Cheap Apartments for Rent in the Midtown Neighborhood of Memphis, TN from $500 (103 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 1540 Tutwiler Ave

$1,100

Total Monthly Price

Total Monthly Price

Base Rent
$1,100
Total Monthly Price
$1,100

2 Bedroom, 1 Bath Townhome for Rent

Available Now

1540 Tutwiler Ave

MemphisTN38107

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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 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 apartments for rent in Memphis, TN:

Apartment ListingModel NameBed/BathPriced From
The Gilmore ApartmentsStudio Available 276sfStudio,1BA$699
Overton PlaceStudioStudio,1BA$725
31 S McLean BlvdStudioStudio,1BA$725
Village Square2028 #21BR,1BA$750
The Pulse Apartments1 Bedroom 1 Bathroom1BR,1BA$779
Monroe Flats1 Bedroom, 1 Bathroom1BR,1BA$799
Kimbrough Tower ApartmentsStudio 1 BathroomStudio,1BA$800
The Drew1 Bedroom 1 Bathroom1BR,1BA$800
Parkside Poplar Apartments1 Bedroom1BR,1BA$825
Kings Reserve MemphisBeale Grande1BR,1BA$825

Best Value Apartments for Rent in Midtown, TN

As of April 25, 2026 the best value apartment in the Midtown 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 apartment is the 2BR/1.0BA Model at The Broadmoor Apartments starting at $995 with a $0.90 price per square foot in the Medical District 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.
65 N Belvedere Blvd2 Bed 2 Bath2BR,2BA$1.00
The Broadmoor Apartments2BR/1.0BA2BR,1BA$0.90
Stonewall Apartments2 Bed 1.5 Bath2BR,1.5BA$0.81
164 N McLean Blvd164 N McLean Blvd2BR,2BA$0.95
1751 Poplar Ave1751 Poplar Ave2BR,1BA$0.91
1855 Poplar Ave, Unit 41855 Poplar Ave2BR,1BA$1.00
31 S McLean BlvdOne Bedroom1BR,1BA$1.05
Goodbar Townhomes2BR/1.0BA2BR,1BA$1.04
Parkside Poplar Apartments1 Bedroom1BR,1BA$1.02
Monroe Flats1 Bedroom, 1 Bathroom1BR,1BA$1.04

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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, TN

Ranked #12

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 $825.

What is the price of a cheap apartment in Midtown?

The cheapest apartment in Midtown is Village Square which is listed at $750, while the average apartment in Midtown costs $2,300.

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 97 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 $542 which is $1,758 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.

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.