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Cheap Apartments in Memphis, TN

Map
1 of 117 Results
33
$760 - 800
Hickory Grove
4.2
6277 Lake Arbor Drive Memphis, TN
1 BR | Available Now
Dog Friendly
Cat Friendly
Surface Parking
Balcony, Deck, Patio
Fitness Center
13
$100 - 350
City View Towers
256 S Camilla St Memphis, TN
1 BR | Available Now
Heat Included
Senior Community
Income Restricted
Air Conditioning
Surface Parking
8
$750
1674 Clancy St
Memphis, TN
1 BR | Available Now
Dog Friendly
Cat Friendly
House
Dishwasher
10
$710
Forum Flats
5.0
290 Turley Ste. 128 Memphis, TN
1 BR | Available Now
Income Restricted
Balcony, Deck, Patio
Fitness Center
Dishwasher
8
$775
The Lofts At Union Alley
5.0
110 Barboro Alley Memphis, TN
Studio | Ask for Availability
Dog Friendly
Cat Friendly
Air Conditioning
In Unit Laundry
Den
2
$1 - 250
Saints Courts Apartments
994 North Watkins Street Memphis, TN
1 BR | Available Now
Income Restricted
20
$667
Foote Park At South City
521 Vance Park Place Memphis, TN
2 BR | Ask for Availability
Dog Friendly
Cat Friendly
Air Conditioning
In Unit Laundry
Balcony, Deck, Patio
8
$555 - 785
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
11
$685 - 955
Town House Apartment Homes
Deal
3.4
1437 Central Avenue Memphis, TN
Studio - 1 BR | Available Now
Heat Included
Dog Friendly
Cat Friendly
Section 8
Air Conditioning
6
$800
3587 Bayliss Ave,
Memphis, TN
2 BR | Available Now
Heat Included
Furnished
Dog Friendly
Cat Friendly
House
21
$795
4484 Suncrest Dr
Memphis, TN
3 BR | Available Now
Dog Friendly
Cat Friendly
House
Storage
Dishwasher
10
$795
The Historic Almadura
Deal
2.5
175 Stonewall St. Memphis, TN
1 BR | Available Now
Dog Friendly
Cat Friendly
Air Conditioning
Disability Access
Dishwasher
16
$488 - 785
Sycamore Lake
1.9
2174 Westchester Rd. Memphis, TN
1 - 2 BR | Available Now
In Unit Laundry
Balcony, Deck, Patio
Fitness Center
Storage
Dishwasher
15
$525 - 850
The Gilmore
3.9
6 South Mclean Blvd Memphis, TN
Studio - 1 BR | Ask for Availability
Dog Friendly
Cat Friendly
Air Conditioning
Balcony, Deck, Patio
16
$595
3034 Sinclair St
Memphis, TN
2 BR | Available Now
Dog Friendly
Cat Friendly
House
Balcony, Deck, Patio
Disability Access
6
$675
302 Mill St
Memphis, TN
1 BR | Available Now
Air Conditioning
Balcony, Deck, Patio
Disability Access
Dishwasher
4
$500 - 650
Cherry Crest Apartments
1460 Cherry Rd. Memphis, TN
1 - 3 BR | Available Now
Student
Dishwasher
11
$715 - 775
Uptown Square
252 North Lauderdale Street Memphis, TN
Studio - 1 BR | Available Now
Section 8
In Unit Laundry
Fitness Center
Dishwasher
10
$800
4402 Sunny View Dr
Memphis, TN
3 BR | Available Now
House
Dishwasher
9
$675
482 E Mclemore Ave
Memphis, TN
2 BR | Available Now
House
Balcony, Deck, Patio
Dishwasher
15
$795
1057 Treadwell Ave
Memphis, TN
2 BR | Available Now
House
Balcony, Deck, Patio
Storage
Disability Access
Dishwasher
15
$700
2121 Brown Ave
Memphis, TN
2 BR | Available Now
Dog Friendly
Cat Friendly
House
Storage
Dishwasher
7
$650
754 756 Breedlove St
Memphis, TN
2 BR | Available Now
Balcony, Deck, Patio
Storage
Disability Access
Dishwasher
10
$520 - 800
The Reserve At Mt. Moriah
1.3
2778 Pickering Drive Memphis, TN
1 - 3 BR | Available Now
Dog Friendly
Cat Friendly
Section 8
Balcony, Deck, Patio
Dishwasher
7
$485 - 719
Summit Park Apartments
3.3
1770 Piping Rock Drive Memphis, TN
1 - 4 BR | Available Now
Income Restricted
Section 8
Balcony, Deck, Patio
Dishwasher
Pool
30
$629 - 794
Arbors Of Century Center
1490 Century Arbor Ln. Memphis, TN
1 - 2 BR | Available Now
Dog Friendly
Cat Friendly
Section 8
Air Conditioning
In Unit Laundry
13
$775
Jefferson Place Apartments
3.8
560 S. Jefferson Place Memphis, TN
1 BR | Available Now
Dog Friendly
Cat Friendly
Section 8
Air Conditioning
In Unit Laundry
18
$705 - 895
Butterfield Village
1.4
1300 Lynnfield Road Memphis, TN
1 - 2 BR | Available Now
Dog Friendly
Cat Friendly
Section 8
Air Conditioning
Covered Parking
4
$665 - 790
Autumn Ridge
1.8
3888 Autumn Ridge Court Memphis, TN
2 - 3 BR | Available Now
Dog Friendly
Cat Friendly
Section 8
Balcony, Deck, Patio
Fitness Center
6
$750
492 E Mallory Ave
Memphis, TN
2 BR | Available Now
House
Balcony, Deck, Patio
Dishwasher
McKeller
1 - 30 of 117 Results
  1. Home
  2. Memphis
  3. Cheap Apartments

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

Memphis Apartments
Bed Type Average Rent Range
Studio $1,000 $630 - $1,480
1BR $990 $550 - $1,640
2BR $1,100 $630 - $1,840
3BR $1,240 $780 - $2,280
4+BR $1,540 $660 - $4,000
Frequently Asked Questions

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

Rentable.co has over 17,030 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 $990 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 $1,100 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 cheap apartments are available in Memphis, TN on Rentable.co?

Rentable.co has 117 cheap apartments available for rent in Memphis.

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

The average rent for a cheap apartment in Memphis is around $370 per month.

Which neighborhoods have the most cheap apartments for rent in Memphis, TN?

  1. Cooper-Young

Asset 2
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Memphis:
February Rent Report

Welcome to the February 2023 Memphis Apartment Report. In this assessment of the local rental market, Rentable data scientists and rental experts break down the February 2023 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 January to February

Memphis rent prices increased over the last month. From January to February, 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 January to February, 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.

February 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.

February 2023 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.

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 February 1 BR M/M % Change 2 BR February 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.