Cheap Apartments for Rent in the Peabody Neighborhood of Memphis, TN from $300 (58 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
Lifestyle Matching SearchDone
Learn more about Lifestyle Search
By AmenitiesDone
By Community TypeDone
Features and AvailabilityDone
Done

Search the lowest-cost Apartments available for rent right now in the Peabody area of Memphis.

close
View Me
Peabody Place
from $8951 Bedroom Apartments Contact Us For Availability

Peabody Place

1986 Peabody AveMemphis, TN 38104
Affordability
  • Verified
close
View Me
411 Tillman St
2 Bedroom Apartments

411 Tillman St

411 Tillman StMemphis, TN 38112
close
View Me
321 Pauline St
1 to 2 Bedroom Apartments

321 Pauline St

321 Pauline StMemphis, TN 38104
  • Utilities Included
close
View Me
Lapaloma Apartments
1 to 2 Bedroom Apartments

Lapaloma Apartments

1393 Lapaloma CirMemphis, TN 38114
  • Utilities Included
close
View Me
230 Cochran St
2 Bedroom Apartments

230 Cochran St

230 Cochran StMemphis, TN 38105
  • Utilities Included
close
View Me
Peach Apartments
1 Bedroom Apartments

Peach Apartments

1330 Peach AveMemphis, TN 38104
close
View Me
165 N Merton
1 Bedroom Apartments

165 N Merton

165 N Merton StMemphis, TN 38112
close
View Me
Edgewood Townhomes
2 Bedroom Apartments

Edgewood Townhomes

1903 S Parkway EMemphis, TN 38114
  • Utilities Included
close
View Me
SoMa 23
Studio to 2 Bedroom Apartments

SoMa 23

23 S Pauline StMemphis, TN 38104
close
View Me
35 N Idlewild St
2 Bedroom Apartments

35 N Idlewild St

35 N Idlewild StMemphis, TN 38104
close
View Me
Idlewild Terrace
1 Bedroom Apartments

Idlewild Terrace

32 Idlewild StMemphis, TN 38104
  • Utilities Included
close
View Me
144 N. Belvedere
2 Bedroom Apartments

144 N. Belvedere

144 N Belvedere BlvdMemphis, TN 38104
close
View Me
Kimbrough Towers
1 to 3 Bedroom Apartments

Kimbrough Towers

172 Kimbrough PlMemphis, TN 38104
close
View Me
Cherokee Arms
Studio Apartments

Cherokee Arms

1508 Madison AveMemphis, TN 38104
  • Utilities Included
close
View Me
Idlewild Terrace
1 to 2 Bedroom Apartments

Idlewild Terrace

34 N Idlewild StMemphis, TN 38104
Showing Results 1-50, Page 1 of 2

Peabody, Memphis, TN Local Guide

Cheapest Available Peabody Apartments for Rent

 

The cheapest available apartment rental in the Peabody area of Memphis, TN is a 1 Bed unit found at 165 N Merton priced from $550. SoMa 23 has the second lowest priced unit, which is a Studio apartment currently listed from $650. Here are the most affordable Peabody apartments for rent in Memphis, TN:

Apartment ListingModel NameBed/BathPriced From
165 N Merton1BR/1.0BA1BR,1BA$550
SoMa 23Studio SmallStudio,1BA$650
Village Square2048 #21BR,1BA$695
Manor Park Apartments1 Bed / 1 Bath1BR,1BA$700
Overton Place1BR 1B1BR,1BA$725
The GilmoreSmall EfficiencyStudio,1BA$738
Vinton Avenue Apartments2BR/1.0BA2BR,1BA$750
Central GardensStudio One Bath1BR,1BA$775
The Drew @ Medical DistrictOne Bed1BR,1BA$790

