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apartments under 500
Last updated February 21 2020 at 2:42 PM

26 Apartments under $500 for rent in Memphis, TN

Verified
Last updated February 21 at 01:27pm
Concerned Citizens Network System, Inc
10 Units Available
Longview Heights Apartments
1953 Philsar St, Memphis, TN
2 Bedrooms
$480
788 sqft
Longview Heights in Memphis, TN is a remarkable community to live. We're conveniently located on Philsar St. in the 38106 area of Memphis. Here at our community, our leasing staff will be happy to assist you in finding the perfect new place.
Verified
Last updated February 21 at 01:27pm
8 Units Available
El Dorado
2743 Ketchum Road, Memphis, TN
1 Bedroom
$500
573 sqft
2 Bedrooms
$550
728 sqft
El Dorado invites you to live life on your own terms. Our community offers many advantages over the competition. El Dorado provides one of the most desirable and affordable communities in Memphis, TN.
Verified
Last updated February 21 at 01:27pm
19 Units Available
Bent Tree Apartments
3471 W Briarpark Dr, Memphis, TN
1 Bedroom
$445
645 sqft
2 Bedrooms
$495
1048 sqft
3 Bedrooms
$625
1109 sqft
Bent Tree Apartments in Memphis has it all. Within your new apartment, you will discover a diverse offering of high-quality amenities, which will enhance your lifestyle through convenience and efficiency they provide.
Verified
Last updated February 21 at 12:07pm
Parkway Village
39 Units Available
Ten Mile Creek
2718 Claudette Rd, Memphis, TN
1 Bedroom
$455
750 sqft
2 Bedrooms
$525
1005 sqft
3 Bedrooms
$610
1434 sqft
At Ten Mile Creek there is a perfect home waiting for you. We offer spacious one, two and three bedroom apartments with walk-in closets, ceiling fans, washer/dryer hook ups, window coverings, intrusion alarms and upgraded countertops.
Verified
Last updated February 21 at 01:27pm
Concerned Citizens Network System, Inc
9 Units Available
Longview Gardens
1726 S Orleans St, Memphis, TN
2 Bedrooms
$475
788 sqft
Come see us today!! Discover the thrill, excitement and glee of living in Longview Gardens Apartments. Longview Gardens is located in the South Memphis area just 5 minutes south of Downtown Memphis.
Last updated February 21 at 10:38am
Riverside
1 Unit Available
122 Kirk Ave.
122 Kirk Avenue, Memphis, TN
2 Bedrooms
$450
700 sqft
122 Kirk Ave. - Duplex Available For Rent + Turn Key Ready + Call For Showings+ $0 APPLICATON FEE - This 2 bedrooms 1 bath duplex located in Memphis is now available for rent. Spacious living room area. Tile flooring throughout.
Last updated February 21 at 10:38am
Castalia
1 Unit Available
2314 Brooklyn Ave
2314 Brooklyn Avenue, Memphis, TN
2 Bedrooms
$500
1109 sqft
OWNER FINANCE WITH 10% DOWN/Direct EZ Credit Check Loan - 2314 Brooklyn St, Memphis, TN 38114 FOR SALE ONLY WITH OWNER FINANCING - VERY AFFORDABLE 2 beds 2 baths 1,109 sqft house for sale with low down payment and no credit check loan.
Last updated February 21 at 08:32am
Washington Heights
1 Unit Available
700 E Mclemore Ave
700 East Mclemore Avenue, Memphis, TN
2 Bedrooms
$450
712 sqft
Find studio, 1, 2 and 3 bedroom apartments for rent at 700 E Mclemore Ave in Memphis. View photos, descriptions and more!
Last updated February 21 at 08:32am
Sixty Point One Ward
1 Unit Available
1005 Palermo Ave
1005 Palermo Avenue, Memphis, TN
2 Bedrooms
$495
828 sqft
Please call Ashley at 901-443-4548 to schedule a showing. All applications can be submitted through www.pragerpm.com and reviewed same day. Credit score 550+. NO evictions in the last seven years.
Last updated February 21 at 02:16pm
Hyde Park
1 Unit Available
2086 Hubert Avenue
2086 Hubert Avenue, Memphis, TN
2 Bedrooms
$450
700 sqft
Available for Rental Only- $450- Security Deposit & $450- 1st Month's Rent Required @ Lease Signing - This charming apartment offers 2 bedrooms, 1 full bathroom, spacious family room with hardwood floors, kitchen with eating area & parking lot.
Last updated February 21 at 01:48pm
Orange Mound
1 Unit Available
2682 Carnes Ave
2682 Carnes Avenue, Memphis, TN
2 Bedrooms
$500
610 sqft
This home has 2 bedrooms and 1 bathroom built in 1955. Just 3 minutes drive to Melrose High School, Dunbar Elementary School.Nearby Brentwood Park, Hospitals, Health Centers, Fitness Centers, Grocery shopping stores, restaurants and Churches.
