Cheap Apartments for Rent in the Penelope Neighborhood of Atlanta, GA from $500 (57 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Penelope area of Atlanta.

Atlanta's Best Affordable Neighborhoods

Learn about Atlanta and the best places to live with original content written by our Atlanta, GA Local Expert Jan Boling

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property at 785 Gary Rd NW

785 Gary Rd NW

AtlantaGA30318
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Seven Courts
1 to 2 Bedroom Apartments

Seven Courts

2800 Martin Luther King Jr Dr SWAtlanta, GA 30311
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Cascade Garden
2 Bedroom Apartments

Cascade Garden

763 SW Cascade AveAtlanta, GA 30310
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Kings Court Apartments
2 Bedroom Apartments

Kings Court Apartments

2099 Martin Luther King DrAtlanta, GA 30310
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Dogwood Apartments
1 Bedroom Apartments

Dogwood Apartments

95 SW Peyton RdAtlanta, GA 30311
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Ashby Park Apartments
1 to 3 Bedroom Apartments

Ashby Park Apartments

880 Rock St NWAtlanta, GA 30314
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Fairway Court Apartments
2 to 3 Bedroom Apartments

Fairway Court Apartments

1247 Joseph E. Boone BlvdAtlanta, GA 30314
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Westpoint View
1 to 2 Bedroom Apartments

Westpoint View

1197 Simpson Rd NWAtlanta, GA 30314
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Penelope, Atlanta, GA Local Guide

Cheapest Available Penelope Apartments for Rent

 

The cheapest available apartment rental in the Penelope area of Atlanta, GA is a 1 Bed unit found at Intrada Westside Apartments priced from $875. Residences at Westview has the second lowest priced unit, which is a 1 Bed apartment currently listed from $894. Here are the most affordable Penelope apartments for rent in Atlanta, GA:

Apartment ListingModel NameBed/BathPriced From
Intrada Westside Apartments1 Bedroom1BR,1BA$875
Residences at Westview1Bed/1 Bath1BR,1BA$894
The Mallory Apartments 55+ Active AdultA 60%1BR,1BA$899
Ashley CollegetownThe Allegro1BR,1BA$907
Parkside at Quarry Yards1 Bedroom1BR,1BA$930
Martin Manor2 Beds, 1 bath2BR,1BA$950
1295 West Apartments1 Bedroom1BR,1BA$995
Donnelly CourtDonnelly Court2BR,1BA$999
Peaks of MLK1BR/1BA1BR,1BA$1,052
12Hundred Studios1/1.00Studio,1BA$1,119

Best Value Apartments for Rent in Penelope, GA

As of April 16, 2025 the best value apartment in the Penelope area is the $1.16 price per square foot The Sonata Model at Ashley Collegetown in the in the West End neighborhood starting from $1,845. The second greatest value Penelope apartment is the 3 Bedroom Model at Parkside at Quarry Yards starting at $1,275 with a $1.13 price per square foot in the Vine City neighborhood. Here is today’s list of the best values for Penelope apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Ashley CollegetownThe Sonata3BR,2.5BA$1.16
Parkside at Quarry Yards3 Bedroom3BR,2BA$1.13
177 Peyton Pl SW2 Bed2BR,1.5BA$1.44
345 Lanier2x12BR,1BA$1.21
Donnelly CourtDonnelly Court2BR,1BA$1.11
The Oasis on Cascade2 Bed 1 Bath2BR,1BA$1.33
Martin Manor2 Beds, 1 bath2BR,1BA$1.12
San Pedro Property1 Bed 1 Bath1BR,1BA$1.50
Residences at Westview1Bed/1 Bath1BR,1BA$1.21
Intrada Westside Apartments1 Bedroom1BR,1BA$1.26

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Pet Friendly Lifestyle
Penelope, Atlanta, GA

Ranked #366

Among neighborhoods in Atlanta, GA for Apartment listings with Pet Friendly Amenities

Pet Friendliness Lifestyle Score

3.5
Pet Friendly

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Best Local Schools in
Penelope, Atlanta, GA

School data provided by Great Schools

Frequently Asked Questions about Cheap Penelope Apartments

What is a cheap apartment in Penelope?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Penelope is under $1,119.

What is the price of a cheap apartment in Penelope?

The cheapest apartment in Penelope is Intrada Westside Apartments which is listed at $875, while the average apartment in Penelope costs $2,720.

What types of apartments are the cheapest in Penelope?

Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 201 regular apartments in Penelope that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

How do the prices of cheap apartments compare to the average apartment in Penelope?

Cheap apartments in Penelope have an average cost of $1,258 which is $1,462 cheaper than the average rent for all rentals in Penelope.

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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Know Your Rights - How Discrimination Laws Impact Landlords and Tenants

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Often, in the excitement of finding a new place to live, there’s a rush to make it happen, and - too often - a new tenant signs a lease without reading it carefully.