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

How Many Bedrooms?Done
Select your price rangeDone
to
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
Lifestyle Matching SearchDone
Learn more about Lifestyle Search
By AmenitiesDone
By Community TypeDone
Features and AvailabilityDone
Done

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

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.

Read Article

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.

Read Article
property at 10 N Main St

$1,215 - $1,595

1 To 2 Bedroom Rentals

Available Now

10 N Main St

MemphisTN38103
close
View Me
Crescent Bluff II
1 to 2 Bedroom Apartments

Crescent Bluff II

10 E Virginia AveMemphis, TN 38106
  • Utilities Included
close
View Me
Crescent Bluff
1 to 3 Bedroom Apartments

Crescent Bluff

25 E Virginia AveMemphis, TN 38106
  • Utilities Included

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.

Read Article
close
View Me
Pontotoc Gardens
3 Bedroom Apartments

Pontotoc Gardens

537-539 Pontotoc AveMemphis, TN 38126
close
View Me
Exchange Building
Studio to 2 Bedroom Apartments

Exchange Building

9 N 2nd StMemphis, TN 38103
Furnished
  • Utilities Included
close
View Me
2nd Street Flats
1 to 3 Bedroom Apartments

2nd Street Flats

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

W.L.

267 S Main StMemphis, TN 38103
  • Utilities Included
close
View Me
Forum Flats
1 to 3 Bedroom Apartments

Forum Flats

441 E Pontotoc AveMemphis, TN 38126
  • Utilities Included
close
View Me
Patterson Flats
1 to 3 Bedroom Apartments

Patterson Flats

259 E Butler AveMemphis, TN 38126
  • Utilities Included
close
View Me
Jefferson Place
1 to 2 Bedroom Apartments

Jefferson Place

560 S Jefferson PlMemphis, TN 38105
  • Utilities Included
close
View Me
Hope Heights Tower
Studio to 2 Bedroom Apartments

Hope Heights Tower

383 Madison AveMemphis, TN 38103
Senior Living
  • Utilities Included
close
View Me
The Washburn
1 to 2 Bedroom Apartments

The Washburn

60 S Main StMemphis, TN 38103
Corporate Housing

The Art of the Rental Viewing: What to look for during a property tour

Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

Read Article
close
View Me
Annex Lofts
1 to 2 Bedroom Apartments

Annex Lofts

345 S Front StMemphis, TN 38103
close
View Me
Main Street Flats
Studio to 2 Bedroom Apartments

Main Street Flats

101 S Main StMemphis, TN 38103
  • Utilities Included
close
View Me
Cornerstone Flats
1 to 2 Bedroom Apartments

Cornerstone Flats

113 S Main StMemphis, TN 38103
  • Utilities Included
close
View Me
Van Vleet Flats
1 to 2 Bedroom Apartments

Van Vleet Flats

122 Gayoso AveMemphis, TN 38103
  • Utilities Included
close
View Me
Lowenstein
1 to 2 Bedroom Apartments

Lowenstein

66 N Main StMemphis, TN 38103
  • Utilities Included
close
View Me
Cabinet Shop Lofts
Studio to 2 Bedroom Apartments

Cabinet Shop Lofts

436 S Front StMemphis, TN 38103

Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

Read Article
Showing Results 1-50, Page 1 of 1

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 Printer's Alley Lofts 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 Riverside apartments for rent in Memphis, TN:

Apartment ListingModel NameBed/BathPriced From
Printer's Alley LoftsPAL-A21BR,1BA$750
Owens Place Townhomes1 Bed Flat1BR,1BA$760
Crescent Bluff11A501BR,1BA$784
Fielder SquareE1 StudioStudio,1BA$814
Indigo RiverviewPowellStudio,1BA$822
The ChiscaA1r1BR,1BA$927
280 Vance Flats1 Bedroom 1 Bath Unit 1A (ADA)1BR,1BA$950
Forum Flats1-A Type B-60%1BR,1BA$955
Lofts at Union AlleyE2Studio,1BA$956
Number 10 MainNTM-A21BR,1BA$999

Best Value Apartments for Rent in Downtown Riverside, TN

As of March 13, 2026 the best value apartment in the Downtown Riverside area is the $1.09 price per square foot 2 Bedroom Model at The Marine Residence in the in the South Memphis neighborhood starting from $1,653. The second greatest value Downtown Riverside apartment is the B1 Phase II Model at 266 Lofts starting at $1,500 with a $1.46 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.
The Marine Residence2 Bedroom2BR,2BA$1.09
266 LoftsB1 Phase II2BR,2BA$1.46
Number 10 MainNTM-A11BR,1BA$1.41
Crescent Bluff22A602BR,2BA$1.40
The WashburnWAS-A11BR,1BA$1.47
Owens Place Townhomes1 Bed Flat1BR,1BA$1.10
Forum Flats1-C Type B-60%1BR,1BA$1.41
Museum LoftsThe Stax1BR,1BA$1.50
280 Vance Flats1 Bedroom 1 Bath Unit 1A (ADA)1BR,1BA$1.44
Printer's Alley LoftsPAL-A11BR,1BA$1.50

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
Decorative image

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 Article
Decorative image

The 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 Article
Decorative image

Cash 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 Article
Decorative image

Quick 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.

decorative image of people with a giant lease agreement

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 a cheap apartment in Downtown Riverside?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Downtown Riverside is under $999.

What is the price of a cheap apartment in Downtown Riverside?

The cheapest apartment in Downtown Riverside is Printer's Alley Lofts which is listed at $750, while the average apartment in Downtown Riverside costs $2,758.

What types of apartments are the cheapest in Downtown Riverside?

Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 60 regular apartments in Downtown Riverside that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

How do the prices of cheap apartments compare to the average apartment in Downtown Riverside?

Cheap apartments in Downtown Riverside have an average cost of $413 which is $2,345 cheaper than the average rent for all rentals in Downtown Riverside.

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.

decorative image for Maximizing Your Refund: Essential Tax Tips for Renters article

Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.

decorative image for 18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property article

18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

Written by: Lauren Harrington

Renting your next home can feel thrilling and overwhelming at the same time.

decorative image for A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment article

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.