Cheap Homes for Rent in Tobey Park Neighborhood of Memphis, TN from $700 (24 Rentals)

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

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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. Audubon Downs has the second lowest priced unit, which is a 1 Bed apartment currently listed from $854. 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
Audubon DownsOne Bedroom1BR,1BA$854
Hollywood Square2BD/1BA Upstairs2BR,1BA$995
Georgian Woods2x12BR,1BA$999
Parkway Arms Apartments2 Bed 2 Bath2BR,2BA$1,300

Best Value Apartments for Rent in Tobey Park, TN

As of January 24, 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
165 N Merton1BR/1.0BA1BR,1BA$4.40

Frequently Asked Questions about Tobey Park

What type of rentals are currently available in Tobey Park?

There are currently 92 Apartments for Rent in Tobey Park, TN with pricing that ranges from $750 to $9,582. There are also 51 Single Family Homes for rent, Condos, and Townhome rentals currently available in Tobey Park ranging from $750 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 $750 to $2,495 with an average monthly rent of $1,290.

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 $1,995. Four Bedroom Single-Family rentals are also available starting from $1,195 and Four Bedroom Apartments start at $1,276.

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.

Articles, How-To's, and Tips

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Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.