Cheap Apartments for Rent in Penasco, NM from $800 (13 Rentals)

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The Orchards
1 to 2 Bedroom Apartments

The Orchards

247 U.S. 550Bernalillo, NM 87004
  • Utilities Included
Showing Results 1-13, Page 1 of 1

Penasco, NM Local Guide

Cheapest Available Penasco Apartments for Rent and Nearby

 

The cheapest available apartment rental in Penasco, NM is a 1 Bed unit found at Casa de Encantada Senior Apartments in the Encantado del Norte Heritage Series neighborhood priced from $993. Canyon Walk Income Restricted has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,020. Here is today’s list of the most affordable Penasco apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Casa de Encantada Senior ApartmentsOne Bedroom1BR,1BA$993
Canyon Walk Income RestrictedOne Bedroom x One Bath1BR,1BA$1,020
Sierra Blanca Senior LivingStudioStudio,1BA$1,100
Evergreen Apartments1x1-B1BR,1BA$1,149
Vista Alegre ApartmentsStudio, 1 BathStudio,1BA$1,199

Best Value Apartments for Rent in Penasco, NM and Nearby

As of September 17, 2025 the best value apartment in the Penasco area is the $1.72 price per square foot 2 X 2.5 (2-Car Gar) Model at Terra at Enchanted Hills in the in the Encantado del Norte Heritage Series neighborhood starting from $2,095. The second greatest value Penasco apartment is the The Sagebrush Model at The Mica starting at $1,740 with a $1.70 price per square foot in the Don Digeo neighborhood. Here is today’s list of the best values for Penasco apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Terra at Enchanted Hills2 X 2.5 (2-Car Gar)2BR,2.5BA$1.72
The MicaThe Sagebrush2BR,2BA$1.70
The Bluffs at Tierra Contenta2 Bedroom 2 Bathroom2BR,2BA$1.86
Enchanted HillsEnchanted2BR,2BA$1.68
Canyon Walk Income RestrictedOne Bedroom x One Bath1BR,1BA$1.14
Vista Linda2 Bedroom | 1 Bath2BR,1BA$1.94
Allegro at Tanoan1 Bedroom 1 Bath1BR,1BA$1.91
Local 18961x1ArT1 - 1X1 Renovated1BR,1BA$2.00
Evergreen Apartments1x1-B1BR,1BA$1.70
Casa de Encantada Senior ApartmentsOne Bedroom1BR,1BA$1.71

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Getting Around Penasco, NM

Walk Score®

17 / 100

Car-Dependent

Almost all errands require a car

Bike Score®

23 / 100

Somewhat Bikeable

Minimal bike infrastructure

What Are Walk Score®, Transit Score®, and Bike Score® Ratings?

  • Walk Score® measures the walkability of any address.
  • Transit Score® measures access to public transit.
  • Bike Score® measures the bikeability of any address.

Frequently Asked Questions about Cheap Penasco Apartments

What is the Cheapest Studio apartment in Penasco?

Currently the most affordable Cheap Studio Apartment in Penasco is at Sierra Blanca Senior Living listed at $1,100.

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

The lowest price for a Cheap One Bedroom Penasco Apartment is $993 at Casa de Encantada Senior Apartments.

What is the lowest price for a Cheap Two Bedroom Penasco Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Penasco is starting from $1,220 at Canyon Walk Income Restricted.

What is the most affordable Penasco Three Bedroom Apartment?

The best deal on a cheap Penasco Three Bedroom Apartment rental is at Canyon Walk Income Restricted and starts from $1,404.

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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The Rental Move-In Inspection Checklist: A Guide for Renters

Written by: Trey Huguley

The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.

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

Written by: Christine Leonard, Esq.

For many people, obstacles can arise during the rental application process for a variety of issues.

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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Written by: Christine Leonard, Esq.

Hard truth. Moving is never easy. I’ve done it all – from local moves to cross-country relocations From packing to unpacking the last box, I have found moving to be an exhausting, expensive and stressful experience every time.

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

Written by: Christine Leonard, Esq.

Throughout the day, think about all the times that you have to pay for something. So many of us reach automatically for a credit card or even our phone for a quick payment.