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Apartments Under $700 in Memphis, TN

1 - 30 of 115 Results
9
$700
Student Lofts At Brister, Bldg 106
613 Brister St Memphis, TN
1 BR | Available Now
Contact
Balcony/Deck/Patio
8
$625
Springdale Apartments
Memphis, TN
1 BR | Available Now
Contact
11
$685 - 765
Town House Apartment Homes
3.4
1437 Central Avenue Memphis, TN
Studio | Available Now
Contact
Heat Included
Dog Friendly
Cat Friendly
Luxury
Section 8
8
$555 - 630
Village Green Apartments
2.6
3450 Fescue Lane Memphis, TN
1 - 2 BR | Available Now
Contact
Cat Friendly
Luxury
Air Conditioning
Covered Parking
Balcony/Deck/Patio
9
$625
1535 Jackson Ave
Memphis, TN
1 BR | Available Now
Contact
Dog Friendly
Cat Friendly
Surface Parking
Storage
Disability Access
18
$659
University Gardens Manor
2059 N Cabana Cir Memphis, TN
1 - 2 BR | Available Now
Contact
Dog Friendly
Cat Friendly
Fitness Center
Storage
Disability Access
16
$695
1938-2006 E Raines/Bonnie
Memphis, TN
1 BR | Available Now
Contact
Dog Friendly
Cat Friendly
37
$675 - 700
Summer Trace Apartments
Deal
3.2
6015 Summer Trace Memphis, TN
1 BR | Available Now
Contact
Dog Friendly
Cat Friendly
Air Conditioning
Surface Parking
Balcony/Deck/Patio
1
$650
Recently Renovated 1 Bedroom Duplex Ready For Move-in!! - Binghampton
684 Lipford St Memphis, TN
1 BR | Available Now
Contact
Dog Friendly
Cat Friendly
House
1
$495
Cute Duplex In Prospect Park
1455 Eloise Rd Memphis, TN
1 BR | Available Now
Contact
House
Disability Access
5
$695 - 699
607 Mclemore Ave
Memphis, TN
2 BR | Available Now
Contact
22
$599
1763 E Raines Rd Apt Memphis
Memphis, TN
1 BR | May. 22, 2026
Contact
Dog Friendly
Cat Friendly
3
$640 - 660
PER
ROOM
The Nine at Memphis
3565 Mynders Ave Memphis, TN
4 BR | Available Now
Contact
Dog Friendly
Cat Friendly
Student
Luxury
Air Conditioning
1
$550
165 N Merton
165 N Merton Ave Memphis, TN
1 BR | Available Now
Contact
Air Conditioning
Storage
Disability Access
15
$685
3023 Josibpet Ln
Memphis, TN
1 BR | Available Now
Contact
Dog Friendly
Air Conditioning
7
$650
Move-in Special In 38112
3102 Allison Ave Memphis, TN
1 BR | Ask for Availability
Contact
House
1
$600
1160 SPRINGDALE
Memphis, TN
1 BR | Available Now
Contact
9
$699
1735 Delano Ave Unit 11
Memphis, TN
1 BR | Available Now
Contact
Dog Friendly
Cat Friendly
Balcony/Deck/Patio
1
$675
1304 Court Ave
Memphis, TN
1 BR | Available Now
Contact
Storage
Disability Access
7
$595
1297 S Prescott St
Memphis, TN
1 BR | Ask for Availability
Contact
House
13
$699
Cozy 2-bed, 1 Bath Duplex With Unique Touches & Great Vibes!
3639 Allandale Rd Memphis, TN
2 BR | Ask for Availability
Contact
House
6
$699
1678 Via Roma
Memphis, TN
1 BR | Available Now
Contact
House
5
$699
1628 Via Roma
Memphis, TN
1 BR | Ask for Availability
Contact
Dog Friendly
House
1
$695
2412 Charjean
2412 Charjean St Memphis, TN
2 BR | Available Now
Contact
Dog Friendly
Cat Friendly
1
$675 - 695
148 Stonewall Pl
Memphis, TN
1 BR | May. 21, 2026
Contact
Dog Friendly
Cat Friendly
Air Conditioning
Surface Parking
Storage
5
$699
1614 Via Roma
Memphis, TN
1 BR | Available Now
Contact
Dog Friendly
House
27
$599
1761 E Raines Rd Apt Memphis
Memphis, TN
2 BR | Available Now
Contact
Dog Friendly
Cat Friendly
10
$695
2922 Hale Ave
Memphis, TN
2 BR | Available Now
Contact
Dog Friendly
Cat Friendly
Air Conditioning
7
$699
1663 Dena Dr
Memphis, TN
1 BR | Available Now
Contact
House
1
$695
888 Kerr Ave
Memphis, TN
2 BR | Available Now
Contact
1 - 30 of 115 Results
  1. Home
  2. Memphis
  3. Apartments Under $700
Frequently Asked Questions

