Cheap Apartments for Rent in the New Chicago Neighborhood of Memphis, TN from $300 (16 Rentals)

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

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Looney Apartments
2 Bedroom Apartments

Looney Apartments

693 Looney AveMemphis, TN 38107
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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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750 Chelsea Ave
1 Bedroom Apartments

750 Chelsea Ave

750 Chelsea AveMemphis, TN 38107
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965 Eldridge Ave
1 Bedroom Apartments

965 Eldridge Ave

965 Eldridge AveMemphis, TN 38107
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1022 N 7th St
2 Bedroom Apartments

1022 N 7th St

1022 N 7th StMemphis, TN 38107

Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

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Lions Estate
1 Bedroom Apartments

Lions Estate

1281 Lion StMemphis, TN 38107
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The Kendall
2 Bedroom Apartments

The Kendall

1018 N 7th StMemphis, TN 38107
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April Woods
2 to 3 Bedroom Apartments

April Woods

262 Chelsea AveMemphis, TN 38107
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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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675 Looney Rd
2 Bedroom Apartments

675 Looney Rd

675 Looney RdMemphis, TN 38107
Showing Results 1-16, Page 1 of 1

Cheapest Available New Chicago Apartments for Rent

 

The cheapest available apartment rental in the New Chicago 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 New Chicago 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

Best Value Apartments for Rent in New Chicago, TN

As of January 28, 2026 the best value apartment in the New Chicago area is the $0.84 price per square foot 2BR/2BA Model at Bickford Square Apartments in the in the Downtown Memphis neighborhood starting from $895. The second greatest value New Chicago apartment is the 2BR/1.0BA Model at The Kendall starting at $815 with a $1.22 price per square foot in the Downtown Memphis neighborhood. Here is today’s list of the best values for New Chicago apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Bickford Square Apartments2BR/2BA2BR,2BA$0.84
The Kendall2BR/1.0BA2BR,1BA$1.22
Greenlaw Apartments2 bedroom x 1 bath2BR,1BA$1.15
699 N 5th St, Unit 2699 N 5th St1BR,1BA$2.31

Frequently Asked Questions about Cheap New Chicago Apartments

What types of apartments are the cheapest in New Chicago?

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 3 regular apartments in New Chicago that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

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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18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

Written by: Lauren Harrington

Renting your next home can feel thrilling and overwhelming at the same time.

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A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment

Written by: Bob Mallory

Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.

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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.