Cheap Apartments for Rent near Penhook, VA from $700 (45 Rentals)

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Search the lowest-cost Apartments available for rent right now in Penhook.

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Frontier Apartments
$799 - $1,499
Total Monthly Price12 Month Lease Term

Total Monthly Price

Base Rent
$799 - $1,499

Total Monthly Price
$799 - $1,499
1 to 2 Bedroom Apartments Available Now

Frontier Apartments

4302-4410 Plantation Rd NERoanoke, VA 24012
Pet Friendly
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  • Customer Reviewed
  • 3D Tour

Rent According to Income: A Look at Income-Restricted Rentals

Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.

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Mount Pleasant Villas
Rent Specials
$999 - $1,350
Total Monthly Price

Total Monthly Price

Base Rent
$999 - $1,350

Total Monthly Price
$999 - $1,350
1 to 2 Bedroom Apartments Available Now

Mount Pleasant Villas

1726 Rutrough Rd SERoanoke, VA 24014
Affordability
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The Flora
Rent Specials
$1,105 - $1,290
Total Monthly Price12 Month Lease Term

Total Monthly Price

Base Rent
$1,010 - $1,195
Required Monthly Fees
$95

Total Monthly Price
$1,105 - $1,290
1 Bedroom Apartments Available Now

The Flora

503 Longwood AveBedford, VA 24523
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  • Utilities Included

Renters Insurance 101: What It Is, What It Covers, and Why You Need It

From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

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Ridge View Apartments
$1,150 - $1,160
Total Monthly Price12 Month Lease Term

Total Monthly Price

Base Rent
$1,091 - $1,101
Required Monthly Fees
$59

Total Monthly Price
$1,150 - $1,160
3 Bedroom Apartments Available Aug 15

Ridge View Apartments

1130 Ridge RdMartinsville, VA 24112
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Pebble Creek
Rent Specials
$1,195 - $3,725
Total Monthly Price

Total Monthly Price

Base Rent
$1,188 - $3,718
Required Monthly Fees
$7

Total Monthly Price
$1,195 - $3,725
1 to 3 Bedroom Apartments Available Now

Pebble Creek

3345 Circle Brook Dr SWRoanoke, VA 24018
Corporate Housing
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  • Customer Reviewed
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Honeywood Apartments
$1,200 - $2,591
Total Monthly Price

Total Monthly Price

Base Rent
$1,193 - $2,584
Required Monthly Fees
$7

Total Monthly Price
$1,200 - $2,591
1 to 2 Bedroom Apartments Available Now

Honeywood Apartments

3101 Honeywood LnRoanoke, VA 24018
Corporate Housing
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property at 928 Banks Rd S

$750

Total Monthly Price

Total Monthly Price

Base Rent
$750

Total Monthly Price
$750

2 Bedroom, 1.5 Bath Home for Rent

Available Aug 1

928 Banks Rd S

MartinsvilleVA24112
property at 823 Main St

$750

Total Monthly Price

Total Monthly Price

Base Rent
$750

Total Monthly Price
$750

2 Bedroom, 1 Bath Home for Rent

Available Now

823 Main St

AltavistaVA24517
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100 Marshall Way
1 to 2 Bedroom Apartments

100 Marshall Way

100 Marshall WayFieldale, VA 24089
  • Utilities Included

How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.

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2001 Lynn Ave
1 to 2 Bedroom Apartments

2001 Lynn Ave

2001 Lynn Ave SWRoanoke, VA 24014
  • Utilities Included
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Fayette Street Lofts
1 Bedroom Apartments

Fayette Street Lofts

62 Fayette StreetMartinsville, VA 24112
Corporate Housing
property at 205 Nolens Hill Rd

$900

Total Monthly Price

Total Monthly Price

Base Rent
$900

Total Monthly Price
$900

2 Bedroom, 1 Bath Townhome for Rent

Available Now

205 Nolens Hill Rd

FerrumVA24088
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The Everett
1 to 3 Bedroom Apartments

The Everett

4301 Garst Mill RdRoanoke, VA 24018
  • Utilities Included
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115 Elm Ave SW
1 to 2 Bedroom Apartments

115 Elm Ave SW

115 Elm Ave SWRoanoke, VA 24016
  • Utilities Included
property at 305 Granville St

$975

Total Monthly Price

Total Monthly Price

Base Rent
$975

Total Monthly Price
$975

2 Bedroom, 2 Bath Home for Rent

Available Now

305 Granville St

MartinsvilleVA24112
property at 4068 Franklin St

$990

Total Monthly Price12 Month Lease Term

Total Monthly Price

Base Rent
$990

Total Monthly Price
$990

3 Bedroom, 1 Bath Home for Rent

Available Now

4068 Franklin St

Rocky MountVA24151
property at 417-419 Novelty St

$995

Total Monthly Price

Total Monthly Price

Base Rent
$995

Total Monthly Price
$995

3 Bedroom, 1 Bath Townhome for Rent

Available Now

417-419 Novelty St

AltavistaVA24517

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.

