Cheap Homes for Rent in Raleigh Neighborhood of Memphis, TN from $700 (15 Rentals)

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

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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The Art of the Rental Viewing: What to look for during a property tour

Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

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Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

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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 Hilldale Apartments priced from $600. 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$600
Walden PointeOne Bedroom 1X1C1BR,1BA$720
Huntington Hills2 BR/ 1 BA2BR,1BA$729
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 July 27, 2025 the best value apartment in the Raleigh area is the $0.85 price per square foot 4 Bed, 3 Bath Model at Sunridge Townhomes in the in the Raleigh neighborhood starting from $1,795. 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$0.85
Lakes at Epping Way3 Bed / 2 Bath - Family Option3BR,2BA$0.70
2775 The Springs Ct, Unit 27772775 The Springs Ct2BR,1.5BA$0.90
Hilldale Apartments3x13BR,1.5BA$0.83
Cedarwood Apartments2 Bed 1.5 Bath2BR,1.5BA$0.89
Lexington Apartments22G502BR,2BA$0.96
The Meridian Apartments1 Bed 1 Bath1BR,1BA$0.94
Scenic Hills Apartments1 Bedroom1BR,1BA$1.03
Avery Park Apartments2X12BR,1BA$1.10
Rivergrove1B1BR,1BA$0.99

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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Frequently Asked Questions about Raleigh

What type of rentals are currently available in Raleigh?

There are currently 43 Apartments for Rent in Raleigh, TN with pricing that ranges from $598 to $1,795. There are also 65 Single Family Homes for rent, Condos, and Townhome rentals currently available in Raleigh ranging from $795 to $2,400.

What is the current price range for Rental Homes in Raleigh?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Raleigh ranges from $795 to $2,400 with an average monthly rent of $1,454.

How much are larger Three and Four Bedroom Rentals in Raleigh?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Raleigh range from $698 to $1,495, while Three Bedroom Homes, Condos, and Townhomes for rent range from $950 to $2,400. Four Bedroom Single-Family rentals are also available starting from $1,395 and Four Bedroom Apartments start at $1,795.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

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.

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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

Written by: Cheryl Bowman

A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.

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The Art of the Rental Viewing: What to look for during a property tour

Written by: Marie Brown

You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.

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Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.

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The Freedom of Short-Term Leases: Exploring the Advantages for Renters

Written by: Bobbi Jackson

If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.