Cheap Apartments for Rent in the Mud Island Neighborhood of Memphis, TN from $600 (17 Rentals)

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

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Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.

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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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April Woods
2 to 3 Bedroom Apartments

April Woods

262 Chelsea AveMemphis, TN 38107
  • Utilities Included
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The Kendall
2 Bedroom Apartments

The Kendall

1018 N 7th StMemphis, TN 38107
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Uptown Flats
1 to 3 Bedroom Apartments

Uptown Flats

627 N Main StMemphis, TN 38107
  • Utilities Included

Affordable Memphis: The Best Neighborhoods with Character and Lower Rents

Explore affordable Memphis neighborhoods like Victorian Village, Medical District, South Memphis, and Uptown. Find apartments where your rent goes further.

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Burkle and Main
2 to 4 Bedroom Apartments

Burkle and Main

812 N Main StMemphis, TN 38107
Showing Results 1-17, Page 1 of 1

Mud Island, Memphis, TN Local Guide

Cheapest Available Mud Island Apartments for Rent

 

The cheapest available apartment rental in the Mud Island area of Memphis, TN is a 2 Beds unit found at Greenlaw Apartments priced from $750. The Kendall has the second lowest priced unit, which is a 2 Beds apartment currently listed from $815. Here are the most affordable Mud Island apartments for rent in Memphis, TN:

Apartment ListingModel NameBed/BathPriced From
Greenlaw Apartments2 bedroom x 1 bath2BR,1BA$750
The Kendall2BR/1.0BA2BR,1BA$815
Bickford Square Apartments2BR/2BA2BR,2BA$895
Conwood Flats Apartment HomesS7 Studio1BR,1BA$975
Riverset ApartmentsA1S - Elm w/Sunroom1BR,1BA$1,100

Best Value Apartments for Rent in Mud Island, TN

As of December 15, 2025 the best value apartment in the Mud Island area is the $1.41 price per square foot Enclave Model at Grand Island Apartments in the in the Downtown Memphis neighborhood starting from $1,950. The second greatest value Mud Island apartment is the 2BR/2BA Model at Bickford Square Apartments starting at $895 with a $0.84 price per square foot in the Downtown Memphis neighborhood. Here is today’s list of the best values for Mud Island apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Grand Island ApartmentsEnclave3BR,2BA$1.41
Bickford Square Apartments2BR/2BA2BR,2BA$0.84
Island Park/Harbor Town SquareA1A (1x1 Island Park )1BR,1BA$1.43
The Estates at River PointeA21BR,1BA$1.57
The Kendall2BR/1.0BA2BR,1BA$1.22
Greenlaw Apartments2 bedroom x 1 bath2BR,1BA$1.15
Riverset ApartmentsA1 - Elm1BR,1BA$1.75
Belle Harbour ApartmentsA11BR,1BA$1.87
Conwood Flats Apartment HomesS9 Studio1BR,1BA$2.11
Harbor Side at Conwood Flats ApartmentsS11BR,1BA$2.16

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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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
Mud Island, Memphis, TN

Ranked #55

Among cities in Tennessee for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

2.5
Pet Friendly

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Getting Around the Mud Island Neighborhood in Memphis, TN

Walk Score®

48 / 100

Car-Dependent

Most errands require a car

Bike Score®

44 / 100

Somewhat Bikeable

Minimal bike infrastructure

Transit Score®

53 / 100

Good Transit

Many nearby public transportation options

What Are Walk Score®, Transit Score®, and Bike Score® Ratings?

  • Walk Score® measures the walkability of any address.
  • Transit Score® measures access to public transit.
  • Bike Score® measures the bikeability of any address.

Frequently Asked Questions about Cheap Mud Island Apartments

What is the price of a cheap apartment in Mud Island?

The cheapest apartment in Mud Island is Conwood Flats Apartment Homes which is listed at $975, while the average apartment in Mud Island costs $1,955.

What types of apartments are the cheapest in Mud Island?

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 135 regular apartments in Mud Island 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 Mud Island?

Cheap apartments in Mud Island have an average cost of $760 which is $1,195 cheaper than the average rent for all rentals in Mud Island.

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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Renting with Roommates: Realistic Expectations for Shared Lease

Written by: Christine Leonard, Esq.

Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.

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Apartment Common Area Rules: What Renters Need to Know

Written by: Christine Leonard, Esq.

Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.

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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate!