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Studio Apartment for Rent in Penn Valley, CA

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    $1,400 Per Month

    • Studio
    • 1 Bath
    • 700 Sq Ft
    • Townhouse for Rent

    17801 Penn Valley Dr, Penn Valley, CA 95946

    Charming Penn Valley Studio Available Now Spacious and bright studio available now in Penn Valley. This private studio offers a comfortable living space with abundant natural light, a full kitchen, and a spacious bathroom. Please note the studio shares a structure with occupied main house. Property Features • Spacious studio floor plan • Full kitchen • Large bathroom

    17801 Penn Valley Dr, Penn Valley, CA 95946

Why Live in Penn Valley

Penn Valley, CA, located at the foothills of the Sierra Mountains, is a rural community with suburban elements. Historically known for its farmland during California's Gold Rush, Penn Valley now features homes on expansive acreage and smaller residential lots, including ranch styles, farmhouse styles, and custom builds. Some newer properties showcase old-world designs like Mediterranean and Victorian. The area includes Lake Wildwood, a gated community with homes overlooking an 18-hole golf course and a 300-acre lake, offering private parks and over 40 clubs. Residents enjoy recreational activities at Western Gateway Park, which spans nearly 90 acres and includes a swimming lake, sports courts, baseball fields, an 18-hole disc golf course, playgrounds, and an off-leash dog park. The Hamilton Raptor Center educates the public on birds of prey, while South Yuba River State Park features 9 trails, swimming holes, and historic bridges. Dining options in Penn Valley include Players Restaurant and Sports Bar, Daybreak Cafe, Blue Cow Deli, and Crazy 4 Yogurt. Shopping is centered around Penn Valley Drive and Highway 20, with local retailers like True Value Fence and Ranch Supply and Pearsons Feed. The Penn Valley Rodeo, a significant annual event, supports community initiatives such as scholarships for agriculture students and paramedics. Although Penn Valley poses a fire risk, with a notable wildfire in 2024, it remains a community with diverse recreational and dining options, and a blend of rural and suburban lifestyles.

Frequently Asked Questions

How much does it cost to rent a home in Penn Valley, CA?
The median rent for a home in Penn Valley, CA is $2,547 per month, though prices vary by neighborhood, size, and property type. As of September 2026, townhouses tend to be the most affordable option while single-family homes are currently more expensive.
How much do you need to make to afford rent in Penn Valley, CA?
To comfortably afford the median rent in Penn Valley, CA, a household needs to earn roughly $101,880 per year. This is based on the common guideline that households should spend no more than 30% of gross income on housing. Most landlords require monthly household income of at least 3x the monthly rent, and with a median rent of $2,547 per month in Penn Valley, CA, renters typically need to show $7,641 per month in gross income to qualify. Actual affordability will vary depending on household debts, other living expenses, and overall budget.
Is it more affordable to rent or buy in Penn Valley, CA?
In Penn Valley, CA, the price-to-rent ratio is 16.5, which generally favors renting. This ratio divides the median home price by the annual median rent: below 15 typically favors buying, 15 to 20 is balanced, and above 20 typically favors renting. Your finances, how long you plan to stay, and costs like mortgage rates, taxes, and maintenance all factor into the decision.

Rental Home Trends

Number of Homes for Rent
1
Median Rent
$2,547
Median Single Family Home Rent
$2,595
Median Townhouse Rent
$1,400
How to Rent a Home