Cheap Homes for Rent in South Memphis Neighborhood of Memphis, TN from $500 (60 Rentals)

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Search the lowest-cost Homes 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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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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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$620
Mill Creek Apartments2 Bedroom / 2 Bathroom2BR,2BA$679
Winchester GroveThe Willow - StudioStudio,1BA$684
Creekside Meadows1 Bedroom 1 Bathroom1BR,1BA$688
Sunrise Terrace Apartments1 Bedroom1BR,1BA$690
Valley ForgeTwo Bedroom2BR,1BA$700
Manor Park Apartments1 Bed / 1 Bath1BR,1BA$700
Weaver Fields Apartments1 Bed, 1 bath1BR,1BA$725

Best Value Apartments for Rent in South Memphis, TN

As of June 19, 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$0.79
Longview Heights2 Bed / 1 Bath2BR,1BA$0.75
Weaver Fields Apartments1 Bed, 1 bath1BR,1BA$0.94

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Frequently Asked Questions about South Memphis

What type of rentals are currently available in South Memphis?

There are currently 488 Apartments for Rent in South Memphis, TN with pricing that ranges from $577 to $16,550. There are also 210 Single Family Homes for rent, Condos, and Townhome rentals currently available in South Memphis ranging from $595 to $10,000.

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 $595 to $10,000 with an average monthly rent of $1,593.

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 $852 to $4,480, while Three Bedroom Homes, Condos, and Townhomes for rent range from $834 to $10,000. Four Bedroom Single-Family rentals are also available starting from $995 and Four Bedroom Apartments start at $952.

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.