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

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PECAN RIDGE-WACO
$1,415 - $1,823

Total Monthly Price

Base Rent$1,254 - $1,823
Total Monthly PriceVaries
2 Bedroom Apartments Available Now

PECAN RIDGE-WACO

2736 Lake Shore DrWaco, TX 76708
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RIVERCREST
$1,287 - $1,726

Total Monthly Price

Base Rent$1,101 - $1,726
Total Monthly PriceVaries
2 Bedroom Apartments Available Soon

RIVERCREST

66 Daughtrey AveWaco, TX 76706
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The Zoe
Rent Specials
$1,461 - $1,696

Total Monthly Price

Base Rent$1,385 - $1,696
Total Monthly Price$1,385 - $1,696
2 Bedroom Apartments Available Sep 24

The Zoe

3801 Myers LnLacy Lakeview, TX 76705
Luxury
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Exploring Rental Options: Apartments, Townhomes, and Lofts—Oh My!

Looking for the perfect rental? From apartments and condos to lofts and single family rentals, explore the unique pros and cons of each rental type to help you land in your perfect new place.

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Riverfront Lofts
$2,340 - $4,145

Total Monthly Price

Base Rent$1,430 - $4,145
Total Monthly Price$1,430 - $4,145
2 Bedroom Apartments Available Sep 18

Riverfront Lofts

414 S University Parks DrWaco, TX 76706
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LUXE AT 1300
$1,713 - $1,773

Total Monthly Price

Base Rent$1,391 - $2,598
Total Monthly PriceVaries
2 Bedroom Apartments Available Now

LUXE AT 1300

1300 Placid CirWaco, TX 76706
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The Cove on 21st
$999 - $1,274

Total Monthly Price

Base Rent$943 - $1,293
Total Monthly Price$943 - $1,293
2 Bedroom Apartments Available Now

The Cove on 21st

2425 S 21st StWaco, TX 76706
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Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags

Looking for the perfect new rental? Learn great ways to spot the perfect apartment for you, identify common red flags, and avoid rental issues and scams with these expert provided actionable tips.

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Tinsley Place
$1,269 - $2,656

Total Monthly Price

Base Rent$1,164 - $3,876
Total Monthly Price$1,164 - $3,876
2 Bedroom Apartments Available Now

Tinsley Place

715 Cleveland AveWaco, TX 76706
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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.

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property at 808 Mill St
$1,095
2 Bedroom Rentals
Available Now

808 Mill St

ItascaTX76055
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South Terrace
2 Bedroom Apartments

South Terrace

2616 S 12th StWaco, TX 76706

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.

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LL Sams Apartments
2 Bedroom Apartments

LL Sams Apartments

2000 S 1st StWaco, TX 76706
Student Housing
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19Eleven
2 Bedroom Apartments

19Eleven

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

The Centre

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

The Madison

1307 Austin AveWaco, TX 76701
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Aspen Heights
2 Bedroom Apartments

Aspen Heights

3344 S 3rd StWaco, TX 76706
Student Housing
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Renting with Roommates: Realistic Expectations for Shared Lease

Sharing a lease? Learn how to set clear expectations with your roommates on routines, bills, and cleaning to ensure a successful and peaceful shared living arrangement.

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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. LUXE AT 1300 in the Oakwood neighborhood has the second largest 2 Bedroom, which is sized at 1,191 square feet and currently listed start at $1,819. 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
LUXE AT 1300Oxford1,191 Sq Ft$1,819
PECAN RIDGE-WACOB31,175 Sq Ft$1,648
Highland Cove2 BR B-4 1,112 Sq Ft$1,480
Riviera ApartmentsB31,062 Sq Ft$1,377
River Park2 Bedroom 2 Bath1,045 Sq Ft$1,168
Brazos Park ApartmentsE-2b2blv1,032 Sq Ft$1,139
Historic Lofts of Waco High2 Bedroom1,005 Sq Ft$1,139
The LandingA1 Market995 Sq Ft$1,168
LL Sams ApartmentsStandard Loft - 2 BDR, 2 BTH | ONE UNIT LEFT895 Sq Ft$925

Cheapest Available Penelope and Nearby 2 Bedroom Apartments

As of September 13, 2026 the lowest priced 2 Bedroom apartment unit in Penelope, TX is the Two Bedroom Small Model starting from $699 at University Club Apartments in the Carver neighborhood. The second most affordable Penelope 2 Bedroom is the 21-60 Model at Villas of Hubbard starting at $894 . The average price for all 2 Bedroom apartments in Penelope is currently $1,436. Here is today’s list of the cheapest available 2 Bedroom options in Penelope:

Apartment ListingModel NamePriced From
University Club ApartmentsTwo Bedroom Small$699
Villas of Hubbard21-60$894
LL Sams ApartmentsStandard Loft - 2 BDR, 1 BTH | VERY LIMITED$915
The Enclave at the StadiumB1$948
Prime Properties Waco2Bed-1Bath$975
Bordeaux XI Apartments2 Bed/1 Bath$995
The Cove on 21stB1$1,018
Barrons Branch IIB1$1,038
Sandstone2 Bed, 1 Bath A (80% Income Restricted)$1,061
Brazos Park ApartmentsD-2b2bs$1,089

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

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Frequently Asked Questions about 2 Bedroom Penelope Apartments

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

The average rent for a 2 Bedroom Apartment in Penelope is $1,436.

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 898 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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Exploring Rental Options: Apartments, Townhomes, and Lofts - Oh My!

Written by: Robin Stewart

Where do you see yourself? When you think of home, sweet home, are you in a 3/2 apartment? Dreaming of a tall townhome? Maybe an industrial loft heavy on cool vibes is on your visioning board.

decorative image for Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags article

Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags

Written by: Robin Stewart

Renters want to find a great apartment, the right place for them, one that checks all the boxes of location, rental cost, amenities, safety, and more.

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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.

decorative image for Renters Insurance 101: What It Is, What It Covers, and Why You Need It article

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.