Cheap Apartments for Rent in Shelby County, TN from $300 (628 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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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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Renters Insurance 101: What It Is, What It Covers, and Why You Need It

From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

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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 Watkins Manor in the Frayser neighborhood priced from $350. El Dorado in the East Memphis neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $545. Here is today’s list of the most affordable Shelby County apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Watkins Manor1 Bed, 1 bath1BR,1BA$350
El Dorado1 Bedroom1BR,1BA$545
165 N Merton1BR/1.0BA1BR,1BA$550
Longview Gardens2 Bedroom2BR,1BA$576
The Residences at LakeviewStudioStudio,1BA$581
Monarch on HighlandMHLA11BR,1BA$600
Longview Heights2 Bed / 1 Bath2BR,1BA$618
288 Leath St1 Beds, 1 Baths1BR,1BA$625
Pinebrook Pointe1 Bedroom 1 bathroom1BR,1BA$626
The Pulse ApartmentsStudio 1 BathroomStudio,1BA$634

Best Value Apartments for Rent in Shelby County, TN

As of July 15, 2026 the best value apartment in the Shelby County area is the $0.51 price per square foot 4 Beds, 2 Baths Model at 378 N Highland St in the in the East Memphis neighborhood starting from $1,550. The second greatest value Shelby County apartment is the 4 Bed, 3 Bath Model at Sunridge Townhomes starting at $1,545 with a $0.74 price per square foot in the Raleigh 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.
378 N Highland St4 Beds, 2 Baths4BR,2BA$0.51
Sunridge Townhomes4 Bed, 3 Bath4BR,3BA$0.74
Student Lofts at BristerEntire home 4 Bedrooms 4 Baths(SHARED HOUSING1BR,1BA$0.38
Village of Sycamore Ridge3brTH 2.5ba3BR,2.5BA$0.73
Raleigh Court Townhomes3 bedroom 1 1/2 bath3BR,1.5BA$0.77
Emerald Pointe3 bedroom 2.5 bathroom3BR,2.5BA$0.70
High Point Apartments3 Bedroom 2 Bathroom3BR,2BA$0.67
Shadowbrook Townhomes2 Bedroom w/ Den2BR,1.5BA$0.69
Longview Gardens2 Bedroom2BR,1BA$0.73
Watkins Manor1 Bed, 1 bath1BR,1BA$0.61

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 $634.

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

The cheapest apartment in Shelby County is Watkins Manor which is listed at $350, while the average apartment in Shelby County costs $1,740.

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 461 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 $213 which is $1,527 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 Renters Insurance 101: What It Is, What It Covers, and Why You Need It article

Renters Insurance 101: What It Is, What It Covers, and Why You Need It

Written by: Robin Stewart

Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.

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Apartment Occupancy Rates: Renter Attraction vs Renter Retention

Written by: Robin Stewart

There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.

decorative image for How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide article

How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Written by: Robin Stewart

Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.

decorative image for Pet-Friendly Renting: Everything You Need to Know Before You Move article

Pet-Friendly Renting: Everything You Need to Know Before You Move

Written by: Christine Leonard, Esq.

For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.