Zumper

1016 Peabody Ave
1016 Peabody Ave, Memphis, TN 38104, USA

Apartment for rent
Monthly rent
$799
Beds2
Baths1
Sqft745
modified
3 Days Ago

Property Overview

Located in a prime area, the property is close to a top-rated middle school, enhancing its desirability. Additionally, it ranks in the 84.31 percentile for value for money compared to similar listings, making it an attractive option in the market. These features contribute to its overall appeal and potential for future investment.

This summary uses Zumper’s proprietary data. “Things you’ll love” and “Great for” are based on our internal analyses of market trends and renter insights.

Things you’ll love

  • Less expensive
  • Middle school nearby

Great for

  • Social life

Units

1016 Peabody Ave Memphis, TN

New Listing

1

2 Beds

1 Bath

$799

Listed on 04/11/2026
Days on market: 3
Charming Midtown Apartment! 1016 Peabody Ave. Live in the heart of Midtown and experience the perfect blend of classic Memphis charm and modern comfort! This spacious 2-bedroom, 1 bath apartment offers: -Timeless character with updated features. -A comfortable layout with plenty of natural light. -Prime location just minutes from Overton Square, the Medical District, and Downtown Memphis. Rent: $799 Deposit Special: Only $99! Don't miss your chance to call this Midtown gem home and schedule your showing today. Section 8 accepted for this property and appliances are included.

New Listing

2

2 Beds

1 Bath

$799

Listed on 04/11/2026
Days on market: 4
Charming Midtown Apartment! 1016 Peabody Ave. Live in the heart of Midtown and experience the perfect blend of classic Memphis charm and modern comfort! This spacious 2-bedroom, 1 bath apartment offers: -Timeless character with updated features. -A comfortable layout with plenty of natural light. -Prime location just minutes from Overton Square, the Medical District, and Downtown Memphis. Rent: $799 Deposit Special: Only $99! Section 8 accepted - appliances are included. Don't miss your chance to call this Midtown gem home and schedule your showing today.

Policies at 1016 Peabody Ave

Applicants

Applicants

One-time.

Contact Property

REQUIRED FEES

Security Deposit

One-time. Refundable.

Contact Property

Questions about this property’s policies and fees?

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About 1016 Peabody Ave

HomeApartments in MemphisNew Pathways 1016 Peabody Ave #1, Memphis, TN 38104, USA

Interested in leasing 1016 Peabody Ave, Memphis, TN 38104, USA? Currently, 1016 Peabody Ave, Memphis, TN 38104, USA is available to rent or lease. It is a 2-bedroom apartment with 1 bathroom. Below, you can compare the rent price at 1016 Peabody Ave, Memphis, TN 38104, USA vs overall rent prices in New Pathways, TN. We have compiled nearby businesses and things to do close to 1016 Peabody Ave, Memphis, TN 38104, USA.

Address details

Units6
Units available2
Neighborhood
City
Zip code38104

1016 Peabody Ave #1 is great for:

Social life

  • Areas nearby are accessible by walking
  • Diverse age groups live in this area
  • The area has transit options
  • 83 restaurants within 1 mile of this property

Property highlights

We compared every listing in the surrounding area to determine which amenities are most common. If a building lacks an amenity that most others in the area have, it is a con. If a building has an amenity most others in the area do not, it is a pro. Similarly, price, schools, and size are calculated relative to the size, price, and distance to schools of the other properties nearby.

How 1016 Peabody Ave, Memphis, TN 38104, USA compares to other nearby properties.

Positives

Less expensive
The 2-bedrooms are cheaper than other similar listings nearby
Middle school nearby
There is a middle school 0.4 mile away

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Rent trends in Memphis

If you decide to upgrade your space, you can expect 2-bedrooms at 1016 Peabody Ave #1 to be 22% less than the average for similarly sized apartments in New Pathways.

Median rents as of Apr 11 2026.
New Pathways
Memphis
A table of studio rental data trends in Memphis
MonthMedian Rent
April 2024$755
May 2024$769
June 2024$765
July 2024$885
August 2024$1,110
September 2024$1,155
October 2024$1,160
November 2024$1,148
December 2024$1,172
January 2025$1,220
February 2025$1,211
March 2025$1,196
April 2025$1,217
May 2025$1,225
June 2025$1,210
July 2025$1,195
August 2025$1,194
September 2025$1,158
October 2025$1,159
November 2025$1,183
December 2025$904
January 2026$858
February 2026$1,202
March 2026$1,203
April 2026$1,193
A table of studio rental data trends in New Pathways
MonthMedian Rent
April 2024$1,251
May 2024$1,184
June 2024$1,199
July 2024$1,180
August 2024$1,206
September 2024$1,140
December 2024$1,041
January 2025$1,019
February 2025$1,019
March 2025$1,075
April 2025$1,199
May 2025$1,227
June 2025$1,203
July 2025$1,195
August 2025$1,133
September 2025$1,104
October 2025$1,111
November 2025$1,164
December 2025$1,135
January 2026$1,176
February 2026$1,226
March 2026$1,199
April 2026$1,170

Affordability calculator

Can I afford to live at 1016 Peabody Ave?

Bedrooms

2 bedrooms

Rent-to-income ratio

30%

Slide to adjust the percentage of your monthly income you are willing to spend on rent.
The general rule of thumb is to spend around 30% or less of your income on rent.
Recommended income

$31,960/yr

With your selected rent-to-income ratio, you'd ideally want to make $31,960 annually to afford this 2-bedrooms median monthly rent price of $799.
For more information on rent affordability, visit our rent calculator.

Rent history

The increase or decrease in monthly rent compared to the previous listing price.
Check out the past listing prices for monthly rent at 1016 Peabody Ave, Memphis, TN.
This month$7992 bed1 bath
This month$7992 bed1 bath
This month$7992 bed1 bath
This month$7992 bed1 bath
Last month$7992 bed1 bath

Schools near 1016 Peabody Ave #1

Bruce Elementary School

581 s bellevue blvd

memphis, TN, 38104

PK, K-5Public
C

Ida B. Wells Academy

995 s lauderdale st

memphis, TN, 38126

K-8Public
C-

Hamilton School

1478 wilson st

memphis, TN, 38106

PK, K-8Public
C-

Exceptional Children Special Placements

160 s hollywood

memphis, TN, 38112

PK, K-12Public

Alcy Elementary

1750 e alcy rd

memphis, TN, 38114

PK, K-5Public
C-
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Getting around Memphis near 1016 Peabody Ave

Walking

8/10
Grab your reusable bags–many shops and stores are within walking distance.

Driving

8/10
Commuting is easy with multiple accessible routes and plenty of parking.

Cycling

4/10
This is semi-bikeable, but you’ll need another way of getting around.

Transit

3/10
There are a few mass transit options within the area.

Points of interest for 1016 Peabody Ave, Memphis

Groceries

8/10
At least one supermarket within a 10-minute walk

Shopping

5/10
Several shops within walking distance

Cafes

5/10
Some cafés within a few minutes’ walk

Restaurants

6/10
Variety of restaurants within a few minutes' walk

Primary schools

8/10
At least one elementary school within a 10-minute walk

High schools

8/10
At least one high school within a 15-minute walk

Parks

6/10
Moderate amount of park space nearby

Nightlife

4/10
Some bars within walking distance

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