
Cheap Homes for Rent in Peabody Neighborhood of Memphis, TN from $600 (63 Rentals)
Search the lowest-cost Homes available for rent right now in the Peabody area of Memphis.


802 Cella St

462 Glankler St

2417 Deadrick Ave

489 Belt Line St

677 Buntyn St

2269 Longstreet Dr

2267 Longstreet Dr

1567 David St

433 Carpenter St
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.

339 Boston St

1459 Cooper St

2766 Union Ave

2115 Bennett Ave

632 N Montgomery St

858 Pendleton St

781 David St

802 PENDLETON St

1535 Southern Ave
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.

310 S Cleveland St

1320 Faxon Ave

2088 Elzey Ave

45 N Belvedere Blvd

1507 Wilson St

1399 Tunstall St

180 Clark Pl

150 N McLean Blvd
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.

1066 Greenlaw Ave

2629 Whitman Ave

1470 Ethlyn Ave

2011 Waverly

2168 Carnes Ave

1554 Tutwiler Ave

394 S Fenwick Rd

380 N Willett St

1036 Oakview St

477 Marianna St

2023 Young Ave

585 N Avalon St

1549 Pillow St

1393 Gold Ave

24 N Cooper St

2842 Yale Ave

32 N Belvedere Blvd

Welcome to your new home in Memphis, TN!

2027 Southern Ave

2428 Lamar Cir

2426 Lamar Cir

675 Baltimore St

1552 Tutwiler Ave
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 | $1,221 | $650 | $2,500 |
Peabody 3 Bedroom Homes for Rent | $1,614 | $795 | $3,170 |
Peabody 4 Bedroom Homes for Rent | $1,795 | $995 | $3,900 |
Peabody 5 Bedroom Homes for Rent | $2,278 | $1,250 | $3,995 |
Peabody 6 Bedroom Homes for Rent | $3,400 | $3,400 | $3,400 |
Browse Homes for Rent in this Neighborhood
There are currently 63 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
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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 Village Square priced from $695. Manor Park Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $700. Here are the most affordable Peabody apartments for rent in Memphis, TN:
Apartment Listing | Model Name | Bed/Bath | Priced From |
---|---|---|---|
Village Square | 2054 #2 | 1BR,1BA | $695 |
Manor Park Apartments | 1 Bed / 1 Bath | 1BR,1BA | $700 |
Overton Place | Studio | Studio,1BA | $725 |
The Gilmore Apartments | Studio-Available | Studio,1BA | $765 |
Midtown Place | Tuscany 1B1B | 1BR,1BA | $771 |
Central Gardens | Studio One Bath | 1BR,1BA | $775 |
Belvedere Gardens Condominiums | 1x1 Bath | 1BR,1BA | $775 |
Idlewild Terrace | 1BR/1.0BA | 1BR,1BA | $795 |
Azur Tower | 1 Bedroom 1 Bathroom | 1BR,1BA | $800 |
Kimbrough Towers | A2 | 1BR,1BA | $800 |
Best Value Apartments for Rent in Peabody, TN
As of May 28, 2025 the best value apartment in the Peabody area is the $0.89 price per square foot Spacious Model at 1468 Snowden Ave in the in the Midtown Memphis neighborhood starting from $1,500. The second greatest value Peabody apartment is the 4 BED TOWNHOME Model at Cane Creek Apartments starting at $1,150 with a $0.70 price per square foot in the South 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. |
---|---|---|---|
1468 Snowden Ave | Spacious | 2BR,1.5BA | $0.89 |
Cane Creek Apartments | 4 BED TOWNHOME | 4BR,2BA | $0.70 |
994 Philadelphia St, Unit 994 | 994 Philadelphia St | 1BR,1BA | $0.77 |
Stonewall Apartments | 2 Bed 1.5 Bath | 2BR,1.5BA | $0.81 |
Hollywood Square | 2BD/1BA Downstairs | 2BR,1BA | $1.00 |
2291 Monroe Ave, Unit 2291 Monroe Ave. | 2291 Monroe Ave | 1BR,1BA | $0.89 |
Georgian Woods | 2x1 | 2BR,1BA | $1.08 |
1101 S Rembert St, Unit 1101 | 1101 S Rembert St | 1BR,1BA | $0.83 |
Audubon Downs | One Bedroom | 1BR,1BA | $1.01 |
Parkside Poplar Apartments | 1 Bedroom | 1BR,1BA | $1.05 |
Quick Rent Budget Calculator
How much rent can you afford?
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Frequently Asked Questions about Peabody
What type of rentals are currently available in Peabody?
There are currently 651 Apartments for Rent in Peabody, TN with pricing that ranges from $695 to $16,310. There are also 179 Single Family Homes for rent, Condos, and Townhome rentals currently available in Peabody ranging from $650 to $3,995.
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 $3,995 with an average monthly rent of $1,829.
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 $1,000 to $4,500, while Three Bedroom Homes, Condos, and Townhomes for rent range from $795 to $3,170. Four Bedroom Single-Family rentals are also available starting from $995 and Four Bedroom Apartments start at $2,100.
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.

The Art of the Rental Viewing: What to look for during a property tour
Written by: Marie Brown
You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.

Know Your Budget: Calculating What You Can Realistically Afford When Renting
Written by: Lauren Harrington
Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.

The Freedom of Short-Term Leases: Exploring the Advantages for Renters
Written by: Bobbi Jackson
If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.

Navigating the Rental Market: Tips for First-Time Renters
Written by: Sandy Baker
Making the decision to rent is exciting and terrifying at the same time. For many people, there are a lot of unknowns.