218 Chelsea Ave
MemphisTN38107
Cheap Homes for Rent in the Downtown Memphis Neighborhood of Memphis, TN from $800 (9 Rentals)
Search the lowest-cost Homes available for rent right now in the Downtown Memphis area of Memphis.
310 Jones St
MemphisTN38105
703 N 3rd St
MemphisTN38107
401 N Manassas St
MemphisTN38105
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.
437 Monroe Ave
MemphisTN38103
437 Monroe Ave, Unit 106
437 Monroe Ave
MemphisTN38103
548 N 6th St
MemphisTN38105
66 S Front St
MemphisTN38103
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.
413 S Main St
MemphisTN38103
Showing Results 1-9, 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 | $2,198 | $800 | $3,390 |
| Downtown Memphis 3 Bedroom Homes for Rent | $2,322 | $995 | $3,500 |
| Downtown Memphis 4 Bedroom Homes for Rent | $1,195 | $1,195 | $1,195 |
Browse Homes for Rent in this Neighborhood
There are currently 9 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 1 Bed unit found at 288 Leath St priced from $625. Helix at the District - Utilities Included has the second lowest priced unit, which is a 1 Bed apartment currently listed from $744. Here are the most affordable Downtown Memphis apartments for rent in Memphis, TN:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| 288 Leath St | 1 Beds, 1 Baths | 1BR,1BA | $625 |
| Helix at the District - Utilities Included | 1 Bedroom 1 Bathroom | 1BR,1BA | $744 |
| Greenlaw Apartments | 2 bedroom x 1 bath | 2BR,1BA | $750 |
Best Value Apartments for Rent in Downtown Memphis, TN
As of July 12, 2026 the best value apartment in the Downtown Memphis area is the $1.22 price per square foot 2 BR Model at Court Square Apartments in the in the Downtown Memphis neighborhood starting from $1,776. The second greatest value Downtown Memphis apartment is the WAS-B3 Model at The Washburn starting at $1,250 with a $0.97 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. |
|---|---|---|---|
| Court Square Apartments | 2 BR | 2BR,2BA | $1.22 |
| The Washburn | WAS-B3 | 2BR,2BA | $0.97 |
| Downtown YMCA Lofts | 1 Beds, 1 Baths | 1BR,1BA | $1.09 |
| Bickford Square Apartments | 2BR/2BA | 2BR,2BA | $0.84 |
| 628 Madison Ave | 1 bd / 1 ba | 1BR,1BA | $1.10 |
| South Main Artspace Lofts | 1 Bedroom | 1BR,1BA | $1.00 |
| Linden Yards Apartments | Two Bedroom | 2BR,1BA | $0.97 |
| Uptown Flats | 1-B Type A | 1BR,1BA | $1.28 |
| Owens Place Townhomes | 1 Bed Flat | 1BR,1BA | $1.10 |
| 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 ArticleReal 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.
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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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.
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Pet Friendly LifestyleDowntown Memphis, Memphis, TN
Ranked #17
Among cities in Tennessee for Apartment listings with Pet Friendly Amenities.
Pet Friendliness Lifestyle Score
3.5Pet Friendly
Frequently Asked Questions about Downtown Memphis
What type of rentals are currently available in Downtown Memphis?
There are currently 253 Apartments for Rent in Downtown Memphis, TN with pricing that ranges from $525 to $5,148. There are also 39 Single Family Homes for rent, Condos, and Townhome rentals currently available in Downtown Memphis ranging from $800 to $3,500.
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 $800 to $3,500 with an average monthly rent of $1,788.
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.
Helpful Local Expert Guides
Affordable Memphis: The Best Lower Priced Neighborhoods with Character
Written by: Joshua Carlucci
I’m Josh, your ApartmentHomeLiving.com Local Expert for Memphis.
College Life in Memphis: Affordable Neighborhoods Where Students Really Live and Thrive
Written by: Joshua Carlucci
I’m Josh, your ApartmentHomeLiving.com Local Expert for Memphis.
The Local Memphis Expert's Guide to Renting Near the Citys Top Employers
Written by: Joshua Carlucci
I'm Josh, your ApartmentHomeLiving.
Memphis, Tennessee: A Local Expert's Insider Guide to the Bluff City
Written by: Joshua Carlucci
Hello from Memphis, Tennessee. I'm Josh, your ApartmentHomeLiving.com Local Expert for Memphis, and I spent years in this city eating, writing, cooking, studying, and getting to know it block by block.
Articles, How-To's, and Tips
Renters Insurance 101: What It Is, What It Covers, and Why You Need It
Written by: Robin Stewart
Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.
Apartment Occupancy Rates: Renter Attraction vs Renter Retention
Written by: Robin Stewart
There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.
How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide
Written by: Robin Stewart
Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.
Pet-Friendly Renting: Everything You Need to Know Before You Move
Written by: Christine Leonard, Esq.
For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.