Cheap Apartments for Rent in the Penelope Neighborhood of Atlanta, GA from $400 (79 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Penelope area of Atlanta.

property at 1033 Palmetto Ave SW

$650

Total Monthly Price

Total Monthly Price

Base Rent
$650
Total Monthly Price
$650

6 Bedroom, 2 Bath Home for Rent

Available Now

1033 Palmetto Ave SW

AtlantaGA30314

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Penelope, Atlanta, GA Local Guide

Cheapest Available Penelope Apartments for Rent

 

The cheapest available apartment rental in the Penelope area of Atlanta, GA is a 2 Beds unit found at Park West priced from $503. Martin Manor has the second lowest priced unit, which is a 2 Beds apartment currently listed from $835. Here are the most affordable Penelope apartments for rent in Atlanta, GA:

Apartment ListingModel NameBed/BathPriced From
Park WestB1TC30%HC - 2 Bedroom %HC2BR,2BA$503
Martin Manor2 Beds, 1 bath2BR,1BA$835
Ashby Park Apartments1 BR/1 BA1BR,1BA$850
Ashley CollegetownThe Allegro1BR,1BA$915
Crystal at HamiltonA1 | 1B1B Standard1BR,1BA$963
1295 West Apartments1 Bedroom1BR,1BA$1,025
584 Lindsay2/12BR,1BA$1,063
Gardens at Washington Park 12 Bedroom, 1 Bathroom2BR,1BA$1,069
Westview LoftsLux Loft1BR,1BA$1,100
12Hundred Studios1/1.00Studio,1BA$1,119

Best Value Apartments for Rent in Penelope, GA

As of April 29, 2026 the best value apartment in the Penelope area is the $1.17 price per square foot C1 | 3B2B Standard Model at Crystal at Hamilton in the in the Harland Terrace neighborhood starting from $1,632. The second greatest value Penelope apartment is the B2 Model at Parkside starting at $1,457 with a $1.43 price per square foot in the Vine City neighborhood. Here is today’s list of the best values for Penelope apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Crystal at HamiltonC1 | 3B2B Standard3BR,2BA$1.17
ParksideB22BR,2BA$1.43
Residences at Westview2X12BR,1BA$1.45
Ashley CollegetownThe Cadence2BR,1BA$1.21
Gardens at Washington Park 13 Bedroom, 2 Bathroom3BR,2BA$1.48
1295 West Apartments2 Bedroom2BR,1.5BA$1.46
Donnelly CourtDonnelly Court2BR,1BA$1.24
The Oasis on Cascade2 Bed 1 Bath2BR,1BA$1.33
Martin Manor2 Beds, 1 bath2BR,1BA$0.98
Ashby Park Apartments1 BR/1 BA1BR,1BA$1.09

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A Local Expert's Guide to the Top Student Friendly Neighborhoods to Rent Near Colleges in Atlanta

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Best Local Schools in
Penelope, Atlanta, GA

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Frequently Asked Questions about Cheap Penelope Apartments

What is a cheap apartment in Penelope?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Penelope is under $1,119.

What is the price of a cheap apartment in Penelope?

The cheapest apartment in Penelope is Ashby Park Apartments which is listed at $850, while the average apartment in Penelope costs $6,500.

What types of apartments are the cheapest in Penelope?

Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 56 regular apartments in Penelope that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

How do the prices of cheap apartments compare to the average apartment in Penelope?

Cheap apartments in Penelope have an average cost of $853 which is $5,647 cheaper than the average rent for all rentals in Penelope.

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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