Cheap Apartments for Rent in the Medical District Memphis, TN from $300 (58 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Medical District 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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321 Pauline St
1 to 2 Bedroom Apartments

321 Pauline St

321 Pauline StMemphis, TN 38104
  • Utilities Included
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230 Cochran St
2 Bedroom Apartments

230 Cochran St

230 Cochran StMemphis, TN 38105
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Peach Apartments
1 Bedroom Apartments

Peach Apartments

1330 Peach AveMemphis, TN 38104
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288 Leath St
1 Bedroom Apartments

288 Leath St

288 Leath StMemphis, TN 38105

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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SoMa 23
Studio to 2 Bedroom Apartments

SoMa 23

23 S Pauline StMemphis, TN 38104
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1111 N Parkway
1 Bedroom Apartments

1111 N Parkway

1111 N ParkwayMemphis, TN 38105
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Merriwether
1 Bedroom Apartments

Merriwether

1095 Merriwether AveMemphis, TN 38105
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The Vinton
2 Bedroom Apartments

The Vinton

1307 Vinton AveMemphis, TN 38104

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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Caprice
2 Bedroom Apartments

Caprice

1259 Harbert AveMemphis, TN 38104
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The Courts Midtown
Studio to 1 Bedroom Apartments

The Courts Midtown

1391 Court AveMemphis, TN 38104
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32 Claybrook
1 Bedroom Apartments

32 Claybrook

32 N Claybrook StMemphis, TN 38104
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Pontotoc Gardens
3 Bedroom Apartments

Pontotoc Gardens

537-539 Pontotoc AveMemphis, TN 38126
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Crescendo Apartments
1 to 2 Bedroom Apartments

Crescendo Apartments

1386 Court AveMemphis, TN 38104
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1058 Peabody Ave
1 to 3 Bedroom Apartments

1058 Peabody Ave

1058 PeabodyMemphis, TN 38104
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1170 Peabody Ave
2 Bedroom Apartments

1170 Peabody Ave

1170 Peabody AveMemphis, TN 38104

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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Medical District, Memphis, TN Local Guide

Cheapest Available Medical District Apartments for Rent

 

The cheapest available apartment rental in the Medical District area of Memphis, TN is a 1 Bed unit found at 288 Leath St priced from $625. 1111 N Parkway has the second lowest priced unit, which is a 1 Bed apartment currently listed from $675. Here are the most affordable Medical District apartments for rent in Memphis, TN:

Apartment ListingModel NameBed/BathPriced From
288 Leath St1 Beds, 1 Baths1BR,1BA$625
1111 N Parkway1 Beds, 1 Baths1BR,1BA$675
Helix at the District - Utilities Included1 Bedroom 1 Bathroom1BR,1BA$744
Merriwether1 Bedroom, 1 Bathroom1BR,1BA$750
Kimbrough Tower ApartmentsStudio 1 BathroomStudio,1BA$750
Uptown Square ApartmentsStudio - HandicappedStudio,1BA$760
Edison ParkOne Bedroom High-RiseStudio,1BA$765
Central GardensStudio One Bath1BR,1BA$775
The Pulse Apartments1 Bedroom 1 Bathroom1BR,1BA$779

Best Value Apartments for Rent in Medical District, TN

As of July 03, 2026 the best value apartment in the Medical District area is the $1.10 price per square foot 1 bd / 1 ba Model at 628 Madison Ave in the in the Downtown Memphis neighborhood starting from $1,100. The second greatest value Medical District apartment is the 2BR/1.0BA Model at The Broadmoor Apartments starting at $995 with a $1.05 price per square foot in the Medical District neighborhood. Here is today’s list of the best values for Medical District apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
628 Madison Ave1 bd / 1 ba1BR,1BA$1.10
The Broadmoor Apartments2BR/1.0BA2BR,1BA$1.05
Goodbar Townhomes2BR/1.0BA2BR,1BA$1.01
Linden Yards ApartmentsTwo Bedroom2BR,1BA$0.97
Overton Place2 Bedroom Gardens I2BR,1BA$0.92
Peabody Village2 Beds, 1 Baths2BR,1BA$1.08
1111 N Parkway1 Beds, 1 Baths1BR,1BA$0.84
Courtyard @ 1460 Monroe1 Bedroom, 1 Bathroom1BR,1BA$1.04
The Drew1 Bedroom 1 Bathroom1BR,1BA$1.14
Merriwether1 Bedroom, 1 Bathroom1BR,1BA$1.25

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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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
Medical District, Memphis, TN

Ranked #39

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

Our team compares millions of points of data to bring you our detailed rental search system called 'Lifestyle ratings', composed of rentals in cities and towns across the United States, including Memphis. LifeStyle Ratings are the best way to sort through finding a place to live - beyond price and floorplan. This takes in many factors including searching for the best amenities, and outdoor amenities like tennis courts, transit availability, pet-friendly communities, features that make it easier to raise kids, and how walkable or bikeable each community and area is. Find Lifestyle Search in the filter options (above). Happy Searching!

Frequently Asked Questions about Cheap Medical District Apartments

What is a cheap apartment in Medical District?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Medical District is under $779.

What is the price of a cheap apartment in Medical District?

The cheapest apartment in Medical District is 288 Leath St which is listed at $625, while the average apartment in Medical District costs $2,150.

What types of apartments are the cheapest in Medical District?

Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 77 regular apartments in Medical District that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

How do the prices of cheap apartments compare to the average apartment in Medical District?

Cheap apartments in Medical District have an average cost of $499 which is $1,651 cheaper than the average rent for all rentals in Medical District.

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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