Welcome to Memphis, Tennessee, the Home of the Blues and the Birthplace of Rock 'n' Roll! This vibrant city, known for its rich musical heritage and mouth-watering barbecue, offers a unique blend of Southern charm and urban energy. As enticing as it sounds to live in Memphis, moving to a bustling city often comes with a hefty price tag. The culture, social life, and myriad entertainment options can sometimes mean higher housing costs.
However, finding an affordable apartment near all the excitement is possible. We’ve compiled a list of affordable Memphis neighborhoods to help you experience the best of the city without breaking the bank.
The five cheapest neighborhoods in Memphis in 2024 are:
Whitehaven
- Average 1-bedroom rent in Memphis: $1,002/month
- Average 1-bedroom rent in Whitehaven: $675/month
- Median home value in Whitehaven: $140,000
Whitehaven is a welcoming neighborhood just a few miles south of downtown Memphis. With a population of around 50,000, it’s best known for being home to the iconic Graceland, Elvis Presley’s estate. The area offers a diverse community that is reflected in its range of dining options, including soul food, Southern barbecue, and international cuisine.
Things to do in Whitehaven, TN
There’s plenty to keep residents entertained in Whitehaven. Visit Graceland to explore the King of Rock 'n' Roll’s mansion and take in a piece of music history. For outdoor enthusiasts, T.O. Fuller State Park offers beautiful trails, picnic areas, and a golf course. End your day with some shopping at Southland Mall, which features a variety of stores and dining options.
Transportation
Residents of Whitehaven enjoy convenient access to several major highways, including I-55 and I-240. The neighborhood is also serviced by multiple MATA bus routes, providing easy public transportation options.
Raleigh
- Average 1-bedroom rent in Memphis: $1,002/month
- Average 1-bedroom rent in Raleigh: $751/month
- Median home value in Raleigh: $148,000
Raleigh is a suburban neighborhood in northeastern Memphis. It’s known for its peaceful residential atmosphere, affordable housing options, and the convenience of nearby city amenities.
Things to do in Raleigh
Raleigh offers various recreational activities for its residents. Spend a day at the Raleigh Springs Civic Center, which features a lake, walking trails, and a library. The neighborhood is also home to John F. Kennedy Park, which offers sports fields and picnic areas. For shopping and dining, head to the nearby Wolfchase Galleria, one of the largest malls in the region.
Transportation
Raleigh benefits from access to major routes like I-40 and SR-14, allowing for quick commutes throughout the city. Several bus routes also run through the neighborhood, giving residents transportation options.
Bartlett
- Average 1-bedroom rent in Memphis: $1,002/month
- Average 1-bedroom rent in Bartlett: $901/month
- Median home value in Bartlett: $330,375
Bartlett is a suburban neighborhood located just northeast of Memphis. With a population of about 58,000, Bartlett is known for its excellent schools, safe streets, and welcoming community. The area combines small-town charm with big-city amenities.
Things to do in Bartlett
Bartlett offers a variety of activities for families and individuals alike. Visit the Bartlett Performing Arts and Conference Center for cultural events and performances. Spend a day at Shadowlawn Park, which features baseball fields, a basketball court, and six new pickleball courts.
Transportation
Several bus lines and nearby highways, including I-40 and US-79, connect Bartlett to other parts of Memphis and surrounding areas.
North Memphis
- Average 1-bedroom rent in Memphis: $1,002/month
- Average 1-bedroom rent in North Memphis: $901/month
- Median home value in North Memphis: $187,000
North Memphis is a historic neighborhood located just north of downtown, known for its rich cultural history and affordable living options. The area features a mix of residential, commercial, and industrial spaces, making it a diverse community.
Things to do in North Memphis
North Memphis offers a variety of attractions and activities for its residents. Spend a day outdoors at the nearby Greenbelt Park on Mud Island, which offers walking trails, picnic spots, and breathtaking sunset views. For a taste of local culture, visit the historic Crosstown Concourse, a mixed-use space featuring shops, restaurants, and art galleries. For history buffs, a quick drive to Downtown Memphis will offer numerous museums and historic sites, including the Memphis Rock ‘n’ Soul Museum and the National Civil Rights Museum.
Transportation
Major highways like I-40 and US-51 facilitate travel throughout Memphis, and MATA bus routes running through the area allow residents to travel without a car. MATA trolley lines also run through the south end of North Memphis, allowing for more leisurely transportation around the neighborhood.
Hickory Hill
- Average 1-bedroom rent in Memphis: $1,002/month
- Average 1-bedroom rent in Hickory Hill: $874/month
- Median home value in Hickory Hill: $169,000
Hickory Hill is a bustling neighborhood in southeastern Memphis, known for its diverse community and friendly atmosphere. Hickory Hill offers residents a suburban feel while providing easy access to city life, making it an excellent choice for those seeking affordability without sacrificing convenience.
Things to do in Hickory Hill, TN
Hickory Hill provides a variety of activities to keep residents entertained. The Hickory Hill Community Center offers public recreational facilities and hosts community events throughout the year. For outdoor activities, residents can visit Walter May Park, which features walking trails and sports fields. The area also boasts a range of dining options, from local eateries serving Southern comfort food to international cuisine, ensuring there’s something for every palate.
Transportation
Residents enjoy convenient transportation options. Major highways such as TN-385 and I-240 are nearby, facilitating easy commutes to various parts of the city. The neighborhood is also serviced by several bus routes, allowing for straightforward public transit access throughout Memphis.
Make the Most of Your Move with Apartments.com
Whether you’re dropping in for a short-term lease or hoping to set down roots, Apartments.com has the tools to help you find an affordable apartment easily. Navigate housing across neighborhoods with our customized search engine. Once you find the perfect location, narrow the search within a price range that works for you.
No matter the budget, the options are endless with Apartments.com. Ready to get started? Pay less, live more, and rent on.
Apartment rent data provided by CoStar Group’s June 2024 reports.
