Cheap Apartments for Rent in the Midtown Neighborhood of Memphis, TN from $500 (98 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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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 1111 N Parkway priced from $600. The Pulse Apartments has the second lowest priced unit, which is a Studio apartment currently listed from $634. Here are the most affordable Midtown apartments for rent in Memphis, TN:

Apartment ListingModel NameBed/BathPriced From
1111 N Parkway1 Beds, 1 Baths1BR,1BA$600
The Pulse ApartmentsStudio 1 BathroomStudio,1BA$634
31 S McLean BlvdStudioStudio,1BA$725
Merriwether1 Bedroom, 1 Bathroom1BR,1BA$750
Kimbrough Tower ApartmentsStudio 1 BathroomStudio,1BA$750
Village Square2046 #41BR,1BA$750
Courtyard @ 1460 Monroe1 Bedroom, 1 Bathroom1BR,1BA$799
Monroe Flats1 Bedroom, 1 Bathroom1BR,1BA$799
The Sylvia1-Bedroom Unit1BR,1BA$800
Overton Place1 Bedroom Gardens II1BR,1BA$800

Best Value Apartments for Rent in Midtown, TN

As of July 24, 2026 the best value apartment in the Midtown area is the $0.86 price per square foot 431 N Evergreen St Model at 431 N Evergreen St, Unit 431 N. Evergreen St. in the in the East Memphis neighborhood starting from $1,800. The second greatest value Midtown apartment is the 3 Bed 2 Bath Model at 65 N Belvedere Blvd starting at $1,350 with a $1.00 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.
431 N Evergreen St, Unit 431 N. Evergreen St.431 N Evergreen St3BR,2BA$0.86
65 N Belvedere Blvd3 Bed 2 Bath3BR,2BA$1.00
Stonewall Apartments2 Bed 1.5 Bath2BR,1.5BA$0.81
34 N Idlewild St2BR/1.0BA2BR,1BA$0.89
Goodbar Townhomes2BR/1.0BA2BR,1BA$0.98
The Biltmore - McAlpin ApartmentsSingle 8501BR,1BA$1.09
Parkside Poplar Apartments1 Bedroom1BR,1BA$1.02
1111 N Parkway1 Beds, 1 Baths1BR,1BA$0.75
Courtyard @ 1460 Monroe1 Bedroom, 1 Bathroom1BR,1BA$1.04
Monroe Flats1 Bedroom, 1 Bathroom1BR,1BA$1.04

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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Pet Friendly Lifestyle
Midtown, Memphis, TN

Ranked #14

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 $800.

What is the price of a cheap apartment in Midtown?

The cheapest apartment in Midtown is 1111 N Parkway which is listed at $600, while the average apartment in Midtown costs $2,235.

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 63 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 $712 which is $1,523 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.

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