Cheap Apartments for Rent in the North Memphis Neighborhood of Memphis, TN from $300 (195 Rentals)

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

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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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Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

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Renters Insurance 101: What It Is, What It Covers, and Why You Need It

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North Memphis, Memphis, TN Local Guide

Cheapest Available North Memphis Apartments for Rent

 

The cheapest available apartment rental in the North Memphis area of Memphis, TN is a 1 Bed unit found at 288 Leath St priced from $625. University Gardens Manor has the second lowest priced unit, which is a 2 Beds apartment currently listed from $659. Here are the most affordable North Memphis apartments for rent in Memphis, TN:

Apartment ListingModel NameBed/BathPriced From
288 Leath St1 Beds, 1 Baths1BR,1BA$625
University Gardens Manor2x1 Classic2BR,1BA$659
1111 N Parkway1 Beds, 1 Baths1BR,1BA$675
Grahamwood Place1 bedroom 1 bathroom1BR,1BA$699
Helix at the District - Utilities Included1 Bedroom 1 Bathroom1BR,1BA$744
Greenlaw Apartments2 bedroom x 1 bath2BR,1BA$750
Summer Oaks Apartments4030 Summer2BR,1BA$750
Merriwether1 Bedroom, 1 Bathroom1BR,1BA$750
Uptown Square ApartmentsStudio - HandicappedStudio,1BA$760

Best Value Apartments for Rent in North Memphis, TN

As of July 07, 2026 the best value apartment in the North Memphis area is the $0.51 price per square foot 4 Beds, 2 Baths Model at 378 N Highland St in the in the East Memphis neighborhood starting from $1,550. The second greatest value North Memphis apartment is the 431 N Evergreen St Model at 431 N Evergreen St, Unit 431 N. Evergreen St. starting at $1,800 with a $0.86 price per square foot in the East Memphis neighborhood. Here is today’s list of the best values for North Memphis apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
378 N Highland St4 Beds, 2 Baths4BR,2BA$0.51
431 N Evergreen St, Unit 431 N. Evergreen St.431 N Evergreen St3BR,2BA$0.86
Stonewall Apartments2 Bed 1.5 Bath2BR,1.5BA$0.81
Bickford Square Apartments2BR/2BA2BR,2BA$0.84
High Point Terrace Apartments2 Bed Bath 12BR,1BA$0.98
Summer Oaks Apartments4030 Summer2BR,1BA$0.81
Overton Place2 Bedroom Gardens I2BR,1BA$0.92
Graham Square Apartments2 Beds, 1 Baths2BR,1BA$0.94
1111 N Parkway1 Beds, 1 Baths1BR,1BA$0.84
Grahamwood Place1 bedroom 1 bathroom1BR,1BA$0.93

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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Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University

From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.

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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
North Memphis, Memphis, TN

Ranked #15

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

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Lifestyle Ratings

Our team compares millions of points of data to bring you our detailed rental analysis called 'Lifestyle Ratings' - a comparison of rentals in metropolitan areas across the United States including North Memphis, Memphis, and the greater Memphis area. LifeStyle Ratings are a useful tool for comparing and sorting apartments and neighborhoods when choosing your rental home. This takes in many factors including our Star Ratings to compare for outdoor amenities like tennis courts, luxury amenities, pet-friendly features, places that make kids happy, proximity to transit, and much more. Find Lifestyle Search in the filter options (above). Happy Searching!

Frequently Asked Questions about Cheap North Memphis Apartments

What is a cheap apartment in North Memphis?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in North Memphis is under $760.

What is the price of a cheap apartment in North Memphis?

The cheapest apartment in North Memphis is 288 Leath St which is listed at $625, while the average apartment in North Memphis costs $1,695.

What types of apartments are the cheapest in North Memphis?

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 231 regular apartments in North Memphis that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

How do the prices of cheap apartments compare to the average apartment in North Memphis?

Cheap apartments in North Memphis have an average cost of $592 which is $1,103 cheaper than the average rent for all rentals in North Memphis.

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.

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