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Apartments Under $1,200 in Memphis, TN

Map
1 - 30 of 433 Results
11
$850
3424 Felton RD
Memphis, TN
3 BR | Available Now
Dog Friendly
Cat Friendly
House
Disability Access
4
$800
Beverly Springs
2879 Beverly Hill St Memphis, TN
2 BR | Available Now
Storage
46
$856 - 2,156
Greenbrook at Shelby Farms
4.6
1400 Greenbrook Parkway Memphis, TN
1 - 2 BR | Available Now
Dog Friendly
Cat Friendly
Air Conditioning
In Unit Laundry
Balcony, Deck, Patio
10
$825
2427 Joy Ln
Memphis, TN
3 BR | Available Now
Dog Friendly
Cat Friendly
House
In Unit Laundry
Disability Access
9
$650
1025 S Wellington St
Memphis, TN
2 BR | Available Now
Dog Friendly
Cat Friendly
House
Air Conditioning
Disability Access
9
$1,100
Gayoso House
4.9
130 South Front Street Memphis, TN
1 BR | Ask for Availability
Dog Friendly
Cat Friendly
Air Conditioning
Covered Parking
Fitness Center
9
$1,175
2219 Woodfield Park RD
Memphis, TN
2 BR | Available Now
Dog Friendly
Cat Friendly
House
Disability Access
12
$1,000
Pembroke Square
5.0
125 Gayoso Avenue Memphis, TN
1 BR | Ask for Availability
Dog Friendly
Cat Friendly
Air Conditioning
Covered Parking
Fitness Center
67
$900 - 1,185
The Park at Paisley
4.2
3315 Ridgeway Road Memphis, TN
1 - 2 BR | Available Now
Heat Included
Dog Friendly
Cat Friendly
Air Conditioning
Balcony, Deck, Patio
8
$990
4129 Ward Ave
Memphis, TN
3 BR | Available Now
Dog Friendly
Cat Friendly
House
13
$1,050
517 Delta RD
Memphis, TN
5 BR | Available Now
Dog Friendly
Cat Friendly
House
Storage
Disability Access
8
$775 - 1,100
The Lofts At Union Alley
5.0
110 Barboro Alley Memphis, TN
Studio - 1 BR | Ask for Availability
Dog Friendly
Cat Friendly
Air Conditioning
In Unit Laundry
Den
27
$876 - 1,175
The Park at Forest Hill
8285 Irene Boulevard Memphis, TN
1 - 2 BR | Available Now
Dog Friendly
Cat Friendly
Virtual Tour
Air Conditioning
Balcony, Deck, Patio
38
$900 - 1,175
The Park at Hollyford
2.6
6555 North Country Oaks Circle Memphis, TN
1 - 2 BR | Available Now
Heat Included
Dog Friendly
Cat Friendly
Air Conditioning
Balcony, Deck, Patio
33
$760 - 1,049
Hickory Grove
4.2
6277 Lake Arbor Drive Memphis, TN
1 - 3 BR | Available Now
Dog Friendly
Cat Friendly
Surface Parking
Balcony, Deck, Patio
Fitness Center
28
$1,000 - 1,250
266 Lofts
2.6
266 S Front Street Memphis, TN
1 BR | Available Now
Dog Friendly
Cat Friendly
Air Conditioning
Covered Parking
Surface Parking
11
$925 - 1,100
The W. L. Apartments
5.0
267 South Main St Memphis, TN
Studio - 2 BR | Ask for Availability
Cat Friendly
Air Conditioning
Balcony, Deck, Patio
Dishwasher
34
$1,100
The Luxe of Southaven
Deal
5905 Airways Blvd. Southaven, MS
1 BR | Available Now
Dog Friendly
Cat Friendly
Balcony, Deck, Patio
Fitness Center
Storage
3
$862
Chapel Place Homes (Affordable Housing; Income Limit Restrictions Apply)
5228 Whistling Duck Dr Memphis, TN
3 BR | Dec. 19, 2022
Dog Friendly
Cat Friendly
Income Restricted
Balcony, Deck, Patio
Dishwasher
40
$1,146 - 1,576
North Creek
Deal
2.2
8786 N Creek Blvd Southaven, MS
1 BR | Available Now
Dog Friendly
Cat Friendly
Dishwasher
14
$759 - 839
Legacy At Pecan Grove
7320 Highway 161 North Walls, MS
1 - 2 BR | Ask for Availability
Dog Friendly
Cat Friendly
Air Conditioning
Surface Parking
Balcony, Deck, Patio
8
$1,142 - 1,503
The Carrington At Schilling Farms
3.4
1020 Schilling Row Ave Collierville, TN
1 BR | Available Now
Furnished
Dog Friendly
Cat Friendly
Covered Parking
Surface Parking
10
$710
Forum Flats
5.0
290 Turley Ste. 128 Memphis, TN
1 BR | Available Now
Income Restricted
Balcony, Deck, Patio
Fitness Center
Dishwasher
2
$1 - 250
Saints Courts Apartments
994 North Watkins Street Memphis, TN
1 BR | Available Now
34
$1,071 - 1,330
University Place Apartments
Deal
3.3
1045 East Eh Crump Blvd Memphis, TN
1 - 2 BR | Available Now
Heat Included
Dog Friendly
Cat Friendly
Air Conditioning
Covered Parking
5
$445 - 800
Shady Oaks TN
7860 Raleigh Millington RD Millington, TN
Studio - 3 BR | Available Now
Dog Friendly
House
Air Conditioning
20
$1,045
Foote Park At South City
521 Vance Park Place Memphis, TN
1 BR | Ask for Availability
Dog Friendly
Cat Friendly
Air Conditioning
In Unit Laundry
Balcony, Deck, Patio
123
$865 - 925
The Park at Brighton
2634 East Lake Boulevard Robinsonville, MS
1 - 2 BR | Available Now
Heat Included
Dog Friendly
Cat Friendly
Air Conditioning
Balcony, Deck, Patio
11
$685 - 1,005
Town House Apartment Homes
Deal
3.4
1437 Central Avenue Memphis, TN
Studio - 2 BR | Available Now
Heat Included
Dog Friendly
Cat Friendly
Section 8
Air Conditioning
8
$555 - 835
Village Green Apartments
Deal
2.6
3450 Fescue Lane Memphis, TN
1 - 3 BR | Available Now
Cat Friendly
Air Conditioning
Covered Parking
Balcony, Deck, Patio
Storage
1 - 30 of 433 Results
  1. Home
  2. Memphis
  3. Apartments Under $1,200

