Cheap Apartments for Rent in the Walnut Grove Neighborhood of Memphis, TN from $450 (108 Rentals)

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

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

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property at 2786 Mojave Pl
$1,000

Total Monthly Price

Base Rent$1,000
Total Monthly Price$1,000
2 Bedroom, 2 Bath Condo for Rent
Available Now
Affordability

2786 Mojave Pl, Unit #2

2786 Mojave Pl
MemphisTN38115
  • Smoke Free
property at 5654 San Mateo
$1,100

Total Monthly Price

Base Rent$1,100
Total Monthly Price$1,100
2 Bedroom, 2 Bath Condo for Rent
Available Now
Affordability

5654 San Mateo, Unit San Mateo

5654 San Mateo
MemphisTN38115
  • Smoke Free

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 1710 Kirby Pky
$1,200

Total Monthly Price

Base Rent$1,200
Total Monthly Price$1,200
1 Bedroom, 1 Bath Townhome for Rent
Available Now
Affordability

1710 Kirby Pky

MemphisTN38120
property at 6761 Whitten Pine Dr
$1,295

Total Monthly Price

Base Rent$1,295
Total Monthly Price$1,295
3 Bedroom, 2 Bath Townhome for Rent
Available Now
Affordability

6761 Whitten Pine Dr

MemphisTN38134

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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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
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Elite Living Residence
Studio Apartments

Elite Living Residence

5225 Summer AveMemphis, TN 38122
Corporate Housing
  • Utilities Included
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Camelot Manor
1 to 3 Bedroom Apartments

Camelot Manor

3151 Ashwood StMemphis, TN 38118
  • Utilities Included
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The Embassy Apartments
Studio to 3 Bedroom Apartments

The Embassy Apartments

505 S Perkins RdMemphis, TN 38117
  • Utilities Included

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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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. Grahamwood Place has the second lowest priced unit, which is a 1 Bed apartment currently listed from $699. Here are the most affordable Walnut Grove apartments for rent in Memphis, TN:

Apartment ListingModel NameBed/BathPriced From
The Residences at LakeviewStudioStudio, 1BA$581
Grahamwood Place1 bedroom 1 bathroom1BR, 1BA$699
Cherry Creek Apartments1 Bedroom, 1 Bath1BR, 1BA$750
Hickory GrovePecan1BR, 1BA$750
SummerwoodOne1BR, 1BA$750
The Trails at Mt. Moriah1 bed 1 bath C1BR, 1BA$780
Mendenhall Gardens1A1BR, 1BA$799
Park Place at Shelby Farms1Bd/1Ba Classic1BR, 1BA$800
Hickory PointeOne Bedroom1BR, 1BA$850
Graham Square Apartments2 Beds, 1 Baths2BR, 1BA$850

Best Value Apartments for Rent in Walnut Grove, TN

As of September 22, 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 Germantown neighborhood starting from $1,465. The second greatest value Walnut Grove apartment is the The Overton Model at MAA Park Estate in the East Memphis neighborhood starting at $1,483 with a $1.14 price per square foot. 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
MAA Park EstateThe Overton2BR, 2BA$1.14
Poplar Place TownhomesLennox2BR, 1.5BA$1.01
Cedar RidgeCE2B2B2BR, 2BA$1.05
Crossings at Fox Meadows2 Bedroom, 1 Bathroom2BR, 1BA$1.02
Courtyard @ Waring Park2 Bedroom, 1 Bathroom2BR, 1BA$0.99
Courtyard @ The Flats2 Bedroom, 1 Bathroom2BR, 1BA$1.12
Oak Grove Flats2BR2BR, 1BA$1.05
Graham Square Apartments2 Beds, 1 Baths2BR, 1BA$1.00
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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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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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
Walnut Grove, 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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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 $850.

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

The cheapest apartment in Walnut Grove is The Residences at Lakeview which is listed at $635, while the average apartment in Walnut Grove costs $1,099.

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 15 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 $378 which is $721 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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