Cheap Apartments for Rent in the Penrose Neighborhood of El Paso, TX from $300 (39 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Penrose area of El Paso.

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

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Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.

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property at 850 Los Surcos Rd

$1,225

Total Monthly Price

Total Monthly Price

Base Rent
$1,225
Total Monthly Price
$1,225

3 Bedroom, 1.5 Bath Home for Rent

Available Now

850 Los Surcos Rd

El PasoTX79907
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Canyon Square Village
1 to 4 Bedroom Apartments

Canyon Square Village

8622 N Loop DrEl Paso, TX 79907
  • Utilities Included
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North Loop Village
1 to 2 Bedroom Apartments

North Loop Village

8249 North Loop DrEl Paso, TX 79907
  • Utilities Included
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Alvarez Apartments
2 to 4 Bedroom Apartments

Alvarez Apartments

8247 N Loop DrEl Paso, TX 79907
  • Utilities Included
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Sunset Vista Seniors
1 to 2 Bedroom Apartments

Sunset Vista Seniors

1333 Pullman DrEl Paso, TX 79936
Senior Living
  • Utilities Included

Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.

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Keystone Place
1 to 4 Bedroom Apartments

Keystone Place

1331 Pullman DrEl Paso, TX 79936
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Villas del Valle
2 Bedroom Apartments

Villas del Valle

9234-9250 Betel DrEl Paso, TX 79907
  • Utilities Included
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Western Burgundy
2 to 3 Bedroom Apartments

Western Burgundy

815 Burgundy DrEl Paso, TX 79907
  • Utilities Included
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Western Gallagher
2 to 3 Bedroom Apartments

Western Gallagher

450 Gallagher StEl Paso, TX 79915
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Amber Sky Estates
2 Bedroom Apartments

Amber Sky Estates

8685 N Loop DrEl Paso, TX 79907
  • Utilities Included
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North Loop Apartments
1 to 3 Bedroom Apartments

North Loop Apartments

9522 N Loop DrEl Paso, TX 79907
  • Utilities Included

Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.

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Prado Apartments
2 to 3 Bedroom Apartments

Prado Apartments

151 S Prado RdEl Paso, TX 79907
  • Utilities Included
Showing Results 1-39, Page 1 of 1

Penrose, El Paso, TX Local Guide

Cheapest Available Penrose Apartments for Rent

 

The cheapest available apartment rental in the Penrose area of El Paso, TX is a 1 Bed unit found at San Marcos Apartment Homes priced from $785. Tigua Village- All Utilities Included has the second lowest priced unit, which is a 1 Bed apartment currently listed from $801. Here are the most affordable Penrose apartments for rent in El Paso, TX:

Apartment ListingModel NameBed/BathPriced From
San Marcos Apartment HomesAzalea Suit1BR,1BA$785
Tigua Village- All Utilities IncludedOne Bedroom B1BR,1BA$801
Padres Village Apartments2 Bedroom 1 Bath2BR,1BA$855
Valley Place Apartments2 BEDROOM 1 BATH2BR,1BA$860
La Hacienda Apartments2 Bedroom 1 Bath2BR,1BA$900
San Montego2 Bedroom2BR,1BA$900
Spanish Villas1 Bedroom1BR,1BA$965
North Loop Apartments1 Bedroom 1 Bath1BR,1BA$1,125

Best Value Apartments for Rent in Penrose, TX

As of May 24, 2026 the best value apartment in the Penrose area is the $1.20 price per square foot 3 Bedroom Model at Prado Apartments in the in the Ascarate neighborhood starting from $1,198. The second greatest value Penrose apartment is the 333 Milton Rd Model at 333 Milton Rd, Unit A starting at $980 with a $1.14 price per square foot in the Ascarate 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.
Prado Apartments3 Bedroom3BR,2BA$1.20
333 Milton Rd, Unit A333 Milton Rd2BR,1BA$1.14
8493 Roseway Dr, Unit 8493 Roseway Dr Unit A8493 Roseway Dr2BR,1BA$1.12
La Jolla Place Apartments2 Bedroom 1 Bath2BR,1BA$1.40
Valley Place Apartments2 BEDROOM 1 BATH2BR,1BA$1.16
La Hacienda Apartments2 Bedroom 1 Bath2BR,1BA$1.24
San Montego2 Bedroom2BR,1BA$1.29
Padres Village Apartments2 Bedroom 1 Bath2BR,1BA$1.32
Spanish Villas1 Bedroom1BR,1BA$1.49
San Marcos Apartment HomesAzalea Suit1BR,1BA$1.50

Where to Rent in El Paso: A Local's Guide to Apartments Near Major Universities

El Paso is affordable, friendly, and vibrant! Explore Downtown, Golden Hill, Mission Hills, and more to find your perfect apartment near campus.

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Don't Settle: How to Negotiate Your Apartment Lease and Save Money

Discover the insider tips from an attorney and real estate agent on how to negotiate your next apartment lease. Find out what's on the table and what's not, so you can save money and get the best terms possible.

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Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University

From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.

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Quick Rent Budget Calculator

How much rent can you afford?

The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.

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Pet Friendly Lifestyle
Penrose, El Paso, TX

Ranked #147

Among cities in Texas for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

3.0
Pet Friendly

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Frequently Asked Questions about Cheap Penrose Apartments

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

The lowest price for a Cheap One Bedroom Penrose Apartment is $785 at San Marcos Apartment Homes.

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 $850 at San Marcos Apartment Homes.

Expert Rental Resources

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.

Articles, How-To's, and Tips

decorative image for An El Paso, TX Local Expert's Guide to Affordable Neighborhoods for Renters article

An El Paso, TX Local Expert's Guide to Affordable Neighborhoods for Renters

Written by: Lori Rosario

El Paso has been inhabited for thousands of years and still has much to offer people of all ages and walks of life.

decorative image for A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back article

A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back

Written by: Lauren Harrington

I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.

decorative image for Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts article

Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts

Written by: Lauren Harrington

This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

decorative image for What Does “Rent Burdened” Mean? How Much Rent Is Too Much article

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Written by: Lauren Harrington

This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.