Cheap Apartments for Rent in Penobscot, ME from $500 (16 Rentals)

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

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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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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347 Ridge Road
Studio to 2 Bedroom Apartments

347 Ridge Road

347 Ridge RoadFairfield, ME 04937
  • Utilities Included

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property at 23 Church St

23 Church St

OaklandME04963
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Penobscot, ME Local Guide

Cheapest Available Penobscot Apartments for Rent and Nearby

 

The cheapest available apartment rental in Penobscot, ME is a 1 Bed unit found at Orchard Park Apartments priced from $1,275. Cedarwoods Apartments in the Downtown Bangor neighborhood has the second lowest priced unit, which is a 2 Beds apartment currently listed from $1,325. Here is today’s list of the most affordable Penobscot apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Orchard Park Apartments1 Bedroom1BR,1BA$1,275
Cedarwoods Apartments2 Bedroom (units 9-64)2BR,1BA$1,325
The Ridges1 BR, 1BA1BR,1BA$1,375
Haven WestHW-A12BR,1BA$1,566
Mayo MillB1122BR,1BA$1,675

Best Value Apartments for Rent in Penobscot, ME and Nearby

As of May 11, 2025 the best value apartment in the Penobscot area is the $1.34 price per square foot B112 Model at Mayo Mill in the starting from $1,675. The second greatest value Penobscot apartment is the 3 Bedroom, 3 Bath Model at The Reserve at Orono starting at $869 with a $0.72 price per square foot . Here is today’s list of the best values for Penobscot apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Mayo MillB1122BR,1BA$1.34
The Reserve at Orono3 Bedroom, 3 Bath3BR,3BA$0.72
The RidgesFurnished 1 BR, 1 BA, Large Office/Den1BR,1BA$2.20
Cedarwoods Apartments2 Bedroom (units 89-112)2BR,1BA$1.72
Tower 991 bed1BR,1BA$2.67
Haven WestHW-A12BR,1BA$2.09
Orchard Park Apartments1 Bedroom1BR,1BA$1.82
Atlantic PointeThe Bowdoin1BR,1BA$3.30
The Sandpiper ResidencesThe Freeport1BR,1BA$4.05

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Frequently Asked Questions about Cheap Penobscot Apartments

How much is rent for a Cheap One Bedroom Penobscot Apartment?

The lowest price for a Cheap One Bedroom Penobscot Apartment is $1,275 at Orchard Park Apartments.

What is the lowest price for a Cheap Two Bedroom Penobscot Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Penobscot is starting from $1,325 at Cedarwoods Apartments.

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 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.

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The Freedom of Short-Term Leases: Exploring the Advantages for Renters

Written by: Bobbi Jackson

If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.

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Navigating the Rental Market: Tips for First-Time Renters

Written by: Sandy Baker

Making the decision to rent is exciting and terrifying at the same time. For many people, there are a lot of unknowns.

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Rise of Digital Nomads: Remote Work Tips for Apartment Renters

Written by: Brandie Parton

As a digital nomad, you no longer call a set address or office building your home for eight hours of the day or more.