Cheap Apartments for Rent in the Raleigh Neighborhood of Memphis, TN from $600 (37 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Raleigh 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 3061 McGee Cv

$1,000

1 Bedroom, 1 Bath Home for Rent

Available Jun 15

3061 McGee Cv

MemphisTN38128

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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Rivergrove
Studio to 3 Bedroom Apartments

Rivergrove

4000 Rio Lobo DrMemphis, TN 38128
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Beverly Springs
2 to 3 Bedroom Apartments

Beverly Springs

2879 Beverly Hills RdMemphis, TN 38128
Senior Living
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Coves at Yale
1 to 3 Bedroom Apartments

Coves at Yale

5022 Yale RdMemphis, TN 38128
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Raleigh Court Townhomes
2 to 4 Bedroom Apartments

Raleigh Court Townhomes

4258 Green Hall WayMemphis, TN 38128
  • Utilities Included

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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Showing Results 1-37, Page 1 of 1

Raleigh, Memphis, TN Local Guide

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 Huntington Hills priced from $649. Walden Pointe has the second lowest priced unit, which is a 1 Bed apartment currently listed from $680. Here are the most affordable Raleigh apartments for rent in Memphis, TN:

Apartment ListingModel NameBed/BathPriced From
Huntington Hills1 BR/ 1 BA1BR,1BA$649
Walden Pointe1x11BR,1BA$680
RivergroveEFFStudio,1BA$695
Hilldale Apartments1x11BR,1BA$700
Beverly Springs2 Bedroom, 1 Bathroom2BR,1BA$725
Country ViewA21BR,1BA$750
Stonegate Apartments1 bed 1 bath1BR,1BA$750
JamesbridgeA11BR,1BA$760
Lexington Apartments11G501BR,1BA$765
Epping WayA11BR,1BA$785

Best Value Apartments for Rent in Raleigh, TN

As of June 11, 2026 the best value apartment in the Raleigh area is the $0.90 price per square foot 3x1 Model at Hilldale Apartments in the in the Raleigh neighborhood starting from $900. The second greatest value Raleigh apartment is the 2 Bed 1.5 Bath Model at Cedarwood Apartments starting at $800 with a $0.84 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.
Hilldale Apartments3x13BR,1.5BA$0.90
Cedarwood Apartments2 Bed 1.5 Bath2BR,1.5BA$0.84
AbingtonTown Home2BR,1.5BA$1.08
Beverly Springs2 Bedroom, 1 Bathroom2BR,1BA$0.84
Luxe at Raleigh2 Bedroom, 1 Bathroom2BR,1BA$1.12
Epping WayA11BR,1BA$1.01
Avery Park Apartments2X12BR,1BA$1.13
Stonegate Apartments1 bed 1 bath1BR,1BA$1.00
Walden Pointe1x1 w/ washer and dryer connections1BR,1BA$1.03
Huntington Hills1 BR/ 1 BA1BR,1BA$0.97

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
Raleigh, Memphis, TN

Ranked #78

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

Pet Friendliness Lifestyle Score

2.5
Pet Friendly

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Frequently Asked Questions about Cheap Raleigh Apartments

How much is rent for a Cheap One Bedroom Raleigh Apartment?

The lowest price for a Cheap One Bedroom Raleigh Apartment is $649 at Huntington Hills.

What is the lowest price for a Cheap Two Bedroom Raleigh Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Raleigh is starting from $725 at Beverly Springs.

What is the most affordable Raleigh Three Bedroom Apartment?

The best deal on a cheap Raleigh Three Bedroom Apartment rental is at Huntington Hills and starts from $829.

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 Experts 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 Experts 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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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.

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Creative Ways Developers Reimagine Retail Spaces as Residential Units

Written by: Robin Stewart

Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.

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Neighborhood and Market Insights: How to Choose the Right Area to Rent

Written by: Robin Stewart

Apartment-hunting can be a gargantuan task. Renters have a wish list of items—some luxuries, some necessities—but finding what you seek in the right place is perhaps the most important part of the journey.