Cheap Apartments for Rent in the Tobey Park Neighborhood of Memphis, TN from $500 (18 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Tobey Park area of Memphis.

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37-47 Merton St
2 Bedroom Apartments

37-47 Merton St

37-47 Merton StMemphis, TN 38112

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165 N Merton
1 Bedroom Apartments

165 N Merton

165 N Merton StMemphis, TN 38112
Student Housing

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The Marie
1 to 2 Bedroom Apartments

The Marie

160 Hayden PlMemphis, TN 38111

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Showing Results 1-18, Page 1 of 1

Cheapest Available Tobey Park Apartments for Rent

 

The cheapest available apartment rental in the Tobey Park area of Memphis, TN is a 1 Bed unit found at 165 N Merton priced from $550. Tillman Cove has the second lowest priced unit, which is a 1 Bed apartment currently listed from $750. Here are the most affordable Tobey Park apartments for rent in Memphis, TN:

Apartment ListingModel NameBed/BathPriced From
165 N Merton1BR/1.0BA1BR,1BA$550
Tillman Cove1-A TYPE B 70%1BR,1BA$750
Audubon DownsOne Bedroom1BR,1BA$854
Hollywood Square2BD/1BA Upstairs2BR,1BA$995
Georgian Woods2x12BR,1BA$999

Best Value Apartments for Rent in Tobey Park, TN

As of January 14, 2026 the best value apartment in the Tobey Park area is the $0.93 price per square foot 2 Bed 2 Bath Model at Parkway Arms Apartments in the in the East Memphis neighborhood starting from $1,300. The second greatest value Tobey Park apartment is the 2BD/1BA Upstairs Model at Hollywood Square starting at $995 with a $1.00 price per square foot in the East Memphis neighborhood. Here is today’s list of the best values for Tobey Park apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Parkway Arms Apartments2 Bed 2 Bath2BR,2BA$0.93
Hollywood Square2BD/1BA Upstairs2BR,1BA$1.00
Georgian Woods2x12BR,1BA$1.11
Tillman Cove2-G TYPE B 60% BDC2BR,2BA$2.08
Audubon DownsOne Bedroom1BR,1BA$1.01
Central LoftsMadison1BR,1BA$2.20
165 N Merton1BR/1.0BA1BR,1BA$4.40

Frequently Asked Questions about Cheap Tobey Park Apartments

What types of apartments are the cheapest in Tobey Park?

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 7 regular apartments in Tobey Park that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

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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