Cheap Apartments for Rent in Penrose, NC from $300 (44 Rentals)

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

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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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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Hawkins Pointe
1 to 2 Bedroom Apartments

Hawkins Pointe

750 6th Ave WHendersonville, NC 28739
Senior Living

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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The Ashe
1 to 3 Bedroom Apartments

The Ashe

8 Duncan LnArden, NC 28704

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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Showing Results 1-44, Page 1 of 1

Penrose, NC Local Guide

Cheapest Available Penrose Apartments for Rent and Nearby

 

The cheapest available apartment rental in Penrose, NC is a Studio unit found at Venture at Lake Julian in the Kashmir neighborhood priced from $1,098. Kensington Place in the King Heights neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $1,150. Here is today’s list of the most affordable Penrose apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Venture at Lake JulianGlenvilleStudio,1BA$1,098
Kensington PlaceStudioStudio,1BA$1,150
Vetra AshevilleThe Maple1BR,1BA$1,199
Hawthorne at SouthsideTIMELESS Cedar1BR,1BA$1,275
Brittany Place Apartment HomesThe Grenadier1BR,1BA$1,275
Dilworth Apartment HomesOne Bedroom Patio1BR,1BA$1,275
Palisades of AshevilleThe Drake w/ Sunroom1BR,1BA$1,295
Avalon at Sweeten CreekDrake w/Patio1BR,1BA$1,295
Dream Asheville ExchangeA11BR,1BA$1,299
Universal at Lakewood1 Bedroom with Drive Under Garage - 680sf1BR,1BA$1,299

Best Value Apartments for Rent in Penrose, NC and Nearby

As of November 06, 2025 the best value apartment in the Penrose area is the $1.37 price per square foot Dogwood Model at Artisan Living Mills River in the in the Kayden Valley neighborhood starting from $3,050. The second greatest value Penrose apartment is the Chestoa Model at Mountain View starting at $1,549 with a $1.30 price per square foot in the Bennington Oaks neighborhood. Here is today’s list of the best values for Penrose apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Artisan Living Mills RiverDogwood4BR,3BA$1.37
Mountain ViewChestoa2BR,2BA$1.30
The Residences at Chadwick Square CourtTwo Bedroom2BR,2BA$1.33
SouthRidge Apartments and TownhomesClingmans Garden2BR,2BA$1.35
Park Residence2 Bedroom2BR,2BA$1.56
Goldelm at The ViewsB2 The Biltmore2BR,2BA$1.31
Charleston at the Meadows2 Bed/1 Bath Upgraded2BR,1BA$1.57
Seasons at Cane CreekDrake- Sunroom1BR,1BA$1.60
Dilworth Apartment HomesOne Bedroom Patio1BR,1BA$1.63
Vetra AshevilleThe Maple1BR,1BA$1.56

Apartment Common Area Rules: What Renters Need to Know

From the lounge to the laundry room, understand your rights and responsibilities in shared apartment spaces. Get tips on pet rules, noise, and security.

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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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Quick Rent Budget Calculator

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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Pet Friendly Lifestyle
Penrose, NC

Ranked #35

Among cities in North Carolina for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

2.5
Pet Friendly

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

Explore Penrose, NC Rentals by Map

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See the most popular apartments and homes in Penrose, NC

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Frequently Asked Questions about Cheap Penrose Apartments

What is the Cheapest Studio apartment in Penrose?

Currently the most affordable Cheap Studio Apartment in Penrose is at Venture at Lake Julian listed at $1,098.

How much is rent for a Cheap One Bedroom Penrose Apartment?

The lowest price for a Cheap One Bedroom Penrose Apartment is $1,172 at Venture at Lake Julian.

What is the lowest price for a Cheap Two Bedroom Penrose Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Penrose is starting from $1,390 at Charleston at the Meadows.

What is the most affordable Penrose Three Bedroom Apartment?

The best deal on a cheap Penrose Three Bedroom Apartment rental is at Vetra Asheville and starts from $1,599.

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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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! 

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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.