Cheap Apartments for Rent near Penland, NC from $600 (50 Rentals)

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

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.

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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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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.

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200-206 S Boone St
1 Bedroom Apartments

200-206 S Boone St

200-206 S Boone StJohnson City, TN 37604
  • Utilities Included
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Eli's Place
1 to 3 Bedroom Apartments

Eli's Place

3529 W Walnut StJohnson City, TN 37604

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.

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Paxton Place
1 to 2 Bedroom Apartments

Paxton Place

407 S Roan StJohnson City, TN 37601
  • Utilities Included
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28 Park Ave
2 to 3 Bedroom Apartments

28 Park Ave

28 Park AveMarion, NC 28752

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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Penland, NC Local Guide

Cheapest Available Penland Apartments for Rent and Nearby

 

The cheapest available apartment rental in Penland, NC is a Studio unit found at 197 Old US Highway 321 priced from $725. Watauga Square in the Downtown Johnson City neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $817. Here is today’s list of the most affordable Penland apartments for rent:

Apartment ListingModel NameBed/BathPriced From
197 Old US Highway 321Standard Studio EfficiencyStudio,1BA$725
Watauga Square1 Bedroom 1 Bathroom1BR,1BA$817
Greenwood Farms ApartmentsOne Bedroom1BR,1BA$880
Presswood Court1 Bedroom1BR,1BA$895
Axis on Roan1 Bed x 1 Bath1BR,1BA$899
Sterling Hills ApartmentsGarden_First Floor1BR,1BA$950
River View Townhomes1 Bedroom First Level1BR,1BA$979
Beaver Hollow Apartments2 Bedroom S602BR,1BA$1,000
101 Park Place AveOne Bed1BR,1BA$1,000
Charleston Square Townhomes2x1.52BR,1BA$1,145

Best Value Apartments for Rent in Penland, NC and Nearby

As of July 10, 2026 the best value apartment in the Penland area is the $0.43 price per square foot College Heights Model at College Heights in the in the Downtown Johnson City neighborhood starting from $650. The second greatest value Penland apartment is the C1 Lodge Model at Highpointe starting at $899 with a $0.67 price per square foot . Here is today’s list of the best values for Penland apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
College HeightsCollege Heights4BR,4BA$0.43
HighpointeC1 Lodge3BR,3BA$0.67
Cedarbrook Apartments2 Bedroom - Garden2BR,2BA$1.16
Plaza View Luxury Condominiums2 Bed, 1.5 Bath Model2BR,1.5BA$1.18
Antioch LandingAntioch 907 2B 1.5B2BR,1.5BA$1.16
28 Park Ave2 Bedroom2BR,1.5BA$1.14
Positive Way ApartmentsPositive Way3BR,2BA$0.78
The Harbor2BR2BR,2BA$0.97
Beaver Hollow Apartments2 Bedroom S602BR,1BA$1.09
Presswood Court1 Bedroom1BR,1BA$1.05

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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Quick 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.

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

Explore Penland, NC Rentals by Map

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See the most popular apartments and homes in Penland, NC

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Frequently Asked Questions about Cheap Penland Apartments

What is the Cheapest Studio apartment in Penland?

Currently the most affordable Cheap Studio Apartment in Penland is at 197 Old US Highway 321 listed at $725.

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

The lowest price for a Cheap One Bedroom Penland Apartment is $817 at Watauga Square.

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

Today's best deal for a Cheap Two Bedroom Apartment in Penland is starting from $1,000 at Beaver Hollow Apartments.

What is the most affordable Penland Three Bedroom Apartment?

The best deal on a cheap Penland Three Bedroom Apartment rental is at Charleston Square Townhomes and starts from $1,295.

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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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.

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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.

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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.