I grow my tomatoes in a bed I dug out of the lawn, it's not raised and they do just fine there. I don't think the raised beds would deter pests unless you are talking about fencing them in as well?

I have grown tomatoes in flower borders in the past with no problems, back then I just staked them instead of using cages. In some ways I think they might be safer from pests that way because they don't need to be all in one spot where they're easy to find. Also, if they're up next to your house, animals may be more reluctant to bother them. The only thing I would avoid is using wood mulch if you use that for your beds.

You could also try a new patch of garden or move some of your perennials out of the way. Each tomato still needs room to grow & for air circulation. I give them at least 3' x 3' space especially if you want to pick the fruit and not damage your other plants.

If you have a place in your lawn that has full sun & is accessible with the hose you can just mound up right over the grass with purchased compost over the top of cardboard. Lots of info on GW about sheet composting. The garden writer, Jeff Cox explains it as tip #12. I haven't done it myself.

Here is a link that might be useful: Jeff Cox's 100 Greatest Garden Tips

what is WSJ ?

The Wall Street Journal.