Cheap Homes for Rent in Germantown Neighborhood of Memphis, TN from $700 (19 Rentals)

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

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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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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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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Germantown, Memphis, TN Local Guide

Cheapest Available Germantown Apartments for Rent

 

The cheapest available apartment rental in the Germantown area of Memphis, TN is a 1 Bed unit found at Greenbrook at Shelby Farms priced from $745. Arbors of Century Center has the second lowest priced unit, which is a 1 Bed apartment currently listed from $799. Here are the most affordable Germantown apartments for rent in Memphis, TN:

Apartment ListingModel NameBed/BathPriced From
Greenbrook at Shelby FarmsSycamore1BR,1BA$745
Arbors of Century CenterAsh - 1x1 Upgrade1BR,1BA$799
The Willows at Shelby Farms1X1-Ash1BR,1BA$930
The View at Shelby FarmsA2 - Willow1BR,1BA$941
Legacy on Lynnfield - NEWLY UPGRADED1x11BR,1BA$1,009

Best Value Apartments for Rent in Germantown, TN

As of December 12, 2025 the best value apartment in the Germantown area is the $1.09 price per square foot 4 Bedroom Gar Model at Fairfax Manor Townhomes in the in the Germantown neighborhood starting from $1,800. The second greatest value Germantown apartment is the c1 Model at The Garden District Apartments starting at $1,824 with a $1.14 price per square foot in the Germantown neighborhood. Here is today’s list of the best values for Germantown apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Fairfax Manor Townhomes4 Bedroom Gar4BR,3BA$1.09
The Garden District Apartmentsc13BR,2.5BA$1.14
Farmington GatesEssex - 3x23BR,2BA$1.20
Poplar Place TownhomesDupree2BR,1.5BA$1.07
RoxburyEnglewood2BR,1.5BA$1.31
MAA Dexter LakeResorter1BR,1BA$1.45
The View at Shelby FarmsA3 - Willow1BR,1BA$1.25
Legacy on Lynnfield - NEWLY UPGRADED1x11BR,1BA$1.33
Greenbrook at Shelby FarmsMagnolia1BR,1BA$1.04
Arbors of Century CenterAsh - 1x1 Upgrade1BR,1BA$1.29

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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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
Germantown, Memphis, TN

Ranked #22

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

Pet Friendliness Lifestyle Score

3.5
Pet Friendly

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Frequently Asked Questions about Germantown

What type of rentals are currently available in Germantown?

There are currently 46 Apartments for Rent in Germantown, TN with pricing that ranges from $745 to $3,745. There are also 176 Single Family Homes for rent, Condos, and Townhome rentals currently available in Germantown ranging from $700 to $5,500.

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

Today's rental pricing for Homes for Rent, Condos and Townhomes in Germantown ranges from $700 to $5,500 with an average monthly rent of $2,388.

How much are larger Three and Four Bedroom Rentals in Germantown?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Germantown range from $1,299 to $2,967, while Three Bedroom Homes, Condos, and Townhomes for rent range from $875 to $2,995. Four Bedroom Single-Family rentals are also available starting from $1,595 and Four Bedroom Apartments start at $1,800.

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.

Articles, How-To's, and Tips

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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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Renting with Roommates: Realistic Expectations for Shared Lease

Written by: Christine Leonard, Esq.

Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.

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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!