Last updated February 21 at 01:48pm
South Memphis Citizens United for Action
1 Unit Available
651 E Mclemore Ave Apt 2
651 East Mclemore Avenue, Memphis, TN
2 Bedrooms
$375
731 sqft
Find studio, 1, 2 and 3 bedroom apartments for rent at 651 E Mclemore Ave Apt 2 in Memphis. View photos, descriptions and more!
Last updated February 21 at 01:48pm
Klondyke
1 Unit Available
841 Leon Pl
841 Leon Place, Memphis, TN
2 Bedrooms
$460
732 sqft
gas freestanding heater gas water heater
Last updated February 21 at 01:48pm
1 Unit Available
1030 Patton St Apt 1
1030 Patton Street, Memphis, TN
2 Bedrooms
$350
600 sqft
Find studio, 1, 2 and 3 bedroom apartments for rent at 1030 Patton St Apt 1 in Memphis. View photos, descriptions and more!
Last updated February 21 at 02:21pm
1 Unit Available
1283 E Raines Road - #3
1283 East Raines Road, Memphis, TN
2 Bedrooms
$500
950 sqft
Ground floor unit adjacent to laundry/exercise room. Great location. Perfect location in Whitehaven. On the bus line and close to everything including Elvis Presley Drive, Graceland, Schools and Hospital. Property has gated entry.
Last updated February 21 at 01:48pm
Orange Mound
1 Unit Available
756 Marianna St
756 Marianna Street, Memphis, TN
1 Bedroom
$410
500 sqft
Find studio, 1, 2 and 3 bedroom apartments for rent at 756 Marianna St in Memphis. View photos, descriptions and more!
Last updated February 21 at 01:48pm
Orange Mound
1 Unit Available
754 Marianna St
754 Marianna Street, Memphis, TN
1 Bedroom
$410
520 sqft
Find studio, 1, 2 and 3 bedroom apartments for rent at 754 Marianna St in Memphis. View photos, descriptions and more!
Last updated February 21 at 01:48pm
Hyde Park
1 Unit Available
1111 Springdale St
1111 Springdale Street, Memphis, TN
Studio
$360
3200 sqft
2 Bedrooms
Ask
Great looking commercial property, perfect for a small business. Abundant street frontage.
Last updated February 21 at 01:48pm
Orange Mound
1 Unit Available
1117 Keating St
1117 Keating Street, Memphis, TN
2 Bedrooms
$475
687 sqft
A 2 bedroom house with 1 bathroom. Built in 1931 with a total area of 687 sqft. This property comes with hardwood floors, ceiling fan, new interior wall paint. Just a minute away from Park Ave where there are lots of commercial establishments.
Last updated February 21 at 01:48pm
Binghampton-Lester
1 Unit Available
683 Tillman St
683 Tillman Street, Memphis, TN
1 Bedroom
$475
525 sqft
A stunning 1 bedrooms with 1 bathroom home . This comes with a covered front porch, large front & backyard, fire place in dining area, spacious living area, eat-in-kitchen, laundry closet, large master bedroom with private master bathroom.
Last updated February 21 at 02:21pm
1 Unit Available
1033 Whitaker #4
1033 Whitaker Drive, Memphis, TN
2 Bedrooms
$450
750 sqft
• 12-month lease (with month to month option) • Cable or Satellite Available • Range • 2 bedrooms • Refrigerator • Wireless Internet Available • Central Air Conditioning • Carpeting • Window Coverings • Housekeeping • On-site Maintenance • On-site
Last updated February 21 at 02:21pm
1 Unit Available
1053 Whitaker #13
1053 Whitaker Drive, Memphis, TN
2 Bedrooms
$450
750 sqft
• 12-month lease (with month to month option) • Cable or Satellite Available • Range • 2 bedrooms • Refrigerator • Wireless Internet Available • Central Air Conditioning • Carpeting • Window Coverings • Housekeeping • On-site Maintenance • On-site
Last updated July 19 at 09:12am
1 Unit Available
811 Polk Avenue
811 Polk Avenue, Memphis, TN
1 Bedroom
$375
Nice Cozy place 1 bed Apt. Window unit included. Application: https://www.hemlane.com/listings/811-polk-ave-memphis-tn-38126-usa-unit-1/5407d5c1-b940-4081-89d8-be4e35819a21 No Pets Allowed (RLNE4777434)
Last updated February 21 at 02:21pm
1 Unit Available
1087 Whitaker Rd #4
1087 Whitaker Dr, Memphis, TN
2 Bedrooms
$500
850 sqft
NO CREDIT CHECK!! NO DEPOSIT!! SECOND CHANCE PROGRAM!! We have very spacious two bedroom apartments. On-Site Laundry Facilities, 24 Hour Courtesy Staff, Surveillance Cameras, All Appliances Included, Walk-in Closets, Close to Public Transportation.

February 2020 Memphis Rent Report

Welcome to the February 2020 Memphis Rent Report. Memphis rents remained steady over the past month. In this report, we'll evaluate trends in the Memphis rental market, including comparisons to cities throughout the state and nation.

View full Rent Report

February 2020 Memphis Rent Report

Welcome to the February 2020 Memphis Rent Report. Memphis rents remained steady over the past month. In this report, we'll evaluate trends in the Memphis rental market, including comparisons to cities throughout the state and nation.

Memphis rents held steady over the past month

Memphis rents have remained flat over the past month, however, they are up slightly by 1.0% year-over-year. Currently, median rents in Memphis stand at $707 for a one-bedroom apartment and $836 for a two-bedroom. Memphis' year-over-year rent growth lags the state average of 2.2%, as well as the national average of 1.6%.

    Rents rising across cities in the Memphis Metro

    Throughout the past year, rent increases have been occurring not just in the city of Memphis, but across the entire metro. Of the largest 10 cities that we have data for in the Memphis metro, all of them have seen prices rise. Tennessee as a whole logged rent growth of 2.2% over the past year. Here's a look at how rents compare across some of the largest cities in the metro.

    • Looking throughout the metro, Franklin is the most expensive of all Memphis metro's major cities, with a median two-bedroom rent of $1,359; of the 10 largest Tennessee metro cities that we have data for, all have seen rents rise year-over-year, with Franklin experiencing the fastest growth (+4.6%).
    • Hendersonville, Clarksville, and Nashville have all experienced year-over-year growth above the state average (3.9%, 3.4%, and 3.3%, respectively).

    Memphis rents more affordable than many similar cities nationwide

    As rents have increased slightly in Memphis, a few other large cities nationwide have also seen rents grow modestly. Memphis is still more affordable than most comparable cities across the country.

    • Memphis' median two-bedroom rent of $836 is below the national average of $1,193. Nationwide, rents have grown by 1.6% over the past year compared to the 1.0% rise in Memphis.
    • While Memphis' rents rose slightly over the past year, many cities nationwide also saw increases, including Phoenix (+3.7%), Dallas (+2.4%), and Seattle (+1.8%).
    • Renters will find more reasonable prices in Memphis than most similar cities. For example, San Francisco has a median 2BR rent of $3,090, which is more than three-and-a-half times the price in Memphis.

    For more information check out our national report. You can also access our full data for cities and counties across the U.S. at this link.

    Methodology - Recent Updates:

    Data from private listing sites, including our own, tends to skew toward luxury apartments, which introduces sample bias when estimates are calculated directly from these listings. To address these limitations, we’ve recently made major updates to our methodology, which we believe have greatly improved the accuracy and reliability of our estimates.

    Read more about our new methodology below, or see a more detailed post here.

    Methodology:

    Apartment List is committed to making our rent estimates the best and most accurate available. To do this, we start with reliable median rent statistics from the Census Bureau, then extrapolate them forward to the current month using a growth rate calculated from our listing data. In doing so, we use a same-unit analysis similar to Case-Shiller’s approach, comparing only units that are available across both time periods to provide an accurate picture of rent growth in cities across the country.

    Our approach corrects for the sample bias inherent in other private sources, producing results that are much closer to statistics published by the Census Bureau and HUD. Our methodology also allows us to construct a picture of rent growth over an extended period of time, with estimates that are updated each month.

    Read more about our methodology here.

    About Rent Reports:

    Apartment List publishes monthly reports on rental trends for hundreds of cities across the U.S. We intend these reports to be a source of reliable information that help renters and policymakers make sound decisions, and we invest significant time and effort in gathering and analyzing rent data. Our work is covered regularly by journalists across the country.

    We are continuously working to improve our methodology and data, with the goal of providing renters with the information that they need to make the best decisions.

    Similar Pages

    Memphis 1 BedroomsMemphis 2 BedroomsMemphis 2 Bedrooms 2 BathroomsMemphis 3 BedroomsMemphis Accessible ApartmentsMemphis Apartments under $500

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