Cheap Homes for Rent in Peterson Park Neighborhood of Tempe, AZ from $800 (16 Rentals)

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

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Peterson Park, Tempe, AZ Local Guide

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 315sqftStudio,1BA$899
Grandes CortesStudioStudio,1BA$949
Lyndon LaneOne Bed One Bath1BR,1BA$975
Sentry TempeKonaStudio,1BA$994

Best Value Apartments for Rent in Peterson Park, AZ

As of April 13, 2025 the best value apartment in the Peterson Park area is the $1.65 price per square foot 3 Bed/2 Bath Model at Sanctuary at South Mountain in the in the South Phoenix neighborhood starting from $2,300. The second greatest value Peterson Park apartment is the 3A Model at San Portella starting at $2,250 with a $1.72 price per square foot in the Downtown Tempe 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.
Sanctuary at South Mountain3 Bed/2 Bath3BR,2BA$1.65
San Portella3A3BR,2BA$1.72
Aria on MillC1R2BR,2BA$1.70
San PalmillaOne Bedroom/One Bath1BR,1BA$1.68
505 WestSaguaro2BR,1BA$1.53
The Pointe at South Mountain1 Bedroom 1 Bathroom F1BR,1BA$1.69
Tides at Park ViewB12BR,1BA$1.53
Sofia ApartmentsThe Bronte (2x1)2BR,1BA$1.58
Highland Park1x1 Reno1BR,1BA$1.78
Omnia BaselineA1RWD1BR,1BA$1.68

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Frequently Asked Questions about Peterson Park

What type of rentals are currently available in Peterson Park?

There are currently 160 Apartments for Rent in Peterson Park, AZ with pricing that ranges from $699 to $5,560. There are also 128 Single Family Homes for rent, Condos, and Townhome rentals currently available in Peterson Park ranging from $850 to $5,995.

What is the current price range for Rental Homes in Peterson Park?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Peterson Park ranges from $850 to $5,995 with an average monthly rent of $2,597.

How much are larger Three and Four Bedroom Rentals in Peterson Park?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Peterson Park range from $1,095 to $4,815, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,300 to $4,000. Four Bedroom Single-Family rentals are also available starting from $2,080 and Four Bedroom Apartments start at $1,045.

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

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

Written by: Andrew Jollett

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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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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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.

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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.