Room in Duplex on M.L.K. Jr Dr SW
2159 M.L.K. Jr Dr SW
AtlantaGA30310
Cheap Homes for Rent in Penelope Neighborhood of Atlanta, GA from $400 (33 Rentals)
Search the lowest-cost Homes available for rent right now in the Penelope area of Atlanta.
2684 Loghaven Dr NW
AtlantaGA30318
Room in House on Morris Brown Dr SW
106 Morris Brown Dr SW
AtlantaGA30314
350 Brooks Ave SW
AtlantaGA30310
1321 Oak St SW
AtlantaGA30310
Room in House on Mayson Turner Rd NW
956 Mayson Turner Rd NW
AtlantaGA30314
105 Ozone St SW
AtlantaGA30314
149 Harlan Rd SW
AtlantaGA30311
Understanding Atlanta's Short-Term Rental Landscape: Everything You Need to Know
Discover the thriving short-term rental market in Atlanta from a local expert's perspective. Find flexible, move-in-ready housing options in Downtown, West Midtown, and more.
1346 Eason St NW
AtlantaGA30314
1033 Palmetto Ave SW
AtlantaGA30314
2052 Baker Rd NW
AtlantaGA30318
437 Collier Ridge Dr NW
AtlantaGA30318
41 Spring Ln NW, Unit Upstairs Room - Front
41 Spring Ln NW
AtlantaGA30314
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$8001 Bedroom Apartments Available Now
988 Sims Ave NW, Unit Building A
988 Sims Ave NWAtlanta, GA 30318
971 Colquitt Pl NW
AtlantaGA30318
1066 Margaret Pl NW
AtlantaGA30318
What Does “Rent Burdened” Mean? How Much Rent Is Too Much
Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.
Room in House on Baker Terrace NW
2225 Baker Terrace NW
AtlantaGA30318
761 Kennolia Dr SW, Unit #1
761 Kennolia Dr SW
AtlantaGA30310
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$8501 Bedroom Apartments Available Now
559 Woodlawn Ave NW, Unit B
559 Woodlawn Ave NWAtlanta, GA 30318
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$8501 Bedroom Apartments Available Now
559 Woodlawn Ave NW, Unit B
559 Woodlawn Ave NWAtlanta, GA 30318
Room in House on North Avenue NW
1933 North Avenue NW
AtlantaGA30318
1192 Arlington Ave SW
AtlantaGA30310
173 Chappell Rd NW
AtlantaGA30314
232 Anderson Ave NW
AtlantaGA30314
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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$9951 Bedroom Apartments Available Now
559 Woodlawn Ave NW, Unit B
559 Woodlawn Ave NWAtlanta, GA 30318
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$9951 Bedroom Apartments Available Now
559 Woodlawn Ave NW, Unit B
559 Woodlawn Ave NWAtlanta, GA 30318
147 Lawton St SW
AtlantaGA30314
361 Joseph E. Lowery Blvd NW
AtlantaGA30314
Room in House on Peeples St SW
1077 Peeples St SW
AtlantaGA30310
173 Chappell Rd NW
AtlantaGA30314
265 Peyton Pl SW
AtlantaGA30311
173 Chappell Rd NW
AtlantaGA30314
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.
2210 Pansy St NW
AtlantaGA30314
Showing Results 1-33, Page 1 of 1
Penelope, Atlanta, GA Local Guide
How much does it cost to rent a home in Penelope?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Penelope 2 Bedroom Homes for Rent | $1,614 | $995 | $2,850 |
| Penelope 3 Bedroom Homes for Rent | $2,282 | $925 | $6,000 |
| Penelope 4 Bedroom Homes for Rent | $2,651 | $800 | $6,500 |
| Penelope 5 Bedroom Homes for Rent | $3,074 | $2,295 | $6,000 |
| Penelope 6 Bedroom Homes for Rent | $1,750 | $700 | $2,800 |
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
Browse Homes for Rent in this Neighborhood
There are currently 33 rentals with your search options within a 2 mile radius of the Penelope Neighborhood of Atlanta, GA.
