Budget Leases

Apartments for Rent in Memphis, TN

The cheapest rental in Memphis, TN we're tracking starts at $800/mo, with an average asking rent of $1,076/mo across 68 listings. That puts Memphis roughly 20% below the TN state average of $1,341/mo, so it's one of the more affordable markets in the state. By size, expect one-bedrooms around $1,087/mo and two-bedrooms around $1,006/mo. Listings are ranked cheapest-first and updated regularly.

Updated Jun 9, 2026

Cheapest
$800
lowest listed rent
Average rent
$1,07620% below TN
across all sizes
Average by sizevs TN typical
Studio$1,10521% below TN
1 bed$1,08715% below TN
2 bed$1,00625% below TN
3 bed$1,50020% below TN

Renter guide

How to find the cheapest place to rent in Memphis

68 rentals in Memphis, TN

Every size & style, ranked by price

Renting in Memphis, TN: common questions

How much is rent in Memphis, TN?
The average asking rent across the 68 listings we track in Memphis, TN is $1,076/mo, with the cheapest starting at $800/mo. Prices change often, so confirm current rates on each listing.
What is the cheapest apartment for rent in Memphis?
154 Windover Road - MAGNOLIA GARDENS Apartments is the lowest-priced rental we're tracking in Memphis, TN at $800/mo. We rank every listing cheapest-first so the best-value options are always at the top.
What is the average rent by bedroom in Memphis?
Based on the listings we track in Memphis, TN: studios around $1,105/mo, one-bedrooms around $1,087/mo, two-bedrooms around $1,006/mo, three-bedrooms around $1,500/mo. These are averages and shift with availability.
Is Memphis expensive to rent in?
Relatively no. Memphis's average rent of $1,076/mo is about 20% below the TN state average of $1,341/mo, making it one of the more affordable markets in the state.

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Nearby cities
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