Cheap Homes for Rent in Peterson Park Neighborhood of Tempe, AZ from $800 (36 Rentals)

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

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Showing Results 1-36, Page 1 of 1

Peterson Park, Tempe, AZ Local Guide

Cheapest Available Peterson Park Apartments for Rent

 

The cheapest available apartment rental in the Peterson Park area of Phoenix, AZ is a Studio unit found at Margo priced from $899. Tides at Park View has the second lowest priced unit, which is a 1 Bed apartment currently listed from $948. Here are the most affordable Peterson Park apartments for rent in Phoenix, AZ:

Apartment ListingModel NameBed/BathPriced From
MargoStudioStudio,1BA$899
Tides at Park ViewA11BR,1BA$948
The Pointe at South Mountain1 Bedroom 1 Bathroom B1BR,1BA$954
Palms at South MountainOne Bedroom, One Bath1BR,1BA$987
505 WestRillito1BR,1BA$995
The Molino Apartments1x1 600sqft1BR,1BA$999
Mercury on MillKona - 1bed 1bath1BR,1BA$999
Studio 710 ApartmentsSmall Studio DeluxeStudio,1BA$999

Best Value Apartments for Rent in Peterson Park, AZ

As of September 15, 2025 the best value apartment in the Peterson Park area is the $1.17 price per square foot 1320 S Ash Ave Model at 1320 S Ash Ave, Unit Main House in the in the Downtown Tempe neighborhood starting from $1,750. The second greatest value Peterson Park apartment is the 611 W 13th St Model at 611 W 13th St, Unit 611 starting at $2,100 with a $1.57 price per square foot in the Downtown Tempe neighborhood. Here is today’s list of the best values for Peterson Park apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
1320 S Ash Ave, Unit Main House1320 S Ash Ave2BR,1.5BA$1.17
611 W 13th St, Unit 611611 W 13th St3BR,2.5BA$1.57
525-539 W Pebble Beach2 Beds, 1 bath2BR,1BA$1.42
Corsican2 Bed - 1 Bath2BR,1BA$1.45
Avana CordobaB2RG - Sophisticated2BR,2BA$1.55
The Pointe at South Mountain1 Bedroom 1 Bathroom F1BR,1BA$1.49
Sofia ApartmentsThe Bronte (2x1)2BR,1BA$1.34
524 W Howe St, Unit 524524 W Howe St1BR,1BA$1.17
522 W Howe St, Unit 522522 W Howe St1BR,1BA$1.25
Palms at South MountainOne Bedroom, One Bath1BR,1BA$1.49

Quick Rent Budget Calculator

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Pet Friendly Lifestyle
Peterson Park, Tempe, AZ

Ranked #33

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

Pet Friendliness Lifestyle Score

3.0
Pet Friendly

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Best Local Schools in
Peterson Park, Tempe, AZ

School data provided by Great Schools

Frequently Asked Questions about Peterson Park

What type of rentals are currently available in Peterson Park?

There are currently 168 Apartments for Rent in Peterson Park, AZ with pricing that ranges from $350 to $12,599. There are also 172 Single Family Homes for rent, Condos, and Townhome rentals currently available in Peterson Park ranging from $800 to $5,000.

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

Today's rental pricing for Homes for Rent, Condos and Townhomes in Peterson Park ranges from $800 to $5,000 with an average monthly rent of $2,383.

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

For those who are looking for larger living arrangements, Three Bedroom Apartments in Peterson Park range from $1,004 to $9,483, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,000 to $5,000. Four Bedroom Single-Family rentals are also available starting from $1,690 and Four Bedroom Apartments start at $899.

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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A Local Experts Guide to the Top 10 Budget Friendly Neighborhoods in Phoenix, AZ

Written by: Andrew Jollett

I'm Andrew, your ApartmHomeLiving.com local expert for Phoenix. My earliest memories of Phoenix date back to the mid-2000s when 2 of my sisters moved there (one for work and the other for school).

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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.

decorative image for The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro article

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.