Cheap Apartments for Rent in the Penelope Neighborhood of Atlanta, GA from $700 (40 Rentals)

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

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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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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Kings Court Apartments
2 Bedroom Apartments

Kings Court Apartments

2099 Martin Luther King DrAtlanta, GA 30310
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Bolden Cove
1 to 3 Bedroom Apartments

Bolden Cove

95 SW Peyton RdAtlanta, GA 30311
  • Utilities Included

Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.

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Ashby Park Apartments
1 to 3 Bedroom Apartments

Ashby Park Apartments

880 Rock St NWAtlanta, GA 30314
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Fairway Court Apartments
1 to 3 Bedroom Apartments

Fairway Court Apartments

1247 Joseph E. Boone BlvdAtlanta, GA 30314
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Ashley Collegetown
1 to 3 Bedroom Apartments

Ashley Collegetown

387 Joseph E Lowery Blvd SWAtlanta, GA 30310

The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.

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Westpoint View
1 to 2 Bedroom Apartments

Westpoint View

1197 Simpson Rd NWAtlanta, GA 30314
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Heritage Pointe
1 to 3 Bedroom Apartments

Heritage Pointe

1350 Mayson Turner Rd NWAtlanta, GA 30314
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Peaks of MLK
1 to 3 Bedroom Apartments

Peaks of MLK

2423 Martin Luther King DrAtlanta, GA 30311
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345 Lanier
2 Bedroom Apartments

345 Lanier

345 Lanier StAtlanta, GA 30318
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Westlake Village
2 Bedroom Apartments

Westlake Village

1655 W Lake Ct NWAtlanta, GA 30314
  • Utilities Included

Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.

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Showing Results 1-40, Page 1 of 1

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 Martin Manor priced from $835. Park West has the second lowest priced unit, which is a 1 Bed apartment currently listed from $911. Here are the most affordable Penelope apartments for rent in Atlanta, GA:

Apartment ListingModel NameBed/BathPriced From
Martin Manor2 Beds, 1 bath2BR,1BA$835
Park WestPlan A - Affordable1BR,1BA$911
Ashley CollegetownThe Allegro1BR,1BA$928
Parkside at Quarry Yards1 Bedroom1BR,1BA$930
Residences at Westview1X11BR,1BA$977
Gardens at Washington Park 11 Bedroom, 1 Bathroom1BR,1BA$999
1295 West Apartments1 Bedroom1BR,1BA$1,025
Donnelly CourtDonnelly Court2BR,1BA$1,050
Heritage Square ApartmentsHeritage Den2BR,1BA$1,100
Westview LoftsLux Loft1BR,1BA$1,100

Best Value Apartments for Rent in Penelope, GA

As of October 13, 2025 the best value apartment in the Penelope area is the $1.13 price per square foot 3 Bedroom Model at Parkside at Quarry Yards in the in the Vine City neighborhood starting from $1,275. The second greatest value Penelope apartment is the 2 Bedroom Model at 1295 West Apartments starting at $1,370 with a $1.46 price per square foot in the West End 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.
Parkside at Quarry Yards3 Bedroom3BR,2BA$1.13
1295 West Apartments2 Bedroom2BR,1.5BA$1.46
Donnelly CourtDonnelly Court2BR,1BA$1.17
The Oasis on Cascade2 Bed 1 Bath2BR,1BA$1.28
Martin Manor2 Beds, 1 bath2BR,1BA$0.98
Ashley CollegetownThe Aria1BR,1BA$1.31
San Pedro Property1 Bed 1 Bath1BR,1BA$1.50
Residences at Westview1X11BR,1BA$1.32
Heritage Square ApartmentsHeritage Den2BR,1BA$1.57
Gardens at Washington Park 11 Bedroom, 1 Bathroom1BR,1BA$1.64

Quick Rent Budget Calculator

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Pet Friendly Lifestyle
Penelope, Atlanta, GA

Ranked #380

Among cities in Georgia for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

3.0
Pet Friendly

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Best Local Schools in
Penelope, Atlanta, GA

School data provided by Great Schools

Frequently Asked Questions about Cheap Penelope Apartments

What is the price of a cheap apartment in Penelope?

The cheapest apartment in Penelope is Park West which is listed at $911, while the average apartment in Penelope costs $4,000.

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 80 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 $1,204 which is $2,796 cheaper than the average rent for all rentals in Penelope.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

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.

decorative image for An Atlanta Local Expert’s Guide To 10 Budget-Friendly Neighborhoods to Rent in the Atlanta Area article

An Atlanta Local Expert’s Guide To 10 Budget-Friendly Neighborhoods to Rent in the Atlanta Area

Written by: Jan Boling

Atlanta, Georgia is a large, modern city with many neighborhoods that welcome both newcomers and natives.

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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate! 

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The Rental Move-In Inspection Checklist: A Guide for Renters

Written by: Trey Huguley

The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.

decorative image for Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between article

Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Written by: Christine Leonard, Esq.

For many people, obstacles can arise during the rental application process for a variety of issues.