How many apartments under $700 are available in Memphis, TN on Rentable.co?

There are 115 apartments under $700 in Memphis currently available for rent on Rentable.co.

How many studio apartments under $700 are available in Memphis?

Rentable.co has 36 studio apartments under $700 available for rent in Memphis.

How many one-bedroom apartments under $700 are available in Memphis?

Rentable.co has 417 one-bedroom apartments under $700 available for rent in Memphis.

How many two-bedroom apartments under $700 are available in Memphis?

Rentable.co has 824 two-bedroom apartments under $700 available for rent in Memphis.

Can I afford a apartment under $700 in Memphis, TN?

To comfortably afford a apartment under $700 in Memphis based on average rent prices, a household would need an annual income of $26,000.

Which neighborhoods have the most apartments under $700 for rent in Memphis, TN?

  1. South Forum
  2. New Chicago

Apartments Under $700 in Memphis, TN: May Rental Information

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

Our experts analyze the inventory trends for apartments under $700 — overall market rent-distribution, availability by bedroom count, and month-over-month comparisons — in Memphis and surrounding areas. This summary also provides insights into available features and amenities, as well as location options for apartments under $700 in Memphis.

Renters searching for affordable housing options in Memphis will find a variety of apartments to choose from, with monthly rents under $700. The city offers a range of one-bedroom, two-bedroom, and three-bedroom apartments in this price range.

When it comes to amenities, renters can expect to find options such as swimming pools, fitness centers, on-site laundry facilities, and pet-friendly policies in many of the apartments under $700.

As of the May 2026 report, availability is fair, with a number of apartments under $700 available for rent. However, it's always recommended to check the Rentable website frequently, as availability can change rapidly in this price range.

Whether you're a student, young professional, or family, Rentable has you covered with affordable options for apartments under $700 in Memphis.
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 $1,030, with the majority falling between $650 and $1,650. Out of the 4,287 one-bedroom apartments currently on the market in Memphis, 292 are priced below $700, accounting for 7% of the total available one-bedroom units in Memphis.

Available Apartments Under $700: Memphis vs. Surrounding Areas

Memphis, TN
115
In May 2026, there are a variety of affordable apartments available for rent in Memphis, TN and the surrounding cities. The chart above shows the number of apartments under $700 currently listed on Rentable's website in these areas. In Memphis proper, there are a total of 126 apartments available in this price range. The surrounding cities of West Memphis, Southaven, Olive Branch, Germantown, Lakeland, Millington, Munford, Arlington, Piperton, Bartlett, Collierville, Hernando, Marion, Robinsonville, Walls, Cordova, Horn Lake, Joiner, Turrell, and Nesbit also offer a range of options for renters looking for affordable housing. This chart can help prospective renters find the right apartment that meets their budget and needs in the Memphis, TN metro area.

Apartments Under $700 Now vs. Last Month: Memphis and Surrounding Areas

City Apartments Under $700 in May M/M % Change
Memphis, TN 116 +0.99%
Southaven, MS 2 +1.0%
Robinsonville, MS 2 +1.0%
West Memphis, AR 2 +1.08%
Horn Lake, MS 1 +1.0%
Olive Branch, MS 0 +1.0%
Walls, MS 0 +1.0%
Marion, AR 0 +1.0%

Looking for Apartments Under $700 in Memphis?

Available apartments under $700 1,291
Top amenities Fitness Center, Air Conditioning, Dishwasher, Refrigerator, Range / Oven
Deals 4
Pet friendly 165
Utilities included 23
Furnished 40
1 Bedroom 103
2 Bedroom 114
4 Bedroom 31
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