Cheap Homes for Rent in Frayser Neighborhood of Memphis, TN from $500 (30 Rentals)

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

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Frayser, Memphis, TN Local Guide

Cheapest Available Frayser Apartments for Rent

 

The cheapest available apartment rental in the Frayser area of Memphis, TN is a 1 Bed unit found at Renaissance at Steele priced from $660. University Gardens Manor has the second lowest priced unit, which is a 2 Beds apartment currently listed from $709. Here are the most affordable Frayser apartments for rent in Memphis, TN:

Apartment ListingModel NameBed/BathPriced From
Renaissance at Steele1 bedroom1BR,1BA$660
University Gardens Manor2x1 Classic2BR,1BA$709
Greenlaw Apartments2 bedroom x 1 bath2BR,1BA$750
The Kendall2BR/1.0BA2BR,1BA$799
The Metropolitan and Greenlaw Place ApartmentsGreenlaw 1 Bedroom Flat1BR,1BA$850
Love Midtown Apartments1 Bed 1 Bath1BR,1BA$890
Bickford Square Apartments2BR/2BA2BR,2BA$895
Woodglen VillageTwo Bedroom One Bathroom2BR,1BA$970

Best Value Apartments for Rent in Frayser, TN

As of October 22, 2025 the best value apartment in the Frayser area is the $0.84 price per square foot 2BR/2BA Model at Bickford Square Apartments in the in the Downtown Memphis neighborhood starting from $895. The second greatest value Frayser apartment is the Two Bedroom One Bathroom Model at Woodglen Village starting at $970 with a $1.09 price per square foot in the Frayser neighborhood. Here is today’s list of the best values for Frayser apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Bickford Square Apartments2BR/2BA2BR,2BA$0.84
Woodglen VillageTwo Bedroom One Bathroom2BR,1BA$1.09
University Gardens ManorGold Unit2BR,1BA$1.19
3213 Thomas St, Unit 23213 Thomas St2BR,1BA$0.90
The Metropolitan and Greenlaw Place ApartmentsGreenlaw 1 Bedroom Flat1BR,1BA$1.16
The Kendall2BR/1.0BA2BR,1BA$1.20
Love Midtown Apartments1 Bed 1 Bath1BR,1BA$1.37
Greenlaw Apartments2 bedroom x 1 bath2BR,1BA$1.15
Renaissance at Steele1 bedroom1BR,1.5BA$1.27

Apartment Common Area Rules: What Renters Need to Know

From the lounge to the laundry room, understand your rights and responsibilities in shared apartment spaces. Get tips on pet rules, noise, and security.

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

Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.

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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
Frayser, Memphis, TN

Ranked #90

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

Pet Friendliness Lifestyle Score

2.5
Pet Friendly

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Frequently Asked Questions about Frayser

What type of rentals are currently available in Frayser?

There are currently 104 Apartments for Rent in Frayser, TN with pricing that ranges from $550 to $995. There are also 124 Single Family Homes for rent, Condos, and Townhome rentals currently available in Frayser ranging from $525 to $4,000.

What is the current price range for Rental Homes in Frayser?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Frayser ranges from $525 to $4,000 with an average monthly rent of $1,100.

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! 

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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.