Cheap Apartments for Rent in the Mid-Second Neighborhood of Memphis, TN from $500 (56 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Mid-Second area of Memphis.

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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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Pontotoc Gardens
3 Bedroom Apartments

Pontotoc Gardens

537-539 Pontotoc AveMemphis, TN 38126
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Exchange Building
Studio to 2 Bedroom Apartments

Exchange Building

9 N 2nd StMemphis, TN 38103
Furnished
  • Utilities Included
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W.L.
Studio to 2 Bedroom Apartments

W.L.

267 S Main StMemphis, TN 38103
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Forum Flats
1 to 3 Bedroom Apartments

Forum Flats

441 E Pontotoc AveMemphis, TN 38126
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Jefferson Place
1 to 2 Bedroom Apartments

Jefferson Place

560 S Jefferson PlMemphis, TN 38105
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Hope Heights Tower
Studio to 2 Bedroom Apartments

Hope Heights Tower

383 Madison AveMemphis, TN 38103
Senior Living
  • Utilities Included

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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The Washburn
1 to 2 Bedroom Apartments

The Washburn

60 S Main StMemphis, TN 38103
Corporate Housing
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Annex Lofts
1 to 2 Bedroom Apartments

Annex Lofts

345 S Front StMemphis, TN 38103
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Main Street Flats
Studio to 2 Bedroom Apartments

Main Street Flats

101 S Main StMemphis, TN 38103
  • Utilities Included
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Cornerstone Flats
1 to 2 Bedroom Apartments

Cornerstone Flats

113 S Main StMemphis, TN 38103
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Van Vleet Flats
1 to 2 Bedroom Apartments

Van Vleet Flats

122 Gayoso AveMemphis, TN 38103
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2nd Street Flats
1 to 3 Bedroom Apartments

2nd Street Flats

362 S 2nd StMemphis, TN 38103
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Patterson Flats
1 to 3 Bedroom Apartments

Patterson Flats

259 E Butler AveMemphis, TN 38126
  • Utilities Included

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Showing Results 1-50, Page 1 of 2

Mid-Second, Memphis, TN Local Guide

Cheapest Available Mid-Second Apartments for Rent

 

The cheapest available apartment rental in the Mid-Second area of Memphis, TN is a 2 Beds unit found at Greenlaw Apartments priced from $750. Owens Place Townhomes has the second lowest priced unit, which is a 1 Bed apartment currently listed from $760. Here are the most affordable Mid-Second apartments for rent in Memphis, TN:

Apartment ListingModel NameBed/BathPriced From
Greenlaw Apartments2 bedroom x 1 bath2BR,1BA$750
Owens Place Townhomes1 Bed Flat1BR,1BA$760
Uptown Square ApartmentsStudio - HandicappedStudio,1BA$760
Edison ParkOne Bedroom High-RiseStudio,1BA$765
Indigo RiverviewPowellStudio,1BA$856
Helix at the District - Utilities Included1 Bedroom 1 Bathroom1BR,1BA$860
Linden Yards ApartmentsTwo Bedroom2BR,1BA$880
The ChiscaA1r1BR,1BA$927
Lofts at Union AlleyE2Studio,1BA$948
280 Vance Flats1 Bedroom 1 Bath Unit 1A (ADA)1BR,1BA$950

Best Value Apartments for Rent in Mid-Second, TN

As of April 16, 2026 the best value apartment in the Mid-Second area is the $1.07 price per square foot 505 S Main St Model at 505 S Main St, Unit 509 South Main #102 in the in the Downtown Memphis neighborhood starting from $1,750. The second greatest value Mid-Second apartment is the Floor Plan A Model at Lofts at Merchant Row starting at $1,695 with a $1.36 price per square foot in the Downtown Memphis neighborhood. Here is today’s list of the best values for Mid-Second apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
505 S Main St, Unit 509 South Main #102505 S Main St2BR,2BA$1.07
Lofts at Merchant RowFloor Plan A1BR,1.5BA$1.36
Patterson Flats2-B Type B2BR,2BA$1.05
628 Madison Ave2 bd / 2 ba2BR,2BA$1.35
Linden Yards ApartmentsTwo Bedroom2BR,1BA$0.97
The WashburnWAS-A41BR,1BA$1.22
2nd Street Flats22A602BR,2BA$1.39
Owens Place Townhomes1 Bed Flat1BR,1BA$1.10
Forum Flats1-C Type B-60%1BR,1BA$1.41
Greenlaw Apartments2 bedroom x 1 bath2BR,1BA$1.15

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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

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Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

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Pet Friendly Lifestyle
Mid-Second, Memphis, TN

Ranked #24

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

Pet Friendliness Lifestyle Score

3.5
Pet Friendly

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Lifestyle Ratings

ApartmentHomeLiving brings you our detailed rental analysis called 'Lifestyle Ratings' - a comparison of rentals and neighborhoods across the USA, including Memphis. LifeStyle Ratings are a useful tool for comparing and sorting apartments and neighborhoods when choosing your rental home. This takes in many factors including rankings of the best places for proximity to parks, luxury amenities, places that make kids happy, raising pets, transit options, in addition to floorplans, availablity, and pricing. Use Lifestyle Search in the site filter options on this page - and find your Perfect place!

Frequently Asked Questions about Cheap Mid-Second Apartments

What is a cheap apartment in Mid-Second?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Mid-Second is under $950.

What is the price of a cheap apartment in Mid-Second?

The cheapest apartment in Mid-Second is Owens Place Townhomes which is listed at $760, while the average apartment in Mid-Second costs $2,605.

What types of apartments are the cheapest in Mid-Second?

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 62 regular apartments in Mid-Second 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 Mid-Second?

Cheap apartments in Mid-Second have an average cost of $381 which is $2,224 cheaper than the average rent for all rentals in Mid-Second.

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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What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Written by: Lauren Harrington

This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.

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Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

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18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

Written by: Lauren Harrington

Renting your next home can feel thrilling and overwhelming at the same time.