Cheap Apartments for Rent in the Midtown Memphis Neighborhood of Memphis, TN from $300 (131 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Midtown Memphis 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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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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The Art of the Rental Viewing: What to look for during a property tour

Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

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Midtown Memphis, Memphis, TN Local Guide

Cheapest Available Midtown Memphis Apartments for Rent

 

The cheapest available apartment rental in the Midtown Memphis area of Memphis, TN is a Studio unit found at The Gilmore Apartments priced from $699. Overton Place has the second lowest priced unit, which is a Studio apartment currently listed from $725. Here are the most affordable Midtown Memphis apartments for rent in Memphis, TN:

Apartment ListingModel NameBed/BathPriced From
The Gilmore ApartmentsStudio Available 276sfStudio,1BA$699
Overton PlaceStudioStudio,1BA$725
Village Square2028 #21BR,1BA$750
The Pulse Apartments1 Bedroom 1 Bathroom1BR,1BA$779
Monroe Flats1 Bedroom, 1 Bathroom1BR,1BA$799
The Drew1 Bedroom 1 Bathroom1BR,1BA$800
Kimbrough Tower ApartmentsStudio 1 BathroomStudio,1BA$800
Kings Reserve MemphisBeale Grande1BR,1BA$825
Evergreen TerraceThe Overton - East1BR,1BA$825
Midtown PlaceTuscany 1B1B1BR,1BA$839

Best Value Apartments for Rent in Midtown Memphis, TN

As of April 24, 2026 the best value apartment in the Midtown Memphis area is the $1.00 price per square foot 2 Bed 2 Bath Model at 65 N Belvedere Blvd in the in the Midtown Memphis neighborhood starting from $1,350. The second greatest value Midtown Memphis apartment is the 164 N McLean Blvd Model at 164 N McLean Blvd starting at $1,050 with a $0.95 price per square foot in the East Memphis neighborhood. Here is today’s list of the best values for Midtown Memphis apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
65 N Belvedere Blvd2 Bed 2 Bath2BR,2BA$1.00
164 N McLean Blvd164 N McLean Blvd2BR,2BA$0.95
1751 Poplar Ave1751 Poplar Ave2BR,1BA$0.91
The Broadmoor Apartments2BR/1.0BA2BR,1BA$0.90
Stonewall Apartments2 Bed 1.5 Bath2BR,1.5BA$0.81
1855 Poplar Ave, Unit 41855 Poplar Ave2BR,1BA$1.00
31 S McLean BlvdOne Bedroom1BR,1BA$1.05
The MidtownerMidTowner2BR,1BA$1.05
The Biltmore - McAlpin ApartmentsSingle 8501BR,1BA$1.09
Monroe Flats1 Bedroom, 1 Bathroom1BR,1BA$1.04

10 Hidden Costs of Renting You Should Budget for Before Signing a Lease

Avoid financial stress when renting. Learn about the 10 most common hidden costs—from pet fees to utilities—you must budget for before you sign a lease.

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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

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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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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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
Midtown Memphis, Memphis, TN

Ranked #10

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

Pet Friendliness Lifestyle Score

4.0
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 across the United States including Midtown Memphis, Memphis, and the greater Memphis area. Lifestyle Ratings show you the best fit for your needs and interests. This takes in many factors including our Star Ratings to compare for convenient access to the outdoors, luxury amenities, pet-friendly features, family-friendliness, proximity to transit, walking, and biking. These search options are in the site filters at the top of this page.

Frequently Asked Questions about Cheap Midtown Memphis Apartments

What is a cheap apartment in Midtown Memphis?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Midtown Memphis is under $839.

What is the price of a cheap apartment in Midtown Memphis?

The cheapest apartment in Midtown Memphis is Village Square which is listed at $750, while the average apartment in Midtown Memphis costs $2,295.

What types of apartments are the cheapest in Midtown Memphis?

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 132 regular apartments in Midtown Memphis 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 Midtown Memphis?

Cheap apartments in Midtown Memphis have an average cost of $810 which is $1,485 cheaper than the average rent for all rentals in Midtown Memphis.

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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Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts

Written by: Lauren Harrington

This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

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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.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.