1455 Eloise Rd
MemphisTN38106
Cheap Homes for Rent in Memphis, TN from $500 (539 Rentals)
Search the lowest-cost Homes available for rent right now in Memphis.
2077 Lowell Ave
MemphisTN38114
1312 Richmond Ave
MemphisTN38106
1677 Echles St
MemphisTN38111
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$5901 Bedroom Apartments Available Now
2183 Kansas St
2183 Kansas StMemphis, TN 38109
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$6002 Bedroom Apartments Available Now
500 Simpson Ave, Unit 6
500 Simpson AveMemphis, TN 38106
2705-2715 Cherry Rd
MemphisTN38118
643 McWhirter Ave
MemphisTN38127
3916 Wales Ave
MemphisTN38108
2483 Vandale Ave
MemphisTN38108
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.
684 Lipford St
MemphisTN38112
1111 North Pkwy
MemphisTN38105
3042 McAdoo Ave
MemphisTN38112
2001 Farrington St
MemphisTN38109
3465 Douglass Ave
MemphisTN38111
3089 Waynoka Ave
MemphisTN38111
732 S Greer St
MemphisTN38111
1133 Gerard St
MemphisTN38107
1463 Boxwood St
MemphisTN38108
1286 Trail Run Ln
CordovaTN38016
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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$6952 Bedroom Apartments Available Now
888 Kerr Ave, Unit 27
888 Kerr AveMemphis, TN 38106
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$6951 Bedroom Apartments Available Now
1433 Court Ave
1433 Court AveMemphis, TN 38104
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$6992 Bedroom Apartments Available Now
607 E McLemore Ave, Unit 2
607 E McLemore AveMemphis, TN 38106
1663 Dena Dr
MemphisTN38127
1160 Wilson St
MemphisTN38106
2859 Nathan Ave
MemphisTN38112
457 King Rd
MemphisTN38109
3578 Vernon Ave
MemphisTN38122
6103 Yorkhill Dr, Unit B
6103 Yorkhill Dr
BartlettTN38135
2718 Windsor Pkwy
MemphisTN38127
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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$7251 Bedroom Apartments Available Now
302 Mill Ave, Unit 102
302 Mill AveMemphis, TN 38105
2917 Yale Ave
MemphisTN38112
1279 Carr Ave
MemphisTN38104
3885 Spottswood Ave
MemphisTN38111
692 Tiger Estates Dr
MemphisTN38111
1918 Lapaloma St
MemphisTN38114
3414 Pine Ridge Ln
MemphisTN38118
853 Annie St
MemphisTN38107
701 Glankler St
MemphisTN38112
1351 Austin St
MemphisTN38108
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.
306 E Waldorf Ave
MemphisTN38106
820 Maury St
MemphisTN38107
3105 Yale Ave
MemphisTN38112
1633 Dena Dr
MemphisTN38127
1631 Dena Dr
MemphisTN38127
1628 Via Roma Dr
MemphisTN38127
464 Lipford St
MemphisTN38112
2861 Nathan Ave
MemphisTN38112
778 Alma St
MemphisTN38107
1500 Echles St
MemphisTN38111
How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide
Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.
Memphis, TN Local Guide
How much does it cost to rent a home in Memphis?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Memphis 2 Bedroom Homes for Rent | $1,244 | $575 | $3,840 |
| Memphis 3 Bedroom Homes for Rent | $1,643 | $750 | $3,400 |
| Memphis 4 Bedroom Homes for Rent | $2,069 | $895 | $6,000 |
| Memphis 5 Bedroom Homes for Rent | $3,104 | $1,095 | $7,500 |
| Memphis 6 Bedroom Homes for Rent | $3,197 | $2,100 | $4,495 |
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
Browse Top Homes for Rent in Memphis
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Memphis, TN Local Guide
- Memphis Neighborhoods
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Cheapest Neighborhoods for Apartments in Memphis, TN
Pricing Updated: 06/11/2026Current apartment rentals in the Memphis, TN area range in price from $550 to $6,999 with an overall median price of $2,735. The three Memphis neighborhoods with the lowest median rent pricing are Belz Park at $770, New Getwell at $750, and Mill Branch at $1,125. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Memphis Apartments for rent:
| Neighborhood | Median Price | Min Price | Available Units |
|---|---|---|---|
| Belz Park | $1,135 | $770 | 20 |
| New Getwell | $1,250 | $750 | 8 |
| Mill Branch | $1,300 | $1,125 | 8 |
| Firestone Park | $1,310 | $850 | 16 |
| Douglass | $1,360 | $650 | 5 |
| Gardenview Park | $1,375 | $1,100 | 3 |
| Hollywood | $1,400 | $750 | 6 |
| McKeller | $1,400 | $935 | 26 |
| Walter Chandler | $1,400 | $700 | 39 |
| Westwood | $1,400 | $700 | 47 |
Cheapest Available Memphis Apartments for Rent
