Cheap Apartments for Rent in the Peterson Park Neighborhood of Tempe, AZ from $600 (36 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Peterson Park area of Tempe.

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Broadway Park
1 to 2 Bedroom Apartments

Broadway Park

1120 W Broadway RdTempe, AZ 85282
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Axio Apartments
1 to 2 Bedroom Apartments

Axio Apartments

740 W University DrTempe, AZ 85281
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Villa Nicole
2 Bedroom Apartments

Villa Nicole

1014 S Farmer AveTempe, AZ 85281
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The Vintage on College
1 to 2 Bedroom Apartments

The Vintage on College

1700 S College AveTempe, AZ 85281
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Corsican
2 Bedroom Apartments

Corsican

1312 S Hardy DrTempe, AZ 85281
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Decco 109
1 to 2 Bedroom Apartments

Decco 109

109 E Broadway RdTempe, AZ 85282
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Broadway 121
1 to 2 Bedroom Apartments

Broadway 121

121 E Broadway RdTempe, AZ 85282
Showing Results 1-36, Page 1 of 1

Peterson Park, Tempe, AZ Local Guide

Cheapest Neighborhoods for Apartments in Peterson Park, AZ

Pricing Updated: 03/21/2025

Current apartment rentals in the Peterson Park, AZ area range in price from to with an overall median price of . Here is today’s list neighborhoods with the lowest median pricing for Peterson Park Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units

Cheapest Available Peterson Park Apartments for Rent

 

The cheapest available apartment rental in the Peterson Park area of Phoenix, AZ is a Studio unit found at The Mod at Mills priced from $898. The Molino Apartments has the second lowest priced unit, which is a Studio apartment currently listed from $899. Here are the most affordable Peterson Park apartments for rent in Phoenix, AZ:

Apartment ListingModel NameBed/BathPriced From
The Mod at MillsS1Studio,1BA$898
The Molino ApartmentsStudio 325sqftStudio,1BA$899
Grandes CortesStudioStudio,1BA$949
Lyndon LaneOne Bed One Bath1BR,1BA$975
Studio 710 ApartmentsSmall Studio DeluxeStudio,1BA$1,000
Solaris On UniversityS1 -1 x 11BR,1BA$1,019
Parkside ApartmentsA11BR,1BA$1,150
Mission SpringsSaguaro - Junior One BedroomStudio,1BA$1,167
Avana TempeStudio - SophisticatedStudio,1BA$1,168

Best Value Apartments for Rent in Peterson Park, AZ

As of March 21, 2025 the best value apartment in the Peterson Park area is the $1.74 price per square foot 3A Model at San Portella in the in the Downtown Tempe neighborhood starting from $2,275. The second greatest value Peterson Park apartment is the 1808 W Village Way Model at 1808 W Village Way starting at $1,850 with a $1.61 price per square foot in the South Phoenix neighborhood. Here is today’s list of the best values for Peterson Park apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
San Portella3A3BR,2BA$1.74
1808 W Village Way1808 W Village Way3BR,2BA$1.61
Galleria PalmsCatalina Reno3BR,2BA$1.63
San PalmillaOne Bedroom/One Bath1BR,1BA$1.60
Corsican2 Bed - 1 Bath2BR,1BA$1.42
Sentry TempeSunset2BR,2BA$1.63
Tides at Park ViewB12BR,1BA$1.53
Mercury on MillReef - 2bed 1bath2BR,1BA$1.52
505 WestRillito1BR,1BA$1.63
Omnia BaselineA1P1BR,1BA$1.71

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Pet Friendly Lifestyle
Peterson Park, Tempe, AZ

Ranked #26

Among neighborhoods in Tempe, AZ for Apartment listings with Pet Friendly Amenities

Pet Friendliness Lifestyle Score

3.5
Pet Friendly

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Best Local Schools in
Peterson Park, Tempe, AZ

School data provided by Great Schools

Best Local Schools in
Peterson Park, Tempe, AZ

School data provided by Great Schools

Frequently Asked Questions about Cheap Peterson Park Apartments

What is a cheap apartment in Peterson Park?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Peterson Park is under $1,168.

What is the price of a cheap apartment in Peterson Park?

The cheapest apartment in Peterson Park is Lyndon Lane which is listed at $975, while the average apartment in Peterson Park costs $2,161.

What types of apartments are the cheapest in Peterson Park?

Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 768 regular apartments in Peterson Park that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

How do the prices of cheap apartments compare to the average apartment in Peterson Park?

Cheap apartments in Peterson Park have an average cost of $1,198 which is $963 cheaper than the average rent for all rentals in Peterson Park.

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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A Local Experts Guide to the Top 10 Budget Friendly Neighborhoods in Phoenix, AZ

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I'm Andrew, your ApartmHomeLiving.com local expert for Phoenix. My earliest memories of Phoenix date back to the mid-2000s when 2 of my sisters moved there (one for work and the other for school).

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

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