Cheap Homes for Rent in Walnut Grove Neighborhood of Memphis, TN from $600 (84 Rentals)

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Search the lowest-cost Homes 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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property at 4167 Cochese Rd

$1,225

Total Monthly Price

Total Monthly Price

Base Rent
$1,225
Total Monthly Price
$1,225

3 Bedroom, 1 Bath Home for Rent

Available Now

4167 Cochese Rd

MemphisTN38118
property at 514 Western Dr

$1,245

Total Monthly Price

Total Monthly Price

Base Rent
$1,245
Total Monthly Price
$1,245

2 Bedroom, 1 Bath Home for Rent

Available Now

514 Western Dr

MemphisTN38122

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

Moving to the Bluff City? Get the insider’s guide on Memphis life, from specific neighborhood personalities and current average rent, to the best barbecue and live music spots.

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Showing Results 1-50, Page 1 of 2

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
3969 Southlawn Ave1 Beds, 1 Baths1BR,1BA$695
Grahamwood Place1 bedroom 1 bathroom1BR,1BA$699
The Trails at Mt. Moriah1 bed 1 bath F1BR,1BA$699
Summer Oaks Apartments4030 Summer2BR,1BA$750
Cherry Creek Apartments1 Bedroom, 1 Bath1BR,1BA$750
The Brooklyn Memphis1 Bed 1 Bath Classic1BR,1BA$818
Graham Square Apartments2 Beds, 1 Baths2BR,1BA$825
Hickory GrovePecan1BR,1BA$850

Best Value Apartments for Rent in Walnut Grove, TN

As of June 05, 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 The Overton Model at MAA Park Estate starting at $1,513 with a $1.16 price per square foot in the East Memphis 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
MAA Park EstateThe Overton2BR,2BA$1.16
Poplar Place TownhomesLennox2BR,1.5BA$1.01
Oak Grove Flats3BR3BR,1.5BA$0.94
Summer Oaks Apartments4030 Summer2BR,1BA$0.81
Graham Square Apartments2 Beds, 1 Baths2BR,1BA$0.97
Macon Manor2 Bedroom 1 Bathroom2BR,1BA$1.15
Crossings at Fox Meadows1 Bedroom, 1 Bathroom1BR,1BA$1.07
Mendenhall Gardens1A1BR,1BA$1.12
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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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 #30

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

Pet Friendliness Lifestyle Score

3.5
Pet Friendly

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Frequently Asked Questions about Walnut Grove

What type of rentals are currently available in Walnut Grove?

There are currently 101 Apartments for Rent in Walnut Grove, TN with pricing that ranges from $581 to $3,789. There are also 227 Single Family Homes for rent, Condos, and Townhome rentals currently available in Walnut Grove ranging from $600 to $6,999.

What is the current price range for Rental Homes in Walnut Grove?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Walnut Grove ranges from $600 to $6,999 with an average monthly rent of $2,614.

How much are larger Three and Four Bedroom Rentals in Walnut Grove?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Walnut Grove range from $875 to $3,789, while Three Bedroom Homes, Condos, and Townhomes for rent range from $995 to $2,950. Four Bedroom Single-Family rentals are also available starting from $1,195 and Four Bedroom Apartments start at $1,440.

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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