2712 1st St S
ArlingtonVA22204
Cheap Homes for Rent in Penrose Neighborhood of Arlington, VA from $1,200 (2 Rentals)
Search the lowest-cost Homes available for rent right now in the Penrose area of Arlington.
What Does “Rent Burdened” Mean? How Much Rent Is Too Much
Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.
2603 Arlington Blvd
ArlingtonVA22201
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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Penrose, Arlington, VA Local Guide
How much does it cost to rent a home in Penrose?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Penrose 2 Bedroom Homes for Rent | $2,858 | $2,600 | $3,670 |
| Penrose 3 Bedroom Homes for Rent | $4,150 | $4,150 | $4,150 |
| Penrose 4 Bedroom Homes for Rent | $2,625 | $1,250 | $4,000 |
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
Browse Homes for Rent in this Neighborhood
There are currently 2 rentals with your search options within a 2 mile radius of the Penrose Neighborhood of Arlington, VA.
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Penrose, Arlington, VA Local Guide
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Best Value Apartments for Rent in Penrose, VA
As of June 19, 2026 the best value apartment in the Penrose area is the $2.83 price per square foot B2 Model at Eagle Rock Apartments at Columbia Pike in the in the Cherrydale neighborhood starting from $2,789. The second greatest value Penrose apartment is the 2BR Model at Columbia Pike Apartments starting at $2,000 with a $2.11 price per square foot in the Maywood neighborhood. Here is today’s list of the best values for Penrose apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Eagle Rock Apartments at Columbia Pike | B2 | 2BR,2BA | $2.83 |
| Columbia Pike Apartments | 2BR | 2BR,1BA | $2.11 |
| Dominion Towers | Two Bedroom/One Bath | 2BR,1BA | $2.42 |
| Shawnee Apartments | B1 | 2BR,1BA | $2.71 |
| Fillmore Garden Apartments | 1 Bedroom Renovated | 1BR,1BA | $2.37 |
| Penrose Square Apartments | 1B-P3 STUD | Studio ,1BA | $3.13 |
| 2200 Columbia Pike | 10 | 1BR,1BA | $3.35 |
| Cortland on Pike | S1 - Affordable | Studio ,1BA | $2.83 |
| Siena Park | s01 | Studio ,1BA | $3.39 |
| Cortland Columbia Pike | S1 | Studio ,1BA | $3.88 |
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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Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University
From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.
Read ArticleQuick 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 LifestylePenrose, Arlington, VA
Ranked #43
Among cities in Virginia for Apartment listings with Pet Friendly Amenities.
Pet Friendliness Lifestyle Score
3.5Pet Friendly
Frequently Asked Questions about Penrose
What type of rentals are currently available in Penrose?
There are currently 47 Apartments for Rent in Penrose, VA with pricing that ranges from $1,325 to $10,727. There are also 15 Single Family Homes for rent, Condos, and Townhome rentals currently available in Penrose ranging from $1,250 to $4,150.
What is the current price range for Rental Homes in Penrose?
Today's rental pricing for Homes for Rent, Condos and Townhomes in Penrose ranges from $1,250 to $4,150 with an average monthly rent of $2,902.
How much are larger Three and Four Bedroom Rentals in Penrose?
For those who are looking for larger living arrangements, Three Bedroom Apartments in Penrose range from $2,365 to $10,587, while Three Bedroom Homes, Condos, and Townhomes for rent range from $4,150 to $4,150. Four Bedroom Single-Family rentals are also available starting from $1,250 and Four Bedroom Apartments start at $9,178.
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.
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For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.
Creative Ways Developers Reimagine Retail Spaces as Residential Units
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Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.