781 David St
MemphisTN38114
Cheap Homes for Rent in Peabody Neighborhood of Memphis, TN from $600 (65 Rentals)
Search the lowest-cost Homes available for rent right now in the Peabody area of Memphis.
1907 S Pkwy E
MemphisTN38114
1393 Lapaloma St
MemphisTN38114
2413 Deadrick Ave
MemphisTN38114
684 Lipford St
MemphisTN38112
2966 Yale Ave
MemphisTN38112
1639 Southern Ave
MemphisTN38114
2603 Carnes Ave
MemphisTN38114
993 Oakview St
MemphisTN38114
2859 NATHAN Ave
MemphisTN38112
Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between
Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.
2766 Union Ave
MemphisTN38111
2766 Union Ave
MemphisTN38111
2917 Yale Ave
MemphisTN38112
2054 Jefferson Ave
MemphisTN38104
2766 Union Ave
MemphisTN38111
2766 Union Ave
MemphisTN38111
2766 Union Ave
MemphisTN38111
2906 Mimosa Ave
MemphisTN38112
2269 LONGSTREET Dr
MemphisTN38114
1434 Lapaloma St
MemphisTN38114
Roommate Matching: Finding the Right Fit and Avoiding Pitfalls
When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.
750 Lipford St
MemphisTN38112
808 Columbia St
MemphisTN38112
1659 Cooper St
MemphisTN38114
1417 Rayner St
MemphisTN38106
2147 Turner Ave
MemphisTN38114
1450 Peabody Ave
MemphisTN38104
269 Williford St
MemphisTN38112
1001 Tanglewood St
MemphisTN38104
580 Josephine St
MemphisTN38111
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$9252 Bedroom Apartments Available Now
2300 Elzey Ave
2300 Elzey AveMemphis, TN 38104
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.
528 E Pkwy N, Unit 15
528 E Pkwy N
MemphisTN38112
1066 Greenlaw Ave
MemphisTN38105
2168 Carnes Ave
MemphisTN38114
1390 Grand St
MemphisTN38114
2415 Arlington Ave
MemphisTN38114
749 Bey St
MemphisTN38114
2020 Courtland Pl
MemphisTN38104
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$1,0001 Bedroom Apartments Available Mar 20
2098 Court Ave
2098 Court AveMemphis, TN 38104
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$1,0001 Bedroom Apartments Available Now
159 N Belvedere Blvd
159 N Belvedere BlvdMemphis, TN 38104
2915 Felix Ave
MemphisTN38111
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.
2325 Riley Ave
MemphisTN38114
2013 Waverly Av.
MemphisTN38114
191 N Avalon St
MemphisTN38112
2914 Hoskins Rd
MemphisTN38114
2717 Carnes Ave
MemphisTN38114
1540 Tutwiler Ave
MemphisTN38107
2395 Forest Ave
MemphisTN38112
1542 Tutwiler Ave
MemphisTN38107
3049 Carnes Ave
MemphisTN38111
654 Anderson St
MemphisTN38104
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.
Peabody, Memphis, TN Local Guide
How much does it cost to rent a home in Peabody?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Peabody 2 Bedroom Homes for Rent | $1,225 | $720 | $3,500 |
| Peabody 3 Bedroom Homes for Rent | $1,599 | $750 | $3,200 |
| Peabody 4 Bedroom Homes for Rent | $1,777 | $1,150 | $2,950 |
| Peabody 5 Bedroom Homes for Rent | $2,754 | $1,650 | $4,900 |
| Peabody 6 Bedroom Homes for Rent | $3,600 | $2,200 | $5,200 |
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
Browse Homes for Rent in this Neighborhood
There are currently 65 rentals with your search options within a 2 mile radius of the Peabody Neighborhood of Memphis, TN.
