2 Bedroom Apartments for Rent in Penelope, TX (53 Rentals)

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PECAN RIDGE-WACO
$1,478 - $1,896
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$1,160 - $1,896
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2 Bedroom Apartments Available Now

PECAN RIDGE-WACO

2736 Lake Shore DrWaco, TX 76708
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RIVERCREST
$1,269 - $1,697
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$1,101 - $1,697
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RIVERCREST

66 Daughtrey AveWaco, TX 76706
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The Zoe
$1,586 - $1,821
Total Monthly Price

Total Monthly Price

Base Rent
$1,360 - $1,821
Total Monthly Price
$1,360 - $1,821
2 Bedroom Apartments Available Now

The Zoe

3801 Myers LnLacy Lakeview, TX 76705
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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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Riverfront Lofts
Rent Specials
$2,250 - $4,027
Total Monthly Price

Total Monthly Price

Base Rent
$1,430 - $4,027
Total Monthly Price
$1,430 - $4,027
2 Bedroom Apartments Available Aug 17

Riverfront Lofts

414 S University Parks DrWaco, TX 76706
Outdoors
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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 Cove on 21st
Rent Specials
$999 - $1,273
Total Monthly Price

Total Monthly Price

Base Rent
$943 - $1,273
Total Monthly Price
$943 - $1,273
2 Bedroom Apartments Available Now

The Cove on 21st

2425 S 21st StWaco, TX 76706
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Tinsley Place
$1,209 - $2,417
Total Monthly Price

Total Monthly Price

Base Rent
$1,223 - $2,999
Total Monthly Price
$1,223 - $2,999
2 Bedroom Apartments Available Now

Tinsley Place

715 Cleveland AveWaco, TX 76706
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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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Renting Smart: Lease Basics Every Renter Needs

Demystify Your Rental Lease. Learn the basics about renting, deposits, and tenant/landlord responsibilities. Rent smart and avoid surprises. | Renter University at ApartmentHomeLiving.com

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South Terrace
2 Bedroom Apartments

South Terrace

2616 S 12th StWaco, TX 76706
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The Green at Waco
2 Bedroom Apartments

The Green at Waco

2501 S University Parks DrWaco, TX 76706
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LL Sams Apartments
2 Bedroom Apartments

LL Sams Apartments

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

19Eleven

1911 S 8th StWaco, TX 76706
Student Housing

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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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. PECAN RIDGE-WACO in the North End neighborhood has the second largest 2 Bedroom, which is sized at 1,175 square feet and currently listed start at $1,625. 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
PECAN RIDGE-WACOB31,175 Sq Ft$1,625
Highland Cove2 BR B-4 1,112 Sq Ft$1,100
RIVERCRESTB21,100 Sq Ft$1,477
Brazos Park ApartmentsE-2b2blv1,032 Sq Ft$1,139
LL Sams ApartmentsPremier Loft - 2 BDR, 1 BTH | ONE FEMALE SPACE1,025 Sq Ft$915
Historic Lofts of Waco High2 Bedroom1,005 Sq Ft$1,120
University Edge WacoPlan B976 Sq Ft$799
Barrons Branch IIB1975 Sq Ft$1,156
The Enclave at the StadiumB2952 Sq Ft$1,364

Cheapest Available Penelope and Nearby 2 Bedroom Apartments

As of June 15, 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 Standard Loft - 2 BDR, 1 BTH | VERY LIMITED Model at LL Sams Apartments starting at $829 in the South End neighborhood. The average price for all 2 Bedroom apartments in Penelope is currently $1,449. Here is today’s list of the cheapest available 2 Bedroom options in Penelope:

Apartment ListingModel NamePriced From
University Club ApartmentsTwo Bedroom Small$749
LL Sams ApartmentsStandard Loft - 2 BDR, 1 BTH | VERY LIMITED$829
Eagle Crest Apartments2 Bed/1 Bath$849
Villas of Hubbard2 Bed 1 Bath$875
Bear Crossing2 Bedroom 2 Bath$998
The Cove on 21stB1$1,018
Highland Cove2 BR B-3 $1,060
Costa Esmeralda2BR/2BA$1,078
Brazos Park ApartmentsD-2b2bs$1,089
Historic Lofts of Waco High2 Bedroom$1,120

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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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 $1,449.

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 1,342 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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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.

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Pet-Friendly Renting: Everything You Need to Know Before You Move

Written by: Christine Leonard, Esq.

For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.

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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.

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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.