
Apartments for Rent near Penelope, TX (89 Rentals)


Abbey Glenn Apartments

Riviera Apartments

Total Monthly Price
PECAN RIDGE-WACO

Total Monthly Price
RIVERCREST

Sandstone

300 Clay Ave

101 Elm

222 Clay Court

Highland Cove
Renters Insurance 101: What It Is, What It Covers, and Why You Need It
From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

Costa Esmeralda

The Zoe

Total Monthly Price
Riverfront Lofts

Allen Place

Franklin Place

Total Monthly Price
LUXE AT 1300

University Edge Waco

Total Monthly Price
Bordeaux XI Apartments

Bear Crossing

West Campus Lofts
How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide
Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.

Waco Apartments

Total Monthly Price
The Meadows Apartments

Eleven06 on 35 Apartments

The Enclave at the Stadium

Woodhollow Apartments

Total Monthly Price
The Cove on 21st

Brazos Park Apartments

University Club Apartments

Eagle Crest Apartments

Villas of Hubbard
Neighborhood & Market Insights: How to Choose the Right Area to Rent
Master your search for the perfect apartment. Location is everything. Discover how to leverage community insights, public data, and personal visits to make a fully informed decision about where to rent.

Madison Highlands

Elevate

Carriage House

Total Monthly Price
Tinsley Place

Historic Lofts of Waco High

River Park Apartment Homes

106-106 Vitava Dr

1413 Alford Dr

316 Mark St

5588 Old Dallas Rd
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.

18270 NW C R 4160

4307 Bellcrest St

318 N Waco St

1105 E Navarro St

441 HCR 2105 Loop N

433 HCR 2105 Loop N

225 HCR 2127

1511 Bowie St

1114 Chestnut St

504 Wilson Rd
Smart Renter's Guide: Calculating Affordable Rent & Housing Costs
Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.
Penelope, TX Local Guide

How much does it cost to rent an apartment in Penelope?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Penelope Studio Apartments | $1,345 | $649 | $1,747 |
| Penelope 1 Bedroom Apartments | $1,184 | $372 | $3,510 |
| Penelope 2 Bedroom Apartments | $1,416 | $492 | $4,027 |
| Penelope 3 Bedroom Apartments | $1,281 | $568 | $3,951 |
| Penelope 4 Bedroom Apartments | $809 | $509 | $1,700 |
How much does it cost to rent a home in Penelope?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| 2 Bedroom Homes | $1,399 | $1,300 | $1,500 |
| 3 Bedroom Homes | $1,691 | $1,150 | $2,400 |
| 4 Bedroom Homes | $2,250 | $2,250 | $2,250 |
| 5 Bedroom Homes | $650 | $650 | $650 |
Browse Top Apartments in Penelope
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Penelope, TX Local Guide
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A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back
Learn the property manager's true secrets to a zero-deduction move-out. Use this step-by-step guide on documentation, cleaning, and lease-reading to reclaim your security deposit.
Read Article18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property
Tour smarter and choose with confidence. Get the essential 18 questions that reveal the truth about a rental property's maintenance, utilities, and safety.
Read ArticleReal 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.
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.
Remember the 3 Rules of Real Estate:Location, Location, Location!
Explore Penelope, TX Rentals by Map
See the most popular apartments and homes in Penelope, TX
Frequently Asked Questions about Penelope
What is the current pricing and availability for apartments for rent in Penelope, TX?
As of today, July 30, 2026, there are currently 89 available Penelope apartments priced from $372 to $4,027, with an average monthly rent of $1,269.
What is the current price range for One Bedroom Penelope Apartments for rent?
Today's rental pricing for One Bedroom Apartments in Penelope ranges from $372 to $3,510 with an average monthly rent of $1,184.
What does renting a Two Bedroom Apartment in Penelope cost?
The monthly rent prices of Two Bedroom Apartments currently available in Penelope range from $492 to $4,027. Today's average rental price for Two Bedrooms here is $1,416.
How expensive are Penelope Three Bedroom Apartments?
There are currently 24 Three Bedroom Apartments listings available in Penelope on ApartmentHomeLiving.com. The pricing ranges from $568 to $3,951 - averaging $1,281 for the location.
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

First Apartment Regrets: Real Renters Share What They'd Do Differently
Written by: Robin Stewart
Hindsight is 20/20. Live and Learn. With age comes wisdom. We’re familiar with all those expressions, and all of them apply to lessons first-time renters learn.

Renters Insurance 101: What It Is, What It Covers, and Why You Need It
Written by: Robin Stewart
Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.

Apartment Occupancy Rates: Renter Attraction vs Renter Retention
Written by: Robin Stewart
There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.

How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide
Written by: Robin Stewart
Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.