Cheap Apartments for Rent in the Forest Hill Neighborhood of Memphis, TN from $500 (19 Rentals)

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

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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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X - Gramercy Park
1 to 2 Bedroom Apartments

X - Gramercy Park

2163 Nathaniel Cir WMemphis, TN 38134
Showing Results 1-19, 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 Studio unit found at Elite Living Residence priced from $650. Oak Grove Flats has the second lowest priced unit, which is a 2 Beds apartment currently listed from $667. Here are the most affordable Forest Hill apartments for rent in Memphis, TN:

Apartment ListingModel NameBed/BathPriced From
Elite Living ResidenceStudioStudio,1BA$650
Oak Grove Flats2BR2BR,1BA$667
Summer Trace ApartmentsThe Ayers1BR,1BA$770
Courtyard @ Waring Park2x1 (700)2BR,1BA$775
Sycamore Lake1 Bed 1 Bath1BR,1BA$778

Best Value Apartments for Rent in Forest Hill, TN

As of September 09, 2025 the best value apartment in the Forest Hill area is the $1.10 price per square foot Marquette - 3 Bed, 2 Bath Model at The Stella Apartments in the in the East Memphis neighborhood starting from $1,364. The second greatest value Forest Hill apartment is the 3BR Model at Oak Grove Flats starting at $935 with a $0.94 price per square foot in the East Memphis 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.
The Stella ApartmentsMarquette - 3 Bed, 2 Bath3BR,2BA$1.10
Oak Grove Flats3BR3BR,1.5BA$0.94
Macon Manor2 Bedroom 1 Bathroom2BR,1BA$1.15
Avery Park Apartments2X12BR,1BA$1.10
Greenbrook at Shelby FarmsMagnolia1BR,1BA$1.15
Sycamore Lake1 Bed 1 Bath1BR,1BA$1.04
Deerfield Apartments1.11BR,1BA$1.13
Covington Hills1 BR renovated1BR,1BA$1.14
Brentwood Apartments1x1 Classic1BR,1BA$1.16
Courtyard @ Waring Park2x1 (700)2BR,1BA$1.11

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Pet Friendly Lifestyle
Forest Hill, Memphis, TN

Ranked #40

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

What is the Cheapest Studio apartment in Forest Hill?

Currently the most affordable Cheap Studio Apartment in Forest Hill is at Elite Living Residence listed at $650.

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

The lowest price for a Cheap One Bedroom Forest Hill Apartment is $778 at Sycamore Lake.

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 $667 at Oak Grove Flats.

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 $935.

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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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.

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

Written by: Christine Leonard, Esq.

For many people, obstacles can arise during the rental application process for a variety of issues.

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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Written by: Christine Leonard, Esq.

Hard truth. Moving is never easy. I’ve done it all – from local moves to cross-country relocations From packing to unpacking the last box, I have found moving to be an exhausting, expensive and stressful experience every time.

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Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Written by: Christine Leonard, Esq.

Throughout the day, think about all the times that you have to pay for something. So many of us reach automatically for a credit card or even our phone for a quick payment.