Cheap Apartments for Rent in the South Memphis Neighborhood of Memphis, TN from $450 (250 Rentals)

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

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The Local Memphis Expert's Guide to Renting Near the City's Top Employers

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property at 1277 Carr Ave
$775
1 Bedroom Rentals
Available Now
Cost Per Sq.Ft.

1277 Carr Ave

MemphisTN38104
  • Smoke Free

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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property at 2168 Carnes Ave
$850
3 Bedroom Rentals
Available Now
Affordability

2168 Carnes Ave

MemphisTN38114
  • Smoke Free

Renters Insurance 101: What It Is, What It Covers, and Why You Need It

From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

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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 1298 Carr priced from $550. Longview Gardens has the second lowest priced unit, which is a 2 Beds apartment currently listed from $561. Here are the most affordable South Memphis apartments for rent in Memphis, TN:

Apartment ListingModel NameBed/BathPriced From
1298 Carr0BR/1.0BAStudio,1BA$550
Longview Gardens2 Bedroom2BR,1BA$561
Emberly Apartments1 Bedroom, 1 Bathroom1BR,1BA$598
Longview Heights2 Bed / 1 Bath2BR,1BA$605
Mill Creek Apartments1 Bedroom / 1 Bathroom1BR,1BA$607
Pinetree Place Apartments2 Bedroom Basic Remodel2BR,1BA$625
1277 Airways Blvd2 Beds, 1 Baths2BR,1BA$625
2309 Warren St1 Beds, 1 Baths1BR,1BA$625
Creekside Meadows1 Bedroom 1 Bathroom1BR,1BA$662
Bantam Springbrook ApartmentsStudioStudio,1BA$675

Best Value Apartments for Rent in South Memphis, TN

As of September 06, 2026 the best value apartment in the South Memphis area is the $0.73 price per square foot Three Bedroom Townhome w/ Stairs Model at Fairway in the in the South Memphis neighborhood starting from $1,025. The second greatest value South Memphis apartment is the 3 Bedroom 2 Bathroom Model at Sutton at Shelby starting at $1,175 with a $0.87 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.
FairwayThree Bedroom Townhome w/ Stairs3BR,2.5BA$0.73
Sutton at Shelby3 Bedroom 2 Bathroom3BR,2BA$0.87
285 Lucy Ave2 Beds, 1 Baths2BR,1BA$0.83
Wilson TownhomesB12BR,1.5BA$0.94
Faronia Square2 bdr 1.5 ba Plan IV2BR,1.5BA$0.75
1101 S Rembert St, Unit 11011101 S Rembert St1BR,1BA$0.78
Whispering Pines1 BR1BR,1BA$0.83
Longview Heights2 Bed / 1 Bath2BR,1BA$0.77
Longview Gardens2 Bedroom2BR,1BA$0.71
Mill Creek Apartments1 Bedroom / 1 Bathroom1BR,1BA$0.93

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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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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Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University

From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.

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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 Memphis, Memphis, TN

Ranked #22

Among cities in Tennessee 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 a cheap apartment in South Memphis?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in South Memphis is under $675.

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

The cheapest apartment in South Memphis is 1298 Carr which is listed at $595, while the average apartment in South Memphis costs $975.

What types of apartments are the cheapest in South Memphis?

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 144 regular apartments in South Memphis 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 Memphis?

Cheap apartments in South Memphis have an average cost of $403 which is $572 cheaper than the average rent for all rentals in South Memphis.

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.

Helpful Local Expert Guides

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Memphis, Tennessee: A Local Expert's Insider Guide to the Bluff City

Written by: Joshua Carlucci

Hello from Memphis, Tennessee. I'm Josh, your ApartmentHomeLiving.com Local Expert for Memphis, and I spent years in this city eating, writing, cooking, studying, and getting to know it block by block.

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The Local Memphis Expert's Guide to Renting Near the Citys Top Employers

Written by: Joshua Carlucci

I'm Josh, your ApartmentHomeLiving.

decorative image for College Life in Memphis: Affordable Neighborhoods Where Students Really Live and Thrive article

College Life in Memphis: Affordable Neighborhoods Where Students Really Live and Thrive

Written by: Joshua Carlucci

I’m Josh, your ApartmentHomeLiving.com Local Expert for Memphis.

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.

Articles, How-To's, and Tips

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Written by: Robin Stewart

The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.

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Exploring Rental Options: Apartments, Townhomes, and Lofts - Oh My!

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Where do you see yourself? When you think of home, sweet home, are you in a 3/2 apartment? Dreaming of a tall townhome? Maybe an industrial loft heavy on cool vibes is on your visioning board.

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Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags

Written by: Robin Stewart

Renters want to find a great apartment, the right place for them, one that checks all the boxes of location, rental cost, amenities, safety, and more.

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First Apartment Regrets: Real Renters Share What They'd Do Differently

Written by: Robin Stewart

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