Careers
Favorites
Advertise With Us
Log In
Create Search Alert
Get alerts when new listings become available in the Memphis area that match this search.
Email address:

Subscribed
Error! Please try again later.
Contact Property
Your Name

Email Address

Phone Number
Desired Move In Date
Desired Number of Bedrooms
Request a Tour Date

Ask a Question

Error! Please try again later.

Apartments Under $500 in Memphis, TN

1 - 26 of 26 Results
1
$500
1160 SPRINGDALE
Memphis, TN
1 BR | Available Now
Contact
17
$100 - 350
City View Towers - Seniors 62 & Older
256 S Camilla St Memphis, TN
1 BR | Available Now
Contact
Heat Included
Senior Community
Income Restricted
Air Conditioning
Surface Parking
5
$1 - 900
Greenbriar Apartments
3131 Madewell Memphis, TN
1 - 3 BR | Ask for Availability
Contact
Air Conditioning
Surface Parking
1
$450
Scott Street Apartments
304 Scott St Memphis, TN
1 BR | Available Now
Contact
5
$25 - 992
Saints Courts Apartments
Deal
994 N Watkins St Memphis, TN
1 - 2 BR | Available Now
Contact
Income Restricted
1
$500 - 535
El Dorado Apartments
1.4
2743 Ketchum Road Memphis, TN
1 BR | Available Now
Contact
Dog Friendly
Cat Friendly
5
$500
Lakes At Ridgeway
1.9
5995 Waterstone Oak Way Memphis, TN
1 BR | Available Now
Contact
Dog Friendly
Cat Friendly
Section 8
Air Conditioning
In Unit Laundry
16
$488
Sycamore Lake
1.9
2174 Westchester Rd. Memphis, TN
1 BR | Available Now
Contact
Luxury
In Unit Laundry
Balcony/Deck/Patio
Fitness Center
Storage
5
$439 - 469
Mill Creek Apartments
2.7
Millbranch Dr Memphis, TN
1 BR | Available Now
Contact
Dog Friendly
Cat Friendly
Townhome
Balcony/Deck/Patio
Pool
4
$500
Cherry Crest Apartments
1460 Cherry Rd. Memphis, TN
1 BR | Available Now
Contact
Student
Dishwasher
11
$500
2105 Swift
Memphis, TN
2 BR | Available Now
Contact
House
Den
4
$495
1680 Kansas St
Memphis, TN
Studio - 1 BR | Ask for Availability
Contact
4
$450
297 Fields
Memphis, TN
2 BR | Available Now
Contact
House
1
$475
Melinda Apartments
4332 Melinda Memphis, TN
2 BR | Available Now
Contact
Air Conditioning
$475 - 585
Longview Gardens
1.8
1726 S. Orleans Street Memphis, TN
2 BR | Available Now
$380 - 405
Charter Oak Apartments
5473 Vander Oak Drive Memphis, TN
1 - 2 BR | Available Now
Contact
Dog Friendly
Cat Friendly
Income Restricted
Section 8
Air Conditioning
$500
911 Kney
Memphis, TN
2 BR | Available Now
Contact
House
Storage
$490 - 650
Ashton Hills
4183 Troost Drive Memphis, TN
3 BR | Available Now
Contact
Dog Friendly
Cat Friendly
Section 8
Air Conditioning
Covered Parking
1
$450
2414-2416 Shasta
Memphis, TN
1 BR | Ask for Availability
Contact
1
$475
3803 Given
Memphis, TN
2 BR | Available Now
Contact
Air Conditioning
Balcony/Deck/Patio
1
$495
1386 Court Ave
Memphis, TN
1 BR | Ask for Availability
Contact
1
$400
1493 Gaither St
Memphis, TN
1 BR | Ask for Availability
Contact
1
$500
1606 Victory
Memphis, TN
2 BR | Available Now
Contact
House
1
$499
2109 Farrington
Memphis, TN
2 BR | Available Now
Contact
House
3
$425
The Peach Apartments
1330 Peach Ave Memphis, TN
1 BR | Available Now
Contact
1
$350
660 Jennette
Memphis, TN
2 BR | Available Now
Contact
House
1 - 26 of 26 Results
  1. Home
  2. Memphis
  3. Apartments Under $500
Frequently Asked Questions

How many apartments under $500 are available in Memphis, TN on Rentable.co?

