Cheap Homes for Rent in East Memphis Neighborhood of Memphis, TN from $500 (232 Rentals)

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

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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 4015 Summer Ave priced from $550. El Dorado has the second lowest priced unit, which is a 1 Bed apartment currently listed from $591. Here are the most affordable East Memphis apartments for rent in Memphis, TN:

Apartment ListingModel NameBed/BathPriced From
4015 Summer AveOne1BR,1BA$550
El Dorado1 Bedroom1BR,1BA$591
Yugo Memphis Southern4 Bed, 4 Bath Classic4BR,4BA$599
Village Square2068 #31BR,1BA$625
Coronado Manor1 bedroom1BR,1BA$649
1645 Wells Station Rd2 Beds, 1 bath2BR,1BA$650
Elite Living ResidenceStudioStudio,1BA$650
Thompson HeightsAmazing Unit2BR,1BA$650
University Gardens Manor2x1 Classic2BR,1BA$659
Oak Grove Flats2BR2BR,1BA$667

Best Value Apartments for Rent in East Memphis, TN

As of October 27, 2025 the best value apartment in the East Memphis area is the $0.69 price per square foot 4 Bedroom Model at Barksdale Flats in the in the East Memphis neighborhood starting from $1,595. The second greatest value East Memphis apartment is the Student Housing Per Person Model at 3570 Spottswood Ave starting at $750 with a $0.38 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.
Barksdale Flats4 Bedroom4BR,2BA$0.69
3570 Spottswood AveStudent Housing Per Person5BR,5BA$0.38
Student Lofts at BristerEntire home 4 Bedrooms 4 Baths1BR,1BA$0.38
Audubon DownsTwo Bedroom2BR,1BA$0.93
Spottswood Manor2 Bedroom Townhome2BR,1.5BA$0.93
Summer Oaks Apartments4030 Summer2BR,1BA$0.81
Oak Grove Flats2BR2BR,1BA$0.78
Thompson HeightsAmazing Unit2BR,1BA$0.81
Grahamwood Place-New1 bedroom 1 bathroom1BR,1BA$0.93
4015 Summer AveOne1BR,1BA$0.88

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Pet Friendly Lifestyle
East Memphis, Memphis, TN

Ranked #6

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 613 Apartments for Rent in East Memphis, TN with pricing that ranges from $550 to $7,423. There are also 506 Single Family Homes for rent, Condos, and Townhome rentals currently available in East Memphis ranging from $500 to $6,000.

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 $500 to $6,000 with an average monthly rent of $1,672.

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 $759 to $3,400, while Three Bedroom Homes, Condos, and Townhomes for rent range from $750 to $3,850. Four Bedroom Single-Family rentals are also available starting from $850 and Four Bedroom Apartments start at $599.

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.

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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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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! 

decorative image for The Rental Move-In Inspection Checklist: A Guide for Renters article

The Rental Move-In Inspection Checklist: A Guide for Renters

Written by: Trey Huguley

The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.