Cheap Apartments for Rent in the Raleigh Neighborhood of Memphis, TN from $600 (27 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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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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Rivergrove
Studio to 3 Bedroom Apartments

Rivergrove

4000 Rio Lobo DrMemphis, TN 38128
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Coves at Yale
1 to 3 Bedroom Apartments

Coves at Yale

5022 Yale 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.

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Raleigh Court Townhomes
2 to 4 Bedroom Apartments

Raleigh Court Townhomes

4258 Green Hall WayMemphis, TN 38128
  • Utilities Included
Showing Results 1-27, 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. Hilldale Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $700. Here are the most affordable Raleigh apartments for rent in Memphis, TN:

Apartment ListingModel NameBed/BathPriced From
Huntington Hills1 BR/ 1 BA1BR,1BA$649
Hilldale Apartments1x11BR,1BA$700
Walden PointeOne Bedroom 1X1A1BR,1BA$720
Stonegate Apartments1x11BR,1BA$750
Country ViewA21BR,1BA$750
JamesbridgeA11BR,1BA$760
Lexington Apartments11G501BR,1BA$765
Avery Park Apartments1X11BR,1BA$770
Luxe at Raleigh1 Bedroom, 1 Bathroom1BR,1BA$775
Epping WayA11BR,1BA$785

Best Value Apartments for Rent in Raleigh, TN

As of April 26, 2026 the best value apartment in the Raleigh area is the $0.83 price per square foot 3DF Model at Rivergrove in the in the Raleigh neighborhood starting from $1,185. The second greatest value Raleigh apartment is the 3 Bed 2 Bath Model at The Meridian Apartments starting at $1,100 with a $0.92 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.
Rivergrove3DF3BR,1.75BA$0.83
The Meridian Apartments3 Bed 2 Bath3BR,2BA$0.92
Hilldale Apartments3x13BR,1.5BA$0.90
AbingtonTown Home2BR,1.5BA$0.93
Beverly Springs2 Bedroom, 1 Bathroom2BR,1BA$0.96
Epping WayA11BR,1BA$1.01
Stonegate Apartments1x11BR,1BA$1.00
Walden PointeOne Bedroom 1X1A1BR,1BA$1.03
Huntington Hills1 BR/ 1 BA1BR,1BA$0.97
JamesbridgeA11BR,1BA$1.15

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
Raleigh, Memphis, TN

Ranked #76

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 $729 at Huntington Hills.

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.

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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Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts

Written by: Lauren Harrington

This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

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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.