2 Bedroom Apartments for Rent in Penelope, TX (44 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 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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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.

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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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The Madison
2 Bedroom Apartments

The Madison

1307 Austin AveWaco, TX 76701
Showing Results 1-44, 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 Carriage House in the North End neighborhood and is 1,265 square feet priced from $1,395. RIVERCREST in the Carver neighborhood has the second largest 2 Bedroom, which is sized at 1,100 square feet and currently listed start at $1,459. Here is today’s list of the largest available 2 Bedroom units in Penelope:

Apartment ListingModel NameSquare FootagePriced From
Carriage House1265 sq ft 2 bed1,265 Sq Ft$1,395
RIVERCRESTB21,100 Sq Ft$1,459
Brazos Park ApartmentsE-2b2blv1,032 Sq Ft$1,049
Historic Lofts at Waco High2 Bedroom1,005 Sq Ft$893
Outpost at WacoB2989 Sq Ft$885
Woodhollow ApartmentsB2-D 2X2965 Sq Ft$1,350
Madison HighlandsBradley946 Sq Ft$1,129
Sandstone2 Bed, 2 Bath (80% Income Restricted)943 Sq Ft$1,239
The Green at WacoB3.1 Yard941 Sq Ft$915
Highland Cove2 BR B 866 Sq Ft$1,075

Cheapest Available Penelope and Nearby 2 Bedroom Apartments

As of June 16, 2025 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 Bedroom Model at Historic Lofts at Waco High starting at $893 . The average price for all 2 Bedroom apartments in Penelope is currently $1,457. Here is today’s list of the cheapest available 2 Bedroom options in Penelope:

Apartment ListingModel NamePriced From
University Club ApartmentsTwo Bedroom Small$749
Historic Lofts at Waco High2 Bedroom$893
The Meadows ApartmentsTwo Bedroom$910
URSA2BR/2BA - Flat - Pool View$920
Brazos Park ApartmentsD-2b2bs$949
MB Country Meadow Apartments2Bedroom$975
Prime Properties Waco2Bed-1Bath$1,025
Highland Cove2 BR B $1,075
Madison HighlandsBradley$1,129
Woodhollow ApartmentsB1-D 2X1$1,225

Quick Rent Budget Calculator

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Pet Friendly Lifestyle

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

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Getting Around Penelope, TX

Walk Score®

1 / 100

Car-Dependent

Almost all errands require a car

Bike Score®

23 / 100

Somewhat Bikeable

Minimal bike infrastructure

What Are Walk Score®, Transit Score®, and Bike Score® Ratings?

  • Walk Score® measures the walkability of any address.
  • Transit Score® measures access to public transit.
  • Bike Score® measures the bikeability of any address.

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 $1,457.

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

Today's apartment with the most square footage in Penelope is a 1,265 square feet unit starting from $1,395 at Carriage House.

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

The average size for a 2 Bedroom rental in Penelope is currently 959 sq ft.

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.

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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

Written by: Cheryl Bowman

A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.

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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.

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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.

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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.