Cheap Homes for Rent in South Memphis Neighborhood of Memphis, TN from $400 (106 Rentals)

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

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

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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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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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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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How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.

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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 $561. 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$561
Emberly Apartments1 Bedroom, 1 Bathroom1BR,1BA$598
Longview Heights2 Bed / 1 Bath2BR,1BA$616
Mill Creek Apartments1 Bedroom / 1 Bathroom1BR,1BA$648
1277 Airways Blvd2 Beds, 1 Baths2BR,1BA$650
2309 Warren St1 Beds, 1 Baths1BR,1BA$650
Creekside Meadows1 Bedroom 1 Bathroom1BR,1BA$667
Pinetree Place Apartments1 Bedroom Premium Remodel1BR,1BA$675
Bantam Springbrook ApartmentsStudioStudio,1BA$675
Graceland Pointe ApartmentsA11BR,1BA$680

Best Value Apartments for Rent in South Memphis, TN

As of June 21, 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 Platinum2BR,1.5BA$0.84
641 S Rembert St, Unit 641641 S Rembert St2BR,2BA$0.91
Sutton at Shelby2 Bedroom 1.5 Bathroom2BR,1.5BA$0.85
Highland Meadows Apartments2x1.5 9502BR,1.5BA$0.92
1011 S Willett St1011 S Willett St1BR,1BA$0.88
Longview Gardens2 Bedroom2BR,1BA$0.71
Longview Heights2 Bed / 1 Bath2BR,1BA$0.78
Mill Creek Apartments1 Bedroom / 1 Bathroom1BR,1BA$0.91

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

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 #21

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 515 Apartments for Rent in South Memphis, TN with pricing that ranges from $450 to $2,830. There are also 241 Single Family Homes for rent, Condos, and Townhome rentals currently available in South Memphis ranging from $495 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 $495 to $4,900 with an average monthly rent of $1,612.

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 $825 to $1,695, while Three Bedroom Homes, Condos, and Townhomes for rent range from $850 to $2,950. 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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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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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.

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The Local Memphis Experts Guide to Renting Near the Citys Top Employers

Written by: Joshua Carlucci

I'm Josh, your ApartmentHomeLiving.

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Memphis, Tennessee: A Local Experts 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.

Articles, How-To's, and Tips

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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.

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How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Written by: Robin Stewart

Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.

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Pet-Friendly Renting: Everything You Need to Know Before You Move

Written by: Christine Leonard, Esq.

For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.

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Creative Ways Developers Reimagine Retail Spaces as Residential Units

Written by: Robin Stewart

Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.