Cheap Apartments for Rent in Shelby County, TN from $300 (588 Rentals)

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Search the lowest-cost Apartments available for rent right now in Shelby County.

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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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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Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

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Cheapest Available Shelby County Apartments for Rent

 

The cheapest available apartment rental in Shelby County, TN is a 1 Bed unit found at 165 N Merton in the East Memphis neighborhood priced from $550. The Residences at Lakeview in the Oakhaven neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $581. Here is today’s list of the most affordable Shelby County apartments for rent:

Apartment ListingModel NameBed/BathPriced From
165 N Merton1BR/1.0BA1BR,1BA$550
The Residences at LakeviewStudioStudio,1BA$581
Creekside Meadows1 Bedroom 1 Bathroom1BR,1BA$586
El Dorado1 Bedroom1BR,1BA$587
Longview Gardens2 Bedroom2BR,1BA$595
Emerald Ridge1 bedroom 1 bathroom1BR,1BA$599
Yugo Memphis Southern4 Bed, 4 Bath Classic4BR,4BA$599
Monarch on HighlandMHLA11BR,1BA$600
Longview Heights2 Bed / 1 Bath2BR,1BA$619
Pinetree Place Apartments2 Bedroom Basic Remodel2BR,1BA$625

Best Value Apartments for Rent in Shelby County, TN

As of April 14, 2026 the best value apartment in the Shelby County area is the $0.36 price per square foot Private Room Model at 1791 Whitman Rd in the in the South Memphis neighborhood starting from $800. The second greatest value Shelby County apartment is the Entire home 4 Bedrooms 4 Baths Model at Student Lofts at Brister starting at $695 with a $0.38 price per square foot in the East Memphis neighborhood. Here is today’s list of the best values for Shelby County apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
1791 Whitman RdPrivate Room5BR,1BA$0.36
Student Lofts at BristerEntire home 4 Bedrooms 4 Baths1BR,1BA$0.38
Sunridge Townhomes3 Bed 2.5 Bath3BR,2.5BA$0.69
Emerald Square4 bedroom 2.5 bathroom4BR,2.5BA$0.75
Emerald Pointe3 bedroom 2.5 bathroom3BR,2.5BA$0.70
Lexington Apartments22T502BR,2BA$0.73
Shadowbrook Townhomes2 Bedroom w/ Den2BR,1.5BA$0.69
Valley ForgeTwo Bedroom2BR,1BA$0.80
Longview Heights2 Bed / 1 Bath2BR,1BA$0.79
Longview Gardens2 Bedroom2BR,1BA$0.76

Frequently Asked Questions about Cheap Shelby County Apartments

What is a cheap apartment in Shelby County?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Shelby County is under $625.

What is the price of a cheap apartment in Shelby County?

The cheapest apartment in Shelby County is 165 N Merton which is listed at $550, while the average apartment in Shelby County costs $2,215.

What types of apartments are the cheapest in Shelby County?

Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 491 regular apartments in Shelby County that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

How do the prices of cheap apartments compare to the average apartment in Shelby County?

Cheap apartments in Shelby County have an average cost of $203 which is $2,012 cheaper than the average rent for all rentals in Shelby County.

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

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.

decorative image for Maximizing Your Refund: Essential Tax Tips for Renters article

Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.

decorative image for 18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property article

18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

Written by: Lauren Harrington

Renting your next home can feel thrilling and overwhelming at the same time.

decorative image for A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment article

A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment

Written by: Bob Mallory

Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.