property at 935 Myrtle Rd

$995

Total Monthly Price

Total Monthly Price

Base Rent
$995

Total Monthly Price
$995

3 Bedroom, 1 Bath Home for Rent

Available Now

935 Myrtle Rd

MartinsvilleVA24112
property at 412 Virginia St

$1,000

Total Monthly Price

Total Monthly Price

Base Rent
$1,000

Total Monthly Price
$1,000

2 Bedroom, 1 Bath Home for Rent

Available Now

412 Virginia St

MartinsvilleVA24112
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58 West Apartments
2 Bedroom Apartments

58 West Apartments

12265 Martinsville HwyDanville, VA 24541
  • Utilities Included
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3rd,SW,1401
1 Bedroom Apartments

3rd,SW,1401

1401 3rd St SWRoanoke, VA 24016
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301 Gilmer Ave
Studio to 2 Bedroom Apartments

301 Gilmer Ave

301 Gilmer AveRoanoke, VA 24016
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701 3rd Street
1 to 2 Bedroom Apartments

701 3rd Street

701 3rd St SWRoanoke, VA 24016
  • Utilities Included
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Lofts on Church
1 to 2 Bedroom Apartments

Lofts on Church

17 Church StRoanoke, VA 24011
property at 1312 Laurel Ln

$1,195

Total Monthly Price12 Month Lease Term

Total Monthly Price

Base Rent
$1,195

Total Monthly Price
$1,195

3 Bedroom, 2 Bath Home for Rent

Available Now

1312 Laurel Ln

MartinsvilleVA24112
property at 18853 US-29

$1,200

Total Monthly Price

Total Monthly Price

Base Rent
$1,200

Total Monthly Price
$1,200

2 Bedroom, 1 Bath Home for Rent

Available Now

18853 US-29

ChathamVA24531

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.

Penhook, VA Local Guide

Cheapest Available Penhook Apartments for Rent and Nearby

 

The cheapest available apartment rental in Penhook, VA is a 2 Beds unit found at Hill Court Apartments priced from $875. 1222-1224 Maple Ave SW in the Gilmer neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $895. Here is today’s list of the most affordable Penhook apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Hill Court Apartments2 Bed 1 Bath2BR,1BA$875
1222-1224 Maple Ave SW1 Bed 1 Bath1BR,1BA$895
School Drive ApartmentsOne Bedroom1BR,1BA$921
Chief TasselOne Bed - Unfurnished1BR,1BA$945
The Everett1 Bed, 1 Bath B Income-Restricted1BR,1BA$953
Frontier Apartments2BR 1BA2BR,1BA$985
631 Campbell Ave LLC - ResidentialStudio LoftStudio,1BA$990
Gardens At Grandin - II1BR/1.0BA1BR,1BA$995
Mount Pleasant Villas1x11BR,1BA$999
ONE Ellsworth1BR/1.0BA1BR,1BA$1,000

Best Value Apartments for Rent in Penhook, VA and Nearby

As of July 29, 2026 the best value apartment in the Penhook area is the $1.33 price per square foot Renovated Three Bedroom Model at Glade Creek (I) in the in the Monterey neighborhood starting from $1,745. The second greatest value Penhook apartment is the 2/1.5 40% AMI Model at Blue Ridge Village Apartments starting at $1,015 with a $0.91 price per square foot in the Gilmer neighborhood. Here is today’s list of the best values for Penhook apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Glade Creek (I)Renovated Three Bedroom3BR,2BA$1.33
Blue Ridge Village Apartments2/1.5 40% AMI2BR,1.5BA$0.91
Westmont Apartments2BR2BR,2BA$1.36
Bent Tree2 BEDROOM2BR,1BA$1.18
Windy Hill Key2 Bedroom, 2 Bath2BR,2BA$1.31
Liberty Manor Apartments2 Bed 1 Bath2BR,1BA$1.32
Gardens At Grandin - II1BR/1.0BA1BR,1BA$1.24
Frontier Apartments2BR 1BA2BR,1BA$1.31
School Drive ApartmentsOne Bedroom1BR,1BA$1.31
The Everett1 Bed, 1 Bath B Income-Restricted1BR,1BA$1.46

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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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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Remember the 3 Rules of Real Estate:
Location, Location, Location!

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Frequently Asked Questions about Cheap Penhook Apartments

How much is rent for a Cheap One Bedroom Penhook Apartment?

The lowest price for a Cheap One Bedroom Penhook Apartment is $875 at Hill Court Apartments.

What is the lowest price for a Cheap Two Bedroom Penhook Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Penhook is starting from $875 at Hill Court Apartments.

What is the most affordable Penhook Three Bedroom Apartment?

The best deal on a cheap Penhook Three Bedroom Apartment rental is at Hill Court Apartments and starts from $999.

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

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Rent According to Income: A Look at Income-Restricted Rentals

Written by: Robin Stewart

The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.

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Renters Insurance 101: What It Is, What It Covers, and Why You Need It

Written by: Robin Stewart

Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.

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Apartment Occupancy Rates: Renter Attraction vs Renter Retention

Written by: Robin Stewart

There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.

decorative image for How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide article

How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Written by: Robin Stewart

Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.