
Cheap Apartments for Rent in the Penelope Neighborhood of Atlanta, GA from $600 (44 Rentals)
Search the lowest-cost Apartments available for rent right now in the Penelope area of Atlanta.


Residences at Westview

The Mallory Apartments 55+ Active Adult

Parkside at Quarry Yards

64 Willis Mill Rd SW

Villas of Hope Apartments

Martin Manor

Ashley Collegetown

1295 West Apartments
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

371 Lanier St NW

The Lowery

199 Arcadia Cir NW

Dwell atThe Alcove

The Oasis on Cascade

San Pedro Property

785 Gary Rd NW

Veranda at Collegetown - 62+ SENIOR COMMUNITY

Park Commons Apartments -Senior Living
Penelope, Atlanta, GA Local Guide

How much does it cost to rent an apartment in Penelope?
Bedroom | Average Rent | Cheapest Rent | Highest Rent |
---|---|---|---|
Penelope Studio Apartments | $1,938 | $811 | $10,000+ |
Penelope 1 Bedroom Apartments | $1,894 | $875 | $6,333 |
Penelope 2 Bedroom Apartments | $2,144 | $950 | $6,036 |
Penelope 3 Bedroom Apartments | $2,367 | $1,191 | $5,040 |
Penelope 4 Bedroom Apartments | $1,412 | $1,099 | $2,500 |
Browse Apartments in this Neighborhood
There are currently 44 rentals with your search options within a 2 mile radius of the Penelope Neighborhood of Atlanta, GA.
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Penelope, Atlanta, GA Local Guide
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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 Listing | Model Name | Bed/Bath | Priced From |
---|---|---|---|
Intrada Westside Apartments | 1 Bedroom | 1BR,1BA | $875 |
Residences at Westview | 1Bed/1 Bath | 1BR,1BA | $894 |
The Mallory Apartments 55+ Active Adult | A 60% | 1BR,1BA | $899 |
Parkside at Quarry Yards | 1 Bedroom | 1BR,1BA | $930 |
Ashley Collegetown | The Allegro | 1BR,1BA | $953 |
1295 West Apartments | 1 Bedroom | 1BR,1BA | $995 |
Donnelly Court | Donnelly Court | 2BR,1BA | $999 |
12Hundred Studios | 1/1.00 | Studio,1BA | $1,119 |
345 Lanier | 2x1 | 2BR,1BA | $1,150 |
Best Value Apartments for Rent in Penelope, GA
As of March 25, 2025 the best value apartment in the Penelope area is the $0.94 price per square foot 1355 Lucile Ave SW Model at 1355 Lucile Ave SW, Unit 1 in the in the West End neighborhood starting from $1,700. 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 Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
---|---|---|---|
1355 Lucile Ave SW, Unit 1 | 1355 Lucile Ave SW | 3BR,2.5BA | $0.94 |
Parkside at Quarry Yards | 3 Bedroom | 3BR,2BA | $1.13 |
177 Peyton Pl SW | 2 Bed | 2BR,1.5BA | $1.44 |
345 Lanier | 2x1 | 2BR,1BA | $1.21 |
Donnelly Court | Donnelly Court | 2BR,1BA | $1.11 |
The Oasis on Cascade | 2 Bed 1 Bath | 2BR,1BA | $1.33 |
Ashley Collegetown | The Allegro | 1BR,1BA | $1.19 |
San Pedro Property | 1 Bed 1 Bath | 1BR,1BA | $1.50 |
Residences at Westview | 1Bed/1 Bath | 1BR,1BA | $1.21 |
Intrada Westside Apartments | 1 Bedroom | 1BR,1BA | $1.26 |
Quick Rent Budget Calculator
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Pet Friendly LifestylePenelope, Atlanta, GA
Ranked #358
Among neighborhoods in Atlanta, GA for Apartment listings with Pet Friendly Amenities
Pet Friendliness Lifestyle Score
3.0Pet Friendly
Best Local Schools in Penelope, Atlanta, GA
School data provided by Great Schools
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 $1,150.
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 $2,575.
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 6,654 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 $1,260 which is $1,315 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.

An Atlanta Local Expert’s Guide To 10 Budget-Friendly Neighborhoods to Rent in the Atlanta Area
Written by: Jan Boling
Atlanta, Georgia is a large, modern city with many neighborhoods that welcome both newcomers and natives.

Understanding Amenity Fees: Know Where You Might Be Able to Save Money
Written by: Amber Kanuckel
With the rising costs of housing, a lot of renters are asking this question: Is it possible to opt out of various amenities that your rental property offers so that you can avoid paying the fees.

Renting Smart: Lease Basics Every Renter Needs
Written by: Christine Leonard, Esq.
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.

Battling the Butts: Your Guide to the Reality of Smoke-Free Renting
Written by: Andrea Lee Negroni, JD
While many apartment buildings are “no smoking” properties, it’s hard to know exactly how many. In 2017, the National Apartment Association reported more than half of rental properties had smoke free policies.