Cheap Apartments for Rent in Pennington, NJ from $700 (20 Rentals)

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

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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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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455 W State St
1 to 3 Bedroom Apartments

455 W State St

455 W State StTrenton, NJ 08618
  • Utilities Included

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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Franklin Arms
1 to 2 Bedroom Apartments

Franklin Arms

161 Franklin Corner RdLawrenceville, NJ 08648
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Pennington, NJ Local Guide

Cheapest Neighborhoods for Apartments in Pennington, NJ

Pricing Updated: 10/12/2025

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$1,34589
Pennington Hopewell$4,200$1,21557

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 $1,226. Birchwood at Hopewell (55+) Community in the King's Gate North and East neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,345. Here is today’s list of the most affordable Pennington apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Lafayette House1 BR/1BaS1BR,1BA$1,226
Birchwood at Hopewell (55+) Community1 Bedroom1BR,1BA$1,345
Parkside ManorOne Bedroom1BR,1BA$1,370
Versailles Apartments1 BEDROOM1BR,1BA$1,410
Highgate Apartments1 BR1BR,1BA$1,425

Best Value Apartments for Rent in Pennington, NJ and Nearby

As of October 12, 2025 the best value apartment in the Pennington area is the $2.00 price per square foot 2 Bedroom 1 Bathroom Model at The Artisan at Lawrenceville in the in the Princeton Lawrenceville neighborhood starting from $2,255. The second greatest value Pennington apartment is the 2 Bedrooms Oak Model at Carlton Apartments starting at $2,145 with a $2.00 price per square foot in the Ewingville 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.
The Artisan at Lawrenceville2 Bedroom 1 Bathroom2BR,1BA$2.00
Carlton Apartments2 Bedrooms Oak2BR,1BA$2.00
Carriage Park at Lawrence (55+)1x11BR,1BA$1.90
The Gardens at Birmingham2 Bedroom Townhouse2BR,1BA$1.53
564 Grand Ave2 Bedroom 1 Bath2BR,1BA$1.93
White Pine Townhomes and Apartments1 BR w/DEN1BR,1BA$2.01
Sturwood Hamlet ApartmentsOne BR w/Den1BR,1BA$2.07
Parkside ManorOne Bedroom1BR,1BA$1.96
Birchwood at Hopewell (55+) Community1 Bedroom1BR,1BA$2.01
Lafayette House1 BR/1BaS1BR,1BA$2.03

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Best Local Schools in
Pennington, NJ

School data provided by Great Schools

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

Explore Pennington, NJ Rentals by Map

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Getting Around Pennington, NJ

Walk Score®

33 / 100

Car-Dependent

Most errands require a car

Bike Score®

36 / 100

Somewhat Bikeable

Minimal bike infrastructure

What Are Walk Score®, Transit Score®, and Bike Score® Ratings?

  • Walk Score® measures the walkability of any address.
  • Transit Score® measures access to public transit.
  • Bike Score® measures the bikeability of any address.

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 $1,650.

What is the price of a cheap apartment in Pennington?

The cheapest apartment in Pennington is Lafayette House which is listed at $1,226, while the average apartment in Pennington costs $3,797.

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 16 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 $653 which is $3,144 cheaper than the average rent for all rentals in Pennington.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

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.

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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! 

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The Rental Move-In Inspection Checklist: A Guide for Renters

Written by: Trey Huguley

The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.

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Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Written by: Christine Leonard, Esq.

For many people, obstacles can arise during the rental application process for a variety of issues.

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

Written by: Christine Leonard, Esq.

Hard truth. Moving is never easy. I’ve done it all – from local moves to cross-country relocations From packing to unpacking the last box, I have found moving to be an exhausting, expensive and stressful experience every time.