925 Lee Ave
MemphisTN38107
Cheap Homes for Rent in New Chicago Neighborhood of Memphis, TN from $500 (7 Rentals)
Search the lowest-cost Homes available for rent right now in the New Chicago area of Memphis.
701 Lyman Ave
MemphisTN38107
964 Joseph Pl
MemphisTN38107
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.
1133 Gerard St
MemphisTN38107
932 Lewis St
MemphisTN38107
896 N Dunlap St
MemphisTN38107
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.
1152 N Dunlap St
MemphisTN38107
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New Chicago, Memphis, TN Local Guide
How much does it cost to rent a home in New Chicago?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| New Chicago 2 Bedroom Homes for Rent | $815 | $575 | $1,100 |
| New Chicago 3 Bedroom Homes for Rent | $1,278 | $795 | $2,100 |
| New Chicago 4 Bedroom Homes for Rent | $1,446 | $1,095 | $1,850 |
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
Browse Homes for Rent in this Neighborhood
There are currently 7 rentals with your search options within a 2 mile radius of the New Chicago Neighborhood of Memphis, TN.
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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 Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Greenlaw Apartments | 2 bedroom x 1 bath | 2BR,1BA | $750 |
| The Kendall | 2BR/1.0BA | 2BR,1BA | $815 |
| Bickford Square Apartments | 2BR/2BA | 2BR,2BA | $895 |
Best Value Apartments for Rent in New Chicago, TN
As of April 22, 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 Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Bickford Square Apartments | 2BR/2BA | 2BR,2BA | $0.84 |
| The Kendall | 2BR/1.0BA | 2BR,1BA | $1.22 |
| Greenlaw Apartments | 2 bedroom x 1 bath | 2BR,1BA | $1.15 |
| 699 N 5th St, Unit 2 | 699 N 5th St | 1BR,1BA | $2.21 |
Frequently Asked Questions about New Chicago
What type of rentals are currently available in New Chicago?
There are currently 59 Apartments for Rent in New Chicago, TN with pricing that ranges from $750 to $1,350. There are also 26 Single Family Homes for rent, Condos, and Townhome rentals currently available in New Chicago ranging from $575 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 $575 to $2,100 with an average monthly rent of $1,088.
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.
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.
Maximizing Your Refund: Essential Tax Tips for Renters
Written by: Christine Leonard, Esq.
Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.
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.