Cheap Homes for Rent in Peterson Park Neighborhood of Tempe, AZ from $700 (17 Rentals)

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

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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Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

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Showing Results 1-17, 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 The Molino Apartments priced from $799. The Mod at Mills has the second lowest priced unit, which is a Studio apartment currently listed from $898. Here are the most affordable Peterson Park apartments for rent in Phoenix, AZ:

Apartment ListingModel NameBed/BathPriced From
The Molino ApartmentsStudio 315sqftStudio,1BA$799
The Mod at MillsS1Studio,1BA$898
Axio Apartments1x11BR,1BA$900
Lyndon LaneOne Bed One Bath1BR,1BA$975
Sono TempeOlsenStudio,1BA$980

Best Value Apartments for Rent in Peterson Park, AZ

As of June 01, 2025 the best value apartment in the Peterson Park area is the $1.71 price per square foot 2X2-1153 Model at San Marquis in the in the South Phoenix neighborhood starting from $1,974. The second greatest value Peterson Park apartment is the 2A Model at San Portella starting at $1,824 with a $1.65 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.
San Marquis2X2-11532BR,2BA$1.71
San Portella2A2BR,2BA$1.65
525-539 W Pebble Beach2 Beds, 1 bath2BR,1BA$1.42
Corsican2 Bed - 1 Bath2BR,1BA$1.42
Solaris On UniversityU2 - 2 x 12BR,1BA$1.39
505 WestSaguaro2BR,1BA$1.52
Omnia BaselineStudio LoftStudio ,1BA$1.70
Mercury on MillReef - 2bed 1bath2BR,1BA$1.60
Highland Park1x1 Reno1BR,1BA$1.69
Tides at Park ViewA11BR,1BA$1.63

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Frequently Asked Questions about Peterson Park

What type of rentals are currently available in Peterson Park?

There are currently 156 Apartments for Rent in Peterson Park, AZ with pricing that ranges from $699 to $10,814. There are also 140 Single Family Homes for rent, Condos, and Townhome rentals currently available in Peterson Park ranging from $750 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 $750 to $5,000 with an average monthly rent of $2,164.

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 $7,175, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,495 to $4,500. Four Bedroom Single-Family rentals are also available starting from $900 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 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.

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The Freedom of Short-Term Leases: Exploring the Advantages for Renters

Written by: Bobbi Jackson

If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.