Cheap Homes for Rent in New Chicago Neighborhood of Memphis, TN from $600 (15 Rentals)

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

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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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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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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New Chicago, Memphis, TN Local Guide

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 December 07, 2025 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

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
New Chicago, Memphis, TN

Ranked #79

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

Pet Friendliness Lifestyle Score

2.5
Pet Friendly

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Frequently Asked Questions about New Chicago

What type of rentals are currently available in New Chicago?

There are currently 58 Apartments for Rent in New Chicago, TN with pricing that ranges from $545 to $1,200. There are also 35 Single Family Homes for rent, Condos, and Townhome rentals currently available in New Chicago ranging from $650 to $2,100.

What is the current price range for Rental Homes in New Chicago?

Today's rental pricing for Homes for Rent, Condos and Townhomes in New Chicago ranges from $650 to $2,100 with an average monthly rent of $1,189.

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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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!