Cheap Homes for Rent in Walnut Grove Neighborhood of Memphis, TN from $600 (38 Rentals)

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

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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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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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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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 Trails at Mt. Moriah has the second lowest priced unit, which is a 1 Bed apartment currently listed from $560. Here are the most affordable Walnut Grove apartments for rent in Memphis, TN:

Apartment ListingModel NameBed/BathPriced From
4015 Summer AveOne1BR,1BA$550
The Trails at Mt. Moriah1 bed 1 bath1BR,1BA$560
The Residences at LakeviewStudioStudio,1BA$581
Elite Living ResidenceStudioStudio,1BA$650
Oak Grove Flats2BR2BR,1BA$667
Grahamwood Place-New1 bedroom 1 bathroom1BR,1BA$699
Summer Oaks Apartments4030 Summer2BR,1BA$750
Camelot Manor1 Bed, 1 bath1BR,1BA$799
Cherry Creek Apartments2 Bedroom, 1 Bath2BR,1BA$815
Macon Manor1 Bedroom 1 Bathroom1BR,1BA$825

Best Value Apartments for Rent in Walnut Grove, TN

As of October 21, 2025 the best value apartment in the Walnut Grove area is the $1.16 price per square foot c1 Model at The Garden District Apartments in the in the Germantown neighborhood starting from $1,857. The second greatest value Walnut Grove apartment is the The Overton Model at MAA Park Estate starting at $1,443 with a $1.11 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.
The Garden District Apartmentsc13BR,2.5BA$1.16
MAA Park EstateThe Overton2BR,2BA$1.11
Poplar Place TownhomesDupree2BR,1.5BA$1.07
Summer Oaks Apartments4030 Summer2BR,1BA$0.81
Oak Grove Flats2BR2BR,1BA$0.78
Crossings at Fox Meadows1 Bedroom, 1 Bathroom1BR,1BA$1.10
Grahamwood Place-New1 bedroom 1 bathroom1BR,1BA$0.93
Cherry Creek Apartments2 Bedroom, 1 Bath2BR,1BA$1.09
Courtyard @ Waring Park2x1 (700)2BR,1BA$1.11
4015 Summer AveOne1BR,1BA$0.88

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 #25

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

Pet Friendliness Lifestyle Score

4.0
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 98 Apartments for Rent in Walnut Grove, TN with pricing that ranges from $550 to $3,745. There are also 272 Single Family Homes for rent, Condos, and Townhome rentals currently available in Walnut Grove ranging from $650 to $6,000.

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 $650 to $6,000 with an average monthly rent of $2,157.

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 $815 to $3,223, while Three Bedroom Homes, Condos, and Townhomes for rent range from $875 to $2,985. Four Bedroom Single-Family rentals are also available starting from $1,125 and Four Bedroom Apartments start at $1,575.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

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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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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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate! 

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The Rental Move-In Inspection Checklist: A Guide for Renters

Written by: Trey Huguley

The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.

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Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Written by: Christine Leonard, Esq.

For many people, obstacles can arise during the rental application process for a variety of issues.