
Cheap Apartments for Rent in the Penrose Neighborhood of El Paso, TX from $300 (20 Rentals)
Search the lowest-cost Apartments available for rent right now in the Penrose area of El Paso.


Total Monthly Price
San Jose Apartments

La Hacienda Apartments

Valley Place Apartments

San Marcos Apartment Homes

San Montego
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.

8615 San Juan Ln

Total Monthly Price
Paseo Park Apartments

The Meadows

Padres Village Apartments

8507 Alameda Ave

La Privada
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.

Canyon Square Village

Alameda Village Apartments

North Loop Village

Lomaland Townhomes

1061 Ranger Trail

Alvarez Apartments
The Art of the Rental Viewing: What to look for during a property tour
Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

Ranger Trail Apartments

Sunset Vista Seniors
Penrose, El Paso, TX Local Guide

Browse Apartments in this Neighborhood
There are currently 20 rentals with your search options within a 2 mile radius of the Penrose Neighborhood of El Paso, TX.
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Penrose, El Paso, TX Local Guide
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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. Padres Village Apartments has the second lowest priced unit, which is a 2 Beds apartment currently listed from $800. Here are the most affordable Penrose apartments for rent in El Paso, TX:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| San Marcos Apartment Homes | Azalea Suit | 1BR,1BA | $785 |
| Padres Village Apartments | 2 Bedroom 1 Bath | 2BR,1BA | $800 |
| La Privada | Al Adobe | 1BR,1BA | $800 |
| Tigua Village- Income Restricted | One Bedroom B | 1BR,1BA | $801 |
| La Hacienda Apartments | 1Bed/1Bath | 1BR,1BA | $850 |
Best Value Apartments for Rent in Penrose, TX
As of February 21, 2026 the best value apartment in the Penrose area is the $1.05 price per square foot 2 Bedroom Model at Paseo Park Apartments in the in the Ascarate neighborhood starting from $905. The second greatest value Penrose apartment is the 8487 Roseway Dr Model at 8487 Roseway Dr, Unit A starting at $1,100 with a $1.29 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 Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Paseo Park Apartments | 2 Bedroom | 2BR,1BA | $1.05 |
| 8487 Roseway Dr, Unit A | 8487 Roseway Dr | 3BR,2BA | $1.29 |
| Bella Vista Place Apartments | 2 Bed, 1 Bath | 2BR,1BA | $1.38 |
| 8495 Roseway Dr, Unit B | 8495 Roseway Dr | 2BR,1BA | $1.16 |
| Prado Apartments | 2 Bedroom | 2BR,1BA | $1.30 |
| The Meadows | One Bedroom Large | 1BR,1BA | $1.13 |
| Valley Place Apartments | 2 BEDROOM 1 BATH | 2BR,1BA | $1.16 |
| San Montego | 2 Bedroom | 2BR,1BA | $1.26 |
| Padres Village Apartments | 2 Bedroom 1 Bath | 2BR,1BA | $1.23 |
| La Hacienda Apartments | 1Bed/1Bath | 1BR,1BA | $1.31 |
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.
Read ArticleDon'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.
Read ArticleThe Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro
Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.
Read ArticleCash 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.
Read ArticleQuick 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.
Pet Friendly LifestylePenrose, El Paso, TX
Ranked #141
Among cities in Texas for Apartment listings with Pet Friendly Amenities.
Pet Friendliness Lifestyle Score
3.0Pet Friendly
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

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.

Maximizing Your Refund: Essential Tax Tips for Renters
Written by: Christine Leonard, Esq.
Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.

18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property
Written by: Lauren Harrington
Renting your next home can feel thrilling and overwhelming at the same time.

A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment
Written by: Bob Mallory
Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.