Apartments | Two Bedroom | 2BR,1BA | $0.97 |
| The Metropolitan and Greenlaw Place Apartments | Greenlaw 1 Bedroom Flat | 1BR,1BA | $1.16 |
| Owens Place Townhomes | 1 Bed Flat | 1BR,1BA | $1.10 |
| The Kendall | 2BR/1.0BA | 2BR,1BA | $1.20 |
| Greenlaw Apartments | 2 bedroom x 1 bath | 2BR,1BA | $1.15 |
Quick Rent Budget Calculator
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Pet Friendly LifestyleDowntown Memphis, Memphis, TN
Ranked #11
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 68 Single Family Homes for rent, Condos, and Townhome rentals currently available in Downtown Memphis ranging from $750 to $4,500.
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 $750 to $4,500 with an average monthly rent of $1,768.
Expert Rental Resources
Helpful Apartment Articles, How-To's and Tips
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.
How to Negotiate Your Apartment Lease and Save Money
Written by: Christine Leonard, Esq.
Everything is a negotiation in real estate!
The Rental Move-In Inspection Checklist: A Guide for Renters
Written by: Trey Huguley
The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.
Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between
Written by: Christine Leonard, Esq.
For many people, obstacles can arise during the rental application process for a variety of issues.
The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro
Written by: Christine Leonard, Esq.
Hard truth. Moving is never easy. I’ve done it all – from local moves to cross-country relocations From packing to unpacking the last box, I have found moving to be an exhausting, expensive and stressful experience every time.