Cheap Apartments for Rent in the Walnut Grove Neighborhood of Memphis, TN from $400 (136 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Walnut Grove area of Memphis.

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property at 6705 Majestic Oak Pl

$1,350

Total Monthly Price

Total Monthly Price

Base Rent
$1,350
Total Monthly Price
$1,350

2 Bedroom, 2 Bath Condo for Rent

Available Now

6705 Majestic Oak Pl, Unit 6705

6705 Majestic Oak Pl
MemphisTN38120
property at 6761 Whitten Pine Dr

$1,395

Total Monthly Price

Total Monthly Price

Base Rent
$1,395
Total Monthly Price
$1,395

3 Bedroom, 2 Bath Townhome for Rent

Available Now

6761 Whitten Pine Dr

MemphisTN38134

Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

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Cherry Gardens
2 to 3 Bedroom Apartments

Cherry Gardens

4350 Dunn RdMemphis, TN 38111
  • Utilities Included
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Shady Oaks
1 Bedroom Apartments

Shady Oaks

520 Sharon DrMemphis, TN 38122

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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Walnut Grove, Memphis, TN Local Guide

Cheapest Available Walnut Grove Apartments for Rent

 

The cheapest available apartment rental in the Walnut Grove area of Memphis, TN is a Studio unit found at The Residences at Lakeview priced from $581. 3969 Southlawn Ave has the second lowest priced unit, which is a 1 Bed apartment currently listed from $650. Here are the most affordable Walnut Grove apartments for rent in Memphis, TN:

Apartment ListingModel NameBed/BathPriced From
The Residences at LakeviewStudioStudio,1BA$581
3969 Southlawn Ave1 Beds, 1 Baths1BR,1BA$650
Oak Grove Flats2BR2BR,1BA$667
Grahamwood Place1 bedroom 1 bathroom1BR,1BA$699
Summer Oaks Apartments4030 Summer2BR,1BA$750
The Trails at Mt. Moriah1 bed 1 bath1BR,1BA$750
Cherry Creek Apartments1 Bedroom, 1 Bath1BR,1BA$750
Graham Square Apartments2 Beds, 1 Baths2BR,1BA$825
SummerwoodOne1BR,1BA$825
The Brooklyn Memphis1 Bed 1 Bath Classic1BR,1BA$848

Best Value Apartments for Rent in Walnut Grove, TN

As of June 21, 2026 the best value apartment in the Walnut Grove area is the $1.09 price per square foot 2 Bedroom-2.5 Bath Model at Fairfax Manor Townhomes in the in the Germantown neighborhood starting from $1,465. The second greatest value Walnut Grove apartment is the Lennox Model at Poplar Place Townhomes starting at $1,299 with a $1.01 price per square foot in the Germantown neighborhood. Here is today’s list of the best values for Walnut Grove apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Fairfax Manor Townhomes2 Bedroom-2.5 Bath2BR,2.5BA$1.09
Poplar Place TownhomesLennox2BR,1.5BA$1.01
Legacy on Lynnfield - NEWLY UPGRADED2x22BR,2BA$1.18
Oak Grove Flats3BR3BR,1.5BA$0.94
Mendenhall Gardens2B Duplex2BR,2BA$1.17
Summer Oaks Apartments4030 Summer2BR,1BA$0.81
Macon Manor2 Bedroom 1 Bathroom2BR,1BA$1.15
Graham Square Apartments2 Beds, 1 Baths2BR,1BA$0.97
Crossings at Fox Meadows1 Bedroom, 1 Bathroom1BR,1BA$1.07
Grahamwood Place1 bedroom 1 bathroom1BR,1BA$0.93

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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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
Walnut Grove, Memphis, TN

Ranked #25

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

Pet Friendliness Lifestyle Score

3.5
Pet Friendly

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Lifestyle Ratings

Our team works hard to bring you comprehensive Lifestyle Ratings of rentals and neighborhoods across the USA, and customized analysis for East Memphis, TN. Our Lifestyle Ratings help you zero-in on the perfect place to call home. This takes in many factors including our Star Ratings to compare for outdoor amenities like tennis courts, luxury amenities, kid and pet-friendly communities, availability of transit options, and much more. Use Lifestyle Search in the site filter options on this page - and find your Perfect place!

Frequently Asked Questions about Cheap Walnut Grove Apartments

What is a cheap apartment in Walnut Grove?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Walnut Grove is under $848.

What is the price of a cheap apartment in Walnut Grove?

The cheapest apartment in Walnut Grove is 3969 Southlawn Ave which is listed at $650, while the average apartment in Walnut Grove costs $1,620.

What types of apartments are the cheapest in Walnut Grove?

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 12 regular apartments in Walnut Grove 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 Walnut Grove?

Cheap apartments in Walnut Grove have an average cost of $341 which is $1,279 cheaper than the average rent for all rentals in Walnut Grove.

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.

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