Cheap Homes for Rent in Peabody Neighborhood of Memphis, TN from $700 (56 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

Know Your Rights - How Discrimination Laws Impact Landlords and Tenants

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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 Manor Park Apartments priced from $700. Overton Place has the second lowest priced unit, which is a Studio apartment currently listed from $725. Here are the most affordable Peabody apartments for rent in Memphis, TN:

Apartment ListingModel NameBed/BathPriced From
Manor Park Apartments1 Bed / 1 Bath1BR,1BA$700
Overton PlaceStudioStudio,1BA$725
Village Square2048 #21BR,1BA$725
Belvedere Gardens Condominiums1x1 Bath1BR,1BA$775
Idlewild Terrace1BR/1.0BA1BR,1BA$795
Central GardensOne Bedroom One Bath Elevator1BR,1BA$825
Midtown PlaceSt Regis - 1B1B1BR,1BA$839
Parkway Place ApartmentsStudioStudio,1BA$850
Park TerraceStudioStudio,1BA$850

Best Value Apartments for Rent in Peabody, TN

As of April 26, 2025 the best value apartment in the Peabody area is the $0.80 price per square foot 315 Stonewall St Model at 315 Stonewall St, Unit 311 Stonewall in the in the Midtown Memphis neighborhood starting from $1,999. The second greatest value Peabody apartment is the Spacious Model at 1468 Snowden Ave starting at $1,500 with a $0.89 price per square foot in the Midtown Memphis 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.
315 Stonewall St, Unit 311 Stonewall315 Stonewall St3BR,2.5BA$0.80
1468 Snowden AveSpacious2BR,1.5BA$0.89
1229 Vinton Ave, Unit 11229 Vinton Ave2BR,1BA$0.85
Stonewall Apartments2 Bed 1.5 Bath2BR,1.5BA$0.81
88 N Willett St, Unit #388 N Willett St1BR,1BA$1.09
Hollywood Square2BD/1BA Downstairs2BR,1BA$1.05
2291 Monroe Ave, Unit 2291 Monroe Ave.2291 Monroe Ave1BR,1BA$0.89
1101 S Rembert St, Unit 11011101 S Rembert St1BR,1BA$0.90
2203 Young Ave, Unit 2203 Young2203 Young Ave1BR,1BA$1.00
Audubon DownsOne Bedroom1BR,1BA$1.01

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Frequently Asked Questions about Peabody

What type of rentals are currently available in Peabody?

There are currently 666 Apartments for Rent in Peabody, TN with pricing that ranges from $595 to $13,550. There are also 154 Single Family Homes for rent, Condos, and Townhome rentals currently available in Peabody ranging from $730 to $4,000.

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 $730 to $4,000 with an average monthly rent of $2,066.

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 $8,100, while Three Bedroom Homes, Condos, and Townhomes for rent range from $850 to $2,996. Four Bedroom Single-Family rentals are also available starting from $1,100 and Four Bedroom Apartments start at $1,285.

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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Rise of Digital Nomads: Remote Work Tips for Apartment Renters

Written by: Brandie Parton

As a digital nomad, you no longer call a set address or office building your home for eight hours of the day or more.

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Know Your Rights - How Discrimination Laws Impact Landlords and Tenants

Written by: Christine Leonard, Esq.

Everyone needs a place to live and to call home. For decades, the federal government has established protections to ensure that individuals and families can find housing free from discriminatory barriers.

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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.