Cheap Homes for Rent in Penelope Neighborhood of Atlanta, GA from $500 (37 Rentals)

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Search the lowest-cost Homes 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.

Read Article

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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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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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.

Read Article
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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 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$923
Parkside at Quarry Yards1 Bedroom1BR,1BA$930
Residences at Westview1X11BR,1BA$977
Gardens at Washington Park 11 Bedroom, 1 Bathroom1BR,1BA$997
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 14, 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 Penelope

What type of rentals are currently available in Penelope?

There are currently 253 Apartments for Rent in Penelope, GA with pricing that ranges from $835 to $4,000. There are also 292 Single Family Homes for rent, Condos, and Townhome rentals currently available in Penelope ranging from $230 to $7,100.

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 $230 to $7,100 with an average monthly rent of $2,523.

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 $1,247 to $2,949, while Three Bedroom Homes, Condos, and Townhomes for rent range from $925 to $4,400. Four Bedroom Single-Family rentals are also available starting from $800 and Four Bedroom Apartments start at $4,000.

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.

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! 

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

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.