
Cheap Homes for Rent in Penfield, PA from $500 (12 Rentals)
Search the lowest-cost Homes available for rent right now in Penfield.


301 Grand Ave

774 Beaver Branch Rd

908 Main St

702 Don St

29 Timber View Alley
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.

1489 Washington Ave

101 Grandview Rd

122 E 25th Ave

603 E Spruce St

135 4th St

244 E Nittany Ave
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.
Penfield, PA Local Guide

How much does it cost to rent a home in Penfield?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Penfield 2 Bedroom Homes for Rent | $2,008 | $900 | $2,650 |
| Penfield 3 Bedroom Homes for Rent | $1,799 | $525 | $3,000 |
| Penfield 4 Bedroom Homes for Rent | $1,637 | $1,000 | $2,200 |
| Penfield 5 Bedroom Homes for Rent | $2,283 | $650 | $3,400 |
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Penfield, PA Local Guide
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Cheapest Available Penfield Apartments for Rent and Nearby
 The cheapest available apartment rental in Penfield, PA is a 1 Bed unit found at Eagle Park Apartments priced from $590. Wehnwood Court Apartments in the Downtown Altoona neighborhood has the second lowest priced unit, which is a 2 Beds apartment currently listed from $700. Here is today’s list of the most affordable Penfield apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Eagle Park Apartments | Medium Studio | 1BR,1BA | $590 |
| Wehnwood Court Apartments | Model SS | 2BR,2BA | $700 |
| State College Collective on Farmstead | 3BR/3.5BA - Standard - Unfurnished | 3BR,3BA | $730 |
| Forrest Hills Apartments | Two Bedroom | 2BR,1BA | $790 |
| Park Hill | 2x1 Shared | 2BR,1BA | $1,084 |
Best Value Apartments for Rent in Penfield, PA and Nearby
As of December 20, 2025 the best value apartment in the Penfield area is the $0.44 price per square foot 3BR/3.5BA - Standard - Upgraded Furnished Model at State College Collective on Farmstead in the starting from $770. The second greatest value Penfield apartment is the 2BR/2 BATH W/FP Model at Marion Place starting at $1,754 with a $1.23 price per square foot . Here is today’s list of the best values for Penfield apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| State College Collective on Farmstead | 3BR/3.5BA - Standard - Upgraded Furnished | 3BR,3.5BA | $0.44 |
| Marion Place | 2BR/2 BATH W/FP | 2BR,2BA | $1.23 |
| The Villas at Happy Valley | 3x3.5 Townhome | 3BR,3.5BA | $0.72 |
| Wolf Run | Two Bedroom | 2BR,1.5BA | $1.04 |
| The View | 2x2 Premium | 2BR,2BA | $1.24 |
| Altoona Student Housing | 1 Bed | 1BR,1BA | $0.46 |
| Park Hill | 2x1 Shared | 2BR,1BA | $1.16 |
| The Bryn | 2BR/2BA | 2BR,2BA | $1.19 |
| Tremont | 2BR/2BA | 2BR,2BA | $1.17 |
| Forrest Hills Apartments | Two Bedroom | 2BR,1BA | $1.13 |
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 ArticleThe 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 ArticleQuick Rent Budget Calculator
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Remember the 3 Rules of Real Estate:Location, Location, Location!
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Frequently Asked Questions about Penfield
What type of rentals are currently available in Penfield?
There are currently 52 Apartments for Rent in Penfield, PA with pricing that ranges from $550 to $8,850. There are also 42 Single Family Homes for rent, Condos, and Townhome rentals currently available in Penfield ranging from $525 to $3,400.
What is the current price range for Rental Homes in Penfield?
Today's rental pricing for Homes for Rent, Condos and Townhomes in Penfield ranges from $525 to $3,400 with an average monthly rent of $1,730.
How much are larger Three and Four Bedroom Rentals in Penfield?
For those who are looking for larger living arrangements, Three Bedroom Apartments in Penfield range from $730 to $4,400, while Three Bedroom Homes, Condos, and Townhomes for rent range from $525 to $3,000. Four Bedroom Single-Family rentals are also available starting from $1,000 and Four Bedroom Apartments start at $705.
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.
Articles, How-To's, and Tips

Renting with Roommates: Realistic Expectations for Shared Lease
Written by: Christine Leonard, Esq.
Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.

Apartment Common Area Rules: What Renters Need to Know
Written by: Christine Leonard, Esq.
Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.

How to Negotiate Your Apartment Lease and Save Money
Written by: Christine Leonard, Esq.
Everything is a negotiation in real estate!

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.