Cheap Apartments for Rent in the Peabody Neighborhood of Memphis, TN from $300 (76 Rentals) Page 2 of 2
Search the lowest-cost Apartments available for rent right now in the Peabody area of Memphis.
Smart Renter's Guide: Calculating Affordable Rent & Housing Costs
Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.
Navigating the Rental Market: Tips for First-Time Renters
Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.
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 | $957 | $200 | $1,794 |
| Peabody 1 Bedroom Apartments | $1,177 | $695 | $2,040 |
| Peabody 2 Bedroom Apartments | $1,436 | $625 | $3,400 |
| Peabody 3 Bedroom Apartments | $2,496 | $1,375 | $6,556 |
| Peabody 4 Bedroom Apartments | $2,101 | $1,500 | $3,738 |
Browse Apartments in this Neighborhood
There are currently 76 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 the Cheapest Studio apartment in Peabody?
Currently the most affordable Cheap Studio Apartment in Peabody is at The Pulse Apartments listed at $634.
How much is rent for a Cheap One Bedroom Peabody Apartment?
The lowest price for a Cheap One Bedroom Peabody Apartment is $550 at 165 N Merton.
What is the lowest price for a Cheap Two Bedroom Peabody Apartment for rent?
Today's best deal for a Cheap Two Bedroom Apartment in Peabody is starting from $760 at Barron Court.
What is the most affordable Peabody Three Bedroom Apartment?
The best deal on a cheap Peabody Three Bedroom Apartment rental is at Kings Reserve Memphis and starts from $1,375.
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.
Articles, How-To's, and Tips

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

Renting with Roommates: Realistic Expectations for Shared Lease
Written by: Christine Leonard, Esq.
Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.

Apartment Common Area Rules: What Renters Need to Know
Written by: Christine Leonard, Esq.
Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.

How to Negotiate Your Apartment Lease and Save Money
Written by: Christine Leonard, Esq.
Everything is a negotiation in real estate!

























