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Cheap Apartments for Rent in the University District Memphis, TN from $300 (12 Rentals)
Search the lowest-cost Apartments available for rent right now in the University District area of Memphis.
2922 Hale Ave
MemphisTN38112
3381 Walnut Grove Rd
MemphisTN38111
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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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3042 McAdoo Ave
MemphisTN38112
2917 Yale Ave
MemphisTN38112
3336 Southern Ave
MemphisTN38111
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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University District, Memphis, TN Local Guide
How much does it cost to rent an apartment in University District?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| University District Studio Apartments | $1,161 | $1,015 | $1,259 |
| University District 1 Bedroom Apartments | $1,120 | $750 | $1,556 |
| University District 2 Bedroom Apartments | $1,314 | $750 | $1,864 |
| University District 3 Bedroom Apartments | $1,560 | $759 | $2,400 |
| University District 4 Bedroom Apartments | $1,318 | $599 | $1,775 |
Browse Apartments in this Neighborhood
There are currently 12 rentals with your search options within a 1 mile radius of the University District Neighborhood of Memphis, TN.
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University District, Memphis, TN Local Guide
- Nearby Memphis neighborhoods
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Cheapest Available University District Apartments for Rent
The cheapest available apartment rental in the University District area of Memphis, TN is a 4 Beds unit found at Yugo Memphis Southern priced from $599. Den Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $895. Here are the most affordable University District apartments for rent in Memphis, TN:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Yugo Memphis Southern | 4 Bed, 4 Bath Classic | 4BR,4BA | $599 |
| Den Apartments | 1 BR | 1BR,1BA | $895 |
| Monarch on Highland | MHLA1 | 1BR,1BA | $999 |
| Element Apartments at Highland | Studio | Studio,1BA | $1,015 |
| The Tower at Kent | 1 Bedroom / 1 Bathroom Silver | 1BR,1BA | $1,015 |
Best Value Apartments for Rent in University District, TN
As of December 05, 2025 the best value apartment in the University District area is the $2.08 price per square foot 2-G TYPE B 60% BDC Model at Tillman Cove in the in the East Memphis neighborhood starting from $1,850. The second greatest value University District apartment is the Goji 1x1 Townhome Model at Kiwi Goji starting at $1,433 with a $1.80 price per square foot in the East Memphis neighborhood. Here is today’s list of the best values for University District apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Tillman Cove | 2-G TYPE B 60% BDC | 2BR,2BA | $2.08 |
| Kiwi Goji | Goji 1x1 Townhome | 1BR,1BA | $1.80 |
| Yugo Memphis Southern | 2 Bed, 2 Bath Plus | 2BR,2BA | $1.14 |
| Greenline Apartments | 1 Bedroom 1 Bathroom | 1BR,1BA | $1.42 |
| The Tower at Kent | 1 Bedroom / 1 Bathroom Platinum | 1BR,1BA | $1.63 |
| Den Apartments | 1 BR | 1BR,1BA | $1.63 |
| Highland Row | Hines | Studio ,1BA | $2.28 |
| The Annex of Memphis | Studio | Studio ,1BA | $2.19 |
| Monarch on Highland | MHLA1 | 1BR,1BA | $2.54 |
| Element Apartments at Highland | Studio | Studio ,1BA | $2.79 |
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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Pet Friendly LifestyleUniversity District, Memphis, TN
Ranked #55
Among cities in Tennessee for Apartment listings with Pet Friendly Amenities.
Pet Friendliness Lifestyle Score
2.5Pet Friendly
Frequently Asked Questions about Cheap University District Apartments
What is a cheap apartment in University District?
A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in University District is under $1,360.
What is the price of a cheap apartment in University District?
The cheapest apartment in University District is Den Apartments which is listed at $895, while the average apartment in University District costs $1,511.
What types of apartments are the cheapest in University District?
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 30 regular apartments in University District 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 University District?
Cheap apartments in University District have an average cost of $835 which is $676 cheaper than the average rent for all rentals in University District.
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.
Affordable Memphis: The Best Lower Priced Neighborhoods with Character
Written by: Joshua Carlucci
I’m Josh, your ApartmentHomeLiving.com Local Expert for Memphis.
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.
Apartment Common Area Rules: What Renters Need to Know
Written by: Christine Leonard, Esq.
Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.
How to Negotiate Your Apartment Lease and Save Money
Written by: Christine Leonard, Esq.
Everything is a negotiation in real estate!