Cheap Apartments for Rent in Penrose, NC from $300 (41 Rentals)

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

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Creekside at Arden
$1,225 - $1,475
Total Monthly Price

Total Monthly Price

Base Rent
$1,210 - $1,460
Required Monthly Fees
$15
Total Monthly Price
$1,225 - $1,475
Studio to 3 Bedroom Apartments Available Now

Creekside at Arden

200 Park South BlvdArden, NC 28704
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  • Customer Reviewed
  • Utilities Included

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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Retreat at Arden Farms
Rent Specials
$1,248 - $5,185
Total Monthly Price

Total Monthly Price

Base Rent
$1,193 - $5,130
Required Monthly Fees
$55
Total Monthly Price
$1,248 - $5,185
1 to 3 Bedroom Apartments Available Now

Retreat at Arden Farms

10 Arden Farms LnArden, NC 28704
Corporate Housing
  • Verified
  • Customer Reviewed
  • 3D Tour

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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Arden Pines Luxury Apartments
Rent Specials
$1,445 - $2,515
Total Monthly Price

Total Monthly Price

Base Rent
$1,351 - $2,421
Required Monthly Fees
$94
Total Monthly Price
$1,445 - $2,515
1 to 3 Bedroom Apartments Available Now

Arden Pines Luxury Apartments

103 Arden Pines TrlArden, NC 28704
Family Friendly
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  • 3D Tour

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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The Wilmont at Hendersonville
Rent Specials
$1,475 - $2,375
Total Monthly Price

Total Monthly Price

Base Rent
$1,435 - $2,335
Required Monthly Fees
$40
Total Monthly Price
$1,475 - $2,375
1 to 3 Bedroom Apartments Available Now

The Wilmont at Hendersonville

209 Wilmont Ests DrHendersonville, NC 28792
Luxury
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  • 3D Tour
  • Smoke Free
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The Ashe
Rent Specials
$1,500 - $4,495
Total Monthly Price

Total Monthly Price

Base Rent
$1,405 - $4,400
Required Monthly Fees
$95
Total Monthly Price
$1,500 - $4,495
1 to 3 Bedroom Apartments Available Now

The Ashe

8 Duncan LnArden, NC 28704
Corporate Housing
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  • 3D Tour
  • Smoke Free
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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 1-41, 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. Vetra Asheville in the Kashmir neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,149. Here is today’s list of the most affordable Penrose apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Kensington PlaceSummitStudio,1BA$1,055
Vetra AshevilleThe Oak1BR,1BA$1,149
Creekside at ArdenArden Studio 1BStudio,1BA$1,225
Universal at Lakewood1 Bedroom First Level - 680sf1BR,1BA$1,239
Retreat at Arden FarmsArden1BR,1BA$1,248
The Villas at Avery Creek1 Bedroom First Level - 680sf1BR,1BA$1,259
Brittany Place HendersonvilleThe Grenadier1BR,1BA$1,265
DilworthThe Mitchell1BR,1BA$1,285
Riverstone Apartments at Long ShoalsArlington B1BR,1BA$1,295
Palisades of AshevilleThe Drake with Sunroom1BR,1BA$1,295

Best Value Apartments for Rent in Penrose, NC and Nearby

As of March 06, 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 $2,022 with a $1.60 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$1.60
SouthRidge Apartments and TownhomesClingmans Garden2BR,2BA$1.47
Weirbridge VillageThe Laurel1BR,1BA$1.63
Charleston at the Meadows2 Bed/1 Bath Upgraded2BR,1BA$1.65
Park Residence1 bedroom1BR,1BA$1.55
Retreat at Arden FarmsAsheville1BR,1BA$1.59
Goldelm at The ViewsA1 The Carolina1BR,1BA$1.60
DilworthThe Pisgah1BR,1BA$1.66
Vetra AshevilleThe Oak1BR,1BA$1.51

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

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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 $1,149 at Vetra Asheville.

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 $1,349 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 Hawthorne at Southside and starts from $1,682.

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 Maximizing Your Refund: Essential Tax Tips for Renters article

Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.

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18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

Written by: Lauren Harrington

Renting your next home can feel thrilling and overwhelming at the same time.

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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.