Cheap Apartments for Rent in the Midtown Neighborhood of Memphis, TN from $500 (72 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
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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144 N. Belvedere
2 Bedroom Apartments

144 N. Belvedere

144 N Belvedere BlvdMemphis, TN 38104

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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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Pulse
1 to 2 Bedroom Apartments

Pulse

57 N Somerville StMemphis, TN 38104
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 Studio unit found at Overton Place priced from $725. Village Square has the second lowest priced unit, which is a 1 Bed apartment currently listed from $725. Here are the most affordable Midtown apartments for rent in Memphis, TN:

Apartment ListingModel NameBed/BathPriced From
Overton PlaceStudioStudio,1BA$725
Village Square2054 #31BR,1BA$725
144 N. Belvedere2 BR, 1 BA2BR,1BA$775
Belvedere Gardens Condominiums1x1 Bath1BR,1BA$775
PulseA11BR,1BA$779
The Drew1 Bedroom 1 Bathroom1BR,1BA$800
Kimbrough TowersA21BR,1BA$800
Parkside Poplar Apartments1 Bedroom1BR,1BA$850
The Courts MidtownThe Idlewild1BR,1BA$861
Stonewall Apartments2 Bed 1.5 Bath2BR,1BA$895

Best Value Apartments for Rent in Midtown, TN

As of July 31, 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
Overton Garden Apartments2151 Poplar Ave 1-A2BR,2BA$1.23
Urban Peddler2BR 1BA Renovated2BR,1BA$1.23
1058 Peabody Ave1058 Peabody Ave - 121BR,1BA$1.04
Parkside Poplar Apartments1 Bedroom1BR,1BA$1.05
Peabody PlaceOne Bedroom1BR,1BA$1.13
The Biltmore - McAlpin ApartmentsStudio1BR,1BA$1.20
144 N. Belvedere2 BR, 1 BA2BR,1BA$1.03
The Drew1 Bedroom 1 Bathroom1BR,1BA$1.14

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 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 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 $725 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 $775 at 144 N. Belvedere.

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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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Written by: Christine Leonard, Esq.

Hard truth. Moving is never easy. I’ve done it all – from local moves to cross-country relocations From packing to unpacking the last box, I have found moving to be an exhausting, expensive and stressful experience every time.

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Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Written by: Christine Leonard, Esq.

Throughout the day, think about all the times that you have to pay for something. So many of us reach automatically for a credit card or even our phone for a quick payment.

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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.