1485 E Mallory Ave
MemphisTN38106
Cheap Homes for Rent in Memphis, TN from $550 (690 Rentals)
Search the lowest-cost Homes available for rent right now in Memphis.
2117 Hunter Ave
MemphisTN38108
2167 Kansas St
MemphisTN38109
646 Lipford St
MemphisTN38112
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$5951 Bedroom Apartments Available Now
129 Majuba Ave
129 Majuba AveMemphis, TN 38109
700 Tiger Estates Dr
MemphisTN38111
3882 Tiger Estates Dr
MemphisTN38111
2251 Stovall Ave
MemphisTN38108
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$600Studio Apartments Available Now
2715 Cherry Rd, Unit 2407
2715 Cherry RdMemphis, TN 38118
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$6121 Bedroom Apartments Available Now
2183 Kansas St
2183 Kansas StMemphis, TN 38109
Memphis, Tennessee: A Local Expert's Insider Guide to the Bluff City
Moving to the Bluff City? Get the insider’s guide on Memphis life, from specific neighborhood personalities and current average rent, to the best barbecue and live music spots.
845 University St
MemphisTN38107
2859 Nathan Ave
MemphisTN38112
2861 Nathan Ave
MemphisTN38112
3083 Guernsey Ave
MemphisTN38112
2483 Vandale Ave
MemphisTN38108
3414 Pine Ridge Ln
MemphisTN38118
3228 S Mendenhall Rd
MemphisTN38115
1599 S Highland St
MemphisTN38111
3042 McAdoo Ave
MemphisTN38112
1024 S Wellington St
MemphisTN38126
Rent According to Income: A Look at Income-Restricted Rentals
Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.
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$6752 Bedroom Apartments Available Now
1540 Standridge St
1540 Standridge StMemphis, TN 38108
3780 Norris Ave
MemphisTN38111
464 Glankler St
MemphisTN38112
820 Maury St
MemphisTN38107
844 Leon Pl
MemphisTN38107
839 LEON Pl
MemphisTN38107
525 N Waldran Blvd
MemphisTN38105
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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
The Local Memphis Expert's Guide to Renting Near the City's Top Employers
Memphis apartment guide from a local expert, breaking down neighborhoods, average rent, and ideal commute times near the 5 largest employers - FedEx, St. Jude, U of M, Methodist, and AutoZone.
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$7001 Bedroom Apartments Available Now
2715 Cherry Rd, Unit 1249
2715 Cherry RdMemphis, TN 38118
1034 S Prescott St
MemphisTN38111
2166 Pamela Dr
MemphisTN38127
6103 Yorkhill Dr
BartlettTN38135
2883 Coach Dr
MemphisTN38128
2917 Yale Ave
MemphisTN38112
574 McKinley St
MemphisTN38126
2271 Hunter Ave
MemphisTN38108
3563 Southern Ave, Unit 21
3563 Southern Ave
MemphisTN38111
6 E McKellar Ave
MemphisTN38109
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.
1 TN-1
MemphisTN38128
859 Josephine St
MemphisTN38114
2059 Rile St
MemphisTN38109
306 E Waldorf Ave
MemphisTN38106
464 Lipford St
MemphisTN38112
2461 Lowell Ave
MemphisTN38114
859 Carson St
MemphisTN38111
1493 Gaither St
MemphisTN38106
1111 N Holmes St
MemphisTN38122
291 Red Oak St
MemphisTN38112
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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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 | $1,118 | $550 | $2,800 |
| Memphis 3 Bedroom Homes for Rent | $1,606 | $725 | $3,900 |
| Memphis 4 Bedroom Homes for Rent | $2,031 | $795 | $4,650 |
| Memphis 5 Bedroom Homes for Rent | $2,763 | $1,000 | $5,995 |
| Memphis 6 Bedroom Homes for Rent | $3,472 | $2,945 | $4,000 |
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
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Memphis, TN Local Guide
- Memphis Neighborhoods
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Cheapest Neighborhoods for Homes in Memphis, TN
Pricing Updated: 09/20/2026Current rental homes in the Memphis, TN area range in price from $550 to $5,995 with an overall median price of $1,479. The three Memphis neighborhoods with the lowest median rent pricing are South City at $900, Hollywood at $1,000, and New Chicago at $1,055. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Memphis Homes for rent:
| Neighborhood | Median Price | Min Price | Available Units |
|---|---|---|---|
