Cheap Apartments for Rent in Penrose, NC from $300 (42 Rentals)

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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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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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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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Hawkins Pointe
1 to 2 Bedroom Apartments

Hawkins Pointe

750 6th Ave WHendersonville, NC 28739
Senior Living

Navigating the Rental Market: Tips for First-Time Renters

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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Showing Results 1-42, 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 Kensington Place in the King Heights neighborhood priced from $1,055. Weirbridge Village in the Bennington Oaks neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $1,191. Here is today’s list of the most affordable Penrose apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Kensington PlaceSummitStudio,1BA$1,055
Weirbridge VillageThe DogwoodStudio,1BA$1,191
Universal at Lakewood1 Bedroom Second Level - 680sf1BR,1BA$1,219
Hawthorne at SouthsideTIMELESS Sterling1BR,1BA$1,275
Brittany Place HendersonvilleThe Grenadier1BR,1BA$1,275
DilworthThe Pisgah1BR,1BA$1,275
Retreat at Arden FarmsA1 & A31BR,1BA$1,276
Goldelm at The ViewsA1 The Carolina1BR,1BA$1,298
Vetra AshevilleThe Dogwood2BR,2BA$1,299
Palisades of AshevilleThe Drake with Sunroom1BR,1BA$1,320

Best Value Apartments for Rent in Penrose, NC and Nearby

As of January 09, 2026 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 Chimney Rock Model at Mountain View starting at $1,899 with a $1.50 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 ViewChimney Rock3BR,2BA$1.50
Park Residence2 Bedroom2BR,2BA$1.35
SouthRidge Apartments and TownhomesClingmans Garden2BR,2BA$1.47
The Villas at Avery Creek2 Bedroom, 1.5BA Townhome2BR,1.5BA$1.51
Charleston at the Meadows2 Bed/1 Bath Upgraded2BR,1BA$1.52
Skyland Exchange Apartments1BR 1BA (822 SF)1BR,1BA$1.64
Goldelm at The ViewsA1 The Carolina1BR,1BA$1.59
Retreat at Arden FarmsA1 & A31BR,1BA$1.60
DilworthThe Pisgah1BR,1BA$1.63

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

Explore Penrose, NC Rentals by Map

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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 Kensington Place listed at $1,055.

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

The lowest price for a Cheap One Bedroom Penrose Apartment is $1,219 at Universal at Lakewood.

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 $1,299 at Vetra Asheville.

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

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!