Cheap Homes for Rent in Tobey Park Neighborhood of Memphis, TN from $500 (20 Rentals)

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

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 Article

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.

Read Article

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.

Read Article
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Tobey Park, Memphis, TN Local Guide

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 Tillman Cove priced from $750. Audubon Downs has the second lowest priced unit, which is a 2 Beds apartment currently listed from $899. Here are the most affordable Tobey Park apartments for rent in Memphis, TN:

Apartment ListingModel NameBed/BathPriced From
Tillman Cove1-A TYPE B 70%1BR,1BA$750
Audubon DownsTwo Bedroom2BR,1BA$899
Addison Apartments IIIAddison I2BR,1BA$995
Hollywood Square2BD/1BA Upstairs2BR,1BA$995
Georgian Woods2x12BR,1BA$999

Best Value Apartments for Rent in Tobey Park, TN

As of October 14, 2025 the best value apartment in the Tobey Park area is the $1.00 price per square foot 2BD/1BA Upstairs Model at Hollywood Square in the in the East Memphis neighborhood starting from $995. The second greatest value Tobey Park apartment is the Two Bedroom Model at Audubon Downs starting at $899 with a $0.93 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.
Hollywood Square2BD/1BA Upstairs2BR,1BA$1.00
Audubon DownsTwo Bedroom2BR,1BA$0.93
Georgian Woods2x12BR,1BA$1.11
Addison Apartments IIIAddison I2BR,1BA$1.28
Tillman Cove1-A TYPE B 70%1BR,1BA$1.15
Central LoftsMadison1BR,1BA$2.20

Quick Rent Budget Calculator

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Pet Friendly Lifestyle
Tobey Park, Memphis, TN

Ranked #60

Among cities in Tennessee for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

2.5
Pet Friendly

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Frequently Asked Questions about Tobey Park

What type of rentals are currently available in Tobey Park?

There are currently 91 Apartments for Rent in Tobey Park, TN with pricing that ranges from $750 to $7,782. There are also 48 Single Family Homes for rent, Condos, and Townhome rentals currently available in Tobey Park ranging from $500 to $2,495.

What is the current price range for Rental Homes in Tobey Park?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Tobey Park ranges from $500 to $2,495 with an average monthly rent of $1,320.

How much are larger Three and Four Bedroom Rentals in Tobey Park?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Tobey Park range from $1,149 to $2,200, while Three Bedroom Homes, Condos, and Townhomes for rent range from $995 to $1,950. Four Bedroom Single-Family rentals are also available starting from $984 and Four Bedroom Apartments start at $1,276.

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.

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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate! 

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The Rental Move-In Inspection Checklist: A Guide for Renters

Written by: Trey Huguley

The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.

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Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Written by: Christine Leonard, Esq.

For many people, obstacles can arise during the rental application process for a variety of issues.

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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Written by: Christine Leonard, Esq.

Hard truth. Moving is never easy. I’ve done it all – from local moves to cross-country relocations From packing to unpacking the last box, I have found moving to be an exhausting, expensive and stressful experience every time.