Cheap Homes for Rent in Raleigh Neighborhood of Memphis, TN from $600 (15 Rentals)

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

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.

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.

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.

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 $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
Jamesbridge1 Bed / 1 Bath - Comfort Option1BR,1BA$740
The Meridian Apartments1 Bed 1 Bath1BR,1BA$750
Stonegate Apartments1/1-7501BR,1BA$750

Best Value Apartments for Rent in Raleigh, TN

As of December 24, 2025 the best value apartment in the Raleigh area is the $0.81 price per square foot 2 Bed 2 Bath Model at Sunridge Townhomes in the in the Raleigh neighborhood starting from $1,295. 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 Townhomes2 Bed 2 Bath2BR,2BA$0.81
Lakes at Epping Way3 Bed / 2 Bath - Family Option3BR,2BA$0.70
Raleigh Court Townhomes2 bedroom and 1 1/22BR,1.5BA$0.79
Rivergrove2B2BR,1.5BA$0.86
Hilldale Apartments3x13BR,1.5BA$0.90
Cedarwood Apartments2 Bed 1.5 Bath2BR,1.5BA$0.89
Beverly Springs2 Bedroom, 1 Bathroom2BR,1BA$0.92
The Meridian Apartments1 Bed 1 Bath1BR,1BA$0.94
Stonegate Apartments1/1-7501BR,1BA$1.00
Walden PointeOne Bedroom 1X1A1BR,1BA$1.03

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 #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 Raleigh

What type of rentals are currently available in Raleigh?

There are currently 42 Apartments for Rent in Raleigh, TN with pricing that ranges from $649 to $1,795. There are also 69 Single Family Homes for rent, Condos, and Townhome rentals currently available in Raleigh ranging from $695 to $2,150.

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 $695 to $2,150 with an average monthly rent of $1,196.

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 $829 to $1,495, while Three Bedroom Homes, Condos, and Townhomes for rent range from $895 to $1,665. Four Bedroom Single-Family rentals are also available starting from $1,410 and Four Bedroom Apartments start at $1,745.

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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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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How to Make Your Apartment Holiday-Ready: Renter-Friendly Tips

Written by: Justin Habersaat

Getting your apartment ready for the holidays can be exciting but sometimes challenging in a smaller space. Here are some modern tips to keep things festive, safe, and inviting this season.

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Renting with Roommates: Realistic Expectations for Shared Lease

Written by: Christine Leonard, Esq.

Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.

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Apartment Common Area Rules: What Renters Need to Know

Written by: Christine Leonard, Esq.

Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.