Cheap Homes for Rent in Walnut Grove Neighborhood of Memphis, TN from $600 (62 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
to
By AmenitiesDone
By Community TypeDone
Features and AvailabilityDone
Done

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.

Read Article

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.

Read Article

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.

Read Article
property at 4801 Given Ave

4801 Given Ave

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.

Read Article

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.

Read Article
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 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
The Trails at Mt. Moriah1 bed 1 bath C1BR,1BA$675
Grahamwood Place-New1 bedroom 1 bathroom1BR,1BA$699
Camelot Manor1 Bed, 1 bath1BR,1BA$725
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

Best Value Apartments for Rent in Walnut Grove, TN

As of December 06, 2025 the best value apartment in the Walnut Grove area is the $1.10 price per square foot c1 Model at The Garden District Apartments in the in the Germantown neighborhood starting from $1,764. The second greatest value Walnut Grove apartment is the The Overton Model at MAA Park Estate starting at $1,488 with a $1.14 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$1.10
MAA Park EstateThe Overton2BR,2BA$1.14
Poplar Place TownhomesDupree2BR,1.5BA$1.07
Oak Grove Flats3BR3BR,1.5BA$0.94
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
Camelot Manor1 Bed, 1 bath1BR,1BA$1.12
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!

Read Article
Decorative image

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.

Read Article
Decorative image

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.

Read Article
Decorative image

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.

decorative image of people with a giant lease agreement

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

decorative image of woman handing cat to small boy

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 253 Single Family Homes for rent, Condos, and Townhome rentals currently available in Walnut Grove ranging from $650 to $5,500.

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 $5,500 with an average monthly rent of $2,064.

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 $3,218, while Three Bedroom Homes, Condos, and Townhomes for rent range from $925 to $2,950. Four Bedroom Single-Family rentals are also available starting from $1,050 and Four Bedroom Apartments start at $1,800.

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.

decorative image for Affordable Memphis: The Best Lower Priced Neighborhoods with Character article

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 Renting with Roommates: Realistic Expectations for Shared Lease article

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.

decorative image for Apartment Common Area Rules: What Renters Need to Know article

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.

decorative image for How to Negotiate Your Apartment Lease and Save Money article

How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate!