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. Brentwood Parc has the second lowest priced unit, which is a 2 Beds 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
Brentwood Parc2 Bed/ 2 Bath2BR,1BA$750
Tillman Cove1-A TYPE B 60%1BR,1BA$839
Audubon DownsOne Bedroom1BR,1BA$854
Georgian Woods2x12BR,1BA$979

Best Value Apartments for Rent in Tobey Park, TN

As of April 17, 2026 the best value apartment in the Tobey Park area is the $1.04 price per square foot 3 Bed 2 Bath Model at Parkway Arms Apartments in the in the East Memphis neighborhood starting from $1,450. The second greatest value Tobey Park apartment is the 3BD/1BA Downstairs Model at Hollywood Square starting at $1,225 with a $1.02 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 Apartments3 Bed 2 Bath3BR,2BA$1.04
Hollywood Square3BD/1BA Downstairs3BR,1BA$1.02
Brentwood Parc2 Bed/ 2 Bath Towhnome2BR,2BA$0.83
Georgian Woods2x12BR,1BA$1.09
Tillman Cove2-G TYPE B 60% BDC2BR,2BA$2.08
Addison Apartments II2 Beds, 1 bath2BR,1BA$1.17
Audubon DownsOne Bedroom1BR,1BA$1.01
165 N Merton1BR/1.0BA1BR,1BA$4.40

Frequently Asked Questions about Cheap Tobey Park Apartments

What is the price of a cheap apartment in Tobey Park?

The cheapest apartment in Tobey Park is 165 N Merton which is listed at $550, while the average apartment in Tobey Park costs $1,187.

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.

How do the prices of cheap apartments compare to the average apartment in Tobey Park?

Cheap apartments in Tobey Park have an average cost of $502 which is $685 cheaper than the average rent for all rentals in Tobey Park.

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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