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Peabody, Memphis, TN Local Guide
- Nearby Memphis neighborhoods
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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 165 N Merton priced from $550. The Pulse Apartments has the second lowest priced unit, which is a Studio apartment currently listed from $634. Here are the most affordable Peabody apartments for rent in Memphis, TN:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| 165 N Merton | 1BR/1.0BA | 1BR,1BA | $550 |
| The Pulse Apartments | Studio 1 Bathroom | Studio,1BA | $634 |
| Melrose Court Apartments | 1 Bed, 1 bath | 1BR,1BA | $695 |
| The Gilmore Apartments | Studio Available 276sf | Studio,1BA | $699 |
| 1154 Wilson St | One Bed One Bath | 1BR,1BA | $699 |
| Village Square | 2054 #1 | 1BR,1BA | $715 |
| Kings Reserve Memphis | Peabody | Studio,1BA | $725 |
| 31 S McLean Blvd | Studio | Studio,1BA | $725 |
| Barron Court | Barron Court 2 Bedroom 1 Bath | 2BR,1BA | $783 |
Best Value Apartments for Rent in Peabody, TN
As of March 17, 2026 the best value apartment in the Peabody area is the $0.94 price per square foot 4 Bedroom Model at Barksdale Flats in the in the East Memphis neighborhood starting from $1,500. The second greatest value Peabody apartment is the 2 Bed 2 Bath Model at Parkway Arms Apartments starting at $1,300 with a $0.93 price per square foot in the East Memphis neighborhood. Here is today’s list of the best values for Peabody apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Barksdale Flats | 4 Bedroom | 4BR,2BA | $0.94 |
| Parkway Arms Apartments | 2 Bed 2 Bath | 2BR,2BA | $0.93 |
| Hollywood Square | 3BD/1BA Downstairs | 3BR,1BA | $1.02 |
| Stonewall Apartments | 2 Bed 1.5 Bath | 2BR,1.5BA | $0.81 |
| Park Terrace | 2 x 1 | 2BR,1BA | $1.03 |
| Urban Peddler | 2BR 1BA | 2BR,1BA | $1.02 |
| Audubon Downs | Two Bedroom | 2BR,1BA | $0.82 |
| Parkside Poplar Apartments | 1 Bedroom | 1BR,1BA | $0.98 |
| 1154 Wilson St | One Bed One Bath | 1BR,1BA | $0.87 |
| Barron Court | Barron Court 2 Bedroom 1 Bath | 2BR,1BA | $1.01 |
10 Hidden Costs of Renting You Should Budget for Before Signing a Lease
Avoid financial stress when renting. Learn about the 10 most common hidden costs—from pet fees to utilities—you must budget for before you sign a lease.
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College Life in Memphis: Affordable Neighborhoods Where Students Rent and Thrive
Where do Memphis students actually live? Our local expert reveals the best affordable neighborhoods to rent near U of M, Rhodes, and CBU. Get local tips & save on rent!
Read ArticleDon't Settle: How to Negotiate Your Apartment Lease and Save Money
Discover the insider tips from an attorney and real estate agent on how to negotiate your next apartment lease. Find out what's on the table and what's not, so you can save money and get the best terms possible.
Read ArticleThe Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro
Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.
Read ArticleCash or credit? Understanding the Importance of Credit Score in Real Estate and Renting
Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.
Read ArticleQuick Rent Budget Calculator
How much rent can you afford?
The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.
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Pet Friendly LifestylePeabody, Memphis, TN
Ranked #3
Among cities in Tennessee for Apartment listings with Pet Friendly Amenities.
Pet Friendliness Lifestyle Score
4.0Pet Friendly
Frequently Asked Questions about Peabody
What type of rentals are currently available in Peabody?
There are currently 648 Apartments for Rent in Peabody, TN with pricing that ranges from $634 to $6,860. There are also 188 Single Family Homes for rent, Condos, and Townhome rentals currently available in Peabody ranging from $650 to $5,200.
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 $650 to $5,200 with an average monthly rent of $2,007.
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 $1,150 to $6,555, while Three Bedroom Homes, Condos, and Townhomes for rent range from $750 to $3,200. Four Bedroom Single-Family rentals are also available starting from $1,150 and Four Bedroom Apartments start at $1,500.
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.
Maximizing Your Refund: Essential Tax Tips for Renters
Written by: Christine Leonard, Esq.
Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.
18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property
Written by: Lauren Harrington
Renting your next home can feel thrilling and overwhelming at the same time.
A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment
Written by: Bob Mallory
Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.