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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What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

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965 Eldridge Ave
1 Bedroom Apartments

965 Eldridge Ave

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

750 Chelsea Ave

750 Chelsea AveMemphis, TN 38107
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Lions Estate
1 Bedroom Apartments

Lions Estate

1281 Lion StMemphis, TN 38107

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.

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1022 N 7th St
2 Bedroom Apartments

1022 N 7th St

1022 N 7th 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
  • Utilities Included

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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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 May 08, 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$2.21

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.

decorative image for A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back article

A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back

Written by: Lauren Harrington

I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.

decorative image for Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts article

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.

decorative image for What Does “Rent Burdened” Mean? How Much Rent Is Too Much article

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.