2 Bedroom Apartments for Rent in Penelope, TX (50 Rentals)

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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.

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The Zoe
$1,586 - $1,821
Total Monthly Price

Total Monthly Price

Base Rent
$1,510 - $1,821
Total Monthly Price
$1,510 - $1,821
2 Bedroom Apartments Available Now

The Zoe

3801 Myers LnLacy Lakeview, TX 76705
Luxury
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Riverfront Lofts
$2,290 - $4,027
Total Monthly Price

Total Monthly Price

Base Rent
$1,465 - $4,027
Total Monthly Price
$1,465 - $4,027
2 Bedroom Apartments Available May 29

Riverfront Lofts

414 S University Parks DrWaco, TX 76706
Outdoors
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LUXE AT 1300
$1,565
Total Monthly Price

Total Monthly Price

Base Rent
$1,287 - $2,312
Total Monthly Price
Varies
2 Bedroom Apartments Available Jul 22

LUXE AT 1300

1300 Placid CirWaco, TX 76706
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The Green at Waco
Rent Specials
$850 - $940
Total Monthly Price

Total Monthly Price

Base Rent
$655 - $1,635
Total Monthly Price
$655 - $1,635
2 Bedroom Apartments Available Now

The Green at Waco

2501 S University Parks DrWaco, TX 76706
Student Housing
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The Cove on 21st
$999 - $1,279
Total Monthly Price

Total Monthly Price

Base Rent
$943 - $1,298
Total Monthly Price
$943 - $1,298
2 Bedroom Apartments Available Now

The Cove on 21st

2425 S 21st StWaco, TX 76706
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Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

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Tinsley Place
Rent Specials
$1,273 - $2,255
Total Monthly Price

Total Monthly Price

Base Rent
$1,098 - $3,136
Total Monthly Price
$1,098 - $3,136
2 Bedroom Apartments Available Now

Tinsley Place

715 Cleveland AveWaco, TX 76706
Corporate Housing
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Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

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South Terrace
2 Bedroom Apartments

South Terrace

2616 S 12th StWaco, TX 76706
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19Eleven
2 Bedroom Apartments

19Eleven

1911 S 8th StWaco, TX 76706
Student Housing
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The Centre
2 Bedroom Apartments

The Centre

1818 S 7th StWaco, TX 76706
Student Housing
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The Madison
2 Bedroom Apartments

The Madison

1307 Austin AveWaco, TX 76701
Corporate Housing
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Aspen Heights
2 Bedroom Apartments

Aspen Heights

3344 S 3rd StWaco, TX 76706
Student Housing
  • Utilities Included
Showing Results 1-50, Page 1 of 1

Penelope, TX Local Guide

Largest Available Penelope and Nearby 2 Bedroom Apartments

The largest available 2 Bedroom apartment unit in Penelope, TX is found at 101 Elm in the Carver neighborhood and is 1,200 square feet priced from $1,850. Tinsley Place has the second largest 2 Bedroom, which is sized at 1,140 square feet and currently listed start at $1,783. Here is today’s list of the largest available 2 Bedroom units in Penelope:

Apartment ListingModel NameSquare FootagePriced From
101 Elm2 Bedroom 2 Bath1,200 Sq Ft$1,850
Tinsley PlaceColumbus Heights TH1,140 Sq Ft$1,783
RIVERCRESTB21,100 Sq Ft$1,459
Brazos Park ApartmentsE-2b2blv1,032 Sq Ft$1,139
Riviera ApartmentsB21,025 Sq Ft$1,354
Historic Lofts of Waco High2 Bedroom1,005 Sq Ft$1,120
University Edge WacoPlan B976 Sq Ft$799
PECAN RIDGE-WACOB1975 Sq Ft$1,080
LL Sams ApartmentsStandard Loft - 2 BDR, 2 BTH895 Sq Ft$925
Highland Cove2 BR B 866 Sq Ft$1,000

Cheapest Available Penelope and Nearby 2 Bedroom Apartments

As of April 30, 2026 the lowest priced 2 Bedroom apartment unit in Penelope, TX is the Two Bedroom Small Model starting from $749 at University Club Apartments in the Carver neighborhood. The second most affordable Penelope 2 Bedroom is the 2 Bed/1 Bath Model at Eagle Crest Apartments starting at $799 . The average price for all 2 Bedroom apartments in Penelope is currently $1,393. Here is today’s list of the cheapest available 2 Bedroom options in Penelope:

Apartment ListingModel NamePriced From
University Club ApartmentsTwo Bedroom Small$749
Eagle Crest Apartments2 Bed/1 Bath$799
LL Sams ApartmentsStandard Loft - 2 BDR, 1 BTH | VERY LIMITED$829
Villas of Hubbard2 Bed 1 Bath$875
Barrons Branch IIB1$934
Bear Crossing2 Bedroom 2 Bath$998
Highland Cove2 BR B $1,000
The Cove on 21stB1$1,018
Costa Esmeralda2BR/2BA$1,078
PECAN RIDGE-WACOB1$1,080

10 Hidden Costs of Renting You Should Budget for Before Signing a Lease

Avoid financial stress when renting. Learn about the 10 most common hidden costs—from pet fees to utilities—you must budget for before you sign a lease.

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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.

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

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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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Remember the 3 Rules of Real Estate:
Location, Location, Location!

Explore Penelope, TX Rentals by Map

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See the most popular apartments and homes in Penelope, TX

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Frequently Asked Questions about 2 Bedroom Penelope Apartments

What is the Cheapest apartment in Penelope with 2 Bedroom?

Currently the most affordable 2 Bedroom in Penelope is at University Club Apartments listed at $749.

How much is the average rent for a 2 Bedroom Penelope Apartment?

The average rent for a 2 Bedroom Apartment in Penelope is $1,393.

What is the largest available 2 Bedroom Penelope Apartment for rent?

Today's apartment with the most square footage in Penelope is a 1,200 square feet unit starting from $1,850 at 101 Elm.

What is the average size for Penelope 2 Bedroom Apartments for rent?

The average size for a 2 Bedroom rental in Penelope is currently 876 sq ft.

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

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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.

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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.

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What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Written by: Lauren Harrington

This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.

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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.