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Cheap Apartments for Rent in Downtown Memphis

1,288 Rentals
.
  11. Building Photo - Crescent Bluff
    1 BED
    $784+
    2 BEDS
    $1,140+
    3 BEDS
    $1,312+

    Crescent Bluff

    25 E Virginia Ave, Memphis, TN 38106
  28. Building Photo - Forum Flats
    1 BED
    $953+
    2 BEDS
    $1,140+
    3 BEDS
    $1,313+

    Forum Flats

    441 E Pontotoc Ave, Memphis, TN 38126
Showing 42 of 138 results, Page 1 of 4

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
49

Some Transit

out of 100 TransitScore® Rating
Learn more about
Transportation in Memphis
78

Somewhat Bikeable

out of 100 BikeScore® Rating
Learn more about
Transportation 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 138 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)

Getting Around Memphis

Transportation

83

Very Walkable

out of 100 WalkScore® Rating
You might be able to get out and walk when living in this area. Some errands can be accomplished on foot, but for others you need a car.
78

Very Bikeable

out of 100 BikeScore® Rating
You might be able to find places to ride your bike in this area, but you'll most likely want your car for most errands.
49

Some Transit

out of 100 TransitScore® Rating
You'll likely want a car when living in this area since it has few transit options.
Scores provided by Walk Scoreⓘ

Education

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

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