| South City | $900 | $675 | 5 |
| Hollywood | $1,000 | $600 | 20 |
| New Chicago | $1,055 | $695 | 21 |
| Belz Park | $1,095 | $590 | 27 |
| St Jude | $1,095 | $695 | 9 |
| Harbor Channel | $1,100 | $590 | 24 |
| Walter Chandler | $1,100 | $890 | 38 |
| Frayser | $1,112 | $550 | 77 |
| Firestone Park | $1,115 | $850 | 17 |
| Westwood | $1,145 | $890 | 41 |
Cheapest Available Memphis Homes for Rent
The cheapest available rental home in Memphis, TN is a 2 Beds home found at 1034 S Prescott St in the East Memphis neighborhood priced from $700. 2461 Lowell Ave in the East Memphis neighborhood has the second lowest priced home, which is a 2 Beds rental home currently listed from $750. Here is today’s list of the most affordable Memphis homes for rent:
| Home Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| 1034 S Prescott St | 1034 S Prescott St | 2BR, 1BA | $700 |
| 2461 Lowell Ave | 2461 Lowell Ave | 2BR, 1BA | $750 |
| 2426 Boyle Ave | 2426 Boyle Ave | 2BR, 1BA | $795 |
Best Value Homes for Rent in Memphis, TN
As of September 20, 2026 the best value rental home in the Memphis area is the $0.74 price per square foot 2175 Carrollwood Ln Model at 2175 Carrollwood Ln in the Cordova neighborhood starting from $2,500. The second greatest value Memphis rental home is the 2952 Clearwood Rd Model at 2952 Clearwood Rd in the Raleigh neighborhood starting at $1,600 with a $0.61 price per square foot. Here is today’s list of the best values for Memphis homes based on price per square foot:
| Home Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| 2175 Carrollwood Ln | 2175 Carrollwood Ln | 4BR, 2.5BA | $0.74 |
| 2952 Clearwood Rd | 2952 Clearwood Rd | 4BR, 2BA | $0.61 |
| 5191 Kingswood Cove | 5191 Kingswood Cove | 5BR, 2BA | $0.59 |
| 5607 Sweet Gum Dr | 5607 Sweet Gum Dr | 4BR, 2BA | $0.59 |
| 4769 S Milnor Dr | 4769 S Milnor Dr | 4BR, 2BA | $0.72 |
| 4087 Trudy St | 4087 Trudy St | 4BR, 3BA | $0.54 |
| 3642 Gillie St | 3642 Gillie St | 3BR, 1.5BA | $0.68 |
| 905 Parkhaven Ln | 905 Parkhaven Ln | 2BR, 1BA | $0.62 |
| 4040 Trevathan Cir | 4040 Trevathan Cir | 3BR, 1BA | $0.68 |
| 2628 Lowell Ave | 2628 Lowell Ave | 4BR, 2BA | $0.74 |
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 ArticleNavigating the Rental Market: Tips for First-Time Renters
Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.
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.
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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 1872 Apartments for Rent in Memphis, TN with pricing that ranges from $525 to $8,799. There are also 1493 Single Family Homes for rent, Condos, and Townhome rentals currently available in Memphis ranging from $550 to $5,995.
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 $5,995 with an average monthly rent of $1,632.
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 $639 to $4,109, while Three Bedroom Homes, Condos, and Townhomes for rent range from $725 to $3,900. Four Bedroom Single-Family rentals are also available starting from $795 and Four Bedroom Apartments start at $550.
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
Memphis, Tennessee: A Local Expert's 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.
The Local Memphis Expert's Guide to Renting Near the Citys Top Employers
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I'm Josh, your ApartmentHomeLiving.
College Life in Memphis: Affordable Neighborhoods Where Students Really Live and Thrive
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I’m Josh, your ApartmentHomeLiving.com Local Expert for Memphis.
Affordable Memphis: The Best Lower Priced Neighborhoods with Character
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Rent According to Income: A Look at Income-Restricted Rentals
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The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.
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Renters want to find a great apartment, the right place for them, one that checks all the boxes of location, rental cost, amenities, safety, and more.