Cheap Homes for Rent in the North Memphis Neighborhood of Memphis, TN from $500 (83 Rentals)

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

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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property at 820 Maury St

$725

1 Bedroom Rentals

Available Now

820 Maury 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.

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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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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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property at 528 E Pkwy N

$900

Total Monthly Price

Total Monthly Price

Base Rent
$900
Total Monthly Price
$900

2 Bedroom, 2 Bath Home for Rent

Available Now

528 E Pkwy N, Unit 9

528 E Pkwy N
MemphisTN38112

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

From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

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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 11, 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
The WashburnWAS-B32BR,2BA$0.97
Stonewall Apartments2 Bed 1.5 Bath2BR,1.5BA$0.81
Bickford Square Apartments2BR/2BA2BR,2BA$0.84
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 #14

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

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Frequently Asked Questions about North Memphis

What type of rentals are currently available in North Memphis?

There are currently 394 Apartments for Rent in North Memphis, TN with pricing that ranges from $525 to $3,400. There are also 185 Single Family Homes for rent, Condos, and Townhome rentals currently available in North Memphis ranging from $595 to $4,000.

What is the current price range for Rental Homes in North Memphis?

Today's rental pricing for Homes for Rent, Condos and Townhomes in North Memphis ranges from $595 to $4,000 with an average monthly rent of $1,666.

How much are larger Three and Four Bedroom Rentals in North Memphis?

For those who are looking for larger living arrangements, Three Bedroom Apartments in North Memphis range from $940 to $3,400, while Three Bedroom Homes, Condos, and Townhomes for rent range from $700 to $3,000. Four Bedroom Single-Family rentals are also available starting from $950 and Four Bedroom Apartments start at $1,095.

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.

Helpful Local Expert Guides

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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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College Life in Memphis: Affordable Neighborhoods Where Students Really Live and Thrive

Written by: Joshua Carlucci

I’m Josh, your ApartmentHomeLiving.com Local Expert for Memphis.

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The Local Memphis Expert's Guide to Renting Near the Citys Top Employers

Written by: Joshua Carlucci

I'm Josh, your ApartmentHomeLiving.

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Memphis, Tennessee: A Local Expert's Insider Guide to the Bluff City

Written by: Joshua Carlucci

Hello from Memphis, Tennessee. I'm Josh, your ApartmentHomeLiving.com Local Expert for Memphis, and I spent years in this city eating, writing, cooking, studying, and getting to know it block by block.

Articles, How-To's, and Tips

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

Written by: Robin Stewart

Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.

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Apartment Occupancy Rates: Renter Attraction vs Renter Retention

Written by: Robin Stewart

There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.

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How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Written by: Robin Stewart

Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.

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Pet-Friendly Renting: Everything You Need to Know Before You Move

Written by: Christine Leonard, Esq.

For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.