Find 27 two-bedroom apartments for rent in Memphis, TN. A two-bedroom apartment has two distinct bedrooms that share a common living space and kitchen. Depending on the floor plan, each room may share or have its own bathroom. Renters can benefit from a two-bedroom apartment by converting the second bedroom into a home gym, setting up an office, or hosting overnight guests. Financially conscious renters can split rent with a roommate to enjoy the extra storage space and square footage without paying full price. Finding cost-effective living options in Memphis, TN is made easier with 27 apartments for rent under $700. These budget-friendly rental options offer a variety of floor plans and amenities while adhering to your financial preferences. Opting for an apartment under $700 in Memphis means enjoying a balanced lifestyle where price does not compromise the quality of living.