Cheap Homes for Rent in the South Memphis Neighborhood of Memphis, TN from $500 (92 Rentals)

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

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

Moving to the Bluff City? Get the insider’s guide on Memphis life, from specific neighborhood personalities and current average rent, to the best barbecue and live music spots.

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Rent According to Income: A Look at Income-Restricted Rentals

Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.

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

Memphis apartment guide from a local expert, breaking down neighborhoods, average rent, and ideal commute times near the 5 largest employers - FedEx, St. Jude, U of M, Methodist, and AutoZone.

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property at 1235 Driver St

$950

Total Monthly Price

Total Monthly Price

Base Rent
$950
Total Monthly Price
$950

2 Bedroom, 1 Bath Home for Rent

Available Now

1235 Driver St

MemphisTN38106
property at 1261 Central Ave

$975

Total Monthly Price

Total Monthly Price

Base Rent
$975
Total Monthly Price
$975

1 Bedroom, 1 Bath Home for Rent

Available Now

1261 Central Ave, Unit 4

1261 Central Ave
MemphisTN38104

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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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 2 Beds unit found at Longview Gardens priced from $570. Emberly Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $598. Here are the most affordable South Memphis apartments for rent in Memphis, TN:

Apartment ListingModel NameBed/BathPriced From
Longview Gardens2 Bedroom2BR,1BA$570
Emberly Apartments1 Bedroom, 1 Bathroom1BR,1BA$598
Longview Heights2 Bed / 1 Bath2BR,1BA$610
Mill Creek Apartments1 Bedroom / 1 Bathroom1BR,1BA$617
1277 Airways Blvd2 Beds, 1 Baths2BR,1BA$650
2309 Warren St1 Beds, 1 Baths1BR,1BA$650
Bantam Springbrook ApartmentsStudioStudio,1BA$675
Pinetree Place Apartments1 Bedroom Premium Remodel1BR,1BA$675
Graceland Pointe ApartmentsA11BR,1BA$680
Winchester GroveThe Willow - StudioStudio,1BA$684

Best Value Apartments for Rent in South Memphis, TN

As of August 05, 2026 the best value apartment in the South Memphis area is the $0.67 price per square foot Two Bedroom Townhome w/Stairs Model at Fairway in the in the South Memphis neighborhood starting from $925. The second greatest value South Memphis apartment is the 2 Beds, 1 Baths Model at 285 Lucy Ave starting at $1,000 with a $0.83 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.
FairwayTwo Bedroom Townhome w/Stairs2BR,1.5BA$0.67
285 Lucy Ave2 Beds, 1 Baths2BR,1BA$0.83
Faronia Square2 bdr 1.5 ba Plan IV2BR,1.5BA$0.75
Shelby Pointe TownhomesB12BR,1.5BA$0.89
Sutton at Shelby2 Bedroom 1.5 Bathroom2BR,1.5BA$0.85
Whispering Pines1 BR1BR,1BA$0.83
1101 S Rembert St, Unit 11011101 S Rembert St1BR,1BA$0.83
Creekside Meadows2 Bedroom 1 Bathroom2BR,1BA$0.90
Longview Heights2 Bed / 1 Bath2BR,1BA$0.77
Longview Gardens2 Bedroom2BR,1BA$0.72

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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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

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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 #32

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

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Frequently Asked Questions about South Memphis

What type of rentals are currently available in South Memphis?

There are currently 524 Apartments for Rent in South Memphis, TN with pricing that ranges from $547 to $2,256. There are also 269 Single Family Homes for rent, Condos, and Townhome rentals currently available in South Memphis ranging from $550 to $4,900.

What is the current price range for Rental Homes in South Memphis?

Today's rental pricing for Homes for Rent, Condos and Townhomes in South Memphis ranges from $550 to $4,900 with an average monthly rent of $1,405.

How much are larger Three and Four Bedroom Rentals in South Memphis?

For those who are looking for larger living arrangements, Three Bedroom Apartments in South Memphis range from $845 to $1,695, while Three Bedroom Homes, Condos, and Townhomes for rent range from $850 to $3,500. Four Bedroom Single-Family rentals are also available starting from $895 and Four Bedroom Apartments start at $1,014.

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.

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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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Rent According to Income: A Look at Income-Restricted Rentals

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

Written by: Robin Stewart

Hindsight is 20/20. Live and Learn. With age comes wisdom. We’re familiar with all those expressions, and all of them apply to lessons first-time renters learn.

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

Written by: Robin Stewart

Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.

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Apartment Occupancy Rates: Renter Attraction vs Renter Retention

Written by: Robin Stewart

There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.