Cheap Apartments for Rent in the Downtown Riverside Neighborhood of Memphis, TN from $700 (50 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Downtown Riverside area of Memphis.

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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

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Crescent Bluff II
1 to 2 Bedroom Apartments

Crescent Bluff II

10 E Virginia AveMemphis, TN 38106
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Crescent Bluff
1 to 3 Bedroom Apartments

Crescent Bluff

25 E Virginia AveMemphis, TN 38106
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Affordable Memphis: The Best Neighborhoods with Character and Lower Rents

Explore affordable Memphis neighborhoods like Victorian Village, Medical District, South Memphis, and Uptown. Find apartments where your rent goes further.

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Pontotoc Gardens
3 Bedroom Apartments

Pontotoc Gardens

537-539 Pontotoc AveMemphis, TN 38126
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2nd Street Flats
1 to 3 Bedroom Apartments

2nd Street Flats

362 S 2nd StMemphis, TN 38103
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W.L.
Studio to 2 Bedroom Apartments

W.L.

267 S Main StMemphis, TN 38103
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Forum Flats
1 to 3 Bedroom Apartments

Forum Flats

441 E Pontotoc AveMemphis, TN 38126
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Patterson Flats
1 to 3 Bedroom Apartments

Patterson Flats

259 E Butler AveMemphis, TN 38126
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Jefferson Place
1 to 2 Bedroom Apartments

Jefferson Place

560 S Jefferson PlMemphis, TN 38105
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Hope Heights Tower
Studio to 2 Bedroom Apartments

Hope Heights Tower

383 Madison AveMemphis, TN 38103
Senior Living
  • Utilities Included

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Main Street Flats
Studio to 2 Bedroom Apartments

Main Street Flats

101 S Main StMemphis, TN 38103
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Cornerstone Flats
1 to 2 Bedroom Apartments

Cornerstone Flats

113 S Main StMemphis, TN 38103
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The Washburn
1 to 2 Bedroom Apartments

The Washburn

60 S Main StMemphis, TN 38103
Corporate Housing
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Van Vleet Flats
1 to 2 Bedroom Apartments

Van Vleet Flats

122 Gayoso AveMemphis, TN 38103
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Lowenstein
1 to 2 Bedroom Apartments

Lowenstein

66 N Main StMemphis, TN 38103
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Annex Lofts
1 to 2 Bedroom Apartments

Annex Lofts

345 S Front StMemphis, TN 38103
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Cabinet Shop Lofts
Studio to 2 Bedroom Apartments

Cabinet Shop Lofts

436 S Front StMemphis, TN 38103

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Downtown Riverside, Memphis, TN Local Guide

Cheapest Available Downtown Riverside Apartments for Rent

 

The cheapest available apartment rental in the Downtown Riverside area of Memphis, TN is a 1 Bed unit found at Owens Place Townhomes priced from $760. Indigo Riverview has the second lowest priced unit, which is a Studio apartment currently listed from $857. Here are the most affordable Downtown Riverside apartments for rent in Memphis, TN:

Apartment ListingModel NameBed/BathPriced From
Owens Place Townhomes1 Bed Flat1BR,1BA$760
Indigo RiverviewEmoryStudio,1BA$857
Printer's Alley LoftsPAL-A21BR,1BA$900
Exchange Building1 Bedroom Small1BR,1BA$925
The ChiscaA1r1BR,1BA$927
280 Vance Flats1 Bedroom 1 Bath Unit 1A (ADA)1BR,1BA$950
Forum Flats1-C Type B-60%1BR,1BA$953
Fielder SquareE1 StudioStudio,1BA$954
The CommonwealthThe TownsendStudio,1BA$995
Lofts at Merchant RowFloor Plan E1BR,1BA$995

Best Value Apartments for Rent in Downtown Riverside, TN

As of December 11, 2025 the best value apartment in the Downtown Riverside area is the $1.51 price per square foot NTM-B5 Model at Number 10 Main in the in the Downtown Memphis neighborhood starting from $1,999. The second greatest value Downtown Riverside apartment is the 32A60 Model at Crescent Bluff starting at $1,312 with a $1.24 price per square foot in the Downtown Memphis neighborhood. Here is today’s list of the best values for Downtown Riverside apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Number 10 MainNTM-B52BR,2BA$1.51
Crescent Bluff32A603BR,2BA$1.24
266 LoftsB12BR,2BA$1.46
Museum LoftsThe Delta1BR,1BA$1.45
2nd Street Flats22A602BR,2BA$1.39
The WashburnWAS-A11BR,1BA$1.58
Lofts at Merchant RowFloor Plan E1BR,1BA$1.42
Owens Place Townhomes1 Bed Flat1BR,1BA$1.10
Forum Flats1-C Type B-60%1BR,1BA$1.41
280 Vance Flats1 Bedroom 1 Bath Unit 1A (ADA)1BR,1BA$1.44

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!

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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.

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Pet Friendly Lifestyle
Downtown Riverside, Memphis, TN

Ranked #21

Among cities in Tennessee for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

3.5
Pet Friendly

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Lifestyle Ratings

ApartmentHomeLiving brings you comprehensive Lifestyle Ratings of neighborhoods, cities, and rental properties across Tennessee, including Memphis. Our Lifestyle Ratings help you zero-in on the perfect place to call home. This takes in many factors including searching for the best amenities, and proximity to parks, transit availability, pet-friendly communities, family-friendly amenities, and how walkable or bikeable each community and area is. Find Lifestyle Search in the filter options (above). Happy Searching!

Frequently Asked Questions about Cheap Downtown Riverside Apartments

What is the Cheapest Studio apartment in Downtown Riverside?

Currently the most affordable Cheap Studio Apartment in Downtown Riverside is at Indigo Riverview listed at $820.

How much is rent for a Cheap One Bedroom Downtown Riverside Apartment?

The lowest price for a Cheap One Bedroom Downtown Riverside Apartment is $760 at Owens Place Townhomes.

What is the lowest price for a Cheap Two Bedroom Downtown Riverside Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Downtown Riverside is starting from $945 at Owens Place Townhomes.

What is the most affordable Downtown Riverside Three Bedroom Apartment?

The best deal on a cheap Downtown Riverside Three Bedroom Apartment rental is at Owens Place Townhomes and starts from $1,020.

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

decorative image for Affordable Memphis: The Best Lower Priced Neighborhoods with Character article

Affordable Memphis: The Best Lower Priced Neighborhoods with Character

Written by: Joshua Carlucci

I’m Josh, your ApartmentHomeLiving.com Local Expert for Memphis.

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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.

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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.

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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate!