Cheap Apartments for Rent in the East Memphis Neighborhood of Memphis, TN from $300 (297 Rentals)

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

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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.

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Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

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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.

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How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.

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East Memphis, Memphis, TN Local Guide

Cheapest Available East Memphis Apartments for Rent

 

The cheapest available apartment rental in the East Memphis area of Memphis, TN is a 1 Bed unit found at 165 N Merton priced from $550. El Dorado has the second lowest priced unit, which is a 1 Bed apartment currently listed from $563. Here are the most affordable East Memphis apartments for rent in Memphis, TN:

Apartment ListingModel NameBed/BathPriced From
165 N Merton1BR/1.0BA1BR,1BA$550
El Dorado1 Bedroom1BR,1BA$563
Monarch on HighlandMHLA11BR,1BA$600
1645 Wells Station Rd2 Beds, 1 bath2BR,1BA$650
3969 Southlawn Ave1 Beds, 1 Baths1BR,1BA$650
1277 Airways Blvd2 Beds, 1 Baths2BR,1BA$650
University Gardens Manor2x1 Classic2BR,1BA$659
Barron CourtBarron Court 2 Bedroom 1 Bath2BR,1BA$664
Oak Grove Flats2BR2BR,1BA$667
Audubon Park PlaceStudioStudio,1BA$695

Best Value Apartments for Rent in East Memphis, TN

As of June 21, 2026 the best value apartment in the East Memphis area is the $0.53 price per square foot 4 Beds, 2 Baths Model at 378 N Highland St in the in the East Memphis neighborhood starting from $1,600. The second greatest value East Memphis apartment is the 3 Beds, 2 Baths Model at 2191 Washington Ave starting at $1,600 with a $0.84 price per square foot in the East Memphis neighborhood. Here is today’s list of the best values for East Memphis apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
378 N Highland St4 Beds, 2 Baths4BR,2BA$0.53
2191 Washington Ave3 Beds, 2 Baths3BR,2BA$0.84
Student Lofts at BristerEntire home 4 Bedrooms 4 Baths(SHARED HOUSING1BR,1BA$0.38
641 S Rembert St, Unit 641641 S Rembert St2BR,2BA$0.91
Brentwood Parc2 Bed/ 2 Bath Towhnome2BR,2BA$0.83
34 N Idlewild St2BR/1.0BA2BR,1BA$0.89
Summer Oaks Apartments4030 Summer2BR,1BA$0.81
Imperial Arms ApartmentsImperial Arms2BR,1BA$0.86
3523-3539 Clayphil Ave2 Beds, 1 Baths2BR,1BA$0.88
Barron CourtBarron Court 2 Bedroom 1 Bath2BR,1BA$0.86

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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Real 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.

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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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Pet Friendly Lifestyle
East Memphis, Memphis, TN

Ranked #7

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

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Lifestyle Ratings

ApartmentHomeLiving brings you comprehensive Lifestyle Ratings of rentals and neighborhoods across the USA, including East Memphis, Memphis, and the greater Memphis area. LifeStyle Ratings are a useful tool for comparing and sorting apartments and neighborhoods when choosing your rental home. This takes in many factors including filtering automatically for convenient access to the outdoors, luxury housing options, transit availability, pet-friendly communities, apartment complexes for the kids, and more. Use Lifestyle Search in the site filter options on this page - and find your Perfect place!

Frequently Asked Questions about Cheap East Memphis Apartments

What is a cheap apartment in East Memphis?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in East Memphis is under $695.

What is the price of a cheap apartment in East Memphis?

The cheapest apartment in East Memphis is 165 N Merton which is listed at $550, while the average apartment in East Memphis costs $1,409.

What types of apartments are the cheapest in East Memphis?

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 159 regular apartments in East Memphis 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 East Memphis?

Cheap apartments in East Memphis have an average cost of $378 which is $1,031 cheaper than the average rent for all rentals in East Memphis.

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.

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