Cheap Apartments for Rent in the South Memphis Neighborhood of Memphis, TN from $400 (107 Rentals)

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

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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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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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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

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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 2 Beds unit found at Longview Gardens priced from $495. Emberly Apartments has the second lowest priced unit, which is a Studio apartment currently listed from $547. Here are the most affordable South Memphis apartments for rent in Memphis, TN:

Apartment ListingModel NameBed/BathPriced From
Longview Gardens2 Bedroom2BR,1BA$495
Emberly ApartmentsEFFStudio,1BA$547
Longview Heights2 Bed / 1 Bath2BR,1BA$601
Pinetree Place Apartments2 Bedroom Basic RemodelStudio,1BA$625
Mill Creek Apartments1 Bedroom / 1 Bathroom1BR,1BA$627
Willie Mitchell Apartments2 Bed 1 Bath2BR,1BA$650
Bantam Springbrook ApartmentsStudioStudio,1BA$675
Winchester GroveThe Willow - StudioStudio,1BA$684
Graceland Pointe Apartments: Modern Style, Excellent Value in MemphisModern 1-Bedroom Living Near Graceland with Gat...1BR,1BA$695
Melrose Court Apartments1 Bed, 1 bath1BR,1BA$695

Best Value Apartments for Rent in South Memphis, TN

As of January 22, 2026 the best value apartment in the South Memphis area is the $0.36 price per square foot Private Room Model at 1791 Whitman Rd in the in the South Memphis neighborhood starting from $800. The second greatest value South Memphis apartment is the Two Bedroom Townhome w/Stairs Model at Fairway starting at $825 with a $0.60 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.
1791 Whitman RdPrivate Room5BR,1BA$0.36
FairwayTwo Bedroom Townhome w/Stairs2BR,1.5BA$0.60
Faronia Square2 bdr 1.5 ba Plan II2BR,1.5BA$0.76
Valley ForgeTwo Bedroom2BR,1BA$0.80
Creekside Meadows2 Bedroom 1 Bathroom2BR,1BA$0.86
Mill Creek Apartments2 Bedroom / 1 Bathroom2BR,1BA$0.88
Pinetree Place Apartments2 Bedroom Basic RemodelStudio ,1BA$0.74
1154 Wilson St1 Bed, 1 bath1BR,1BA$0.87
Longview Heights2 Bed / 1 Bath2BR,1BA$0.76
Longview Gardens2 Bedroom2BR,1BA$0.63

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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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 Emberly Apartments listed at $547.

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

The lowest price for a Cheap One Bedroom South Memphis Apartment is $627 at Mill Creek Apartments.

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 $495 at Longview Gardens.

What is the most affordable South Memphis Three Bedroom Apartment?

The best deal on a cheap South Memphis Three Bedroom Apartment rental is at Valley Forge and starts from $750.

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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18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

Written by: Lauren Harrington

Renting your next home can feel thrilling and overwhelming at the same time.

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A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment

Written by: Bob Mallory

Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.

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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.