
Cheap Apartments for Rent in Penrose, NC from $300 (26 Rentals)
Search the lowest-cost Apartments available for rent right now in Penrose.


Hawkins Pointe

Venture at Long Shoals

The Residences at Chadwick Square Court

Kensington Place

The Villas at Avery Creek

Universal at Lakewood

Hawthorne at Southside

Nova at Biltmore Park

Dream Asheville Exchange

Retreat at Arden Farms

Brittany Place Apartment Homes

Park Residence

Skyland Exchange

Goldelm at The Views

Grey Mill Apartments

Dilworth Apartment Homes

Palisades of Asheville

Riverstone Apartments at Long Shoals

Ballantyne Commons Apartments

Seasons at Cane Creek

16 Tuckaway Ln

61 Bent Oaks Ln

326 Spring St
Penrose, NC Local Guide

How much does it cost to rent an apartment in Penrose?
Bedroom | Average Rent | Cheapest Rent | Highest Rent |
---|---|---|---|
Penrose Studio Apartments | $1,723 | $1,055 | $3,868 |
Penrose 1 Bedroom Apartments | $1,648 | $916 | $3,744 |
Penrose 2 Bedroom Apartments | $2,008 | $337 | $4,616 |
Penrose 3 Bedroom Apartments | $2,424 | $1,695 | $7,664 |
Penrose 4 Bedroom Apartments | $2,750 | $2,750 | $2,750 |
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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 1 Bed unit found at The Villas at Avery Creek in the Kayden Valley neighborhood priced from $1,189. Kensington Place in the King Heights neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,220. Here is today’s list of the most affordable Penrose apartments for rent:
Apartment Listing | Model Name | Bed/Bath | Priced From |
---|---|---|---|
The Villas at Avery Creek | 1 Bedroom Second Level - 680sf | 1BR,1BA | $1,189 |
Kensington Place | Catawba | 1BR,1BA | $1,220 |
Universal at Lakewood | 1 Bedroom First Level - 680sf | 1BR,1BA | $1,269 |
Hawthorne at Southside | TIMELESS Cedar | 1BR,1BA | $1,290 |
Nova at Biltmore Park | The Willow | 1BR,1BA | $1,299 |
Dream Asheville Exchange | A1 | 1BR,1BA | $1,299 |
Retreat at Arden Farms | A2 | 1BR,1BA | $1,325 |
Goldelm at The Views | A1 The Carolina | 1BR,1BA | $1,343 |
Dilworth Apartment Homes | One Bedroom Sunroom | 1BR,1BA | $1,355 |
Audubon Place | The Finch | 1BR,1BA | $1,360 |
Best Value Apartments for Rent in Penrose, NC and Nearby
As of March 26, 2025 the best value apartment in the Penrose area is the $1.40 price per square foot Magnolia Model at Artisan Living Mills River in the in the Kayden Valley neighborhood starting from $2,550. The second greatest value Penrose apartment is the Clingmans Garden Model at SouthRidge Apartments and Townhomes starting at $1,660 with a $1.53 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 | $1.40 |
SouthRidge Apartments and Townhomes | Clingmans Garden | 2BR,2BA | $1.53 |
Park Residence | 2 Bedroom | 2BR,2BA | $1.56 |
Goldelm at The Views | B2 The Biltmore | 2BR,2BA | $1.68 |
Riverstone Apartments at Long Shoals | Bradley II | 2BR,2BA | $1.69 |
Dilworth Apartment Homes | One Bedroom Sunroom | 1BR,1BA | $1.61 |
Brittany Place Apartment Homes | The Opal | 1BR,1BA | $1.62 |
Retreat at Arden Farms | A2 | 1BR,1BA | $1.71 |
Nova at Biltmore Park | The Oak | 1BR,1BA | $1.71 |
Kensington Place | Catawba | 1BR,1BA | $1.74 |
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Pet Friendly LifestylePenrose, NC
Ranked #20
Among cities in North Carolina for Apartment listings with Pet Friendly Amenities
Pet Friendliness Lifestyle Score
2.5Pet Friendly
Remember the 3 Rules of Real Estate:Location, Location, Location!
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Frequently Asked Questions about Cheap Penrose Apartments
What is the Cheapest Studio apartment in Penrose?
Currently the most affordable Cheap Studio Apartment in Penrose is at Weirbridge Village listed at $1,486.
How much is rent for a Cheap One Bedroom Penrose Apartment?
The lowest price for a Cheap One Bedroom Penrose Apartment is $1,189 at The Villas at Avery Creek.
What is the lowest price for a Cheap Two Bedroom Penrose Apartment for rent?
Today's best deal for a Cheap Two Bedroom Apartment in Penrose is starting from $1,417 at Hawthorne at Southside.
What is the most affordable Penrose Three Bedroom Apartment?
The best deal on a cheap Penrose Three Bedroom Apartment rental is at Kensington Place and starts from $1,695.
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.

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.

How Your Move-In Inspection Can Protect Your Security Deposit
Written by: Christine Leonard, Esq.
If you’re anything like most people, housing costs represent a huge chunk of your monthly budget. On top of that, moving can be both a stressful and expensive affair.