Cheap Apartments for Rent in the Raleigh Neighborhood of Memphis, TN from $600 (41 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.

Memphis, Tennessee: A Local Expert's Insider Guide to the Bluff City

Moving to the Bluff City? Get the insider’s guide on Memphis life, from specific neighborhood personalities and current average rent, to the best barbecue and live music spots.

Read Article

Rent According to Income: A Look at Income-Restricted Rentals

Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.

Read Article
close
View Me
Rivergrove
Studio to 3 Bedroom Apartments

Rivergrove

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

Beverly Springs

2879 Beverly Hills RdMemphis, TN 38128
Senior Living
close
View Me
Country View
1 to 3 Bedroom Apartments

Country View

3990 Stephanie LnMemphis, TN 38128
close
View Me
Jamesbridge
1 to 2 Bedroom Apartments

Jamesbridge

3815 N Advantage Way DrMemphis, TN 38128

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.

Read Article
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
Raleigh Court Townhomes
2 to 4 Bedroom Apartments

Raleigh Court Townhomes

4258 Green Hall WayMemphis, TN 38128
  • Utilities Included

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

Renters Insurance 101: What It Is, What It Covers, and Why You Need It

From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

Read Article
Showing Results 1-41, 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
Hilldale Apartments1x11BR,1BA$700
The Summit ApartmentsAsh1BR,1BA$704
Beverly Springs2 Bedroom, 1 Bathroom2BR,1BA$725
Stonegate Apartments1 bed 1 bath1BR,1BA$750
Avery Park Apartments1X11BR,1BA$770
Luxe at Raleigh1 Bedroom, 1 Bathroom1BR,1BA$775
Epping WayA11BR,1BA$785
Lexington Apartments11G501BR,1BA$795

Best Value Apartments for Rent in Raleigh, TN

As of July 26, 2026 the best value apartment in the Raleigh area is the $0.74 price per square foot 4 Bed, 3 Bath Model at Sunridge Townhomes in the in the Raleigh neighborhood starting from $1,545. The second greatest value Raleigh apartment is the 3 bedroom 1 1/2 bath Model at Raleigh Court Townhomes starting at $1,225 with a $0.77 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$0.74
Raleigh Court Townhomes3 bedroom 1 1/2 bath3BR,1.5BA$0.77
Hilldale Apartments3x13BR,1.5BA$0.90
Cedarwood Apartments2 Bed 1.5 Bath2BR,1.5BA$0.84
Beverly Springs2 Bedroom, 1 Bathroom2BR,1BA$0.84
Epping WayA11BR,1BA$1.01
Rivergrove1B1BR,1BA$1.07
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!

Read Article
Decorative image

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.

Read Article
Decorative image

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.

Read Article
Decorative image

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.

decorative image of people with a giant lease agreement

Pet Friendly Lifestyle
Raleigh, Memphis, TN

Ranked #80

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

Pet Friendliness Lifestyle Score

2.5
Pet Friendly

decorative image of woman handing cat to small boy

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

decorative image for Memphis, Tennessee: A Local Expert's Insider Guide to the Bluff City article

Memphis, Tennessee: A Local Expert's 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.

decorative image for The Local Memphis Expert's Guide to Renting Near the Citys Top Employers article

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

Written by: Joshua Carlucci

I'm Josh, your ApartmentHomeLiving.

decorative image for College Life in Memphis: Affordable Neighborhoods Where Students Really Live and Thrive article

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.

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.

Articles, How-To's, and Tips

decorative image for Rent According to Income: A Look at Income-Restricted Rentals article

Rent According to Income: A Look at Income-Restricted Rentals

Written by: Robin Stewart

The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.

decorative image for Renters Insurance 101: What It Is, What It Covers, and Why You Need It article

Renters Insurance 101: What It Is, What It Covers, and Why You Need It

Written by: Robin Stewart

Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.

decorative image for Apartment Occupancy Rates: Renter Attraction vs Renter Retention article

Apartment Occupancy Rates: Renter Attraction vs Renter Retention

Written by: Robin Stewart

There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.

decorative image for How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide article

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.