Cheap Apartments for Rent in the Walnut Grove Neighborhood of Memphis, TN from $400 (73 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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Affordable Memphis: The Best Neighborhoods with Character and Lower Rents

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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

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 Embassy Apartments
Studio to 3 Bedroom Apartments

The Embassy Apartments

505 S Perkins RdMemphis, TN 38117
  • 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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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 1 Bed unit found at 4015 Summer Ave priced from $550. The Residences at Lakeview has the second lowest priced unit, which is a Studio apartment currently listed from $581. Here are the most affordable Walnut Grove apartments for rent in Memphis, TN:

Apartment ListingModel NameBed/BathPriced From
4015 Summer AveOne1BR,1BA$550
The Residences at LakeviewStudioStudio,1BA$581
Oak Grove Flats2BR2BR,1BA$667
Grahamwood Place-New1 bedroom 1 bathroom1BR,1BA$699
The Trails at Mt. Moriah1 bed 1 bath F1BR,1BA$700
Summer Oaks Apartments4030 Summer2BR,1BA$750
Cherry Creek Apartments1 Bedroom, 1 Bath1BR,1BA$775
The Brooklyn Memphis1 Bed 1 Bath Classic1BR,1BA$850
Hickory PointeOne Bedroom1BR,1BA$850
Hickory Grove1 Bedroom, 1 Bathroom1BR,1BA$870

Best Value Apartments for Rent in Walnut Grove, TN

As of December 12, 2025 the best value apartment in the Walnut Grove area is the $1.09 price per square foot 4 Bedroom Gar Model at Fairfax Manor Townhomes in the in the Germantown neighborhood starting from $1,800. The second greatest value Walnut Grove apartment is the c1 Model at The Garden District Apartments starting at $1,824 with a $1.14 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 Townhomes4 Bedroom Gar4BR,3BA$1.09
The Garden District Apartmentsc13BR,2.5BA$1.14
Poplar Place TownhomesDupree2BR,1.5BA$1.07
Oak Grove Flats3BR3BR,1.5BA$0.94
The SummereastB32BR,2BA$1.11
Summer Oaks Apartments4030 Summer2BR,1BA$0.81
Macon Manor2 Bedroom 1 Bathroom2BR,1BA$1.15
Crossings at Fox Meadows1 Bedroom, 1 Bathroom1BR,1BA$1.10
Grahamwood Place-New1 bedroom 1 bathroom1BR,1BA$0.93
4015 Summer AveOne1BR,1BA$0.88

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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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 #24

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 $550 at 4015 Summer Ave.

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 $895.

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.

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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.

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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.

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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate!