Cheap Apartments for Rent in the Northeast Memphis Neighborhood of Memphis, TN from $600 (128 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Northeast 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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property at 6705 Majestic Oak Pl

$1,350

Total Monthly Price

Total Monthly Price

Base Rent
$1,350
Total Monthly Price
$1,350

2 Bedroom, 2 Bath Condo for Rent

Available Now

6705 Majestic Oak Pl, Unit 6705

6705 Majestic Oak Pl
MemphisTN38120
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Elite Living Residence
Studio Apartments

Elite Living Residence

5225 Summer AveMemphis, TN 38122
Corporate Housing
  • Utilities Included
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Coves at Yale
1 to 3 Bedroom Apartments

Coves at Yale

5022 Yale RdMemphis, TN 38128
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The Embassy Apartments
Studio to 3 Bedroom Apartments

The Embassy Apartments

505 S Perkins RdMemphis, TN 38117
  • Utilities Included
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Gramercy Park
1 to 2 Bedroom Apartments

Gramercy Park

2163 Nathaniel Cir WMemphis, TN 38134

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

Memphis apartment guide from a local expert, breaking down neighborhoods, average rent, and ideal commute times near the 5 largest employers - FedEx, St. Jude, U of M, Methodist, and AutoZone.

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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 1 Bed apartment currently listed from $675. 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 Ayers1BR,1BA$675
Edgewater Apartments1BR/1BA1BR,1BA$705
Sycamore Lake1 Bed 1 Bath1BR,1BA$786
Covington HillsCVHA1r1BR,1BA$799
The Summit ApartmentsBirch1BR,1BA$821
The Canopy 2200One Bedroom One Bathroom Large1BR,1BA$829
Greenbrook at Shelby FarmsMagnolia1BR,1BA$850
Avery Park Apartments2X12BR,1BA$870
Mendenhall Gardens1A1BR,1BA$875

Best Value Apartments for Rent in Northeast Memphis, TN

As of May 30, 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 3x2.5 Medium Model at Legacy on Lynnfield - NEWLY UPGRADED starting at $1,650 with a $1.00 price per square foot in the East Memphis 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
Legacy on Lynnfield - NEWLY UPGRADED3x2.5 Medium3BR,2.5BA$1.00
The Landings at Houston LeveeThe Brookside - 3x23BR,2BA$1.03
Poplar Place TownhomesLennox2BR,1.5BA$1.01
Village of Sycamore Ridge2brTH 1.5ba2BR,1.5BA$0.84
The Stella ApartmentsMagellan - 2 Bed, 2 Bath2BR,2BA$1.08
The Glen Townhomes2 BD2BR,1.5BA$1.02
Oak Grove Flats3BR3BR,1.5BA$0.94
Edgewater Apartments1BR/1BA1BR,1BA$0.94
Sycamore Lake1 Bed 1 Bath1BR,1BA$1.05

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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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 #7

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 $875.

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 $675, while the average apartment in Northeast Memphis costs $3,100.

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 17 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 $128 which is $2,972 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.

Helpful Local Expert Guides

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