
Cheap Homes for Rent in Peabody Neighborhood of Memphis, TN from $600 (40 Rentals)
Search the lowest-cost Homes available for rent right now in the Peabody area of Memphis.


462 Glankler St

1279 Carr Ave

489 Belt Line St

2766 Union Ave

1851 Cloverdale Dr

802 Pendleton St

1377 Wabash Ave

1058 Peabody Ave

72 N Belvedere Blvd

1244 Tutwiler Ave

1535 Southern Ave

330 Williford St

45 N Belvedere Blvd

339 Boston St

1066 Greenlaw Ave

1572 Tutwiler Ave

150 N McLean Blvd

151 N Belvedere Blvd

936 Philadelphia St

1589 Castalia St

2011 Waverly

632 N Montgomery St

2837 Shady Oak Ave

482 Marianna St

380 N Willett St

1553 Hamilton St

1347 E Trigg Ave

394 S Fenwick Rd

392 S Fenwick Rd

24 N Cooper St

2545 Spottswood Ave

1552 Tutwiler Ave

2229 Zanone Ave

685 Glankler St

1359 Linden Ave

129 Roberta Dr

2842 Yale Ave

1271 Poplar Ave

1248 Greenwood St
Peabody, Memphis, TN Local Guide

How much does it cost to rent a home in Peabody?
Bedroom | Average Rent | Cheapest Rent | Highest Rent |
---|---|---|---|
Peabody 2 Bedroom Homes for Rent | $1,304 | $825 | $2,500 |
Peabody 3 Bedroom Homes for Rent | $1,654 | $900 | $2,996 |
Peabody 4 Bedroom Homes for Rent | $1,896 | $1,150 | $3,600 |
Peabody 5 Bedroom Homes for Rent | $3,247 | $2,500 | $3,995 |
Peabody 6 Bedroom Homes for Rent | $3,400 | $3,400 | $3,400 |
Peabody 7 Bedroom Homes for Rent | $3,695 | $3,695 | $3,695 |
Browse Homes for Rent in this Neighborhood
There are currently 40 rentals with your search options within a 2 mile radius of the Peabody Neighborhood of Memphis, TN.
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Peabody, Memphis, TN Local Guide
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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 Listing | Model Name | Bed/Bath | Priced From |
---|---|---|---|
165 N Merton | 1BR/1.0BA | 1BR,1BA | $550 |
SoMa 23 | Studio Small | Studio,1BA | $650 |
Village Square | 2048 #2 | 1BR,1BA | $695 |
Manor Park Apartments | 1 Bed / 1 Bath | 1BR,1BA | $700 |
Overton Place | Studio | Studio,1BA | $725 |
Vinton Avenue Apartments | 2BR/1.0BA | 2BR,1BA | $750 |
Belvedere Gardens Condominiums | 1x1 Bath | 1BR,1BA | $775 |
Central Gardens | Studio One Bath | 1BR,1BA | $775 |
The Drew @ Medical District | One Bed | 1BR,1BA | $790 |
Best Value Apartments for Rent in Peabody, TN
As of April 05, 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 4 BED TOWNHOME Model at Cane Creek Apartments starting at $1,067 with a $0.65 price per square foot in the South Memphis neighborhood. Here is today’s list of the best values for Peabody apartments based on price per square foot:
Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
---|---|---|---|
2006 Felix Ave, Unit 1 | 2006 Felix Ave | 1BR,1BA | $0.40 |
Cane Creek Apartments | 4 BED TOWNHOME | 4BR,2BA | $0.65 |
1229 Vinton Ave, Unit 1 | 1229 Vinton Ave | 2BR,1BA | $0.85 |
994 Philadelphia St, Unit 994 | 994 Philadelphia St | 1BR,1BA | $0.77 |
The Avalon | 2 Bed/2 Bath | 2BR,2BA | $1.04 |
Stonewall Apartments | 2 Bed 1.5 Bath | 2BR,1.5BA | $0.81 |
Idlewild Terrace | 2BR/1.0BA | 2BR,1BA | $0.99 |
1101 S Rembert St, Unit 1101 | 1101 S Rembert St | 1BR,1BA | $0.90 |
Audubon Downs | One Bedroom | 1BR,1BA | $0.98 |
Vinton Avenue Apartments | 2BR/1.0BA | 2BR,1BA | $0.91 |
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Frequently Asked Questions about Peabody
What type of rentals are currently available in Peabody?
There are currently 662 Apartments for Rent in Peabody, TN with pricing that ranges from $595 to $13,400. There are also 136 Single Family Homes for rent, Condos, and Townhome rentals currently available in Peabody ranging from $600 to $3,995.
What is the current price range for Rental Homes in Peabody?
Today's rental pricing for Homes for Rent, Condos and Townhomes in Peabody ranges from $600 to $3,995 with an average monthly rent of $2,209.
How much are larger Three and Four Bedroom Rentals in Peabody?
For those who are looking for larger living arrangements, Three Bedroom Apartments in Peabody range from $1,000 to $4,435, while Three Bedroom Homes, Condos, and Townhomes for rent range from $900 to $2,996. Four Bedroom Single-Family rentals are also available starting from $1,150 and Four Bedroom Apartments start at $2,100.
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.

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.

Renting Smart: Lease Basics Every Renter Needs
Written by: Christine Leonard, Esq.
Often, in the excitement of finding a new place to live, there’s a rush to make it happen, and - too often - a new tenant signs a lease without reading it carefully.

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.

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.