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Apartments for Rent in Memphis, TN under $500

Apartments for Rent in Memphis, TN under $500. 7 Rentals Available
7 Rentals Available
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  • A small house with a yellow roof and stone walls.
    5 units available
    1 bd $300
    2 bd $450+
    Base rent
    Verified Listing

    262 Chelsea Ave., Memphis, TN 38107
  • our apartments have a playground for kids to play
    Ask for Pricing
    Income restricted
    Verified Listing

    4.0 (16)
    5459 Hudgins Road, Memphis, TN 38116
  • A living room with a blue couch and a wooden table.
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    Income restricted
    Verified Listing

    3.5 (7)
    2801 Raja Drive, Memphis, TN 38127-7919
    Apply online
3-0-city
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Frequently asked questions

When were prices and availability in Memphis, TN last updated?

Prices and availability in Memphis, TN were last updated on 4 Jun 2026.

What are the best apartments in Memphis, TN?
What type of rental buildings are in Memphis, TN?

In Memphis 55% of the housing is rented out compared to 45% of homes are owned, according to the most recent Census Bureau estimates. 10% of Memphis's apartments are found in large buildings of 50 units or more, 50% are located in smaller apartment complexes with less than 50 units, and 39% are single-family rentals.