The cheapest available apartment rental in Memphis, TN is a Studio unit found at Emberly Apartments in the South Memphis neighborhood priced from $547. 165 N Merton St in the East Memphis neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $550. Here is today’s list of the most affordable Memphis apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Emberly Apartments | EFF | Studio,1BA | $547 |
| 165 N Merton St | 1BR/1.0BA | 1BR,1BA | $550 |
| Longview Gardens | 2 Bedroom | 2BR,1BA | $552 |
| El Dorado | 1 Bedroom | 1BR,1BA | $561 |
| The Residences at Lakeview | Studio | Studio,1BA | $581 |
| Creekside Meadows | 1 Bedroom 1 Bathroom | 1BR,1BA | $592 |
| Monarch on Highland | MHLA1 | 1BR,1BA | $600 |
| Longview Heights | 2 Bed / 1 Bath | 2BR,1BA | $618 |
| Pinetree Place Apartments | 2 Bedroom Basic Remodel | 2BR,1BA | $625 |
Best Value Apartments for Rent in Memphis, TN
As of June 11, 2026 the best value apartment in the Memphis area is the $0.53 price per square foot 4 Beds, 2 Baths Model at 378 N Highland St in the in the East Memphis neighborhood starting from $1,600. The second greatest value Memphis apartment is the Entire home 4 Bedrooms 4 Baths Model at Student Lofts at Brister starting at $695 with a $0.38 price per square foot in the East Memphis neighborhood. Here is today’s list of the best values for Memphis apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| 378 N Highland St | 4 Beds, 2 Baths | 4BR,2BA | $0.53 |
| Student Lofts at Brister | Entire home 4 Bedrooms 4 Baths | 1BR,1BA | $0.38 |
| Emerald Pointe | 2 bedroom 1.5 bathroom | 2BR,1.5BA | $0.57 |
| 9 S Tucker St, Unit 9 S Tucker | 9 S Tucker St | 2BR,1BA | $0.60 |
| Fairway | Two Bedroom Townhome w/Stairs | 2BR,1.5BA | $0.60 |
| Shadowbrook Townhomes | 2 Bedroom w/ Den | 2BR,1.5BA | $0.69 |
| Barton Court Apartments | 2 Bed | 2BR,1BA | $0.76 |
| High Point Apartments | 2 Bedroom 1 Bathroom | 2BR,1BA | $0.77 |
| Longview Gardens | 2 Bedroom | 2BR,1BA | $0.70 |
| Longview Heights | 2 Bed / 1 Bath | 2BR,1BA | $0.78 |
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.
Read ArticleReal 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.
Read ArticleQuick 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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Remember the 3 Rules of Real Estate:Location, Location, Location!
Explore Memphis, TN Rentals by Map
See the most popular apartments and homes in Memphis, TN
Frequently Asked Questions about Memphis
What type of rentals are currently available in Memphis?
There are currently 1882 Apartments for Rent in Memphis, TN with pricing that ranges from $450 to $7,985. There are also 1857 Single Family Homes for rent, Condos, and Townhome rentals currently available in Memphis ranging from $550 to $7,500.
What is the current price range for Rental Homes in Memphis?
Today's rental pricing for Homes for Rent, Condos and Townhomes in Memphis ranges from $550 to $7,500 with an average monthly rent of $2,031.
How much are larger Three and Four Bedroom Rentals in Memphis?
For those who are looking for larger living arrangements, Three Bedroom Apartments in Memphis range from $650 to $4,029, while Three Bedroom Homes, Condos, and Townhomes for rent range from $750 to $3,400. Four Bedroom Single-Family rentals are also available starting from $895 and Four Bedroom Apartments start at $599.
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
Affordable Memphis: The Best Lower Priced Neighborhoods with Character
Written by: Joshua Carlucci
I’m Josh, your ApartmentHomeLiving.com Local Expert for Memphis.
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.
The Local Memphis Experts Guide to Renting Near the Citys Top Employers
Written by: Joshua Carlucci
I'm Josh, your ApartmentHomeLiving.
Memphis, Tennessee: A Local Experts 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.
Articles, How-To's, and Tips
How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide
Written by: Robin Stewart
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.
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.
Creative Ways Developers Reimagine Retail Spaces as Residential Units
Written by: Robin Stewart
Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.
Neighborhood and Market Insights: How to Choose the Right Area to Rent
Written by: Robin Stewart
Apartment-hunting can be a gargantuan task. Renters have a wish list of items—some luxuries, some necessities—but finding what you seek in the right place is perhaps the most important part of the journey.