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

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

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Rivergrove
Studio to 3 Bedroom Apartments

Rivergrove

4000 Rio Lobo DrMemphis, TN 38128

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Jamesbridge
1 to 2 Bedroom Apartments

Jamesbridge

3815 N Advantage Way DrMemphis, TN 38128
  • 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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Highland Chateau
1 to 3 Bedroom Apartments

Highland Chateau

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

Covington Hills

4800 Raleigh Lagrange RdMemphis, TN 38128
  • Utilities Included

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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$730
Jamesbridge1 Bed / 1 Bath - Comfort Option1BR,1BA$740
The Meridian Apartments1 Bed 1 Bath1BR,1BA$750

Best Value Apartments for Rent in Raleigh, TN

As of March 11, 2026 the best value apartment in the Raleigh area is the $0.76 price per square foot 4 Bed, 3 Bath Model at Sunridge Townhomes in the in the Raleigh neighborhood starting from $1,595. 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 Townhomes4 Bed, 3 Bath4BR,3BA$0.76
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$1.02
Avery Park Apartments2X1.52BR,1.5BA$1.08
The Meridian Apartments1 Bed 1 Bath1BR,1BA$0.94
Stonegate Apartments1x11BR,1BA$1.00
Walden PointeOne Bedroom 1X1A1BR,1BA$1.03
Jamesbridge1 Bed / 1 Bath - Comfort Option1BR,1BA$1.12

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 $1,595.

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 4 regular apartments in Raleigh that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

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

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

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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.