Cheap Apartments for Rent in the South Memphis Neighborhood of Memphis, TN from $300 (77 Rentals)

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Search the lowest-cost Apartments available for rent right now in the South Memphis 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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Birchleaf Apartments
2 Bedroom Apartments

Birchleaf Apartments

1033 Whitaker DrMemphis, TN 38116
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Sterling Townhomes
1 to 2 Bedroom Apartments

Sterling Townhomes

1903 E Raines RdMemphis, TN 38116
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Lapaloma Apartments
1 to 2 Bedroom Apartments

Lapaloma Apartments

1393 Lapaloma CirMemphis, TN 38114
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Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

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Edgewood Townhomes
2 Bedroom Apartments

Edgewood Townhomes

1903 S Parkway EMemphis, TN 38114
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Raintree Apartments
2 Bedroom Apartments

Raintree Apartments

742 E Raines RdMemphis, TN 38116
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Winbranch Apartments
1 to 2 Bedroom Apartments

Winbranch Apartments

3551 Dalebranch DrMemphis, TN 38116
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South Memphis, Memphis, TN Local Guide

Cheapest Available South Memphis Apartments for Rent

 

The cheapest available apartment rental in the South Memphis area of Memphis, TN is a Studio unit found at New Horizon - Kingsgate priced from $577. Longview Heights has the second lowest priced unit, which is a 2 Beds apartment currently listed from $591. Here are the most affordable South Memphis apartments for rent in Memphis, TN:

Apartment ListingModel NameBed/BathPriced From
New Horizon - KingsgateEffStudio,1BA$577
Longview Heights2 Bed / 1 Bath2BR,1BA$591
Longview Gardens2 Bedroom2BR,1BA$598
Winchester GroveThe Willow - StudioStudio,1BA$684
Mill Creek Apartments2 Bedroom / 2 Bathroom2BR,2BA$684
Creekside Meadows1 Bedroom 1 Bathroom1BR,1BA$688
Sunrise Terrace Apartments1 Bedroom1BR,1BA$690
Coronado Manor1 bedroom1BR,1BA$699
Manor Park Apartments1 Bed / 1 Bath1BR,1BA$700
Valley ForgeTwo Bedroom2BR,1BA$700

Best Value Apartments for Rent in South Memphis, TN

As of June 23, 2025 the best value apartment in the South Memphis area is the $0.93 price per square foot B2 Model at Wilson Crossing in the in the South Memphis neighborhood starting from $1,115. The second greatest value South Memphis apartment is the 2 bdr 1.5 ba Plan IV Model at Faronia Square starting at $900 with a $0.75 price per square foot in the South Memphis neighborhood. Here is today’s list of the best values for South Memphis apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Wilson CrossingB22BR,1.5BA$0.93
Faronia Square2 bdr 1.5 ba Plan IV2BR,1.5BA$0.75
Ruby Oaks Apartments2 Beds, 2 baths2BR,2BA$0.95
Colonial Village Apartments2 Bedroom2BR,1BA$0.92
Hickory Hills2 Bedroom2BR,2BA$0.94
Valley ForgeTwo Bedroom2BR,1BA$0.80
Pinetree Place Apartments2x12BR,1BA$0.91
Longview Gardens2 Bedroom2BR,1BA$0.76
Longview Heights2 Bed / 1 Bath2BR,1BA$0.75
Weaver Fields Apartments1 Bed, 1 bath1BR,1BA$0.94

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 Memphis, Memphis, TN

Ranked #23

Among neighborhoods in Memphis, TN for Apartment listings with Pet Friendly Amenities

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Lifestyle Ratings

ApartmentHomeLiving brings you Lifestyle Ratings of rentals in cities across the United States including South Memphis, Memphis, and the greater Memphis area. 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 proximity to parks, luxury amenities, kid and pet-friendly communities, availability of transit options, and how walkable or bikeable each community and area is. Use Lifestyle Search in the site filter options on this page - and find your Perfect place!

Frequently Asked Questions about Cheap South Memphis Apartments

What is the Cheapest Studio apartment in South Memphis?

Currently the most affordable Cheap Studio Apartment in South Memphis is at New Horizon - Kingsgate listed at $577.

How much is rent for a Cheap One Bedroom South Memphis Apartment?

The lowest price for a Cheap One Bedroom South Memphis Apartment is $617 at New Horizon - Kingsgate.

What is the lowest price for a Cheap Two Bedroom South Memphis Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in South Memphis is starting from $591 at Longview Heights.

What is the most affordable South Memphis Three Bedroom Apartment?

The best deal on a cheap South Memphis Three Bedroom Apartment rental is at New Horizon - Kingsgate and starts from $852.

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.