Cheap Homes for Rent in Peterson Park Neighborhood of Tempe, AZ from $900 (28 Rentals)

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

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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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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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 1-28, 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 Avana Tempe priced from $877. Mission Springs has the second lowest priced unit, which is a Studio apartment currently listed from $884. Here are the most affordable Peterson Park apartments for rent in Phoenix, AZ:

Apartment ListingModel NameBed/BathPriced From
Avana TempeStudio - SophisticatedStudio,1BA$877
Mission SpringsSaguaro - Junior One BedroomStudio,1BA$884
The Mod at MillsS1Studio,1BA$898
Grandes CortesStudioStudio,1BA$950
Sono TempeOlsenStudio,1BA$992
Studio 710 ApartmentsSmall Studio DeluxeStudio,1BA$999
The Molino Apartments1x1 675sqft1BR,1BA$999
Sentry TempeSunrise2BR,1BA$1,007
Palms at South MountainOne Bedroom, One Bath1BR,1BA$1,023
The Vintage on College1x1 Remodeled W/D1BR,1BA$1,050

Best Value Apartments for Rent in Peterson Park, AZ

As of December 27, 2025 the best value apartment in the Peterson Park area is the $1.52 price per square foot 3x2.50 - 2341 Garden Model at Colonia Apartment Homes - Roger in the in the South Phoenix neighborhood starting from $2,199. The second greatest value Peterson Park apartment is the Two Bedroom/Two Bath Model at San Paseo starting at $1,865 with a $1.59 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 ListingModel NameBed/BathPrice Per Sq.Ft.
Colonia Apartment Homes - Roger3x2.50 - 2341 Garden3BR,2.5BA$1.52
San PaseoTwo Bedroom/Two Bath2BR,2BA$1.59
Obsidian at South MountainB2BR,2BA$1.59
525-539 W Pebble Beach2 Beds, 1 bath2BR,1BA$1.42
Corsican2 Bed - 1 Bath2BR,1BA$1.26
Sentry TempeSunrise2BR,1BA$1.18
The Pointe at South Mountain1 Bedroom 1 Bathroom D1BR,1BA$1.54
Solaris On UniversityU1 - 1 x 11BR,1BA$1.52
505 WestRillito1BR,1BA$1.58
Palms at South MountainOne Bedroom, One Bath1BR,1BA$1.55

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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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.

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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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Quick Rent Budget Calculator

How much rent can you afford?

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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Pet Friendly Lifestyle
Peterson Park, Tempe, AZ

Ranked #22

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

Pet Friendliness Lifestyle Score

3.5
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 173 Apartments for Rent in Peterson Park, AZ with pricing that ranges from $872 to $27,703. There are also 148 Single Family Homes for rent, Condos, and Townhome rentals currently available in Peterson Park ranging from $900 to $6,500.

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 $900 to $6,500 with an average monthly rent of $2,624.

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 $27,703, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,395 to $4,500. Four Bedroom Single-Family rentals are also available starting from $900 and Four Bedroom Apartments start at $899.

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.

Helpful Local Expert Guides

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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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Experts Guide to the Top Neighborhoods in Phoenix, AZ for College Renters

Written by: Andrew Jollett

I never attended school in Phoenix. While living there for some time, I often longed to join in on the fun and adventure I saw students from a number of colleges in the area.

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A Phoenix Experts Relocation Guide: Best Neighborhoods to Rent Near Banner, ASU, & Amazon

Written by: Andrew Jollett

Phoenix has long been one of the fastest-growing metros in the United States. When I think about how much I’ve seen it change over the years, it’s no wonder so many young professionals flock to the area every year.

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New to Phoenix? Your Essential Guide to Top Neighborhoods, City Life and Transit Options

Written by: Andrew Jollett

Hi everyone! My name is Andrew, and I’m your local ApartmentHomeLiving.com guide for the greater Phoenix area. Today, I want to take you on an insider’s tour of the area.

Articles, How-To's, and Tips

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How to Make Your Apartment Holiday-Ready: Renter-Friendly Tips

Written by: Justin Habersaat

Getting your apartment ready for the holidays can be exciting but sometimes challenging in a smaller space. Here are some modern tips to keep things festive, safe, and inviting this season.

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Renting with Roommates: Realistic Expectations for Shared Lease

Written by: Christine Leonard, Esq.

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.

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Apartment Common Area Rules: What Renters Need to Know

Written by: Christine Leonard, Esq.

Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.

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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate!