2842 Dale St
MorgantonNC28655
Cheap Homes for Rent near Penland, NC from $995 (6 Rentals)
Search the lowest-cost Homes available for rent right now in Penland.
3875 Old Fort Sugar Hill Rd
Old FortNC28762
26 Craven Hill Cir
Black MountainNC28711
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.
1146 Mountainview Rd
ErwinTN37650
590 Lakey Gap Rd
Black MountainNC28711
217 Assembly Dr
Black MountainNC28711
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
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 | $1,555 | $1,045 | $2,600 |
| Penland 3 Bedroom Homes for Rent | $2,088 | $995 | $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 |
| Forrest Edge Townhomes | Forrest Edge Townhomes! - Roommate Matching Bed... | 4BR,4BA | $840 |
Best Value Apartments for Rent in Penland, NC and Nearby
As of August 22, 2026 the best value apartment in the Penland area is the $0.47 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 C3 Cottage 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 Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| College Heights | College Heights | 4BR,4BA | $0.47 |
| Highpointe | C3 Cottage | 3BR,3BA | $0.67 |
| Student Quarters Johnson City | Student Housing | 4x4 Super Deluxe | 4BR,4BA | $0.57 |
| Cedarbrook Apartments | 2 Bedroom - Garden | 2BR,2BA | $1.16 |
| Antioch Landing | Antioch 907 2B 1.5B | 2BR,1.5BA | $1.16 |
| 28 Park Ave | 2 Bedroom | 2BR,1.5BA | $1.14 |
| Positive Way Apartments | Positive Way | 3BR,2BA | $0.70 |
| The Harbor | 2BR | 2BR,2BA | $1.08 |
| 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.
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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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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 $699 to $2,600. There are also 33 Single Family Homes for rent, Condos, and Townhome rentals currently available in Penland ranging from $995 to $10,487.
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 $995 to $10,487 with an average monthly rent of $1,921.
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.
Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags
Written by: Robin Stewart
Renters want to find a great apartment, the right place for them, one that checks all the boxes of location, rental cost, amenities, safety, and more.
First Apartment Regrets: Real Renters Share What They'd Do Differently
Written by: Robin Stewart
Hindsight is 20/20. Live and Learn. With age comes wisdom. We’re familiar with all those expressions, and all of them apply to lessons first-time renters learn.
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.