Cheap Homes for Rent in the 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.

property at 1033 Palmetto Ave SW

$700

Total Monthly Price

Total Monthly Price

Base Rent
$700
Total Monthly Price
$700

6 Bedroom, 2 Bath Home for Rent

Available Now

1033 Palmetto Ave SW

AtlantaGA30314

Understanding Atlanta's Short-Term Rental Landscape: Everything You Need to Know

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property at 437 Collier Ridge Dr NW

$750 - $1,100

Total Monthly Price

Total Monthly Price

Base Rent
$750 - $1,100
Total Monthly Price
$750 - $1,100

1 Bedroom, 1 Bath Home for Rent

Available Now

437 Collier Ridge Dr NW

AtlantaGA30318
property at 1824 Tiger Flowers Dr NW

$850 - $900

Total Monthly Price

Total Monthly Price

Base Rent
$850 - $900
Total Monthly Price
$850 - $900

1 Bedroom, 1 Bath Home for Rent

Available Now

1824 Tiger Flowers Dr NW

AtlantaGA30314
property at 339 Henry Aaron Ave SW

$880

Total Monthly Price

Total Monthly Price

Base Rent
$880
Total Monthly Price
$880

1 Bedroom, 1 Bath Home for Rent

Available Aug 1

339 Henry Aaron Ave SW, Unit D

339 Henry Aaron Ave SW
AtlantaGA30310

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property at 2184 Wingate St SW

$1,000

Total Monthly Price

Total Monthly Price

Base Rent
$1,000
Total Monthly Price
$1,000

1 Bedroom, 1 Bath Home for Rent

Available Now

2184 Wingate St SW

AtlantaGA30310

Exploring The World Outside Metro Atlanta: Local Suburbs You Will Want to Know About

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property at 586 Oakside Dr SW

$1,195

3 Bedroom, 1 Bath Rentals

Available Now

A

586 Oakside Dr SW
AtlantaGA30331

Atlanta's Best Affordable Neighborhoods

Learn about Atlanta and the best places to live with original content written by our Atlanta, GA Local Expert Jan Boling

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Showing Results 1-37, 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 1 Bed unit found at Dreamscape at Fairfield priced from $800. 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
Dreamscape at Fairfieldas11BR,1BA$800
Martin Manor2 Beds, 1 bath2BR,1BA$835
Ashby Park Apartments1 BR/1 BA1BR,1BA$850
Intrada Westside ApartmentsStudioStudio,1BA$894
12Hundred Studios1/1.00Studio,1BA$895
Ashley CollegetownThe Medley2BR,2BA$934
147 Lawton St SW2 Beds, 1 Baths2BR,1BA$995
Gardens at Washington Park 11 Bedroom, 1 Bathroom1BR,1BA$1,000
Crystal at HamiltonA1 | 1B1B Standard1BR,1BA$1,000
Park WestB1TC50% - 2 Bedroom %2BR,2BA$1,017

Best Value Apartments for Rent in Penelope, GA

As of July 23, 2026 the best value apartment in the Penelope area is the $1.06 price per square foot The Sonata Model at Ashley Collegetown in the in the West End neighborhood starting from $1,692. The second greatest value Penelope apartment is the 658 Cascade Ave SW Model at 658 Cascade Ave SW, Unit 656 starting at $1,650 with a $1.14 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.
Ashley CollegetownThe Sonata3BR,2.5BA$1.06
658 Cascade Ave SW, Unit 656658 Cascade Ave SW2BR,2BA$1.14
King Lake Townhomes3 Beds, 1.5 Baths3BR,1.5BA$1.03
Parkside FlatsParkside Luxury Flat2BR,1BA$1.31
Crystal at HamiltonB1 | 2B2B Standard2BR,2BA$1.22
The Oasis on Cascade2 Bed 1 Bath2BR,1BA$1.33
1295 West Apartments2 Bedroom2BR,1BA$1.45
Martin Manor2 Beds, 1 bath2BR,1BA$0.98
Ashby Park Apartments1 BR/1 BA1BR,1BA$1.09
166 Anderson Ave NW2x12BR,1BA$1.38

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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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Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University

From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.

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Best Local Schools in
Penelope, Atlanta, GA

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Frequently Asked Questions about Penelope

What type of rentals are currently available in Penelope?

There are currently 252 Apartments for Rent in Penelope, GA with pricing that ranges from $695 to $6,500. There are also 210 Single Family Homes for rent, Condos, and Townhome rentals currently available in Penelope ranging from $520 to $6,500.

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 $520 to $6,500 with an average monthly rent of $2,259.

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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