
Cheap Apartments for Rent near Penhook, VA from $700 (45 Rentals)
Search the lowest-cost Apartments available for rent right now in Penhook.


74-78 Halifax Dr

Hill Court Apartments

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1222-1224 Maple Ave SW

Northpointe

School Drive Apartments

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Stone Ridge Apartments

Chief Tassel

Meadow Run
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.

631 Campbell Ave LLC - Residential

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Gardens At Grandin - II

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Mount Pleasant Villas

ONE Ellsworth

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Blue Ridge Village Apartments

Chatham Lofts

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The Heights at Gateway Park

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The Flora

The Aurora - Residential
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

Liberty Manor Apartments

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Pebble Creek

Westlake Apartment Homes

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Honeywood Apartments

7118 Booker T Washington Hwy

928 Banks Rd S

823 Main St

100 Marshall Way
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.

2001 Lynn Ave

Fayette Street Lofts

The Lawson Building East

205 Nolens Hill Rd

The Everett

115 Elm Ave SW

305 Granville St

4068 Franklin St

417-419 Novelty St
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.

935 Myrtle Rd

412 Virginia St

58 West Apartments

3rd,SW,1401

301 Gilmer Ave

701 3rd Street

Lofts on Church

1312 Laurel Ln

18853 US-29
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

How much does it cost to rent an apartment in Penhook?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Penhook 1 Bedroom Apartments | $1,270 | $799 | $2,965 |
| Penhook 2 Bedroom Apartments | $1,625 | $875 | $3,850 |
| Penhook 3 Bedroom Apartments | $1,937 | $999 | $3,825 |
| Penhook 4 Bedroom Apartments | $1,887 | $1,805 | $1,929 |
Browse Top Apartments in Penhook
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Penhook, VA Local Guide
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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 Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Hill Court Apartments | 2 Bed 1 Bath | 2BR,1BA | $875 |
| 1222-1224 Maple Ave SW | 1 Bed 1 Bath | 1BR,1BA | $895 |
| School Drive Apartments | One Bedroom | 1BR,1BA | $921 |
| Chief Tassel | One Bed - Unfurnished | 1BR,1BA | $945 |
| The Everett | 1 Bed, 1 Bath B Income-Restricted | 1BR,1BA | $953 |
| Frontier Apartments | 2BR 1BA | 2BR,1BA | $985 |
| 631 Campbell Ave LLC - Residential | Studio Loft | Studio,1BA | $990 |
| Gardens At Grandin - II | 1BR/1.0BA | 1BR,1BA | $995 |
| Mount Pleasant Villas | 1x1 | 1BR,1BA | $999 |
| ONE Ellsworth | 1BR/1.0BA | 1BR,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 Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Glade Creek (I) | Renovated Three Bedroom | 3BR,2BA | $1.33 |
| Blue Ridge Village Apartments | 2/1.5 40% AMI | 2BR,1.5BA | $0.91 |
| Westmont Apartments | 2BR | 2BR,2BA | $1.36 |
| Bent Tree | 2 BEDROOM | 2BR,1BA | $1.18 |
| Windy Hill Key | 2 Bedroom, 2 Bath | 2BR,2BA | $1.31 |
| Liberty Manor Apartments | 2 Bed 1 Bath | 2BR,1BA | $1.32 |
| Gardens At Grandin - II | 1BR/1.0BA | 1BR,1BA | $1.24 |
| Frontier Apartments | 2BR 1BA | 2BR,1BA | $1.31 |
| School Drive Apartments | One Bedroom | 1BR,1BA | $1.31 |
| The Everett | 1 Bed, 1 Bath B Income-Restricted | 1BR,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.
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
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.
Remember the 3 Rules of Real Estate:Location, Location, Location!
Explore Penhook, VA Rentals by Map
See the most popular apartments and homes in Penhook, VA
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

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.

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.

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.

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.