Cheap Apartments for Rent in the Northeast Memphis Neighborhood of Memphis, TN from $600 (187 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Northeast 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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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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property at 2595 Reese Point Dr

$1,400

Total Monthly Price

Total Monthly Price

Base Rent
$1,400
Total Monthly Price
$1,400

2 Bedroom, 2 Bath Home for Rent

Available Now

2595 Reese Point Dr

MemphisTN38133

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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The Art of the Rental Viewing: What to look for during a property tour

Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

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Northeast Memphis, Memphis, TN Local Guide

Cheapest Available Northeast Memphis Apartments for Rent

 

The cheapest available apartment rental in the Northeast Memphis area of Memphis, TN is a 2 Beds unit found at Oak Grove Flats priced from $667. Summer Trace Apartments has the second lowest priced unit, which is a 2 Beds apartment currently listed from $765. Here are the most affordable Northeast Memphis apartments for rent in Memphis, TN:

Apartment ListingModel NameBed/BathPriced From
Oak Grove Flats2BR2BR,1BA$667
Summer Trace ApartmentsThe Bonelli2BR,1BA$765
The Summit ApartmentsBirch1BR,1BA$784
Covington HillsCVHA1r1BR,1BA$799
Greenbrook at Shelby FarmsSycamore1BR,1BA$808
The Canopy 2200One Bedroom One Bathroom Large1BR,1BA$829
Sycamore Lake1 Bed 1 Bath1BR,1BA$846
Gramercy Park1 Bedroom 1 Bathroom1BR,1BA$850
Mendenhall Gardens1A1BR,1BA$875
Highland ChateauA11BR,1BA$880

Best Value Apartments for Rent in Northeast Memphis, TN

As of April 15, 2026 the best value apartment in the Northeast Memphis area is the $0.69 price per square foot 3 Bed 2.5 Bath Model at Sunridge Townhomes in the in the Raleigh neighborhood starting from $1,250. The second greatest value Northeast Memphis apartment is the 2 Bedroom/2 Bathroom - Renovated Model at Colonial Estates starting at $1,325 with a $0.99 price per square foot in the Cordova-Appling neighborhood. Here is today’s list of the best values for Northeast Memphis apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Sunridge Townhomes3 Bed 2.5 Bath3BR,2.5BA$0.69
Colonial Estates2 Bedroom/2 Bathroom - Renovated2BR,2BA$0.99
Poplar Place TownhomesLennox2BR,1.5BA$1.01
Enclave at WolfchaseThe Northwestern3BR,2BA$0.99
Cordova CreekB32BR,1.5BA$1.07
The Landings at Houston LeveeThe Delta - 2x22BR,2BA$1.05
The Stella ApartmentsMagellan - 2 Bed, 2 Bath2BR,2BA$1.08
Village of Sycamore Ridge2br 1.5ba2BR,1.5BA$0.99
Oak Grove Flats3BR3BR,1.5BA$0.94
Sycamore Lake1 Bed 1 Bath1BR,1BA$1.08

10 Hidden Costs of Renting You Should Budget for Before Signing a Lease

Avoid financial stress when renting. Learn about the 10 most common hidden costs—from pet fees to utilities—you must budget for before you sign a lease.

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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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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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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
Northeast Memphis, Memphis, TN

Ranked #8

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

This website compiles millions of data points to bring you our detailed rental analysis called 'Lifestyle Ratings' - a comparison of rentals and neighborhoods across the USA, and customized analysis for Northeast Memphis, TN. LifeStyle Ratings are a useful tool for comparing and sorting apartments and neighborhoods when choosing your rental home. This takes in many factors including searching for the best amenities, and easy access to the parks, features that make it easier to raise kids, raising pets, transit options, and how walkable or bikeable each community and area is. Find Lifestyle Search in the filter options (above). Happy Searching!

Frequently Asked Questions about Cheap Northeast Memphis Apartments

What is a cheap apartment in Northeast Memphis?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Northeast Memphis is under $880.

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

The cheapest apartment in Northeast Memphis is Summer Trace Apartments which is listed at $770, while the average apartment in Northeast Memphis costs $2,650.

What types of apartments are the cheapest in Northeast 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 32 regular apartments in Northeast 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 Northeast Memphis?

Cheap apartments in Northeast Memphis have an average cost of $152 which is $2,498 cheaper than the average rent for all rentals in Northeast 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.

Articles, How-To's, and Tips

decorative image for Affordable Memphis: The Best Lower Priced Neighborhoods with Character article

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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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.

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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.

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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.