220 Mill Ave
MemphisTN38105
Cheap Homes for Rent in Downtown Memphis Neighborhood of Memphis, TN from $700 (7 Rentals)
Search the lowest-cost Homes available for rent right now in the Downtown Memphis area of Memphis.
679 Leath St
MemphisTN38107
670 Madison Ave
MemphisTN38103
109 N Main St
MemphisTN38103
378 Mulberry St
MemphisTN38103
1033 N 3rd St
MemphisTN38107
92 S Main St
MemphisTN38103
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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 | $2,049 | $795 | $3,100 |
| Downtown Memphis 3 Bedroom Homes for Rent | $2,943 | $1,050 | $10,000+ |
| Downtown Memphis 4 Bedroom Homes for Rent | $2,311 | $1,295 | $3,995 |
Browse Homes for Rent in this Neighborhood
There are currently 7 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 1 Bed unit found at Owens Place Townhomes priced from $760. Edison Park has the second lowest priced unit, which is a Studio apartment currently listed from $765. Here are the most affordable Downtown Memphis apartments for rent in Memphis, TN:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Owens Place Townhomes | 1 Bed Flat | 1BR,1BA | $760 |
| Edison Park | One Bedroom High-Rise | Studio,1BA | $765 |
| Crescent Bluff | 1 Bedroom 1 Bath 50% | 1BR,1BA | $784 |
Best Value Apartments for Rent in Downtown Memphis, TN
As of June 28, 2025 the best value apartment in the Downtown Memphis area is the $1.24 price per square foot 2 BR Model at Court Square Apartments in the in the Downtown Memphis neighborhood starting from $1,589. The second greatest value Downtown Memphis apartment is the Metropolitan Two Bedroom Model at The Metropolitan and Greenlaw Place Apartments starting at $1,000 with a $0.88 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 | $1.24 |
| The Metropolitan and Greenlaw Place Apartments | Metropolitan Two Bedroom | 2BR,2BA | $0.88 |
| Bickford Square Apartments | 2BR/2BA | 2BR,2BA | $0.84 |
| Patterson Flats | 2-A Type B | 2BR,2BA | $1.11 |
| 628 Madison Ave | 2 bd / 2 ba | 2BR,2BA | $1.35 |
| The Washburn | A5 | 1BR,1BA | $1.28 |
| Linden Yards Apartments | Two Bedroom | 2BR,1BA | $0.97 |
| 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 | $1.22 |
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Frequently Asked Questions about Downtown Memphis
What type of rentals are currently available in Downtown Memphis?
There are currently 243 Apartments for Rent in Downtown Memphis, TN with pricing that ranges from $525 to $6,900. There are also 46 Single Family Homes for rent, Condos, and Townhome rentals currently available in Downtown Memphis ranging from $795 to $10,000.
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 $795 to $10,000 with an average monthly rent of $2,208.
How much are larger Three and Four Bedroom Rentals in Downtown Memphis?
For those who are looking for larger living arrangements, Three Bedroom Apartments in Downtown Memphis range from $995 to $3,415, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,050 to $10,000. Four Bedroom Single-Family rentals are also available starting from $1,295 and Four Bedroom Apartments start at $2,995.
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.
Roommate Matching: Finding the Right Fit and Avoiding Pitfalls
Written by: Cheryl Bowman
A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.
The Art of the Rental Viewing: What to look for during a property tour
Written by: Marie Brown
You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.
Know Your Budget: Calculating What You Can Realistically Afford When Renting
Written by: Lauren Harrington
Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.
The Freedom of Short-Term Leases: Exploring the Advantages for Renters
Written by: Bobbi Jackson
If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.