700 W University Dr
TempeAZ85281
Cheap Homes for Rent in Peterson Park Neighborhood of Tempe, AZ from $800 (21 Rentals)
Search the lowest-cost Homes available for rent right now in the Peterson Park area of Tempe.
700 W University Dr, Unit G241
700 W University Dr
TempeAZ85281
1368 W 14th St, Unit Room 3 Full Private Bath
1368 W 14th St
TempeAZ85281
4514 E Riverside St
PhoenixAZ85040
200 E Southern Ave, Unit 159
200 E Southern Ave
TempeAZ85282
4006 S 44th St
PhoenixAZ85040
729 W University Dr
TempeAZ85281
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.
313 E Riviera Dr
TempeAZ85282
200 E Southern Ave, Unit 155
200 E Southern Ave
TempeAZ85282
1214 S Roosevelt St, Unit B
1214 S Roosevelt St
TempeAZ85281
1203 W University Dr
TempeAZ85281
4441 E Wood St
PhoenixAZ85040
731 W University Dr
TempeAZ85281
731 W University Dr
TempeAZ85281
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.
2123 W Hu Esta Dr
TempeAZ85282
4615 E Jones Ave
PhoenixAZ85040
510 W University Dr
TempeAZ85281
200 E Southern Ave, Unit 148
200 E Southern Ave
TempeAZ85282
1688 W Village Way
TempeAZ85282
743 W Fordham Dr
TempeAZ85283
15 E Carter Dr
TempeAZ85282
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.
Showing Results 1-21, Page 1 of 1
Peterson Park, Tempe, AZ Local Guide
How much does it cost to rent a home in Peterson Park?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Peterson Park 2 Bedroom Homes for Rent | $1,587 | $1,095 | $2,999 |
| Peterson Park 3 Bedroom Homes for Rent | $2,425 | $1,195 | $6,495 |
| Peterson Park 4 Bedroom Homes for Rent | $3,405 | $2,195 | $7,500 |
| Peterson Park 5 Bedroom Homes for Rent | $3,878 | $2,795 | $5,000 |
| Peterson Park 6 Bedroom Homes for Rent | $4,365 | $3,996 | $4,600 |
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
Browse Homes for Rent in this Neighborhood
There are currently 21 rentals with your search options within a 2 mile radius of the Peterson Park Neighborhood of Tempe, AZ.
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Peterson Park, Tempe, AZ Local Guide
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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 $821. Grandes Cortes 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 Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Sentry Tempe | Kona | Studio,1BA | $821 |
| Grandes Cortes | Studio | Studio,1BA | $899 |
| Margo | Studio | Studio,1BA | $929 |
| Solaris On University | Studio | Studio,1BA | $929 |
| Sono Tempe | Olsen | Studio,1BA | $945 |
Best Value Apartments for Rent in Peterson Park, AZ
As of May 30, 2026 the best value apartment in the Peterson Park area is the $1.60 price per square foot 3x2 Model at Colonia Apartment Homes - Roger in the in the South Phoenix neighborhood starting from $2,300. The second greatest value Peterson Park apartment is the 2X2-1182 Model at San Marquis starting at $1,954 with a $1.65 price per square foot in the South Phoenix neighborhood. Here is today’s list of the best values for Peterson Park apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Colonia Apartment Homes - Roger | 3x2 | 3BR,2BA | $1.60 |
| San Marquis | 2X2-1182 | 2BR,2BA | $1.65 |
| San Palmilla | Two Bedroom/Two Bath | 2BR,2BA | $1.59 |
| 505 West | Havasu | 2BR,2BA | $1.35 |
| The Avi | 2x2 | 2BR,2BA | $1.34 |
| 525-539 W Pebble Beach | 2 Beds, 1 bath | 2BR,1BA | $1.42 |
| Mercury on Mill | Sunrise - 2bed 2bath | 2BR,2BA | $1.70 |
| Lyndon Lane | Lyndon Lane Two Bedroom One Bath | 2BR,1BA | $1.66 |
| Sofia Apartments | The Calla (2x2) | 2BR,2BA | $1.46 |
| Highland Park | 1x1 Reno | 1BR,1BA | $1.71 |
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
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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Pet Friendly LifestylePeterson Park, Tempe, AZ
Ranked #18
Among cities in Arizona for Apartment listings with Pet Friendly Amenities.
Pet Friendliness Lifestyle Score
3.5Pet Friendly
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 171 Apartments for Rent in Peterson Park, AZ with pricing that ranges from $750 to $15,442. There are also 145 Single Family Homes for rent, Condos, and Townhome rentals currently available in Peterson Park ranging from $875 to $7,500.
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 $875 to $7,500 with an average monthly rent of $2,839.
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 $11,176, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,195 to $6,495. Four Bedroom Single-Family rentals are also available starting from $2,195 and Four Bedroom Apartments start at $1,135.
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.
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