Cheap Apartments for Rent in Peterson, AL from $400 (45 Rentals)

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Search the lowest-cost Apartments available for rent right now in Peterson.

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

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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.

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Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.

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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.

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How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.

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Peterson, AL Local Guide

Cheapest Available Peterson Apartments for Rent and Nearby

 

The cheapest available apartment rental in Peterson, AL is a Studio unit found at Flex Studio Apartments in the Skyland McFarland neighborhood priced from $495. Cobblestone Court in the University of Alabama neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $630. Here is today’s list of the most affordable Peterson apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Flex Studio Apartments1BR/1.0BAStudio,1BA$495
Cobblestone CourtHardwood LVT Flooring UnitStudio,1BA$630
Riverbend Residences1x11BR,1BA$700
Forest Lake ApartmentsSmall One BR1BR,1BA$750
Regal Pointe Apartment HomesStudio - 1BathStudio,1BA$819
Ridge View Apartments1 BR 1 BA1BR,1BA$829
Brookstone Apartment Homes1Bed - 1Bath1BR,1BA$830
Mountain View Apartment Homes1 bed - 1 bath Efficiency1BR,1BA$839
Forrester Gardens Apartments2x12BR,1BA$845
Aspen Village Apartment Homes1 Bedroom 1 Bath Aspen Village1BR,1BA$855

Best Value Apartments for Rent in Peterson, AL and Nearby

As of June 12, 2026 the best value apartment in the Peterson area is the $0.79 price per square foot 4x4 TH Model at State Tuscaloosa in the in the University of Alabama neighborhood starting from $1,135. The second greatest value Peterson apartment is the A Model at The Overlook starting at $1,125 with a $0.81 price per square foot in the University of Alabama neighborhood. Here is today’s list of the best values for Peterson apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
State Tuscaloosa4x4 TH4BR,4BA$0.79
The OverlookA3BR,3BA$0.81
The Cottages at Lake Tamaha2BR/2BA - Birchmore Elite2BR,2.5BA$1.02
Court Woods Apartments2BR/2BA2BR,2BA$0.85
Williamsburg East2 Bed 2.5 Bath2BR,2.5BA$1.03
Copper Creek2Bed + 1.5 Bath Townhouse Reno2BR,1.5BA$0.93
Eastwood Manor2Bed - 1.5Bath - TH2BR,1.5BA$1.08
French Quarter ApartmentsOne Bedroom1BR,1BA$1.21
Forrester Gardens Apartments2x12BR,1BA$1.10
Riverbend Residences1x11BR,1BA$1.13

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.

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Real 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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Quick Rent Budget Calculator

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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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Remember the 3 Rules of Real Estate:
Location, Location, Location!

Explore Peterson, AL Rentals by Map

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Frequently Asked Questions about Cheap Peterson Apartments

What is the Cheapest Studio apartment in Peterson?

Currently the most affordable Cheap Studio Apartment in Peterson is at Flex Studio Apartments listed at $495.

How much is rent for a Cheap One Bedroom Peterson Apartment?

The lowest price for a Cheap One Bedroom Peterson Apartment is $700 at Riverbend Residences.

What is the lowest price for a Cheap Two Bedroom Peterson Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Peterson is starting from $845 at Forrester Gardens Apartments.

What is the most affordable Peterson Three Bedroom Apartment?

The best deal on a cheap Peterson Three Bedroom Apartment rental is at Aspen Village Apartment Homes and starts from $1,055.

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

decorative image for How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide article

How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Written by: Robin Stewart

Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.

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Pet-Friendly Renting: Everything You Need to Know Before You Move

Written by: Christine Leonard, Esq.

For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.

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Creative Ways Developers Reimagine Retail Spaces as Residential Units

Written by: Robin Stewart

Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.

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Neighborhood and Market Insights: How to Choose the Right Area to Rent

Written by: Robin Stewart

Apartment-hunting can be a gargantuan task. Renters have a wish list of items—some luxuries, some necessities—but finding what you seek in the right place is perhaps the most important part of the journey.