Cheap Homes for Rent in Peterson Park Neighborhood of Tempe, AZ from $600 (18 Rentals)

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

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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The Art of the Rental Viewing: What to look for during a property tour

Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

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property at 850 W 9th St

850 W 9th St

TempeAZ85281

Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

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Showing Results 1-18, 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 Sentry Tempe priced from $846. Margo has the second lowest priced unit, which is a Studio apartment currently listed from $899. Here are the most affordable Peterson Park apartments for rent in Phoenix, AZ:

Apartment ListingModel NameBed/BathPriced From
Sentry TempeKonaStudio,1BA$846
MargoStudioStudio,1BA$899
The Molino Apartments1x1 600sqft1BR,1BA$949
Lyndon LaneOne Bed One Bath1BR,1BA$975
The Mod at MillsN11BR,1BA$1,000

Best Value Apartments for Rent in Peterson Park, AZ

As of July 26, 2025 the best value apartment in the Peterson Park area is the $1.23 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 $1,850. The second greatest value Peterson Park apartment is the The Warhol Model at MAA Fountainhead starting at $1,758 with a $1.62 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$1.23
MAA FountainheadThe Warhol2BR,2BA$1.62
525-539 W Pebble Beach2 Beds, 1 bath2BR,1BA$1.42
Avana CordobaB1RG - Sophisticated2BR,1BA$1.60
1205 W Southern Ave, Unit A1205 W Southern Ave2BR,1BA$1.59
524 W Howe St, Unit 524524 W Howe St1BR,1BA$1.37
522 W Howe St, Unit 522522 W Howe St1BR,1BA$1.46
Omnia BaselineA1P1BR,1BA$1.54
The Molino Apartments1x1 600sqft1BR,1BA$1.58
Furnished 1 bed / 1 bath in a 4 bedroom1 bedroom1 bath4BR,4BA$1.39

Quick Rent Budget Calculator

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Frequently Asked Questions about Peterson Park

What type of rentals are currently available in Peterson Park?

There are currently 174 Apartments for Rent in Peterson Park, AZ with pricing that ranges from $650 to $9,924. There are also 154 Single Family Homes for rent, Condos, and Townhome rentals currently available in Peterson Park ranging from $675 to $4,750.

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 $675 to $4,750 with an average monthly rent of $2,100.

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 $5,928, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,700 to $4,500. Four Bedroom Single-Family rentals are also available starting from $1,765 and Four Bedroom Apartments start at $695.

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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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

Written by: Cheryl Bowman

A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.

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The Art of the Rental Viewing: What to look for during a property tour

Written by: Marie Brown

You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.

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Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.