Cheap Apartments for Rent in Pennington, NJ from $700 (19 Rentals)

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

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.

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.

Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

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Franklin Arms
1 to 2 Bedroom Apartments

Franklin Arms

161 Franklin Corner RdLawrenceville, NJ 08648

Pennington, NJ Local Guide

Cheapest Neighborhoods for Apartments in Pennington, NJ

Pricing Updated: 06/15/2025

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
Pennington Hopewell$3,135$1,21545
King's Gate North and East$3,295$1,34587

Cheapest Available Pennington Apartments for Rent and Nearby

 

The cheapest available apartment rental in Pennington, NJ is a 1 Bed unit found at Birchwood at Hopewell (55+) Community in the King's Gate North and East neighborhood priced from $1,345. Versailles Apartments in the Central West neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,525. Here is today’s list of the most affordable Pennington apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Birchwood at Hopewell (55+) Community1 Bedroom1BR,1BA$1,345
Versailles Apartments1 BEDROOM1BR,1BA$1,525
The Gardens at Birmingham2 Bedroom Townhouse2BR,1BA$1,549
Woodbrook House ApartmentsOne Bedroom1BR,1BA$1,575
Colonial Gardens Trenton ProudLarge 2 Bedroom2BR,1BA$1,600

Best Value Apartments for Rent in Pennington, NJ and Nearby

As of June 15, 2025 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 King's Gate North and East neighborhood starting from $1,970. The second greatest value Pennington apartment is the 3 Bedroom Model at Yorkshire Meadows starting at $3,490 with a $2.17 price per square foot in the Princeton Lawrenceville 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
Yorkshire Meadows3 Bedroom3BR,2.5BA$2.17
The Artisan at Lawrenceville3 Bedroom 2 Bathroom3BR,2BA$2.24
Carlton Apartments2 Bedroom Willow2BR,1BA$1.95
Carriage Park at Lawrence (55+)1x11BR,1BA$1.90
The Gardens at Birmingham2 Bedroom Townhouse2BR,1BA$1.53
River's Edge Apartments2 bedroom washer dryer2BR,1BA$2.20
Colonial Gardens Trenton ProudLarge 2 Bedroom2BR,1BA$1.73
Delaware Heights1 Bedroom1BR,1BA$2.10
Birchwood at Hopewell (55+) Community1 Bedroom1BR,1BA$2.01

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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

Frequently Asked Questions about Cheap Pennington Apartments

What is the price of a cheap apartment in Pennington?

The cheapest apartment in Pennington is Birchwood at Hopewell (55+) Community which is listed at $1,345, while the average apartment in Pennington costs $3,215.

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 15 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 $736 which is $2,479 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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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

Written by: Cheryl Bowman

A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.

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

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

Written by: Marie Brown

You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.

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Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.

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The Freedom of Short-Term Leases: Exploring the Advantages for Renters

Written by: Bobbi Jackson

If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.