Best Value Apartments for Rent in Peabody, TN

As of March 22, 2025 the best value apartment in the Peabody area is the $0.40 price per square foot 2006 Felix Ave Model at 2006 Felix Ave, Unit 1 in the in the East Memphis neighborhood starting from $700. The second greatest value Peabody apartment is the 1229 Vinton Ave Model at 1229 Vinton Ave, Unit 1 starting at $1,150 with a $0.85 price per square foot in the Medical District neighborhood. Here is today’s list of the best values for Peabody apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
2006 Felix Ave, Unit 12006 Felix Ave1BR,1BA$0.40
1229 Vinton Ave, Unit 11229 Vinton Ave2BR,1BA$0.85
994 Philadelphia St, Unit 994994 Philadelphia St1BR,1BA$0.77
The Avalon2 Bed/2 Bath2BR,2BA$1.04
Stonewall Apartments2 Bed 1.5 Bath2BR,1.5BA$0.81
1920 Lamar Ave, Unit APT 11920 Lamar Ave2BR,1BA$1.05
Audubon DownsOne Bedroom1BR,1BA$0.98
Vinton Avenue Apartments2BR/1.0BA2BR,1BA$0.91
Parkside Poplar Apartments1 Bedroom1BR,1BA$1.05
Idlewild Terrace1BR/1.0BA1BR,1BA$0.99

Quick Rent Budget Calculator

How much rent can you afford?

The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.

decorative image of people with a giant lease agreement

Pet Friendly Lifestyle
Peabody, Memphis, TN

Ranked #7

Among neighborhoods in Memphis, TN for Apartment listings with Pet Friendly Amenities

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

decorative image of woman handing cat to small boy

Lifestyle Ratings

ApartmentHomeLiving brings you Lifestyle Ratings of rentals and neighborhoods across the USA, including Memphis. Lifestyle Ratings show you the best fit for your needs and interests. This takes in many factors including rankings of the best places for the best proximity to parks and outdoor amenities, luxury amenities, transit availability, pet-friendly communities, multifamily communities for the kids, and other valuable search options. Use Lifestyle Search in the site filter options on this page - and find your Perfect place!

Frequently Asked Questions about Cheap Peabody Apartments

What is the Cheapest Studio apartment in Peabody?

Currently the most affordable Cheap Studio Apartment in Peabody is at SoMa 23 listed at $650.

How much is rent for a Cheap One Bedroom Peabody Apartment?

The lowest price for a Cheap One Bedroom Peabody Apartment is $550 at 165 N Merton.

What is the lowest price for a Cheap Two Bedroom Peabody Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Peabody is starting from $750 at Vinton Avenue Apartments.

What is the most affordable Peabody Three Bedroom Apartment?

The best deal on a cheap Peabody Three Bedroom Apartment rental is at Manor Park Apartments and starts from $1,000.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

The rental experts at ApartmentHomeLiving.com provide you with top advice, tools, and tips for understanding the leasing process and finding the perfect rental. Here are a few helpful rental and leasing articles from our experts to guide you on your search.

decorative image for Understanding Amenity Fees: Know Where You Might Be Able to Save Money article

Understanding Amenity Fees: Know Where You Might Be Able to Save Money

Written by: Amber Kanuckel

With the rising costs of housing, a lot of renters are asking this question: Is it possible to opt out of various amenities that your rental property offers so that you can avoid paying the fees.

decorative image for What to Know About Fees and Fines When Renting article

What to Know About Fees and Fines When Renting

Written by: Trey Huguley

When it comes to renting a new apartment or home there can be a number of fees that you will want to keep in mind going into the process.

decorative image for Battling the Butts: Your Guide to the Reality of Smoke-Free Renting article

Battling the Butts: Your Guide to the Reality of Smoke-Free Renting

Written by: Andrea Lee Negroni, JD

While many apartment buildings are “no smoking” properties, it’s hard to know exactly how many. In 2017, the National Apartment Association reported more than half of rental properties had smoke free policies.

decorative image for How Your Move-In Inspection Can Protect Your Security Deposit article

How Your Move-In Inspection Can Protect Your Security Deposit

Written by: Christine Leonard, Esq.

If you’re anything like most people, housing costs represent a huge chunk of your monthly budget. On top of that, moving can be both a stressful and expensive affair.