5+ Days Ago
Location
531 Peabody Sq, Memphis, TN 38104, USA|East Midtown
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Revid Property Management
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Property Overview
Situated in a vibrant community, the property at 531 Peabody Sq offers excellent access to public transport and top-rated educational institutions within a short distance. Its high value per square foot places it in the 95.83 percentile among local properties, while the rich array of nearby restaurants and mixed-use spaces enhances the social experience. The diverse demographic of the area further enriches the living environment, making it appealing to a wide range of residents.
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
More space- Elementary school nearby
Great for
Social life
Policies and fees
Applicants
Applicants
One-time.
Contact Property
REQUIRED FEES
Security Deposit
One-time. Refundable.
Contact Property
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About 531 Peabody Sq
531 Peabody Sq cost $1,450 per month. Located at 531 Peabody Sq, Memphis, TN 38104, USA, this unit has 2 bedrooms and 1 bathroom. Based on the average rent price of 2 bedrooms in Memphis, renting this apartment is 46% more expensive per month.Other available apartments to lease near Memphis around the same price include but are not limited to: 438 N Highland St
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 531 Peabody Square, Memphis, TN 38104, USA compares to other nearby properties.
Positives
- More space
- The 2-bedroom is 420 sqft larger than other listings nearby
- Elementary school nearby
- There is an elementary school 0.3 mile away
Considerations
- Greater distance from high schools
- The nearest high school is farther than 1 mile away
Address details
| Neighborhood | East Midtown |
|---|---|
| Zip code | 38104 |
| Type | Apartment for rent |
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Rent trends in East Midtown
2-bedroom apartments at 531 Peabody Sq cost about the same as the average rent price for 2-bedroom apartments in Memphis.
Median rents as of Mar 14 2026.
East Midtown
Memphis
| Month | Median Rent |
|---|---|
| March 2024 | $1,000 |
| April 2024 | $1,024 |
| May 2024 | $1,053 |
| June 2024 | $1,046 |
| July 2024 | $1,081 |
| August 2024 | $1,107 |
| September 2024 | $1,164 |
| October 2024 | $1,125 |
| November 2024 | $1,150 |
| December 2024 | $1,146 |
| January 2025 | $1,151 |
| February 2025 | $1,111 |
| March 2025 | $1,107 |
| April 2025 | $1,106 |
| May 2025 | $1,104 |
| June 2025 | $1,095 |
| July 2025 | $1,091 |
| August 2025 | $1,096 |
| September 2025 | $1,096 |
| October 2025 | $1,073 |
| November 2025 | $1,050 |
| December 2025 | $1,026 |
| January 2026 | $1,012 |
| February 2026 | $1,014 |
| March 2026 | $997 |
| Month | Median Rent |
|---|---|
| March 2024 | $1,150 |
| April 2024 | $1,150 |
| May 2024 | $1,200 |
| June 2024 | $1,193 |
| July 2024 | $1,298 |
| August 2024 | $1,535 |
| September 2024 | $1,554 |
| October 2024 | $1,431 |
| November 2024 | $1,391 |
| December 2024 | $1,385 |
| January 2025 | $1,501 |
| February 2025 | $1,354 |
| March 2025 | $1,312 |
| April 2025 | $1,299 |
| May 2025 | $1,483 |
| June 2025 | $1,790 |
| July 2025 | $1,579 |
| August 2025 | $1,418 |
| September 2025 | $1,479 |
| October 2025 | $1,341 |
| November 2025 | $1,289 |
| December 2025 | $1,268 |
| January 2026 | $1,200 |
| February 2026 | $1,326 |
| March 2026 | $1,460 |
Affordability calculator
Can I afford to live at 531 Peabody Sq?
Bedrooms
2 bedroomsRent-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
$58,000/yr
With your selected rent-to-income ratio, you'd ideally want to make $58,000 annually to afford this 2-bedrooms monthly rent price of $1,450.
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.| Bath | |||||
|---|---|---|---|---|---|
| 7 years ago | $1,295 | 2 bed | 1.5 bath | ||
| 7 years ago | $1,295 | 2 bed | 1.5 bath | ||
| 10 years ago | $1,300 | 2 bed | 1 bath | ||
| 11 years ago | $1,200 | 2 bed | 1 bath |
Schools near 531 Peabody Sq
Exceptional Children Special Placements
160 s hollywood
memphis, TN, 38112
PK, K-12Public
Hamilton School
1478 wilson st
memphis, TN, 38106
PK, K-8Public
C-
Ida B. Wells Academy
995 s lauderdale st
memphis, TN, 38126
K-8Public
C-
Alcy Elementary
1750 e alcy rd
memphis, TN, 38114
PK, K-5Public
C-
University of Memphis - University Campus School
535 zach curlin
memphis, TN, 38152
K-5Public
A-
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Internet available near 531 Peabody Sq
Getting around Memphis near 531 Peabody Sq
Walking
7/10
Grab your reusable bags–many shops and stores are within walking distance.
Driving
7/10
This area is close to freeways and has adequate parking options.
Cycling
5/10
More spots are within biking distance and some roads are cyclist-friendly.
Transit
2/10
There are a few mass transit options within the area.
Points of interest for 531 Peabody Sq, Memphis
Groceries
7/10
At least one supermarket within a 15-minute walk
Shopping
5/10
Several shops within walking distance
Cafes
5/10
Some cafés within a few minutes’ walk
Restaurants
6/10
Some restaurants within a few minutes’ walk
Primary schools
8/10
At least one elementary school within a 10-minute walk
High schools
7/10
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
Other units at this address
531 Peabody Square, Memphis, TN
531 Peabody Square Memphis, TN
Occupied
531
2 Beds
1 Bath
$1,300
In-Unit Laundry • Walk-In Closets • Hardwood Floor
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