6894 CO-12
WestonCO81091
Cheap Homes for Rent in Penasco, NM from $1,200 (9 Rentals)
Search the lowest-cost Homes available for rent right now in Penasco.
2800 Cerrillos Rd
Santa FeNM87507
49 A Spanish Peaks Rd
Arroyo HondoNM87513
739 Montez Pl
Santa FeNM87501
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.
941 Calle Mejia
Santa FeNM87501
1012 Marquez Pl
Santa FeNM87505
218 McKenzie Street C
218 McKenzie Street Unit C
PojoaqueNM87501
601 W San Mateo Rd
Santa FeNM87505
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.
115 W Santa Fe Ave
Santa FeNM87505
Showing Results 1-9, Page 1 of 1
Penasco, NM Local Guide
Sandia National Laboratories solar farm by National Nuclear Security Administration is licensed under Public Domain
How much does it cost to rent a home in Penasco?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Penasco 2 Bedroom Homes for Rent | $2,367 | $1,395 | $3,500 |
| Penasco 3 Bedroom Homes for Rent | $4,271 | $1,250 | $8,500 |
| Penasco 4 Bedroom Homes for Rent | $5,150 | $3,450 | $7,000 |
| Penasco 5 Bedroom Homes for Rent | $7,375 | $2,250 | $10,000+ |
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
Browse Top Homes for Rent in Penasco
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Penasco, NM Local Guide
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Cheapest Available Penasco Apartments for Rent and Nearby
The cheapest available apartment rental in Penasco, NM is a 1 Bed unit found at Tierra Montosa priced from $353. Taos Haus +6 has the second lowest priced unit, which is a 2 Beds apartment currently listed from $592. Here is today’s list of the most affordable Penasco apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Tierra Montosa | 1 Bedroom | 1BR,1BA | $353 |
| Taos Haus +6 | 2 Bedrooms | 2BR,1BA | $592 |
| Ochenta Apartments | 2 Bedrooms | 2BR,1BA | $739 |
Best Value Apartments for Rent in Penasco, NM and Nearby
As of June 04, 2026 the best value apartment in the Penasco area is the $1.82 price per square foot 4 Bedroom 2 Bathroom Model at The Bluffs at Tierra Contenta in the in the Tiempo Lindo neighborhood starting from $2,399. The second greatest value Penasco apartment is the 2 BR Model at El Cerrito starting at $749 with a $0.77 price per square foot . Here is today’s list of the best values for Penasco apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| The Bluffs at Tierra Contenta | 4 Bedroom 2 Bathroom | 4BR,2BA | $1.82 |
| El Cerrito | 2 BR | 2BR,1BA | $0.77 |
| Local 1896 | 2x1AR1T2 - 2X1 Renovated | 2BR,1BA | $1.59 |
| Ochenta Apartments | 2 Bedrooms | 2BR,1BA | $0.97 |
| Vista Linda | 2 Bedroom | 1 Bath | 2BR,1BA | $1.74 |
| Enchanted Hills | Diego | 2BR,1BA | $1.74 |
| Taos Haus +6 | 2 Bedrooms | 2BR,1BA | $0.70 |
| Allegro at Tanoan | 1 Bedroom 1 Bath | 1BR,1BA | $1.67 |
| Tierra Montosa | 1 Bedroom | 1BR,1BA | $0.49 |
| Evergreen Apartments | 1x1-B | 1BR,1BA | $1.70 |
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.
Read Article
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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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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See the most popular apartments and homes in Penasco, NM
Frequently Asked Questions about Penasco
What type of rentals are currently available in Penasco?
There are currently 47 Apartments for Rent in Penasco, NM with pricing that ranges from $491 to $4,624. There are also 40 Single Family Homes for rent, Condos, and Townhome rentals currently available in Penasco ranging from $1,250 to $12,500.
What is the current price range for Rental Homes in Penasco?
Today's rental pricing for Homes for Rent, Condos and Townhomes in Penasco ranges from $1,250 to $12,500 with an average monthly rent of $3,872.
How much are larger Three and Four Bedroom Rentals in Penasco?
For those who are looking for larger living arrangements, Three Bedroom Apartments in Penasco range from $1,084 to $4,624, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,250 to $8,500. Four Bedroom Single-Family rentals are also available starting from $3,450 and Four Bedroom Apartments start at $2,399.
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
Creative Ways Developers Reimagine Retail Spaces as Residential Units
Written by: Robin Stewart
Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.
Neighborhood and Market Insights: How to Choose the Right Area to Rent
Written by: Robin Stewart
Apartment-hunting can be a gargantuan task. Renters have a wish list of items—some luxuries, some necessities—but finding what you seek in the right place is perhaps the most important part of the journey.
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.
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.