
Cheap Apartments for Rent in the New Chicago Neighborhood of Memphis, TN from $300 (15 Rentals)
Search the lowest-cost Apartments available for rent right now in the New Chicago area of Memphis.


Greenlaw Apartments

Bickford Square Apartments

Looney Apartments

750 Chelsea Ave
Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between
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.

965 Eldridge Ave

1356-1370 Vollintine

1022 N 7th St

Lawson's Manufactured Housing Community

Lions Estate
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.

The Kendall

Greenlaw Apartments

April Woods

Chicago Park Place Apartments

675 Looney Rd
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.
New Chicago, Memphis, TN Local Guide

How much does it cost to rent an apartment in New Chicago?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| New Chicago 1 Bedroom Apartments | $680 | $510 | $850 |
| New Chicago 2 Bedroom Apartments | $833 | $750 | $895 |
| New Chicago 3 Bedroom Apartments | $995 | $995 | $995 |
Browse Apartments in this Neighborhood
There are currently 15 rentals with your search options within a 2 mile radius of the New Chicago Neighborhood of Memphis, TN.
See all Apartments in MemphisExplore Memphis
Cheapest Available New Chicago Apartments for Rent
 | Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Greenlaw Apartments | 2 bedroom x 1 bath | 2BR,1BA | $750 |
| Bickford Square Apartments | 2BR/2BA | 2BR,2BA | $895 |
Best Value Apartments for Rent in New Chicago, TN
As of February 01, 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 2 bedroom x 1 bath Model at Greenlaw Apartments starting at $750 with a $1.15 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 Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Bickford Square Apartments | 2BR/2BA | 2BR,2BA | $0.84 |
| Greenlaw Apartments | 2 bedroom x 1 bath | 2BR,1BA | $1.15 |
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

Affordable Memphis: The Best Lower Priced Neighborhoods with Character
Written by: Joshua Carlucci
I’m Josh, your ApartmentHomeLiving.com Local Expert for Memphis.

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.

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.

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.