Apartments for Rent in Memphis, TN under $500 – 12 Rentals available
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3048 Moriah Trail, Memphis, TN 38115$475 - $815
- 1 Bed
- 1 Bath
Available Today! Last updated 24 Nov 2020 -
3471 W Briarpark Dr, Memphis, TN 38116$445 - $495
- 1-2 Beds
- 1 Bath
Odin ManagementAvailable Today! Last updated 24 Nov 2020 -
1726 S. Orleans Street, Memphis, TN 38106$475 - $550
- 2 Beds
- 1 Bath
Odin ManagementAvailable Today! Last updated 24 Nov 2020
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Nearby Cities
- Apartments in Atoka
- Apartments in Collierville
- Apartments in Horn Lake
- Apartments in Marion
- Apartments in Olive Branch
- Apartments in Southaven
- Apartments in West Memphis
Popular Neighborhoods
Memphis, TN Demographics
- Total Population653,248
-
Female 309,583Male 343,665
- Median Age33.8
Average Rent in Memphis, TN
- Memphis, TN Average Rental Price, February 2020 $825 /mo
Memphis, TN Apartment Rent Ranges
- < $5007%
- $501-$70036%
- $701-$1,00036%
- $1,001-$1,50017%
- $1,501-$2,0003%
- > $2,0001%
Memphis, TN Rent Trends
| Average Rent | Nov / 2016 | Mar / 2017 | Jul / 2017 | Nov / 2017 | Mar / 2018 | Jul / 2018 | Nov / 2018 | Mar / 2019 | Jul / 2019 | Nov / 2019 | Feb / 2020 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Memphis, TN | $721 | $726 | $744 | $743 | $747 | $772 | $785 | $787 | $806 | $815 | $825 |
| National | $1,340 | $1,337 | $1,368 | $1,371 | $1,374 | $1,408 | $1,417 | $1,422 | $1,458 | $1,466 | $1,468 |
Memphis, TN Households
- Total Number of Households250,812
-
Family 143,189Non-family 107,623
-
Children 73,821No Children 176,991
- Average People Per Household2.54
- Median Household Income$39,108
- Median Housing Costs Per Month$898
Memphis, TN Education Statistics
- No High School5%
- Some High School42%
- Some College25%
- Associate Degree5%
- Bachelor Degree15%
- Graduate Degree9%
Renting apartments in Memphis, TN under $500
Searching for apartments for rent in Memphis, TN under $500 is not an easy task, but luckily you have come to the right place. Whether you are a student on a budget, a young professional on the move, or simply a frugal person, RENTCafé can help you find what you are looking for. Just make sure you know what you consider non-negotiable and what you can compromise on. Your new home is just a few clicks away.
We’ll help you find the cheapest rental near you
Finding a nice cheap apartment is by no means impossible. You just have to be patient. Your “apartments near me under $500” search can bear fruit sooner than you think if you look carefully and check our site often. You never know when discount deals and special offers might pop up. Keep in mind that you are not the only one looking for an affordable apartment in Memphis, TN. Choose “Save Search” to receive the latest apartments available directly to your inbox. This way, you will be able to stay one step ahead of the competition. With the cheapest apartments in Memphis, TN going for $445 per month, there are great deals waiting to be discovered. Feeling lucky? Expand your search to 2 bedroom apartments and 3 bedroom apartments as well for more space.