Cheap Homes for Rent in East Memphis Neighborhood of Memphis, TN from $500 (183 Rentals)

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

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.

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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.

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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.

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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.

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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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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 $580. 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$580
Yugo Memphis Southern4 Bed, 4 Bath Classic4BR,4BA$599
Monarch on HighlandMHLA11BR,1BA$600
1645 Wells Station Rd2 Beds, 1 bath2BR,1BA$650
University Gardens Manor2x1 Classic2BR,1BA$659
Oak Grove Flats2BR2BR,1BA$667
Barron CourtBarron Court 2 Bedroom 1 Bath2BR,1BA$681
Audubon Park PlaceStudioStudio,1BA$695
Grahamwood Place1 bedroom 1 bathroom1BR,1BA$699

Best Value Apartments for Rent in East Memphis, TN

As of May 07, 2026 the best value apartment in the East Memphis area is the $0.38 price per square foot Entire home 4 Bedrooms 4 Baths Model at Student Lofts at Brister in the in the East Memphis neighborhood starting from $695. The second greatest value East Memphis apartment is the 2 Bed/ 2 Bath Towhnome Model at Brentwood Parc starting at $850 with a $0.83 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.
Student Lofts at BristerEntire home 4 Bedrooms 4 Baths1BR,1BA$0.38
Brentwood Parc2 Bed/ 2 Bath Towhnome2BR,2BA$0.83
Oak Grove Flats3BR3BR,1.5BA$0.94
Spottswood Manor2 Bedroom Townhome2BR,1.5BA$0.93
High Point Apartments2 Bedroom 1 Bathroom2BR,1BA$0.77
Summer Oaks Apartments4030 Summer2BR,1BA$0.81
Imperial Arms ApartmentsImperial Arms2BR,1BA$0.86
AbingtonTown Home2BR,1.5BA$0.93
Barron CourtBarron Court 2 Bedroom 1 Bath2BR,1BA$0.87
Grahamwood Place1 bedroom 1 bathroom1BR,1BA$0.93

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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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.

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Pet Friendly Lifestyle
East Memphis, Memphis, TN

Ranked #4

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

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Frequently Asked Questions about East Memphis

What type of rentals are currently available in East Memphis?

There are currently 625 Apartments for Rent in East Memphis, TN with pricing that ranges from $580 to $7,122. There are also 408 Single Family Homes for rent, Condos, and Townhome rentals currently available in East Memphis ranging from $550 to $6,999.

What is the current price range for Rental Homes in East Memphis?

Today's rental pricing for Homes for Rent, Condos and Townhomes in East Memphis ranges from $550 to $6,999 with an average monthly rent of $1,866.

How much are larger Three and Four Bedroom Rentals in East Memphis?

For those who are looking for larger living arrangements, Three Bedroom Apartments in East Memphis range from $715 to $7,122, while Three Bedroom Homes, Condos, and Townhomes for rent range from $750 to $3,000. Four Bedroom Single-Family rentals are also available starting from $1,175 and Four Bedroom Apartments start at $640.

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

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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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A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back

Written by: Lauren Harrington

I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.

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Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts

Written by: Lauren Harrington

This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

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What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Written by: Lauren Harrington

This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.