Cheap Homes for Rent in Penelope Neighborhood of Atlanta, GA from $800 (56 Rentals)

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

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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 1 Bed unit found at The Villages of Castleberry I&II priced from $841. Intrada Westside Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $875. Here are the most affordable Penelope apartments for rent in Atlanta, GA:

Apartment ListingModel NameBed/BathPriced From
The Villages of Castleberry I&IIThe Alder1BR,1BA$841
Intrada Westside Apartments1 Bedroom1BR,1BA$875
Parkside at Quarry Yards1 Bedroom1BR,1BA$930
Ashley CollegetownThe Allegro1BR,1BA$973
Residences at Westview1X11BR,1BA$981
1295 West Apartments1 Bedroom1BR,1BA$1,025
InTown Lofts1 Bed 1 Bath B1BR,1BA$1,045
Donnelly CourtDonnelly Court2BR,1BA$1,050
Heritage Square ApartmentsHeritage Den2BR,1BA$1,100
12Hundred Studios1/1.00Studio,1BA$1,119

Best Value Apartments for Rent in Penelope, GA

As of June 12, 2025 the best value apartment in the Penelope area is the $1.23 price per square foot The Sonata Model at Ashley Collegetown in the in the West End neighborhood starting from $1,961. The second greatest value Penelope apartment is the 3 Bedroom Model at Parkside at Quarry Yards starting at $1,275 with a $1.13 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.
Ashley CollegetownThe Sonata3BR,2.5BA$1.23
Parkside at Quarry Yards3 Bedroom3BR,2BA$1.13
2191 Martin Luther King Jr Dr SW, Unit 2191 Unit 22191 Martin Luther King Jr Dr SW2BR,1BA$1.50
The Oasis on Cascade2 Bed 1 Bath2BR,1BA$1.28
Donnelly CourtDonnelly Court2BR,1BA$1.17
San Pedro Property1 Bed 1 Bath1BR,1BA$1.50
Residences at Westview1X11BR,1BA$1.32
The Villages of Castleberry I&IIThe Alder1BR,1BA$1.18
Heritage Square ApartmentsHeritage Den2BR,1BA$1.57
Intrada Westside Apartments1 Bedroom1BR,1BA$1.26

Quick Rent Budget Calculator

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Frequently Asked Questions about Penelope

What type of rentals are currently available in Penelope?

There are currently 265 Apartments for Rent in Penelope, GA with pricing that ranges from $500 to $10,000. There are also 215 Single Family Homes for rent, Condos, and Townhome rentals currently available in Penelope ranging from $850 to $6,900.

What is the current price range for Rental Homes in Penelope?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Penelope ranges from $850 to $6,900 with an average monthly rent of $2,154.

How much are larger Three and Four Bedroom Rentals in Penelope?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Penelope range from $1,191 to $4,700, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,200 to $3,800. Four Bedroom Single-Family rentals are also available starting from $1,400 and Four Bedroom Apartments start at $2,000.

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.

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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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The Art of the Rental Viewing: What to look for during a property tour

Written by: Marie Brown

You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.

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Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.

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The Freedom of Short-Term Leases: Exploring the Advantages for Renters

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If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.