Cheap Homes for Rent in Penrose, NC from $400 (9 Rentals)

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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. Hawthorne at Southside in the Bennington Oaks neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $1,163. 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
Hawthorne at SouthsideTIMELESS StudioStudio,1BA$1,163
Audubon PlaceThe Finch1BR,1BA$1,275

Best Value Apartments for Rent in Penrose, NC and Nearby

As of July 30, 2025 the best value apartment in the Penrose area is the $1.35 price per square foot Magnolia Model at Artisan Living Mills River in the in the Kayden Valley neighborhood starting from $2,450. The second greatest value Penrose apartment is the White Water Model at Venture at Long Shoals starting at $1,795 with a $1.52 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$1.35
Venture at Long ShoalsWhite Water2BR,2BA$1.52
Park Residence2 Bedroom2BR,2BA$1.56
Riverstone Apartments at Long ShoalsBradley II2BR,2BA$1.66
Kensington PlaceAppalachían2BR,2BA$1.51
Creekside at ArdenArden 2A2BR,1BA$1.52
Skyland Exchange1BR 1BA (862 SF)1BR,1BA$1.68
Goldelm at The ViewsA1 The Carolina1BR,1BA$1.60
Audubon PlaceThe Finch1BR,1BA$1.59
Dilworth Apartment HomesOne Bedroom Patio1BR,1BA$1.66

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Frequently Asked Questions about Penrose

What type of rentals are currently available in Penrose?

There are currently 39 Apartments for Rent in Penrose, NC with pricing that ranges from $1,125 to $6,213. There are also 33 Single Family Homes for rent, Condos, and Townhome rentals currently available in Penrose ranging from $475 to $4,195.

What is the current price range for Rental Homes in Penrose?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Penrose ranges from $475 to $4,195 with an average monthly rent of $2,137.

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.

decorative image for Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting article

Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Written by: Christine Leonard, Esq.

Throughout the day, think about all the times that you have to pay for something. So many of us reach automatically for a credit card or even our phone for a quick payment.

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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.

decorative image for Know Your Budget: Calculating What You Can Realistically Afford When Renting article

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.