Cheap Apartments for Rent in the Riverwalk Neighborhood of Memphis, TN from $700 (44 Rentals)

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

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Affordable Memphis: The Best Neighborhoods with Character and Lower Rents

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Crescent Bluff II
1 to 2 Bedroom Apartments

Crescent Bluff II

10 E Virginia AveMemphis, TN 38106
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Crescent Bluff
1 to 3 Bedroom Apartments

Crescent Bluff

25 E Virginia AveMemphis, TN 38106
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2nd Street Flats
1 to 3 Bedroom Apartments

2nd Street Flats

362 S 2nd StMemphis, TN 38103
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W.L.
Studio to 2 Bedroom Apartments

W.L.

267 S Main StMemphis, TN 38103
  • Utilities Included

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Forum Flats
1 to 3 Bedroom Apartments

Forum Flats

441 E Pontotoc AveMemphis, TN 38126
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Patterson Flats
1 to 3 Bedroom Apartments

Patterson Flats

259 E Butler AveMemphis, TN 38126
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Main Street Flats
Studio to 2 Bedroom Apartments

Main Street Flats

101 S Main StMemphis, TN 38103
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Cornerstone Flats
1 to 2 Bedroom Apartments

Cornerstone Flats

113 S Main StMemphis, TN 38103
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The Washburn
1 to 2 Bedroom Apartments

The Washburn

60 S Main StMemphis, TN 38103
Corporate Housing
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Van Vleet Flats
1 to 2 Bedroom Apartments

Van Vleet Flats

122 Gayoso AveMemphis, TN 38103
  • Utilities Included

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Lowenstein
1 to 2 Bedroom Apartments

Lowenstein

66 N Main StMemphis, TN 38103
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Annex Lofts
1 to 2 Bedroom Apartments

Annex Lofts

345 S Front StMemphis, TN 38103
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Cabinet Shop Lofts
Studio to 2 Bedroom Apartments

Cabinet Shop Lofts

436 S Front StMemphis, TN 38103
Showing Results 1-44, Page 1 of 1

Riverwalk, Memphis, TN Local Guide

Cheapest Available Riverwalk Apartments for Rent

 

The cheapest available apartment rental in the Riverwalk area of Memphis, TN is a 1 Bed unit found at Owens Place Townhomes priced from $760. Indigo Riverview has the second lowest priced unit, which is a Studio apartment currently listed from $857. Here are the most affordable Riverwalk apartments for rent in Memphis, TN:

Apartment ListingModel NameBed/BathPriced From
Owens Place Townhomes1 Bed Flat1BR,1BA$760
Indigo RiverviewEmoryStudio,1BA$857
Printer's Alley LoftsPAL-A21BR,1BA$900
Exchange Building1 Bedroom Small1BR,1BA$925
The ChiscaA1r1BR,1BA$927
280 Vance Flats1 Bedroom 1 Bath Unit 1A (ADA)1BR,1BA$950
Forum Flats1-C Type B-60%1BR,1BA$953
Fielder SquareE1 StudioStudio,1BA$954
The CommonwealthThe TownsendStudio,1BA$995
Lofts at Merchant RowFloor Plan E1BR,1BA$995

Best Value Apartments for Rent in Riverwalk, TN

As of December 12, 2025 the best value apartment in the Riverwalk area is the $1.51 price per square foot NTM-B5 Model at Number 10 Main in the in the Downtown Memphis neighborhood starting from $1,999. The second greatest value Riverwalk apartment is the B1 Model at 266 Lofts starting at $1,500 with a $1.46 price per square foot in the Downtown Memphis neighborhood. Here is today’s list of the best values for Riverwalk apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Number 10 MainNTM-B52BR,2BA$1.51
266 LoftsB12BR,2BA$1.46
Grand Island ApartmentsWaterstone1BR,1BA$1.42
Museum LoftsThe Delta1BR,1BA$1.45
South Bluffs Apartments8191BR,1BA$1.65
The WashburnWAS-A11BR,1BA$1.58
Lofts at Merchant RowFloor Plan E1BR,1BA$1.42
Owens Place Townhomes1 Bed Flat1BR,1BA$1.10
Forum Flats1-C Type B-60%1BR,1BA$1.41
280 Vance Flats1 Bedroom 1 Bath Unit 1A (ADA)1BR,1BA$1.44

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

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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
Riverwalk, Memphis, TN

Ranked #25

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

Pet Friendliness Lifestyle Score

3.0
Pet Friendly

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Lifestyle Ratings

Our team of engineers and researchers compares millions of points of data to bring you our detailed rental analysis called 'Lifestyle Ratings' - a comparison of rentals in cities across the United States, including Memphis. LifeStyle Ratings are the best way to sort through finding a place to live - beyond price and floorplan. This takes in many factors including filtering automatically for the best outdoor access, luxury housing options, kid and pet-friendly communities, availability of transit options, and other valuable search options. These search options are in the site filters at the top of this page.

Getting Around the Riverwalk Neighborhood in Memphis, TN

Walk Score®

84 / 100

Very Walkable

Most errands can be accomplished on foot

Bike Score®

75 / 100

Very Bikeable

Biking is convenient for most trips

Transit Score®

47 / 100

Some Transit

A few nearby public transportation options

What Are Walk Score®, Transit Score®, and Bike Score® Ratings?

  • Walk Score® measures the walkability of any address.
  • Transit Score® measures access to public transit.
  • Bike Score® measures the bikeability of any address.

Frequently Asked Questions about Cheap Riverwalk Apartments

What is a cheap apartment in Riverwalk?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Riverwalk is under $995.

What is the price of a cheap apartment in Riverwalk?

The cheapest apartment in Riverwalk is Owens Place Townhomes which is listed at $760, while the average apartment in Riverwalk costs $2,490.

What types of apartments are the cheapest in Riverwalk?

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

How do the prices of cheap apartments compare to the average apartment in Riverwalk?

Cheap apartments in Riverwalk have an average cost of $451 which is $2,039 cheaper than the average rent for all rentals in Riverwalk.

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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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.

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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate!