Cheap Apartments for Rent in the Midtown Neighborhood of Memphis, TN from $500 (67 Rentals)

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

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230 Cochran St
2 Bedroom Apartments

230 Cochran St

230 Cochran StMemphis, TN 38105
  • Utilities Included
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Peach Apartments
1 Bedroom Apartments

Peach Apartments

1330 Peach AveMemphis, TN 38104
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35 N Idlewild St
Studio to 2 Bedroom Apartments

35 N Idlewild St

35 N Idlewild StMemphis, TN 38104
Corporate Housing
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Idlewild Terrace
1 Bedroom Apartments

Idlewild Terrace

32 Idlewild StMemphis, TN 38104
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144 N. Belvedere
2 Bedroom Apartments

144 N. Belvedere

144 N Belvedere BlvdMemphis, TN 38104

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, TN Local Guide

Cheapest Available Midtown Apartments for Rent

 

The cheapest available apartment rental in the Midtown area of Memphis, TN is a 1 Bed unit found at Village Square priced from $625. Overton Place has the second lowest priced unit, which is a Studio apartment currently listed from $725. Here are the most affordable Midtown apartments for rent in Memphis, TN:

Apartment ListingModel NameBed/BathPriced From
Village Square2068 #31BR,1BA$625
Overton PlaceStudioStudio,1BA$725
31 S McLean BlvdStudioStudio,1BA$725
Pulse1 Bedroom 1 Bathroom1BR,1BA$779
Cherokee ArmsStandard StudioStudio,1BA$789
Courtyard @ 1460 Monroe1 Bedroom, 1 Bathroom1BR,1BA$799
The Drew1 Bedroom 1 Bathroom1BR,1BA$800
Kings Reserve MemphisBeale Corner Grande1BR,1BA$800
Kimbrough TowersStudio 1 BathroomStudio,1BA$800
Azur Tower1 Bedroom 1 Bathroom1BR,1BA$829

Best Value Apartments for Rent in Midtown, TN

As of December 06, 2025 the best value apartment in the Midtown area is the $0.65 price per square foot 4 Bedroom Model at Barksdale Flats in the in the East Memphis neighborhood starting from $1,500. The second greatest value Midtown apartment is the 2 Bed 1.5 Bath Model at Stonewall Apartments starting at $895 with a $0.81 price per square foot in the Midtown Memphis neighborhood. Here is today’s list of the best values for Midtown apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Barksdale Flats4 Bedroom4BR,2BA$0.65
Stonewall Apartments2 Bed 1.5 Bath2BR,1.5BA$0.81
Urban Peddler2BR 1BA2BR,1BA$1.13
The Broadmoor Apartments2BR/1.0BA2BR,1BA$1.05
Goodbar Townhomes2BR/1.0BA2BR,1BA$1.09
Parkside Poplar Apartments1 Bedroom1BR,1BA$1.05
Peabody PlaceOne Bedroom1BR,1BA$1.13
Courtyard @ Monroe Flats1 Bedroom, 1 Bathroom1BR,1BA$1.16
Courtyard @ 1460 Monroe1 Bedroom, 1 Bathroom1BR,1BA$1.04
The Drew1 Bedroom 1 Bathroom1BR,1BA$1.14

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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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, TN

Ranked #15

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

ApartmentHomeLiving.com compares millions of points of data to bring you our detailed rental search system called 'Lifestyle ratings', composed of rentals in areas across the United States and customized analysis for Central Memphis. Lifestyle Ratings show you the best fit for your needs and interests. This takes in many factors including rankings of the best places for easy access to the parks, luxury amenities, kid and pet-friendly communities, availability of transit options, and other valuable search options. Find Lifestyle Search in the filter options (above). Happy Searching!

Frequently Asked Questions about Cheap Midtown Apartments

What is the Cheapest Studio apartment in Midtown?

Currently the most affordable Cheap Studio Apartment in Midtown is at Kings Reserve Memphis listed at $725.

How much is rent for a Cheap One Bedroom Midtown Apartment?

The lowest price for a Cheap One Bedroom Midtown Apartment is $625 at Village Square.

What is the lowest price for a Cheap Two Bedroom Midtown Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Midtown is starting from $825 at Overton Place.

What is the most affordable Midtown Three Bedroom Apartment?

The best deal on a cheap Midtown Three Bedroom Apartment rental is at Kings Reserve Memphis and starts from $1,375.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

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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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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Renting with Roommates: Realistic Expectations for Shared Lease

Written by: Christine Leonard, Esq.

Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.

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Apartment Common Area Rules: What Renters Need to Know

Written by: Christine Leonard, Esq.

Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.

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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate!