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cheap apartments
Last updated May 30 2020 at 12:32 PM

55 Cheap Apartments for rent in Memphis, TN

Verified
Last updated May 30 at 12:18pm
20 Units Available
Bent Tree Apartments
3471 W Briarpark Dr, Memphis, TN
1 Bedroom
$445
645 sqft
2 Bedrooms
$495
1048 sqft
3 Bedrooms
$655
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 May 30 at 12:12pm
Parkway Village
18 Units Available
Ten Mile Creek
2718 Claudette Rd, Memphis, TN
1 Bedroom
$465
750 sqft
2 Bedrooms
$540
1005 sqft
3 Bedrooms
$620
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 May 30 at 12:18pm
Hickory Hill
200 Units Available
Hickory Grove
6277 Lake Arbor Dr, Memphis, TN
1 Bedroom
$540
791 sqft
2 Bedrooms
$730
1043 sqft
3 Bedrooms
$810
1306 sqft
One-, two- and three-bedroom apartments with vaulted ceilings, wood-burning fireplaces and washer/dryer connections. Gated community has two outdoor pools, fitness center, sand volleyball court and movie theater.
Verified
Last updated May 30 at 12:46pm
5 Units Available
Highland Chateau
5246 Raleigh LaGrange Rd, Memphis, TN
1 Bedroom
$600
760 sqft
2 Bedrooms
$840
1250 sqft
3 Bedrooms
$915
1550 sqft
Find studio, 1, 2 and 3 bedroom apartments for rent at Highland Chateau in Memphis. View photos, descriptions and more!
Verified
Last updated May 30 at 12:33pm
Springhill Community Civic Club
2 Units Available
Jamesbridge Apartments
3815 N Advantage Way Dr, Memphis, TN
1 Bedroom
$587
683 sqft
2 Bedrooms
$681
888 sqft
Jamesbridge is a unique community with 2 lakes stocked with fish. The community has 3 beautiful bridges to fish from. The community is located close to Interstate 240 for easy access.
Verified
Last updated May 30 at 12:18pm
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 May 30 at 12:18pm
13 Units Available
Mill Creek
4537 Mill Stream Dr, Memphis, TN
1 Bedroom
$545
702 sqft
2 Bedrooms
$615
960 sqft
3 Bedrooms
$860
1460 sqft
**SPRING SPECIAL** Spring Special! $250 security deposit for well qualified applicants. $200 off second month’s rent. Additional $100 off third month’s rent, select units. Special ends May 31, 2020.
Verified
Last updated May 30 at 12:40pm
Springhill Community Civic Club
28 Units Available
Ashton Hills
4183 Troost Drive, Memphis, TN
1 Bedroom
$500
560 sqft
2 Bedrooms
$600
784 sqft
3 Bedrooms
$700
1044 sqft
Find studio, 1, 2 and 3 bedroom apartments for rent at Ashton Hills in Memphis. View photos, descriptions and more!
Verified
Last updated May 30 at 12:46pm
10 Units Available
Twin Oaks
4819 Winchester Rd, Memphis, TN
1 Bedroom
$540
640 sqft
2 Bedrooms
$665
1040 sqft
3 Bedrooms
$700
1313 sqft
Find studio, 1, 2 and 3 bedroom apartments for rent at Twin Oaks in Memphis. View photos, descriptions and more!
Verified
Last updated May 21 at 12:27pm
Concerned Citizens Network System, Inc
1 Unit Available
Longview Heights Apartments
1953 Philsar St, Memphis, TN
2 Bedrooms
$495
788 sqft
**SPRING SPECIAL** Spring Special! $250 security deposit for well qualified applicants. $200 off second month’s rent. Additional $100 off third month’s rent, select units.
Verified
Last updated May 30 at 12:18pm
Concerned Citizens Network System, Inc
2 Units Available
Longview Gardens
1726 S Orleans St, Memphis, TN
2 Bedrooms
$515
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 May 30 at 09:26am
Concerned Citizens Network System, Inc
1 Unit Available
306 East Waldorf Avenue
306 East Waldorf Avenue, Memphis, TN
2 Bedrooms
$575
900 sqft
Newly Renovated Duplex available immediately. Bankruptcies, evictions on a case by case basis Application: https://www.hemlane.
Last updated May 30 at 09:26am
1 Unit Available
3716 Donna Drive
3716 Donna Drive, Memphis, TN
3 Bedrooms
$600
1408 sqft
3716 Donna Dr. - Home For Rent In Frayser + Spacious rooms + Must see - This 3 bedrooms 1.5 bath home located in Frayser is now for rent. Huge living room area with hardwood floors. The kitchen does not include any appliances.
Last updated May 30 at 09:26am
Mid Inner City Association for Heritage
1 Unit Available
951 Alma St. Unit #4
951 Alma St, Memphis, TN
1 Bedroom
$450
Very Cute Quadplex in N. Memphis - This is a one bedroom one full bathroom unit in a quadplex that has been freshly painted throughout. There is a nice sized living room and kitchen which comes with a stove (however, this is not under warranty).
Last updated May 30 at 09:25am
Beltline
1 Unit Available
496 Belt Line St
496 Belt Line Street, Memphis, TN
2 Bedrooms
$600
960 sqft
- (RLNE5615509)
Last updated May 30 at 09:25am
Castalia
1 Unit Available
1277 Airways Boulevard #7
1277 Airways Boulevard, Memphis, TN
2 Bedrooms
$550
600 sqft
Spacious 2-beds 1-bath apartment at a convenient location and peaceful neighborhood. Section-8 Allowed! New Paint with Airy and Sunny living space. The building has 24 hour Sky Cop monitoring. Contact us now to schedule a showing! (RLNE5363271)
Last updated May 30 at 09:25am
Hollywood
1 Unit Available
1553 Harrison St.
1553 Harrison Street, Memphis, TN
1 Bedroom
$495
562 sqft
1553 Harrison St. - Completely Renovated Duplex + Move-in Ready + $0 application fee + Self Tour - Ready for a quick move-in? This renovated 1 bedroom 1 bath duplex is now available for rent.
Last updated May 30 at 07:24am
Binghampton-Lester
1 Unit Available
462 Glankler St
462 Glankler Street, Memphis, TN
2 Bedrooms
$595
462 sqft
Find studio, 1, 2 and 3 bedroom apartments for rent at 462 Glankler St in Memphis. View photos, descriptions and more!
Last updated May 30 at 02:56pm
Bethel Grove
1 Unit Available
2341 Lowell Ave (Bethel Grove)
2341 Lowell Avenue, Memphis, TN
1 Bedroom
$495
1336 sqft
This home is currently under renovation! Although we're unable to allow viewings for safety reasons, you are still able to apply for free and even place a deposit on a home (even before it's ready if you would like) This is a great home but Mid
Last updated May 30 at 02:56pm
Bethel Grove
1 Unit Available
2343 Lowell Ave (Bethel Grove )
2343 Lowell Avenue, Memphis, TN
2 Bedrooms
$550
1336 sqft
This home is currently under renovation! Although we're unable to allow viewings for safety reasons, you are still able to apply for free and even place a deposit on a home (even before it's ready if you would like) This is a great home but Mid
Last updated May 30 at 02:56pm
Orange Mound
1 Unit Available
2386 Lamar Cir (Orange Mound)
2386 Lamar Circle, Memphis, TN
1 Bedroom
$600
690 sqft
This home is currently under renovation! Although we're unable to allow viewings for safety reasons, you are still able to apply for free and even place a deposit on a home (even before it's ready if you would like) This is a great home but Mid
Last updated May 30 at 02:56pm
Orange Mound
1 Unit Available
2388 Lamar Cir (Orange Mound)
2388 Lamar Circle, Memphis, TN
1 Bedroom
$600
690 sqft
This home is currently under renovation! Although we're unable to allow viewings for safety reasons, you are still able to apply for free and even place a deposit on a home (even before it's ready if you would like) This is a great home but Mid
Last updated May 30 at 02:27pm
Bethel Grove
1 Unit Available
2319 POE
2319 Poe Avenue, Memphis, TN
1 Bedroom
$360
Hardwood and tile. Security windows. Large yard. Off street parking. Duplex available 6/10/2020. Call listing agent for appointment
Last updated May 30 at 01:54pm
1 Unit Available
1763 Morlye St -06
1763 Morlye Street, Memphis, TN
2 Bedrooms
$550
756 sqft
Prescott place apartments tiene de 2 dormitorios y 1.5 baños y 2 dormitorios y 2 baños y 3 dormitorios y 2 baños. Hay salas de lavandería en el lugar, el estacionamiento es gratuito y el personal de mantenimiento está disponible las 24 horas.

June 2020 Memphis Rent Report

Welcome to the June 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

June 2020 Memphis Rent Report

Welcome to the June 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 declined 0.1% over the past month, but are up marginally by 0.8% in comparison to the same time last year. Currently, median rents in Memphis stand at $708 for a one-bedroom apartment and $837 for a two-bedroom. Memphis' year-over-year rent growth lags the state average of 1.5%, but is in line with the national average of 0.8%.

    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 1.5% 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 $1,354; of the 10 largest Tennessee metro cities that we have data for, all have seen rents rise year-over-year, with Clarksville experiencing the fastest growth (+3.4%).
    • Franklin, Johnson City, and Nashville have all experienced year-over-year growth above the state average (3.1%, 2.9%, and 2.1%, respectively).

    Memphis rents more affordable than many similar cities nationwide

    As rents have increased marginally in Memphis, other large cities nationwide have seen rents grow more quickly. Memphis is still more affordable than most comparable cities across the country.

    • Memphis' median two-bedroom rent of $837 is below the national average of $1,194. Nationwide, rents have grown by 0.8% over the past year, which matches the rise in Memphis.
    • While Memphis' rents rose marginally over the past year, many cities nationwide saw decreases, including San Francisco (-1.0%), Atlanta (-0.8%), and Denver (-0.4%).
    • Renters will find more reasonable prices in Memphis than most other large cities. For example, San Francisco has a median 2BR rent of $3,071, 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.

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