Cheap Apartments for Rent in the Forest Hill Neighborhood of Memphis, TN from $500 (46 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Forest Hill 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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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
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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

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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Shelby Grove
2 Bedroom Apartments

Shelby Grove

6357 Shelby Briar DrMemphis, TN 38134
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Cedar Ridge
2 Bedroom Apartments

Cedar Ridge

6977 Amberly Village DrCordova, TN 38018

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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Showing Results 1-46, 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 2 Beds unit found at Oak Grove Flats priced from $667. Summer Trace Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $685. Here are the most affordable Forest Hill apartments for rent in Memphis, TN:

Apartment ListingModel NameBed/BathPriced From
Oak Grove Flats2BR2BR,1BA$667
Summer Trace ApartmentsThe Ayers1BR,1BA$685
Edgewater Apartments1BR/1BA1BR,1BA$705
The Summit ApartmentsAsh1BR,1BA$746
Avery Park Apartments1X11BR,1BA$770
Covington HillsCVHA1r1BR,1BA$799
The Canopy 2200One Bedroom One Bathroom1BR,1BA$799
Greenbrook at Shelby FarmsPine1BR,1BA$819
Mendenhall Gardens1A1BR,1BA$825
The SummereastA11BR,1BA$830

Best Value Apartments for Rent in Forest Hill, TN

As of July 03, 2026 the best value apartment in the Forest Hill area is the $0.76 price per square foot 4 Bed, 3 Bath Model at Sunridge Townhomes in the in the Raleigh neighborhood starting from $1,595. The second greatest value Forest Hill apartment is the 3brTH 2.5ba Model at Village of Sycamore Ridge starting at $1,175 with a $0.73 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.
Sunridge Townhomes4 Bed, 3 Bath4BR,3BA$0.76
Village of Sycamore Ridge3brTH 2.5ba3BR,2.5BA$0.73
The Stella ApartmentsMagellan - 2 Bed, 2 Bath2BR,2BA$1.08
The Glen Townhomes2 BD2BR,1.5BA$1.02
Oak Grove Flats3BR3BR,1.5BA$0.94
AbingtonTown Home2BR,1.5BA$1.08
Mendenhall Gardens1A1BR,1BA$1.05
Greenbrook at Shelby FarmsSycamore1BR,1BA$1.14
Edgewater Apartments1BR/1BA1BR,1BA$0.94
Summer Trace ApartmentsThe Ayers1BR,1BA$1.14

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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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 #36

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 $685 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 $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

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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Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.

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Pet-Friendly Renting: Everything You Need to Know Before You Move

Written by: Christine Leonard, Esq.

For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.