How much does it cost to rent an apartment in Memphis?

Memphis Apartments
Bed Type Average Rent Range
Studio $1,000 $630 - $1,530
1BR $940 $550 - $1,630
2BR $1,150 $630 - $1,800
3BR $1,250 $780 - $2,310
4+BR $1,820 $680 - $5,000
Frequently Asked Questions

How many apartments are available in Memphis, TN on Rentable.co?

Rentable.co has over 16,525 apartments available in Memphis.

What is the average rent for a studio apartment in Memphis, TN?

The average rent for a studio apartment in Memphis is around $1,000 per month.

What is the average rent for a one-bedroom apartment in Memphis, TN?

The average rent for a one-bedroom apartment in Memphis is around $940 per month.

What is the average rent for a two-bedroom apartment in Memphis, TN?

The average rent for a two-bedroom apartment in Memphis is around $1,150 per month.

How expensive is living in Memphis, TN?

Based on average rent prices in Memphis, to afford a studio apartment you would need an annual salary of $40,000 to live comfortably.

How many apartments under $1,200 are available in Memphis, TN on Rentable.co?

Rentable.co has 433 apartments under $1,200 available for rent in Memphis.

Which neighborhoods have the most apartments under $1,200 for rent in Memphis, TN?

  1. Central Gardens
  2. Cooper-Young
  3. Voillintine-Evergreen
  4. McKeller
  5. Downtown Memphis

Asset 2
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Memphis:
December Rent Report

Welcome to the December 2022 Memphis Apartment Report. In this assessment of the local rental market, Rentable data scientists and rental experts break down the December 2022 key findings and figures for the Memphis rental landscape.

Our experts analyze the pricing trends — one-bedroom, two-bedroom, year-over-year and month-over-month — in Memphis and surrounding areas and provide comparisons to the entire metro area, nearby cities and some of the most desirable and expensive cities in the United States. Take a look at the last 12 months of Memphis average rent prices in the chart below.

Monthly Rent Report

Memphis Rent Prices Increase From November to December

Memphis rent prices increased over the last month. From November to December, the city experienced a 0.11% increase for the price of a one-bedroom apartment. The rent price for a Memphis one-bedroom apartments currently stands at $898.0.

When we take a look at the two-bedroom comparison from November to December, Memphis experienced a -0.68% decrease for the price of a two-bedroom apartment. The rent price for a Memphis two-bedroom apartments currently stands at $1,029.0.

December Prices: Memphis vs. Surrounding Areas

Rent Prices in Memphis and Surrounding Areas

Rent prices have increased in Memphis over the last month. But how have the surrounding areas fared when it comes to the recent volatility in apartment prices? Rent prices in 3 of the Memphis suburbs increased last month. On the other hand, 3 local areas experienced a decrease in the price of a one-bedroom apartment.

More key findings include:

  • Rent increased in Cordova, TN, Southaven, MS, Bartlett, TN .

  • Rent decreased in Horn Lake, MS, Collierville, TN, Germantown, TN.

  • 6 suburbs are currently priced higher than the city of Memphis.

December 2022 Pricing Trends: Memphis vs. National Comparisons

Memphis Rent Prices More Affordable Than Major Cities

Rent growth in Memphis over the past year has been on the rise. When compared to major cities nearby, along with some of the most expensive cities in the country, Memphis average rent prices appear to be relatively affordable for local residents.

The price for a Memphis one-bedroom apartment remains vastly more affordable than four of the largest cities in the United States — New York City, Washington, D.C. San Francisco and Los Angeles. And pricing compares quite similarly to nearby Midwest cities.

You can view the full rundown of Rentable's December 2022 National Apartment Report and data set here.

For more information about Memphis and surrounding area rent prices, take a look at the complete data set below.

Data set for Memphis and suburbs

1 BR December 1 BR M/M % Change 2 BR December 2 BR M/M % Change
Memphis, TN $897.0 -0.11% $1,036.0 -2.08%
Cordova, TN $1,353.0 2.81% $1,497.0 0.67%
Southaven, MS $1,257.0 3.37% $1,493.0 -3.68%
Horn Lake, MS $1,246.0 -1.74% $1,200.0 0.00%
Collierville, TN $1,290.0 -0.85% $1,384.0 -0.65%
Germantown, TN $1,241.0 -0.64% $1,683.0 -0.94%
Bartlett, TN $1,472.0 0.27% $1,831.0 0.94%

Methodology

Each month, using over 1 million Rentable listings across the United States, we calculate the median 1-bedroom and 2-bedroom rent prices by city, state, and nation, and track the month-over-month percent change. To avoid small sample sizes, we restrict the analysis for our reports to cities meeting minimum population and property count thresholds.