Cheap Apartments for Rent in Pennington, NJ from $700 (16 Rentals)

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

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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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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The Art of the Rental Viewing: What to look for during a property tour

Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

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Pennington, NJ Local Guide

Cheapest Neighborhoods for Apartments in Pennington, NJ

Pricing Updated: 01/18/2026

Current apartment rentals in the Pennington, NJ area range in price from to with an overall median price of . Here is today’s list neighborhoods with the lowest median pricing for Pennington Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
King's Gate North and East$3,395$1,54978
Pennington Hopewell$3,950$1,21546

Cheapest Available Pennington Apartments for Rent and Nearby

 

The cheapest available apartment rental in Pennington, NJ is a 1 Bed unit found at Lafayette House in the Mill Hill neighborhood priced from $1,282. The Gardens at Birmingham in the King's Gate North and East neighborhood has the second lowest priced unit, which is a 2 Beds apartment currently listed from $1,549. Here is today’s list of the most affordable Pennington apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Lafayette House1 BR/1BaS1BR,1BA$1,282
The Gardens at Birmingham2 Bedroom Townhouse2BR,1BA$1,549
Woodbrook House ApartmentsOne Bedroom1BR,1BA$1,575
Highgate Apartments1 BED KIT1BR,1BA$1,585
Birchwood at Hopewell (55+) Community2 Bedroom2BR,1BA$1,596

Best Value Apartments for Rent in Pennington, NJ and Nearby

As of January 18, 2026 the best value apartment in the Pennington area is the $1.19 price per square foot 1 BR w/Basement 1,650 sq.ft. Model at Parkside Court in the in the East Trenton neighborhood starting from $1,970. The second greatest value Pennington apartment is the 2 BEDROOM TOWNHOUSE Model at White Pine Townhomes and Apartments starting at $2,250 with a $1.99 price per square foot in the Mercerville neighborhood. Here is today’s list of the best values for Pennington apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Parkside Court1 BR w/Basement 1,650 sq.ft.1BR,1BA$1.19
White Pine Townhomes and Apartments2 BEDROOM TOWNHOUSE2BR,1.5BA$1.99
Carriage Park at Lawrence (55+)1x11BR,1BA$1.90
The Gardens at Birmingham2 Bedroom Townhouse2BR,1BA$1.53
Colonial Gardens Trenton Proud LLC2BR2BR,1BA$1.73
Sturwood Hamlet ApartmentsOne BR w/Den1BR,1BA$2.07
Carlton Apartments1 Bedroom1BR,1BA$2.05
Birchwood at Hopewell (55+) Community2 Bedroom2BR,1BA$1.93
Delaware Heights1 Bedroom1BR,1BA$2.10
Lafayette House1 BR/1BaS1BR,1BA$2.12

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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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.

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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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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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Pennington, NJ

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Frequently Asked Questions about Cheap Pennington Apartments

What is a cheap apartment in Pennington?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Pennington is under $1,720.

What is the price of a cheap apartment in Pennington?

The cheapest apartment in Pennington is Lafayette House which is listed at $1,282, while the average apartment in Pennington costs $3,672.

What types of apartments are the cheapest in Pennington?

Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 13 regular apartments in Pennington that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

How do the prices of cheap apartments compare to the average apartment in Pennington?

Cheap apartments in Pennington have an average cost of $752 which is $2,920 cheaper than the average rent for all rentals in Pennington.

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

decorative image for A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment article

A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment

Written by: Bob Mallory

Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.

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Renting with Roommates: Realistic Expectations for Shared Lease

Written by: Christine Leonard, Esq.

Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.

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Apartment Common Area Rules: What Renters Need to Know

Written by: Christine Leonard, Esq.

Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.

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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate!