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Apartments Under $700 in Memphis, TN

Map
1 - 30 of 117 Results
9
$650
1025 S Wellington St
Memphis, TN
2 BR | Available Now
Dog Friendly
Cat Friendly
House
Air Conditioning
Disability Access
2
$1 - 250
Saints Courts Apartments
994 North Watkins Street Memphis, TN
1 BR | Available Now
5
$445 - 699
Shady Oaks TN
7860 Raleigh Millington RD Millington, TN
Studio - 3 BR | Available Now
Dog Friendly
House
Air Conditioning
8
$555 - 630
Village Green Apartments
Deal
2.6
3450 Fescue Lane Memphis, TN
1 - 2 BR | Available Now
Cat Friendly
Air Conditioning
Covered Parking
Balcony, Deck, Patio
Storage
11
$685 - 765
Town House Apartment Homes
Deal
3.4
1437 Central Avenue Memphis, TN
Studio | Available Now
Heat Included
Dog Friendly
Cat Friendly
Section 8
Air Conditioning
7
$1 - 250
Gates Apartments
614 Huntington St Gates, TN
2 BR | Available Now
Income Restricted
Air Conditioning
5
$625
Pinebrook Pointe Apartment Homes
3541 Mediterranean Dr Memphis, TN
2 BR | Available Now
Dog Friendly
Cat Friendly
Section 8
Air Conditioning
In Unit Laundry
6
$550
3011 Mcadoo Ave
Memphis, TN
1 BR | Available Now
House
Balcony, Deck, Patio
Dishwasher
16
$700
Stonegate Apartments
4500 Stonegate Dr Memphis, TN
1 BR | Jan. 31, 2023
Dog Friendly
Cat Friendly
Air Conditioning
Balcony, Deck, Patio
Fitness Center
6
$675
302 Mill St
Memphis, TN
1 BR | Available Now
Air Conditioning
Balcony, Deck, Patio
Disability Access
Dishwasher
4
$700
3193 Forest Gln
Memphis, TN
2 BR | Available Now
Balcony, Deck, Patio
Disability Access
Dishwasher
9
$600
80 Eastview St
Memphis, TN
2 BR | Available Now
Balcony, Deck, Patio
Disability Access
Dishwasher
3
$25 - 500
South Pointe Apartments - Affordable Housing
5.0
365 California Street Marianna, AR
2 - 4 BR | Available Now
Income Restricted
Air Conditioning
5
$650
3053 Lyndale St
Memphis, TN
2 BR | Available Now
House
Balcony, Deck, Patio
Dishwasher
5
$585 - 655
Summer Trace Apartments
6015 Summer Trace Memphis, TN
1 - 2 BR | Available Now
Dog Friendly
Cat Friendly
Surface Parking
Dishwasher
Pool
5
$620
The Summit Apartments
4981 Hidden Lake Drive Memphis, TN
1 BR | Available Now
Dog Friendly
Cat Friendly
Section 8
Balcony, Deck, Patio
Fitness Center
5
$570 - 700
Stonegate Apartment
4500 Stone Gate Dr Memphis, TN
1 - 3 BR | Available Now
Dog Friendly
Cat Friendly
Section 8
Air Conditioning
Balcony, Deck, Patio
5
$615
Country Oaks
6555 Country Oaks Circle Memphis, TN
1 BR | Available Now
Dog Friendly
Cat Friendly
Pool
10
$695
790 Brower St
Memphis, TN
1 BR | Available Now
Dog Friendly
Cat Friendly
1
$650
1516 Britton St
Memphis, TN
2 BR | Available Now
House
Balcony, Deck, Patio
Dishwasher
2
$599
Emerald Pointe Apartment
3315 Hickory Hill Road Memphis, TN
2 BR | Available Now
Dog Friendly
Cat Friendly
Section 8
Balcony, Deck, Patio
Storage
1
$500
4460 Powell
Memphis, TN
2 BR | Available Now
In Unit Laundry
1
$599 - 679
2059 N Cabana Cir
Memphis, TN
2 BR | Available Now
Dog Friendly
Cat Friendly
Balcony, Deck, Patio
Disability Access
Dishwasher
4
$635 - 890
Hedgerow
4733 Heather Row Memphis, TN
1 BR | Available Now
Income Restricted
Section 8
Pool
12
$650
170 Eastview Dr
Memphis, TN
2 BR | Available Now
Balcony, Deck, Patio
Dishwasher
$550
1490 Lamar Cv
Memphis, TN
2 BR | Available Now
Dog Friendly
Cat Friendly
Balcony, Deck, Patio
Storage
Dishwasher
$645
1872 Kansas St
Memphis, TN
2 BR | Available Now
House
Balcony, Deck, Patio
Dishwasher
$649 - 749
Cane Creek
1528 Ragan Street Memphis, TN
4 BR | Available Now
Dog Friendly
Cat Friendly
Income Restricted
Section 8
Air Conditioning
$490 - 650
Ashton Hills
4183 Troost Drive Memphis, TN
3 BR | Available Now
Dog Friendly
Cat Friendly
Section 8
Air Conditioning
Covered Parking
18
$650
Westview Apartments - West Memphis Ar, Great 2/1 Apartments
2416 Thompson Ave West Memphis, AR
2 BR | Available Now
Dog Friendly
Cat Friendly
Balcony, Deck, Patio
Disability Access
Dishwasher
1 - 30 of 117 Results
  1. Home
  2. Memphis
  3. Apartments Under $700

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 $950 $550 - $1,650
2BR $1,150 $630 - $1,810
3BR $1,250 $780 - $2,300
4+BR $1,760 $680 - $5,000
Frequently Asked Questions

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

Rentable.co has over 16,532 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 $950 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 $700 are available in Memphis, TN on Rentable.co?

Rentable.co has 117 apartments under $700 available for rent in Memphis.

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

  1. New Chicago
  2. Voillintine-Evergreen

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.