Cheap Apartments for Rent in the South Main Neighborhood of Memphis, TN from $700 (34 Rentals)

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

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

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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.

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Crescent Bluff
1 to 3 Bedroom Apartments

Crescent Bluff

25 E Virginia AveMemphis, TN 38106
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Exchange Building
Studio to 2 Bedroom Apartments

Exchange Building

9 N 2nd StMemphis, TN 38103
Furnished
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W.L.
Studio to 2 Bedroom Apartments

W.L.

267 S Main StMemphis, TN 38103
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Patterson Flats
1 to 3 Bedroom Apartments

Patterson Flats

259 E Butler AveMemphis, TN 38126
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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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Annex Lofts
1 to 2 Bedroom Apartments

Annex Lofts

345 S Front StMemphis, TN 38103

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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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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Van Vleet Flats
1 to 2 Bedroom Apartments

Van Vleet Flats

122 Gayoso AveMemphis, TN 38103
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50 Peabody Place
Studio to 2 Bedroom Apartments

50 Peabody Place

50 Peabody PlMemphis, TN 38103
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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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Cabinet Shop Lofts
Studio to 2 Bedroom Apartments

Cabinet Shop Lofts

436 S Front StMemphis, TN 38103

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.

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Showing Results 1-34, Page 1 of 1

South Main, Memphis, TN Local Guide

Cheapest Available South Main Apartments for Rent

 

The cheapest available apartment rental in the South Main area of Memphis, TN is a 1 Bed unit found at Owens Place Townhomes priced from $760. Crescent Bluff has the second lowest priced unit, which is a 1 Bed apartment currently listed from $784. Here are the most affordable South Main apartments for rent in Memphis, TN:

Apartment ListingModel NameBed/BathPriced From
Owens Place Townhomes1 Bed Flat1BR,1BA$760
Crescent Bluff11A501BR,1BA$784
The ChiscaA1r1BR,1BA$927
Lofts at Union AlleyE2Studio,1BA$946
280 Vance Flats1 Bedroom 1 Bath Unit 1A (ADA)1BR,1BA$950
South Junction ApartmentsThe EdgeStudio,1BA$999
South Line at Central StationstudioStudio,1BA$999
266 LoftsA1 Phase II1BR,1BA$1,000
Museum LoftsThe Stax1BR,1BA$1,000
Pressbox LoftsTimes New RomanStudio,1BA$1,095

Best Value Apartments for Rent in South Main, TN

As of April 26, 2026 the best value apartment in the South Main area is the $1.36 price per square foot Floor Plan A Model at Lofts at Merchant Row in the in the Downtown Memphis neighborhood starting from $1,695. The second greatest value South Main apartment is the C3 Model at 99 Front Apartments starting at $1,899 with a $1.69 price per square foot in the Downtown Memphis neighborhood. Here is today’s list of the best values for South Main apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Lofts at Merchant RowFloor Plan A1BR,1.5BA$1.36
99 Front ApartmentsC32BR,2BA$1.69
2nd Street Flats32A603BR,2BA$1.24
266 LoftsB1 Phase II2BR,2BA$1.46
Museum LoftsThe Delta1BR,1BA$1.51
Crescent Bluff22A602BR,2BA$1.40
Downtown Memphis FlatsBarboro 1 Bedroom1BR,1BA$1.43
Pressbox LoftsCopperplate1BR,1BA$1.99
Owens Place Townhomes1 Bed Flat1BR,1BA$1.10
280 Vance Flats1 Bedroom 1 Bath Unit 1A (ADA)1BR,1BA$1.44

10 Hidden Costs of Renting You Should Budget for Before Signing a Lease

Avoid financial stress when renting. Learn about the 10 most common hidden costs—from pet fees to utilities—you must budget for before you sign a lease.

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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
South Main, Memphis, TN

Ranked #46

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

Pet Friendliness Lifestyle Score

2.5
Pet Friendly

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Lifestyle Ratings

Our team of engineers and researchers is proud to bring you Lifestyle Ratings of neighborhoods, cities, and rental properties across Tennessee, including Memphis. LifeStyle Ratings are a useful tool for comparing and sorting apartments and neighborhoods when choosing your rental home. This takes in many factors including rankings of the best places for outdoor amenities like tennis courts, luxury amenities, kid and pet-friendly communities, availability of transit options, in addition to floorplans, availablity, and pricing. These search options are in the site filters at the top of this page.

Frequently Asked Questions about Cheap South Main Apartments

What is a cheap apartment in South Main?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in South Main is under $1,095.

What is the price of a cheap apartment in South Main?

The cheapest apartment in South Main is Owens Place Townhomes which is listed at $760, while the average apartment in South Main costs $2,771.

What types of apartments are the cheapest in South Main?

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 42 regular apartments in South Main 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 South Main?

Cheap apartments in South Main have an average cost of $762 which is $2,009 cheaper than the average rent for all rentals in South Main.

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

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.

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Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts

Written by: Lauren Harrington

This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

decorative image for What Does “Rent Burdened” Mean? How Much Rent Is Too Much article

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Written by: Lauren Harrington

This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.

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Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.