Memphis, TN. - While the cost of living in Memphis is 14% lower than the national average, renting an apartment in the city can still be pricey for residents who typically earn less on average than their counterparts in other cities.
For example, the average rent for a one-bedroom apartment in Memphis is nearly $1,000 a month. However, it isn't hard for renters to find nice housing options that are under $700 a month, especially if they search across the entire metro area.
1. New Horizons
If you are looking for an affordable apartment community in the city, New Horizons has one-bedroom units for $550 a month and two-bedroom units for $625 a month.
Amenities include 24/7 on-site security, laundry facilities, a clubhouse, and in-unit washer and dryer.
2. The Trails at Mt. Moriah
Another affordable rental option in the city, The Trails at Mt. Moriah has one-bedroom units that start at $671 a month.
Residents enjoy a swimming pool, fitness center, laundry facilities, playground, sports courts, and WiFi.
3. Cedar Mill Apartments & Townhomes
Cedar Mill Apartments & Townhomes have one-bedroom units that rent for as low as $600 a month.
Community amenities include a swimming pool and clubhouse, fitness center, courtyard and sundeck, package services, storage space, and in-unit washer and dryer.
4. Walden Pointe
Another community that has one-bedroom apartments that start at $600 a month is Walden Pointe. Additionally, the property has two-bedroom units that start at just $700 a month.
Residents enjoy a playground, tennis court, courtyard, high-speed internet access, and walk-in closets.
5. Bantam Springbook Apartments
The Bantam Springbook Apartments have cozy studio units that start at $675 a month. Plus, all utilities are included in the rent!
Amenities include things like full-time security, on-site maintenance and management, laundry facilities, and short-term lease options.
6. Plum Tree
Plum Tree has large one-bedroom units that rent for as low as $681 a month.
Community amenities include free trash removal, high-speed internet access, balconies, walk-in closets, and washer and dryer hookups.
7. Lakeville Townhomes
The Lakeville Townhomes have one-bedroom units that start at $700 a month.
Residents enjoy being in a gated, controlled access community for added security, a swimming pool, waterfront views, and planned social activities.
Bonus: The Regency at Raleigh
Finally, The Regency at Raleigh has spacious one-bedroom apartments that rent for just $688 a month.
Amenities include assigned parking, outside storage units, private patios, a swimming pool and playground, and controlled access for more security.
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