
Cheap Apartments for Rent in the Peabody Neighborhood of Memphis, TN from $300 (190 Rentals) Page 2 of 4
Search the lowest-cost Apartments available for rent right now in the Peabody area of Memphis.


34 N Idlewild St

45-47 N Humes St

Goodbar Townhomes

The Biltmore - McAlpin Apartments

Cherokee Arms

Marilyn on Monroe

The Flats @ Cooper Young

Art Lofts @ Overton

Peabody Falls Apartments
How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide
Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.

2008 Courtland Pl

36 N Auburndale St

Madison Gardens Apartments

Total Monthly Price
Merton Manor

1860-1862 Court Ave

2717 Carnes Ave

1954 Manila Ave

Overton Garden Apartments

Hollywood Square

215 N Bellevue Blvd
Memphis, Tennessee: A Local Expert's Insider Guide to the Bluff City
Moving to the Bluff City? Get the insider’s guide on Memphis life, from specific neighborhood personalities and current average rent, to the best barbecue and live music spots.

2024 Jefferson Ave, Unit 2046-04

The Linden

The Galloway @ Evergreen

Belvedere Place

Idlewild 45

2483 Harvard Ave

159 N Belvedere Blvd, Unit 1

Link Apartments® Broad Ave

2853 Sage Rd

2325 Riley Ave
The Local Memphis Expert's Guide to Renting Near the City's Top Employers
Memphis apartment guide from a local expert, breaking down neighborhoods, average rent, and ideal commute times near the 5 largest employers - FedEx, St. Jude, U of M, Methodist, and AutoZone.

Madison Midtown

Georgian Woods

The Melrose Midtown

Evergreen Terrace

1161 Poplar

412 N Montgomery St

2984 Waverly Ave

The Midtowner

354 Williford St

2947 Carnes Ave
Affordable Memphis: The Best Neighborhoods with Character and Lower Rents
Explore affordable Memphis neighborhoods like Victorian Village, Medical District, South Memphis, and Uptown. Find apartments where your rent goes further.

939 Seattle St

411 Tillman St

321 Pauline St

Divine Properties Complex

230 Cochran St

Peach Apartments

165 N Merton

2077 Lowell Ave

Medical Center Apartments

Edgewood Townhomes
The Art of the Rental Viewing: What to look for during a property tour
Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.
Peabody, Memphis, TN Local Guide

How much does it cost to rent an apartment in Peabody?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Peabody Studio Apartments | $967 | $634 | $1,500 |
| Peabody 1 Bedroom Apartments | $1,217 | $495 | $2,055 |
| Peabody 2 Bedroom Apartments | $1,451 | $750 | $3,400 |
| Peabody 3 Bedroom Apartments | $1,710 | $825 | $3,400 |
| Peabody 4 Bedroom Apartments | $2,000 | $1,850 | $2,150 |
Browse Apartments in this Neighborhood
There are currently 190 rentals with your search options within a 2 mile radius of the Peabody Neighborhood of Memphis, TN.
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Frequently Asked Questions about Cheap Peabody Apartments
What is a cheap apartment in Peabody?
A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Peabody is under $750.
What is the price of a cheap apartment in Peabody?
The cheapest apartment in Peabody is 165 N Merton which is listed at $550, while the average apartment in Peabody costs $2,000.
What types of apartments are the cheapest in Peabody?
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 90 regular apartments in Peabody 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 Peabody?
Cheap apartments in Peabody have an average cost of $607 which is $1,393 cheaper than the average rent for all rentals in Peabody.
Expert Rental Resources
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.
Helpful Local Expert Guides

Affordable Memphis: The Best Lower Priced Neighborhoods with Character
Written by: Joshua Carlucci
I’m Josh, your ApartmentHomeLiving.com Local Expert for Memphis.

College Life in Memphis: Affordable Neighborhoods Where Students Really Live and Thrive
Written by: Joshua Carlucci
I’m Josh, your ApartmentHomeLiving.com Local Expert for Memphis.

The Local Memphis Experts Guide to Renting Near the Citys Top Employers
Written by: Joshua Carlucci
I'm Josh, your ApartmentHomeLiving.

Memphis, Tennessee: A Local Experts Insider Guide to the Bluff City
Written by: Joshua Carlucci
Hello from Memphis, Tennessee. I'm Josh, your ApartmentHomeLiving.com Local Expert for Memphis, and I spent years in this city eating, writing, cooking, studying, and getting to know it block by block.
Articles, How-To's, and Tips

Renters Insurance 101: What It Is, What It Covers, and Why You Need It
Written by: Robin Stewart
Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.

Apartment Occupancy Rates: Renter Attraction vs Renter Retention
Written by: Robin Stewart
There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.

How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide
Written by: Robin Stewart
Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.

Pet-Friendly Renting: Everything You Need to Know Before You Move
Written by: Christine Leonard, Esq.
For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.