Cheap Apartments for Rent in Penrose, NC from $300 (30 Rentals)

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

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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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Hawkins Pointe
1 to 2 Bedroom Apartments

Hawkins Pointe

750 6th Ave WHendersonville, NC 28739
Senior Living

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Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

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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. Universal at Lakewood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,099. 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
Universal at Lakewood1 Bedroom Second Level - 680sf1BR,1BA$1,099
The Villas at Avery Creek1 Bedroom with Drive Under Garage - 680sf1BR,1BA$1,177
Dilworth Apartment HomesOne Bedroom Sunroom1BR,1BA$1,285
Nova at Biltmore ParkThe Maple1BR,1BA$1,299
Brittany Place Apartment HomesThe Grenadier1BR,1BA$1,315
Skyland Exchange1BR 1BA (788 SF)1BR,1BA$1,360
Hawthorne at SouthsideTIMELESS Linville1BR,1BA$1,372
Palisades of AshevilleThe Drake w/ Patio1BR,1BA$1,375
Avalon at Sweeten CreekDrake w/Sunroom1BR,1BA$1,375

Best Value Apartments for Rent in Penrose, NC and Nearby

As of June 09, 2025 the best value apartment in the Penrose area is the $1.40 price per square foot Magnolia Model at Artisan Living Mills River in the in the Kayden Valley neighborhood starting from $2,550. The second greatest value Penrose apartment is the The Whippoorwill Model at Audubon Place starting at $1,595 with a $1.41 price per square foot in the Kashmir 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 RiverMagnolia3BR,2.5BA$1.40
Audubon PlaceThe Whippoorwill2BR,2BA$1.41
SouthRidge Apartments and TownhomesClingmans Garden2BR,2BA$1.53
Park Residence2 Bedroom2BR,2BA$1.56
Goldelm at The ViewsA1 The Carolina1BR,1BA$1.76
Seasons at Cane CreekDrake -Patio1BR,1BA$1.79
Dilworth Apartment HomesOne Bedroom Patio1BR,1BA$1.77
Palisades of AshevilleThe Drake w/ Patio1BR,1BA$1.77
Nova at Biltmore ParkThe Oak1BR,1BA$1.71
Brittany Place Apartment HomesThe Grenadier1BR,1BA$1.75

Quick Rent Budget Calculator

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Pet Friendly Lifestyle
Penrose, NC

Ranked #31

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

Pet Friendliness Lifestyle Score

3.0
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 $999 at The Villas at Avery Creek.

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 $1,425 at Hawthorne at Southside.

What is the most affordable Penrose Three Bedroom Apartment?

The best deal on a cheap Penrose Three Bedroom Apartment rental is at Nova at Biltmore Park and starts from $1,699.

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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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.

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Navigating the Rental Market: Tips for First-Time Renters

Written by: Sandy Baker

Making the decision to rent is exciting and terrifying at the same time. For many people, there are a lot of unknowns.