Cheap Homes for Rent in Penelope Neighborhood of Atlanta, GA from $400 (40 Rentals)

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

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.

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

Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

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Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

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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
Parkside at Quarry Yards1 Bedroom1BR,1BA$930
1295 West Apartments1 Bedroom1BR,1BA$1,025
Ashley CollegetownThe Allegro1BR,1BA$1,034
Gardens at Washington Park 11 Bedroom, 1 Bathroom1BR,1BA$1,076
Heritage Square ApartmentsHeritage Den2BR,1BA$1,100
12Hundred Studios1/1.00Studio,1BA$1,119
The Oasis on Cascade2 Bed 1 Bath2BR,1BA$1,149
Dwell atThe Alcove2 Bd, 1 Ba2BR,1BA$1,199

Best Value Apartments for Rent in Penelope, GA

As of August 28, 2025 the best value apartment in the Penelope area is the $1.32 price per square foot SFH Model at 874 Westmont Rd SW in the in the West End neighborhood starting from $2,295. The second greatest value Penelope apartment is the 3X2 Model at Residences at Westview starting at $1,328 with a $1.07 price per square foot in the Dixie Hills 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.
874 Westmont Rd SWSFH3BR,2.5BA$1.32
Residences at Westview3X23BR,2BA$1.07
Parkside at Quarry Yards3 Bedroom3BR,2BA$1.13
Overlook Ridge2x2 Gold2BR,2BA$1.27
The Oasis on Cascade2 Bed 1 Bath2BR,1BA$1.28
Martin Manor2 Beds, 1 bath2BR,1BA$0.98
Ashley CollegetownThe Allegro1BR,1BA$1.29
San Pedro Property1 Bed 1 Bath1BR,1BA$1.50
Heritage Square ApartmentsHeritage Den2BR,1BA$1.57
1295 West Apartments1 Bedroom1BR,1BA$1.59

Quick 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 Lifestyle
Penelope, Atlanta, GA

Ranked #383

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

Pet Friendliness Lifestyle Score

2.5
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 $4,350. There are also 242 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 $2,419.

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 $4,350, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,200 to $3,750. Four Bedroom Single-Family rentals are also available starting from $1,000 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.

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.

decorative image for The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro article

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

Written by: Christine Leonard, Esq.

Hard truth. Moving is never easy. I’ve done it all – from local moves to cross-country relocations From packing to unpacking the last box, I have found moving to be an exhausting, expensive and stressful experience every time.

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

Written by: Christine Leonard, Esq.

Throughout the day, think about all the times that you have to pay for something. So many of us reach automatically for a credit card or even our phone for a quick payment.

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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

Written by: Cheryl Bowman

A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.