Cheap Apartments for Rent in the Raleigh Neighborhood of Memphis, TN from $600 (21 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
to
Lifestyle Matching SearchDone
Learn more about Lifestyle Search
By AmenitiesDone
By Community TypeDone
Features and AvailabilityDone
Done

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

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.

Read Article

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.

Read Article
close
View Me
Rivergrove
Studio to 3 Bedroom Apartments

Rivergrove

4000 Rio Lobo DrMemphis, TN 38128
close
View Me
Jamesbridge
1 to 2 Bedroom Apartments

Jamesbridge

3815 N Advantage Way DrMemphis, TN 38128
  • Utilities Included
close
View Me
Coves at Yale
1 to 3 Bedroom Apartments

Coves at Yale

5022 Yale RdMemphis, TN 38128
close
View Me
Highland Chateau
1 to 3 Bedroom Apartments

Highland Chateau

5246 Raleigh Lagrange RdMemphis, TN 38134
close
View Me
Covington Hills
1 to 3 Bedroom Apartments

Covington Hills

4800 Raleigh Lagrange RdMemphis, TN 38128

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.

Read Article
Showing Results 1-21, Page 1 of 1

Cheapest Available Raleigh Apartments for Rent

 

The cheapest available apartment rental in the Raleigh area of Memphis, TN is a 1 Bed unit found at Hilldale Apartments priced from $700. Walden Pointe has the second lowest priced unit, which is a 1 Bed apartment currently listed from $720. Here are the most affordable Raleigh apartments for rent in Memphis, TN:

Apartment ListingModel NameBed/BathPriced From
Hilldale Apartments1x11BR,1BA$700
Walden PointeOne Bedroom 1X1A1BR,1BA$720
The Summit ApartmentsAsh1BR,1BA$740
Jamesbridge1 Bed / 1 Bath - Comfort Option1BR,1BA$740
Stonegate Apartments1x11BR,1BA$750

Best Value Apartments for Rent in Raleigh, TN

As of January 23, 2026 the best value apartment in the Raleigh area is the $0.78 price per square foot 3 Bed 2.5 Bath Model at Sunridge Townhomes in the in the Raleigh neighborhood starting from $1,395. The second greatest value Raleigh apartment is the 3 Bed / 2 Bath - Family Option Model at Lakes at Epping Way starting at $975 with a $0.70 price per square foot in the Raleigh neighborhood. Here is today’s list of the best values for Raleigh apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Sunridge Townhomes3 Bed 2.5 Bath3BR,2.5BA$0.78
Lakes at Epping Way3 Bed / 2 Bath - Family Option3BR,2BA$0.70
Hilldale Apartments3x13BR,1.5BA$0.90
Cedarwood Apartments2 Bed 1.5 Bath2BR,1.5BA$0.84
Beverly Springs2 Bedroom, 1 Bathroom2BR,1BA$0.92
Avery Park Apartments2X1.52BR,1.5BA$1.08
The Meridian Apartments1 Bed 1 Bath1BR,1BA$1.09
Luxe at Raleigh2 Bedroom, 1 Bathroom2BR,1BA$1.12
Stonegate Apartments1x11BR,1BA$1.00
Walden PointeOne Bedroom 1X1A1BR,1BA$1.03

Frequently Asked Questions about Cheap Raleigh Apartments

What is the price of a cheap apartment in Raleigh?

The cheapest apartment in Raleigh is Hilldale Apartments which is listed at $700, while the average apartment in Raleigh costs $1,645.

What types of apartments are the cheapest in Raleigh?

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 3 regular apartments in Raleigh 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 Raleigh?

Cheap apartments in Raleigh have an average cost of $179 which is $1,466 cheaper than the average rent for all rentals in Raleigh.

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.

decorative image for 18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property article

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.

decorative image for A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment article

A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment

Written by: Bob Mallory

Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.

decorative image for Renting with Roommates: Realistic Expectations for Shared Lease article

Renting with Roommates: Realistic Expectations for Shared Lease

Written by: Christine Leonard, Esq.

Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.