307 Chapman Rd
MontreatNC28757
Cheap Homes for Rent in Penland, NC from $1,000 (9 Rentals)
Search the lowest-cost Homes available for rent right now in Penland.
26 Magic Dr
Old FortNC28762
404 W Main St
MorgantonNC28655
2842 Dale St
MorgantonNC28655
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.
216 Alabama Terrace
MontreatNC28757
366 Genesis Cir
Black MountainNC28711
430 Lytle Cove Rd
SwannanoaNC28778
494 Cranberry St
NewlandNC28657
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.
126 Mississippi Rd
MontreatNC28757
Showing Results 1-9, Page 1 of 1
Penland, NC Local Guide
North Carolina state flag by Mr.TinDC is licensed under CC BY 2.0
How much does it cost to rent a home in Penland?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Penland 2 Bedroom Homes for Rent | $1,852 | $1,095 | $2,800 |
| Penland 3 Bedroom Homes for Rent | $2,092 | $1,125 | $2,800 |
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Penland, NC Local Guide
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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 Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| 197 Old US Highway 321 | Standard Studio Efficiency | Studio,1BA | $725 |
| Watauga Square | 1 Bedroom 1 Bathroom | 1BR,1BA | $817 |
| Buccaneer Court | 1 Bedroom - Buccaneer Court / Tweetsie Trail | 1BR,1BA | $850 |
Best Value Apartments for Rent in Penland, NC and Nearby
As of May 22, 2026 the best value apartment in the Penland area is the $0.74 price per square foot C1 Lodge Model at Highpointe in the starting from $999. The second greatest value Penland apartment is the 4x4 Super Deluxe Model at Student Quarters Johnson City | Student Housing starting at $750 with a $0.57 price per square foot in the Downtown Johnson City neighborhood. Here is today’s list of the best values for Penland apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Highpointe | C1 Lodge | 3BR,3BA | $0.74 |
| Student Quarters Johnson City | Student Housing | 4x4 Super Deluxe | 4BR,4BA | $0.57 |
| Cedarbrook Apartments | 3 Bedroom | 3BR,2BA | $1.21 |
| Plaza View Luxury Condominiums | 2 Bed, 1.5 Bath Model | 2BR,1.5BA | $1.18 |
| The Condominiums at Cedarwood | 2 Bed, 1.5 Bath Model | 2BR,1.5BA | $1.18 |
| 28 Park Ave | 2 Bedroom | 2BR,1.5BA | $1.14 |
| Positive Way Apartments | Positive Way | 3BR,2BA | $0.78 |
| The Harbor | 2BR | 2BR,2BA | $0.97 |
| Beaver Hollow Apartments | 2 Bedroom S60 | 2BR,1BA | $1.09 |
| Presswood Court | 1 Bedroom | 1BR,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.
Read Article
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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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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Frequently Asked Questions about Penland
What type of rentals are currently available in Penland?
There are currently 56 Apartments for Rent in Penland, NC with pricing that ranges from $700 to $2,600. There are also 39 Single Family Homes for rent, Condos, and Townhome rentals currently available in Penland ranging from $1,050 to $2,800.
What is the current price range for Rental Homes in Penland?
Today's rental pricing for Homes for Rent, Condos and Townhomes in Penland ranges from $1,050 to $2,800 with an average monthly rent of $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.
Articles, How-To's, and Tips
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.
Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts
Written by: Lauren Harrington
This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.
What Does “Rent Burdened” Mean? How Much Rent Is Too Much
Written by: Lauren Harrington
This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.
Maximizing Your Refund: Essential Tax Tips for Renters
Written by: Christine Leonard, Esq.
Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.