Cheap Apartments for Rent in the Midtown Neighborhood of Memphis, TN from $515 (111 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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property at 1277 Carr Ave
$775
1 Bedroom Rentals
Available Now
Cost Per Sq.Ft.

1277 Carr Ave

MemphisTN38104
  • Smoke Free
property at 250 N Willett St
$650 - $785
1 Bedroom Rentals
Available Now
Affordability

250 N Willett St

MemphisTN38112

Rent According to Income: A Look at Income-Restricted Rentals

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property at 129 Stonewall St
$895
2 Bedroom Rentals
Available Now
Furnished

129 Stonewall St

MemphisTN38104
  • Smoke Free

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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property at 123 Stonewall St
$945 - $975
1 Bedroom Rentals
Available Now
Affordability

123 Stonewall St

MemphisTN38104

Affordable Memphis: The Best Neighborhoods with Character and Lower Rents

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property at 412 N Montgomery St
$900 - $975
Studio To 1 Bedroom Rentals
Available Now
Affordability

412 N Montgomery St

MemphisTN38104

Renters Insurance 101: What It Is, What It Covers, and Why You Need It

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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 Studio unit found at 1298 Carr priced from $550. 1111 N Parkway has the second lowest priced unit, which is a 1 Bed apartment currently listed from $595. Here are the most affordable Midtown apartments for rent in Memphis, TN:

Apartment ListingModel NameBed/BathPriced From
1298 Carr0BR/1.0BAStudio,1BA$550
1111 N Parkway1 Beds, 1 Baths1BR,1BA$595
The Pulse ApartmentsStudio 1 BathroomStudio,1BA$634
148 Stonewall Pl1 BR, 1 BA1BR,1BA$650
1302 Court Ave0BR/1.0BAStudio,1BA$675
1626 Monroe Ave.1BR/1.0BA1BR,1BA$725
1640 Monroe1BR/1.0BA1BR,1BA$725
Kimbrough Tower ApartmentsStudio 1 BathroomStudio,1BA$750
Merriwether1 Bedroom, 1 Bathroom1BR,1BA$750

Best Value Apartments for Rent in Midtown, TN

As of September 08, 2026 the best value apartment in the Midtown area is the $0.84 price per square foot 2BR/1.5BA Model at Cgient Properties LLC-3 in the in the Midtown Memphis neighborhood starting from $1,050. 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.
Cgient Properties LLC-32BR/1.5BA2BR,1.5BA$0.84
Stonewall Apartments2 Bed 1.5 Bath2BR,1.5BA$0.81
57 N Belvedere Blvd, Unit Unit 157 N Belvedere Blvd2BR,1BA$1.03
The Midtowner2 BR2BR,1BA$1.10
Goodbar Townhomes2BR/1.0BA2BR,1BA$1.04
Parkside Poplar Apartments1 Bedroom1BR,1BA$1.02
Peabody PlaceO5 0ne Bedroom1BR,1BA$1.12
1111 N Parkway1 Beds, 1 Baths1BR,1BA$0.74
148 Stonewall Pl1 BR, 1 BA1BR,1BA$1.00
1298 Carr0BR/1.0BAStudio ,1BA$1.10

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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Navigating the Rental Market: Tips for First-Time Renters

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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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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, TN

Ranked #13

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 a cheap apartment in Midtown?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Midtown is under $750.

What is the price of a cheap apartment in Midtown?

The cheapest apartment in Midtown is 1298 Carr which is listed at $595, while the average apartment in Midtown costs $1,299.

What types of apartments are the cheapest in Midtown?

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 51 regular apartments in Midtown 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?

Cheap apartments in Midtown have an average cost of $424 which is $875 cheaper than the average rent for all rentals in Midtown.

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

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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.

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