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

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

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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property at 180 Clark Pl

180 Clark Pl

MemphisTN38104

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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Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

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230 Cochran St
2 Bedroom Apartments

230 Cochran St

230 Cochran StMemphis, TN 38105
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Peach Apartments
1 Bedroom Apartments

Peach Apartments

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

35 N Idlewild St

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

Idlewild Terrace

32 Idlewild StMemphis, TN 38104
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Idlewild Terrace
1 to 2 Bedroom Apartments

Idlewild Terrace

34 N Idlewild StMemphis, TN 38104

Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

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Cherokee Arms
Studio Apartments

Cherokee Arms

1508 Madison AveMemphis, TN 38104
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Almadura Apartments
Studio to 2 Bedroom Apartments

Almadura Apartments

175 Stonewall StMemphis, TN 38104
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Caprice
2 Bedroom Apartments

Caprice

1259 Harbert AveMemphis, TN 38104
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The Alma
Studio Apartments

The Alma

190 N Auburndale StMemphis, TN 38112
Showing Results 1-50, Page 1 of 2

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 $695. Pulse has the second lowest priced unit, which is a Studio apartment currently listed from $708. Here are the most affordable Midtown apartments for rent in Memphis, TN:

Apartment ListingModel NameBed/BathPriced From
Village Square2054 #3 (Coming Soon)1BR,1BA$695
PulseS2Studio,1BA$708
Overton PlaceStudioStudio,1BA$725
Belvedere Gardens Condominiums1x1 Bath1BR,1BA$775
Idlewild Terrace1BR/1.0BA1BR,1BA$795
The Courtyard at Monroe1 Bed 1 Bath1BR,1BA$799
The Courtyard @ Monroe Flats1 Bed 1 Bath1BR,1BA$799
Azur Tower1 Bedroom 1 Bathroom1BR,1BA$800
Kimbrough TowersA21BR,1BA$800
Parkside Poplar Apartments1 Bedroom1BR,1BA$850

Best Value Apartments for Rent in Midtown, TN

As of June 12, 2025 the best value apartment in the Midtown area is the $0.89 price per square foot Spacious Model at 1468 Snowden Ave in the in the Midtown 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.
1468 Snowden AveSpacious2BR,1.5BA$0.89
Stonewall Apartments2 Bed 1.5 Bath2BR,1.5BA$0.81
Urban Peddler2BR 1BA Renovated2BR,1BA$1.23
Overton Garden Apartments2151 Poplar Ave 1-A (Coming Soon)2BR,2BA$1.23
Parkside Poplar Apartments1 Bedroom1BR,1BA$1.05
Peabody PlaceOne Bedroom1BR,1BA$1.12
Idlewild Terrace1BR/1.0BA1BR,1BA$1.11
The Courtyard at Monroe1 Bed 1 Bath1BR,1BA$1.26
The Courtyard @ Monroe Flats1 Bed 1 Bath1BR,1BA$1.26
Village Square2054 #3 (Coming Soon)1BR,1BA$1.21

Quick Rent Budget Calculator

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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 #19

Among neighborhoods in Memphis, TN 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 Overton Place 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 $695 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 $1,550.

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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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

Written by: Cheryl Bowman

A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.

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The Art of the Rental Viewing: What to look for during a property tour

Written by: Marie Brown

You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.

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Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.

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The Freedom of Short-Term Leases: Exploring the Advantages for Renters

Written by: Bobbi Jackson

If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.