There are 26 apartments under $500 in Memphis currently available for rent on Rentable.co.

How many studio apartments under $500 are available in Memphis?

Rentable.co has 14 studio apartments under $500 available for rent in Memphis.

How many one-bedroom apartments under $500 are available in Memphis?

Rentable.co has 59 one-bedroom apartments under $500 available for rent in Memphis.

How many two-bedroom apartments under $500 are available in Memphis?

Rentable.co has 53 two-bedroom apartments under $500 available for rent in Memphis.

Can I afford a apartment under $500 in Memphis, TN?

To comfortably afford a apartment under $500 in Memphis based on average rent prices, a household would need an annual income of $19,000.

Apartments Under $500 in Memphis, TN: November Rental Information

Welcome to the November 2026 Memphis Apartment Report. In this assessment of the local rental market, Rentable data scientists and rental experts break down the November 2026 key findings and figures for the Memphis rental landscape.

Our experts analyze the inventory trends for apartments under $500 — overall market rent-distribution, availability by bedroom count, and month-over-month comparisons — in Memphis and surrounding areas. This summary also provides an insight into available features and amenities, as well as location options for apartments under $500 in Memphis.

Please note that the rental prices mentioned in this report are for November 2026 and are subject to change. It's recommended to contact the property directly for the most accurate pricing information.
0 15 30 45 60 <$600 $640 $720 $800 $880 $960 $1,040 $1,120 $1,200 $1,280 $1,360 $1,440 $1,520 >$1,600
This month, the typical cost to rent a one-bedroom apartment in Memphis stands at $1,050, with the majority falling between $650 and $1,620. Out of the 4,644 one-bedroom apartments currently on the market in Memphis, 27 are priced below $500, accounting for 1% of the total available one-bedroom units in Memphis.

Available Apartments Under $500: Memphis vs. Surrounding Areas

Memphis, TN
34
This chart displays the number of available apartments under $500 in Memphis, TN and the surrounding cities for the month of November 2026. The cities included in this data are West Memphis, Southaven, Olive Branch, Germantown, Lakeland, Millington, Munford, Arlington, Piperton, Bartlett, Collierville, Hernando, Marion, Robinsonville, Walls, Cordova, Horn Lake, Joiner, Turrell, and Nesbit. The chart provides an overview of the rental inventory in the metro area, indicating the number of apartments that fall within this price range. This information is helpful for prospective renters seeking affordable housing options in the Memphis, TN area. Currently, the total inventory of apartments under $500 in the metro area is 35.

Apartments Under $500 Now vs. Last Month: Memphis and Surrounding Areas

City Apartments Under $500 in November M/M % Change
Memphis, TN 34 +1.1%
Robinsonville, MS 2 +1.0%
Cordova, TN 2 +0.87%
Horn Lake, MS 1 +1.0%
Southaven, MS 1 +1.4%

Looking for Apartments Under $500 in Memphis?

Available apartments under $500 143
Top amenities Air Conditioning, Refrigerator, Cable Ready, High Speed Internet, Pet Friendly Community
Pet friendly 63
Utilities included 15
Furnished 38
Studio 11
1 Bedroom 38
2 Bedroom 35
Browse Memphis Apartments
Memphis Apartments by Neighborhood
Memphis Apartments by Bedrooms
Memphis Apartments by Affordability
Memphis Apartments with Amenities
Memphis Apartments by Type
Colleges Near Memphis
Memphis Apartments by Zip Code