Cheap Homes for Rent in Peabody Neighborhood of Memphis, TN from $600 (41 Rentals)

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

property at 2766 Union Ave

2766 Union Ave

MemphisTN38111
property at 24 N Cooper St

24 N Cooper St

MemphisTN38104
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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 23, 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

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Frequently Asked Questions about Peabody

What type of rentals are currently available in Peabody?

There are currently 655 Apartments for Rent in Peabody, TN with pricing that ranges from $595 to $13,880. There are also 140 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 $2,113.

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 $4,610, 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.

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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.

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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.

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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.

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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.