
Cheap Homes for Rent in Penrose, NC from $400 (9 Rentals)
Search the lowest-cost Homes available for rent right now in Penrose.


580 Courtwood Ln

1418 5th Ave W

581 Courtwood Ln

528 Fleming St

530 Courtwood Ln

1316 Hyman Ave

123 Wells St

538 Broadway St
Penrose, NC Local Guide

How much does it cost to rent a home in Penrose?
Bedroom | Average Rent | Cheapest Rent | Highest Rent |
---|---|---|---|
Penrose 2 Bedroom Homes for Rent | $1,870 | $1,275 | $2,395 |
Penrose 3 Bedroom Homes for Rent | $2,489 | $1,995 | $3,200 |
Penrose 4 Bedroom Homes for Rent | $4,195 | $4,195 | $4,195 |
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Penrose, NC Local Guide
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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 Listing | Model Name | Bed/Bath | Priced From |
---|---|---|---|
Venture at Lake Julian | Glenville | Studio,1BA | $1,098 |
Hawthorne at Southside | TIMELESS Studio | Studio,1BA | $1,163 |
Audubon Place | The Finch | 1BR,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 Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
---|---|---|---|
Artisan Living Mills River | Magnolia | 3BR,2.5BA | $1.35 |
Venture at Long Shoals | White Water | 2BR,2BA | $1.52 |
Park Residence | 2 Bedroom | 2BR,2BA | $1.56 |
Riverstone Apartments at Long Shoals | Bradley II | 2BR,2BA | $1.66 |
Kensington Place | Appalachían | 2BR,2BA | $1.51 |
Creekside at Arden | Arden 2A | 2BR,1BA | $1.52 |
Skyland Exchange | 1BR 1BA (862 SF) | 1BR,1BA | $1.68 |
Goldelm at The Views | A1 The Carolina | 1BR,1BA | $1.60 |
Audubon Place | The Finch | 1BR,1BA | $1.59 |
Dilworth Apartment Homes | One Bedroom Patio | 1BR,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.

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.

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.

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.

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.