Cheap Apartments for Rent in the Forest Hill Neighborhood of Memphis, TN from $500 (44 Rentals)

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

Memphis, Tennessee: A Local Expert's Insider Guide to the Bluff City

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The Local Memphis Expert's Guide to Renting Near the City's Top Employers

Memphis apartment guide from a local expert, breaking down neighborhoods, average rent, and ideal commute times near the 5 largest employers - FedEx, St. Jude, U of M, Methodist, and AutoZone.

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Macon Manor North
1 to 2 Bedroom Apartments

Macon Manor North

4510 Macon RdMemphis, TN 38122
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4455 Macon Rd
1 to 2 Bedroom Apartments

4455 Macon Rd

4455 Macon RdMemphis, TN 38122
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Elite Living Residence
Studio Apartments

Elite Living Residence

5225 Summer AveMemphis, TN 38122
Corporate Housing
  • Utilities Included
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Gramercy Park
1 to 2 Bedroom Apartments

Gramercy Park

2163 Nathaniel Cir WMemphis, TN 38134

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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Highland Chateau
1 to 3 Bedroom Apartments

Highland Chateau

5246 Raleigh Lagrange RdMemphis, TN 38134
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Bartlett Crossing
1 to 2 Bedroom Apartments

Bartlett Crossing

5760 S Silvercreek DrMemphis, TN 38134
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Shelby Grove
2 Bedroom Apartments

Shelby Grove

6357 Shelby Briar DrMemphis, TN 38134

Renters Insurance 101: What It Is, What It Covers, and Why You Need It

From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

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Cedar Ridge
2 Bedroom Apartments

Cedar Ridge

6977 Amberly Village DrCordova, TN 38018
Showing Results 1-44, Page 1 of 1

Forest Hill, Memphis, TN Local Guide

Cheapest Available Forest Hill Apartments for Rent

 

The cheapest available apartment rental in the Forest Hill area of Memphis, TN is a 1 Bed unit found at Summer Trace Apartments priced from $680. The Summit Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $704. Here are the most affordable Forest Hill apartments for rent in Memphis, TN:

Apartment ListingModel NameBed/BathPriced From
Summer Trace ApartmentsThe Ayers1BR,1BA$680
The Summit ApartmentsAsh1BR,1BA$704
Edgewater Apartments1BR/1BA1BR,1BA$705
Avery Park Apartments1X11BR,1BA$745
Greenbrook at Shelby FarmsMagnolia1BR,1BA$788
Mendenhall Gardens1A1BR,1BA$799
The Canopy 2200One Bedroom One Bathroom Large1BR,1BA$829
The Stella ApartmentsColumbus - 1 Bed, 1 Bath1BR,1BA$848
Gramercy Park1 Bedroom 1 Bathroom1BR,1BA$850
Brentwood ApartmentsBrentwood 1 bed 1 bath 735sqft1BR,1BA$895

Best Value Apartments for Rent in Forest Hill, TN

As of August 18, 2026 the best value apartment in the Forest Hill area is the $0.74 price per square foot 4 Bed, 3 Bath Model at Sunridge Townhomes in the in the Raleigh neighborhood starting from $1,545. The second greatest value Forest Hill apartment is the 3 Bed 2 Bath Model at The Meridian Apartments starting at $1,100 with a $0.92 price per square foot in the Raleigh neighborhood. Here is today’s list of the best values for Forest Hill apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Sunridge Townhomes4 Bed, 3 Bath4BR,3BA$0.74
The Meridian Apartments3 Bed 2 Bath3BR,2BA$0.92
The Stella ApartmentsMagellan - 2 Bed, 2 Bath2BR,2BA$1.09
AbingtonTown Home2BR,1.5BA$1.08
Oak Grove Flats2BR2BR,1BA$1.05
Macon Manor2 Bedroom 1 Bathroom2BR,1BA$1.15
The Summereast ApartmentsB22BR,1.5BA$1.16
Greenbrook at Shelby FarmsPine1BR,1BA$1.16
Edgewater Apartments1BR/1BA1BR,1BA$0.94
Summer Trace ApartmentsThe Ayers1BR,1BA$1.13

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
Forest Hill, Memphis, TN

Ranked #42

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

Pet Friendliness Lifestyle Score

3.0
Pet Friendly

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Lifestyle Ratings

ApartmentHomeLiving.com compiles millions of data points to bring you comprehensive Lifestyle Ratings of neighborhoods, cities, and rental properties across Tennessee including Forest Hill, Memphis, and the greater Memphis area. LifeStyle Ratings are the best way to sort through finding a place to live - beyond price and floorplan. This takes in many factors including our Star Ratings to compare for the best proximity to parks and outdoor amenities, luxury amenities, pet-friendly features, multifamily communities for the kids, proximity to transit, and more. These search options are in the site filters at the top of this page.

Frequently Asked Questions about Cheap Forest Hill Apartments

How much is rent for a Cheap One Bedroom Forest Hill Apartment?

The lowest price for a Cheap One Bedroom Forest Hill Apartment is $680 at Summer Trace Apartments.

What is the lowest price for a Cheap Two Bedroom Forest Hill Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Forest Hill is starting from $780 at Summer Trace Apartments.

What is the most affordable Forest Hill Three Bedroom Apartment?

The best deal on a cheap Forest Hill Three Bedroom Apartment rental is at Oak Grove Flats and starts from $1,005.

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.

Helpful Local Expert Guides

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Memphis, Tennessee: A Local Expert's Insider Guide to the Bluff City

Written by: Joshua Carlucci

Hello from Memphis, Tennessee. I'm Josh, your ApartmentHomeLiving.com Local Expert for Memphis, and I spent years in this city eating, writing, cooking, studying, and getting to know it block by block.

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The Local Memphis Expert's Guide to Renting Near the Citys Top Employers

Written by: Joshua Carlucci

I'm Josh, your ApartmentHomeLiving.

decorative image for College Life in Memphis: Affordable Neighborhoods Where Students Really Live and Thrive article

College Life in Memphis: Affordable Neighborhoods Where Students Really Live and Thrive

Written by: Joshua Carlucci

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

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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.

Articles, How-To's, and Tips

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Rent According to Income: A Look at Income-Restricted Rentals

Written by: Robin Stewart

The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.

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Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags

Written by: Robin Stewart

Renters want to find a great apartment, the right place for them, one that checks all the boxes of location, rental cost, amenities, safety, and more.

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First Apartment Regrets: Real Renters Share What They'd Do Differently

Written by: Robin Stewart

Hindsight is 20/20. Live and Learn. With age comes wisdom. We’re familiar with all those expressions, and all of them apply to lessons first-time renters learn.

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Renters Insurance 101: What It Is, What It Covers, and Why You Need It

Written by: Robin Stewart

Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.