6894 CO-12
WestonCO81091
Cheap Homes for Rent in Penasco, NM from $1,200 (6 Rentals)
Search the lowest-cost Homes available for rent right now in Penasco.
1410 Zuni St
Santa FeNM87505
1000 NM-76
Santa CruzNM87567
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.
1105 Old Taos Hwy
Santa FeNM87501
30 La Puebla Rd
EspanolaNM87532
44 Sage Ln
Angel FireNM87710
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.
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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 | $3,327 | $1,500 | $6,000 |
| Penasco 3 Bedroom Homes for Rent | $3,500 | $1,250 | $4,550 |
| Penasco 4 Bedroom Homes for Rent | $3,175 | $2,950 | $3,400 |
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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 Studio unit found at Santa Fe Suites in the Arroyo Chamiso neighborhood priced from $950. Casa de Encantada Senior Apartments in the Encantado del Norte Heritage Series neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $993. Here is today’s list of the most affordable Penasco apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Santa Fe Suites | Studio | Studio,1BA | $950 |
| Casa de Encantada Senior Apartments | One Bedroom | 1BR,1BA | $993 |
| Vista Alegre Apartments | Studio, 1 Bath | Studio,1BA | $1,042 |
Best Value Apartments for Rent in Penasco, NM and Nearby
As of June 08, 2025 the best value apartment in the Penasco area is the $1.78 price per square foot The Sagebrush Model at The Mica in the in the Arroyo Chamiso neighborhood starting from $1,820. The second greatest value Penasco apartment is the 2 Bedroom 2 Bath Townhome Model at Bluffs at Tierra Contenta starting at $1,870 with a $1.83 price per square foot in the Tiempo Lindo neighborhood. 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 Mica | The Sagebrush | 2BR,2BA | $1.78 |
| Bluffs at Tierra Contenta | 2 Bedroom 2 Bath Townhome | 2BR,2BA | $1.83 |
| Enchanted Hills | Enchanted | 2BR,2BA | $1.66 |
| Canyon Walk Income Restricted | One Bedroom | 1BR,1BA | $1.27 |
| Casa Loma Apartments | 1x1 | 1BR,1BA | $2.12 |
| Local 1896 | 1x1ArT1 - 1X1 Renovated | 1BR,1BA | $2.08 |
| Talavera Apartment Homes | Pinon | 2BR,1BA | $2.21 |
| Vizcaya | Chama | 1BR,1BA | $2.27 |
| Casa de Encantada Senior Apartments | One Bedroom | 1BR,1BA | $1.71 |
| Vista Alegre Apartments | 1 Bed, 1 Bath | 1BR,1BA | $2.20 |
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Frequently Asked Questions about Penasco
What type of rentals are currently available in Penasco?
There are currently 36 Apartments for Rent in Penasco, NM with pricing that ranges from $950 to $4,560. There are also 40 Single Family Homes for rent, Condos, and Townhome rentals currently available in Penasco ranging from $1,250 to $6,000.
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 $6,000 with an average monthly rent of $3,067.
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 $1,574 to $4,560, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,250 to $4,550. Four Bedroom Single-Family rentals are also available starting from $2,950 and Four Bedroom Apartments start at $2,300.
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.
The Art of the Rental Viewing: What to look for during a property tour
Written by: Marie Brown
You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.
Know Your Budget: Calculating What You Can Realistically Afford When Renting
Written by: Lauren Harrington
Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.
The Freedom of Short-Term Leases: Exploring the Advantages for Renters
Written by: Bobbi Jackson
If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.
Navigating the Rental Market: Tips for First-Time Renters
Written by: Sandy Baker
Making the decision to rent is exciting and terrifying at the same time. For many people, there are a lot of unknowns.