Note: Properties with the Total Monthly Price badge include all required fees. Tap the badge for more details.
-

Bedrooms

Bathrooms

Deals & Discount Filters
All Filters

Deals & Discounts

Price Range

–

Beds & Baths

Beds

Baths

Home Type

Pet Policy

Interior & Community Amenities

Speciality Housing

Keyword Search

Cheap Apartments for Rent in Downtown Memphis

818 Rentals
.
  10. Building Photo - Exchange Building
    Good Value
    STUDIO
    $925+
    1 BED
    $925+
    2 BEDS
    $1,050+

    Exchange Building

    9 N 2nd St, Memphis, TN 38103
  12. Courtyard at The Chisca - The Chisca
    Rent Special
    Rent Special
    STUDIO
    $1,035+
    1 BED
    $947+
    2 BEDS
    $1,446+
    3 BEDS
    $2,335+
    Total Monthly Price Total Monthly Price New
    Base Rent$927 - $2,893
    Required Monthly Fees$20
    Total Monthly Price$947 - $2,913

    The Chisca

    272 S Main St, Memphis, TN 38103
    (901) 979-1538
  13. Building Photo - Court Square Apartments
    Rent Special
    Rent Special
    1 BED
    $1,000+
    2 BEDS
    $1,276+
    3 BEDS
    $2,246+
    Total Monthly Price Total Monthly Price New
    Base Rent$949 - $2,195
    Required Monthly Fees$51 - $81
    Total Monthly Price$1,000 - $2,276

    Court Square Apartments

    62 N Main St, Memphis, TN 38103
    (901) 295-6330
  16. Building Photo - Forum Flats
    Rent Special
    Rent Special
    1 BED
    $973+
    2 BEDS
    $1,163+
    3 BEDS
    $1,339+

    Forum Flats

    441 E Pontotoc Ave, Memphis, TN 38126
  26. Building Photo - Lofts at Union Alley
    STUDIO
    $1,053+
    1 BED
    $1,613+
    Total Monthly Price Total Monthly Price New
    Base Rent$1,019 - $1,579
    Required Monthly Fees$34
    Utilities & EssentialsVaries
    Total Monthly Price$1,053 - $1,613

    Lofts at Union Alley

    110 Barboro Aly, Memphis, TN 38103
    (870) 771-3995
  31. Building Photo - 50 Peabody Place
    1 Month Free
    1 Month Free
    STUDIO
    $1,153+
    1 BED
    $1,215+

    50 Peabody Place

    50 Peabody Pl, Memphis, TN 38103
  32. Building Photo - Riverset Apartments
    Exceptional Value
    |
    1 BED
    $1,166+
    2 BEDS
    $1,416+
    Total Monthly Price Total Monthly Price New
    Base Rent$1,155 - $2,540
    Required Monthly Fees$11
    Utilities & EssentialsVaries
    Total Monthly Price$1,166 - $2,551

    Riverset Apartments

    100 Riverset Ln, Memphis, TN 38103
    (870) 771-4117
  37. Aerial - 99 Front Apartments
    Rent Special
    Rent Special
    STUDIO
    $1,205+
    1 BED
    $1,424+
    2 BEDS
    $1,820+

    99 Front Apartments

    99 S Front St, Memphis, TN 38103
  42. Interior Photo - Pressbox Lofts
    1 BED
    $1,295+
    2 BEDS
    $1,995+

    Pressbox Lofts

    195 Madison Ave, Memphis, TN 38103
Showing 42 of 98 results, Page 1 of 3

Memphis at a Glance

Average Rent

N/A
(All bedrooms and property types)
0

School Rating

out of 10 Rating
Learn more about
Schools in Memphis

Cheap Apartments in Downtown Memphis Neighborhood in Memphis, TN

When looking for cheap apartments in Downtown Memphis, Apartment Finder is your deal-hunting partner. Whether you’re looking for a studio, a one-bedroom, or a two-bedroom apartment, you want the best place at the right price. We have a great selection of budget-friendly apartments for rent, and we’ll show you which apartments offer the best value when compared to other apartments in Downtown Memphis.

Finding a rental that fits your budget without compromising on quality can seem like a challenge, but Apartment Finder makes it easy to discover cheap apartments with all the features you want. To find an apartment you can afford, try looking in less popular neighborhoods outside of the city center. Timing is everything when searching for rentals that are affordable, so look at different times of the day, different days of the week and (if you can wait) certain months like December through March. When you find an apartment with a great price, don’t hesitate! Cheap apartments tend to go very quickly.

Affordability doens't have to equal sacrifice. While it’s important to be flexible, you might not have to give up as much as you think. You can find a cheap apartment for rent, complete with must-have amenities such as paid utilities and an in-unit washer and dryer. Click on any of these properties to see photos and floor plans, read reviews, check out the rent calculator, and learn more about the neighborhood with information on nearby parks, shopping malls, and transit stops. With 98 cheap apartments available in Downtown Memphis, Apartment Finder is the place to find your next rental.

Top Budget-Friendly Neighborhoods in Memphis

(For 1 bedroom apartments)

Education

Data provided by GreatSchools.org 2025 © 2025. All rights reserved.

tooltips


I would like to...
0 out of 400 characters
By clicking above, you agree we may pass along your info so this property or the property’s affiliates can email, call, text, or autodial you to follow up and for any purpose. You also agree to... By clicking above, you agree we may pass along your info so this property or the property’s affiliates can email, call, text, or autodial you to follow up and for any purpose. You also agree to Apartmentfinder.com’s Privacy Statement and Terms of Service. Consent is not a condition for services. Message and data rates may apply. Read More Read Less

Submitting Request

Thank You

Your email has been sent.

Learn about our ratings.