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Penelope, Atlanta, GA Local Guide
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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. Ashby Park Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $850. Here are the most affordable Penelope apartments for rent in Atlanta, GA:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Martin Manor | 2 Beds, 1 bath | 2BR,1BA | $835 |
| Ashby Park Apartments | 1 BR/1 BA | 1BR,1BA | $850 |
| Park West | A1TC50% - 1 Bedroom | 1BR,1BA | $860 |
| Ashley Collegetown | The Allegro | 1BR,1BA | $875 |
| Crystal at Hamilton | A1 | 1B1B Standard | 1BR,1BA | $963 |
| 147 Lawton St SW | 2 Beds, 1 Baths | 2BR,1BA | $995 |
| 139 Lawton St SW | 2 Beds, 1 Baths | 2BR,1BA | $995 |
| Parkside | A1 | 1BR,1BA | $1,007 |
| Residences at Westview | 1X1 | 1BR,1BA | $1,011 |
Best Value Apartments for Rent in Penelope, GA
As of June 08, 2026 the best value apartment in the Penelope area is the $0.58 price per square foot 164 Chicamauga Ave SW Model at 164 Chicamauga Ave SW, Unit Private Downstairs 1 bed in the in the Vine City neighborhood starting from $1,200. The second greatest value Penelope apartment is the 1355 Lucile Ave SW Model at 1355 Lucile Ave SW, Unit 1 starting at $1,550 with a $0.86 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 Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| 164 Chicamauga Ave SW, Unit Private Downstairs 1 bed | 164 Chicamauga Ave SW | 1BR,1BA | $0.58 |
| 1355 Lucile Ave SW, Unit 1 | 1355 Lucile Ave SW | 3BR,2.5BA | $0.86 |
| 1586 Ocala Ave SW, Unit Apartment #2 | 1586 Ocala Ave SW | 1BR,1BA | $0.43 |
| King Lake Townhomes | 3 Beds, 1.5 Baths | 3BR,1.5BA | $1.03 |
| Crystal at Hamilton | B1 | 2B2B Standard | 2BR,2BA | $1.22 |
| 245 Stafford St NW, Unit B | 245 Stafford St NW | 2BR,1BA | $1.31 |
| Ashley Collegetown | The Cadence | 2BR,1BA | $1.21 |
| The Oasis on Cascade | 2 Bed 1 Bath | 2BR,1BA | $1.22 |
| Martin Manor | 2 Beds, 1 bath | 2BR,1BA | $0.98 |
| Ashby Park Apartments | 1 BR/1 BA | 1BR,1BA | $1.09 |
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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Commute Less, Live More: Top Neighborhoods Near Atlanta's Biggest Companies
Find your ideal Atlanta apartment! This guide explores top neighborhoods like Midtown, Vinings, and Brookhaven, and matches them to the city's biggest employers to help you with your next move.
Read ArticleA Local Expert's Guide to the Top Student Friendly Neighborhoods to Rent Near Colleges in Atlanta
A Local Expert's Guide to The 10 Best Affordable Neighborhoods in the Atlanta, GA metro area for affordable living. Find your perfect Atlanta apartment, condo, or rental home today at ApartmentHomeliving.com
Read ArticleReal 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.
Read ArticleQuick Rent Budget Calculator
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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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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 259 Apartments for Rent in Penelope, GA with pricing that ranges from $503 to $8,000. There are also 229 Single Family Homes for rent, Condos, and Townhome rentals currently available in Penelope ranging from $475 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 $475 to $6,500 with an average monthly rent of $2,104.
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 $1,050 to $4,000, while Three Bedroom Homes, Condos, and Townhomes for rent range from $925 to $6,000. Four Bedroom Single-Family rentals are also available starting from $800 and Four Bedroom Apartments start at $1,725.
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.
Helpful Local Expert Guides
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.
Top Student Friendly Neighborhoods to Rent Near Colleges in Atlanta
Written by: Brandie Parton
As a member of the Apartment Home Living team, I am honored to share all I know about the fabulous city that I affectionately call ATL.
Commute Less, Live More: Top Neighborhoods Near Atlanta's Biggest Companies
Written by: Brandie Parton
Hi there, I am Brandie Parton, your ApartmentHomeLiving.com Local Expert for Atlanta, GA. I love this bustling city that never seems to quit, rest, or become boring.
Exploring The World Outside Metro Atlanta: Local Suburbs You Will Want to Know About
Written by: Brandie Parton
Hi there, I am Brandie, your ApartmentHomeLiving.com local expert for Atlanta, Georgia.
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Pet-Friendly Renting: Everything You Need to Know Before You Move
Written by: Christine Leonard, Esq.
For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.
Creative Ways Developers Reimagine Retail Spaces as Residential Units
Written by: Robin Stewart
Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.
Neighborhood and Market Insights: How to Choose the Right Area to Rent
Written by: Robin Stewart
Apartment-hunting can be a gargantuan task. Renters have a wish list of items—some luxuries, some necessities—but finding what you seek in the right place is perhaps the most important part of the journey.
A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back
Written by: Lauren Harrington
I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.