646 Lipford St
MemphisTN38112
Cheap Homes for Rent in the Peabody Neighborhood of Memphis, TN from $595 (56 Rentals)
Search the lowest-cost Homes available for rent right now in the Peabody area of Memphis.
2861 Nathan Ave
MemphisTN38112
2859 Nathan Ave
MemphisTN38112
464 Glankler St
MemphisTN38112
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$6951 Bedroom Apartments Available Now
1433 Court Ave
1433 Court AveMemphis, TN 38104
525 N Waldran Blvd
MemphisTN38105
2917 Yale Ave
MemphisTN38112
464 Lipford St
MemphisTN38112
859 Josephine St
MemphisTN38114
859 Carson St
MemphisTN38111
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.
1493 Gaither St
MemphisTN38106
291 Red Oak St
MemphisTN38112
144 N Auburndale St
MemphisTN38104
1434 Lapaloma St
MemphisTN38114
1457 Cooper St
MemphisTN38114
1639 Southern Ave
MemphisTN38114
1202 Tutwiler Ave
MemphisTN38107
1066 Greenlaw Ave
MemphisTN38105
682 Boston St, Unit 1 - 682
682 Boston St
MemphisTN38114
2115 Bennett Ave
MemphisTN38114
Rent According to Income: A Look at Income-Restricted Rentals
Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.
3019 CARNES Ave
MemphisTN38111
157 Stonewall St
MemphisTN38104
45 N Belvedere Blvd, Unit 102
45 N Belvedere Blvd
MemphisTN38104
446 Buntyn St
MemphisTN38111
2812 Amsden Ave
MemphisTN38112
2360 Forest Ave
MemphisTN38112
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$8951 Bedroom Apartments Available Now
2024 Jefferson Ave, Unit 2068-04
2024 Jefferson AveMemphis, TN 38104
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$8991 Bedroom Apartments Available Now
2024 Jefferson Ave, Unit 2046-04
2024 Jefferson AveMemphis, TN 38104
1306 Carr Ave
MemphisTN38104
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$9001 Bedroom Apartments Available Now
159 N Belvedere Blvd, Unit 2
159 N Belvedere BlvdMemphis, TN 38104
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.
528 E Pkwy N, Unit 9
528 E Pkwy N
MemphisTN38112
234 Hawthorne St
MemphisTN38112
1195 Dorothy Pl
MemphisTN38104
481 Marianna St
MemphisTN38111
155 N Auburndale St
MemphisTN38104
997 Meda St
MemphisTN38104
1882 E Person Ave
MemphisTN38114
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$9501 Bedroom Apartments Available Now
2053 Linden Ave, Unit 4
2053 Linden AveMemphis, TN 38104
527 Diana St
MemphisTN38104
1261 Central Ave, Unit 4
1261 Central Ave
MemphisTN38104
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.
585 E Parkway S, Unit 3
585 E Parkway S
MemphisTN38104
1486 Stevenson St
MemphisTN38106
324 Harrell St
MemphisTN38112
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$9951 Bedroom Apartments Available Now
2038 Southern Ave, Unit 2
2038 Southern AveMemphis, TN 38114
2234 Madison Ave
MemphisTN38104
1248 Greenwood St
MemphisTN38106
3049 Carnes Ave
MemphisTN38111
2089 S Parkway E
MemphisTN38114
686 Buntyn St
MemphisTN38114
2325 Riley Ave
MemphisTN38114
Renters Insurance 101: What It Is, What It Covers, and Why You Need It
From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.
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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 | $1,140 | $595 | $1,900 |
| Peabody 3 Bedroom Homes for Rent | $1,554 | $895 | $2,495 |
| Peabody 4 Bedroom Homes for Rent | $1,896 | $1,290 | $3,900 |
| Peabody 5 Bedroom Homes for Rent | $2,797 | $1,545 | $4,900 |
| Peabody 6 Bedroom Homes for Rent | $4,000 | $4,000 | $4,000 |
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 56 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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Best Value Homes for Rent in Peabody, TN
As of September 19, 2026 the best value rental home in the Peabody area is the $0.84 price per square foot 1539 N Parkway Model at 1539 N Parkway, Unit B in the Midtown Memphis neighborhood starting from $1,600. The second greatest value Peabody rental home is the 854 Josephine St Model at 854 Josephine St in the East Memphis neighborhood starting at $1,550 with a $0.97 price per square foot. Here is today’s list of the best values for Peabody homes based on price per square foot:
| Home Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| 1539 N Parkway, Unit B | 1539 N Parkway | 2BR, 2BA | $0.84 |
| 854 Josephine St | 854 Josephine St | 4BR, 2BA | $0.97 |
| 2020 Linden Ave | 2020 Linden Ave | 3BR, 1BA | $1.10 |
| 694 Hamilton St | 694 Hamilton St | 4BR, 2BA | $1.06 |
| 2325 Riley Ave | 2325 Riley Ave | 3BR, 1BA | $0.87 |
| 1542 Tutwiler Ave | 1542 Tutwiler Ave | 2BR, 1.5BA | $0.96 |
| 1540 Tutwiler Ave | 1540 Tutwiler Ave | 2BR, 1BA | $0.96 |
| 2089 S Parkway E | 2089 S Parkway E | 2BR, 1BA | $1.11 |
| 45 N Belvedere Blvd, Unit 102 | 45 N Belvedere Blvd | 2BR, 1BA | $1.03 |
| 1457 Cooper St | 1457 Cooper St | 2BR, 1BA | $1.02 |
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 Article
Don'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 ArticleNavigating 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.
Read ArticleReal Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University
From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.
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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 #7
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 654 Apartments for Rent in Peabody, TN with pricing that ranges from $634 to $9,509. There are also 181 Single Family Homes for rent, Condos, and Townhome rentals currently available in Peabody ranging from $595 to $4,900.
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 $595 to $4,900 with an average monthly rent of $1,520.
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 $895 to $3,920, while Three Bedroom Homes, Condos, and Townhomes for rent range from $895 to $2,495. Four Bedroom Single-Family rentals are also available starting from $1,290 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.
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Memphis, Tennessee: A Local Expert's Insider Guide to the Bluff City
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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.
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Rent According to Income: A Look at Income-Restricted Rentals
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The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.
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Renters want to find a great apartment, the right place for them, one that checks all the boxes of location, rental cost, amenities, safety, and more.