Cheap Apartments for Rent in the Walnut Grove Neighborhood of Memphis, TN from $400 (128 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Walnut Grove 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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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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property at 4167 Cochese Rd

$1,275

Total Monthly Price

Total Monthly Price

Base Rent
$1,275
Total Monthly Price
$1,275

3 Bedroom, 1 Bath Home for Rent

Available Now

4167 Cochese Rd

MemphisTN38118

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

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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Showing Results 1-50, Page 1 of 3

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. Oak Grove Flats has the second lowest priced unit, which is a 2 Beds apartment currently listed from $667. Here are the most affordable Walnut Grove apartments for rent in Memphis, TN:

Apartment ListingModel NameBed/BathPriced From
The Residences at LakeviewStudioStudio,1BA$581
Oak Grove Flats2BR2BR,1BA$667
The Trails at Mt. Moriah1 bed 1 bath F1BR,1BA$699
Grahamwood Place1 bedroom 1 bathroom1BR,1BA$699
Summer Oaks Apartments4030 Summer2BR,1BA$750
Cherry Creek Apartments1 Bedroom, 1 Bath1BR,1BA$750
Courtyard @ Waring Park2 Bedroom, 1 Bathroom2BR,1BA$775
The Brooklyn Memphis1 Bed 1 Bath Classic1BR,1BA$816
Macon Manor1 Bedroom 1 Bathroom1BR,1BA$825
Hickory PointeOne Bedroom1BR,1BA$850

Best Value Apartments for Rent in Walnut Grove, TN

As of May 06, 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
Cordova CreekB12BR,1BA$1.18
Oak Grove Flats3BR3BR,1.5BA$0.94
Summer Oaks Apartments4030 Summer2BR,1BA$0.81
Crossings at Fox Meadows1 Bedroom, 1 Bathroom1BR,1BA$1.07
Mendenhall Gardens1A1BR,1BA$1.12
Hickory Grove1 Bedroom, 1 Bathroom1BR,1BA$1.21
Grahamwood Place1 bedroom 1 bathroom1BR,1BA$0.93
Courtyard @ Waring Park2 Bedroom, 1 Bathroom2BR,1BA$1.11

A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back

Learn the property manager's true secrets to a zero-deduction move-out. Use this step-by-step guide on documentation, cleaning, and lease-reading to reclaim your security deposit.

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10 Hidden Costs of Renting You Should Budget for Before Signing a Lease

Avoid financial stress when renting. Learn about the 10 most common hidden costs—from pet fees to utilities—you must budget for before you sign a lease.

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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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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.

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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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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 #29

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 the Cheapest Studio apartment in Walnut Grove?

Currently the most affordable Cheap Studio Apartment in Walnut Grove is at The Residences at Lakeview listed at $581.

How much is rent for a Cheap One Bedroom Walnut Grove Apartment?

The lowest price for a Cheap One Bedroom Walnut Grove Apartment is $699 at The Trails at Mt. Moriah.

What is the lowest price for a Cheap Two Bedroom Walnut Grove Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Walnut Grove is starting from $667 at Oak Grove Flats.

What is the most affordable Walnut Grove Three Bedroom Apartment?

The best deal on a cheap Walnut Grove Three Bedroom Apartment rental is at Cherry Creek Apartments and starts from $875.

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.

Articles, How-To's, and Tips

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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.

decorative image for A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back article

A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back

Written by: Lauren Harrington

I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.

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Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts

Written by: Lauren Harrington

This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

decorative image for What Does “Rent Burdened” Mean? How Much Rent Is Too Much article

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

Written by: Lauren Harrington

This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.