Cheap Apartments for Rent in Penrose, NC from $300 (24 Rentals)

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

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Penrose, NC Local Guide

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 ListingModel NameBed/BathPriced From
The Villas at Avery Creek1 Bedroom Second Level - 680sf1BR,1BA$1,189
Kensington PlaceCatawba1BR,1BA$1,220
Hawthorne at SouthsideTIMELESS Sterling1BR,1BA$1,266
Universal at Lakewood1 Bedroom First Level - 680sf1BR,1BA$1,269
Nova at Biltmore ParkThe Maple1BR,1BA$1,299

Best Value Apartments for Rent in Penrose, NC and Nearby

As of March 12, 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 2N Model at Biltmore Park Town Square starting at $2,670 with a $1.78 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 ListingModel NameBed/BathPrice Per Sq.Ft.
Artisan Living Mills RiverMagnolia3BR,2.5BA$1.40
Biltmore Park Town Square2N2BR,2BA$1.78
SouthRidge Apartments and TownhomesClingmans Garden2BR,2BA$1.56
Park Residence2 Bedroom2BR,2BA$1.56
Riverstone Apartments at Long ShoalsBelhaven II2BR,2BA$1.65
Brittany Place Apartment HomesThe Opal1BR,1BA$1.62
Audubon PlaceSandpiper1BR,1BA$1.73
Seasons at Cane CreekDrake -Patio1BR,1BA$1.79
Dilworth Apartment HomesOne Bedroom Patio1BR,1BA$1.79
Kensington PlaceCatawba1BR,1BA$1.74

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Pet Friendly Lifestyle
Penrose, NC

Ranked #23

Among cities in North Carolina for Apartment listings with Pet Friendly Amenities

Pet Friendliness Lifestyle Score

2.5
Pet Friendly

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Remember the 3 Rules of Real Estate:
Location, Location, Location!

Explore Penrose, NC Rentals by Map

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See the most popular apartments and homes in Penrose, NC

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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 $1,441.

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 $1,395 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.

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Understanding Amenity Fees: Know Where You Might Be Able to Save Money

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What to Know About Fees and Fines When Renting

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Battling the Butts: Your Guide to the Reality of Smoke-Free Renting

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