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

Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.

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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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The Centre
3 Bedroom Apartments

The Centre

1818 S 7th StWaco, TX 76706
Student Housing
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Abbey Glenn Apartments
3 Bedroom Apartments

Abbey Glenn Apartments

700 S 4th StWaco, TX 76706
Student Housing
  • Utilities Included

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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19Eleven
3 Bedroom Apartments

19Eleven

1911 S 8th StWaco, TX 76706
Student Housing
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South Terrace
3 Bedroom Apartments

South Terrace

2616 S 12th StWaco, TX 76706
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Penelope, TX Local Guide

Largest Available Penelope and Nearby 3 Bedroom Apartments

The largest available 3 Bedroom apartment unit in Penelope, TX is found at LL Sams Apartments in the South End neighborhood and is 1,328 square feet priced from $799. Highland Cove in the North End neighborhood has the second largest 3 Bedroom, which is sized at 1,193 square feet and currently listed start at $1,375. Here is today’s list of the largest available 3 Bedroom units in Penelope:

Apartment ListingModel NameSquare FootagePriced From
LL Sams ApartmentsPremier Loft - 3 BDR, 2 BTH1,328 Sq Ft$799
Highland Cove3 BR C 1,193 Sq Ft$1,375
University Edge WacoPlan A1,174 Sq Ft$739
Park Place Waco ApartmentsC2 Premium1,108 Sq Ft$770
ElevateC11,096 Sq Ft$669
Madison HighlandsCamden1,096 Sq Ft$1,379
Abbey Glenn ApartmentsC11,086 Sq Ft$1,375
Prime Properties Waco3Bed-2Bath1,021 Sq Ft$1,150
The Enclave at the StadiumC1952 Sq Ft$1,112

Cheapest Available Penelope and Nearby 3 Bedroom Apartments

As of November 21, 2025 the lowest priced 3 Bedroom apartment unit in Penelope, TX is the C2 Model starting from $659 at Elevate in the Carver neighborhood. The second most affordable Penelope 3 Bedroom is the Standard Loft - 3 BDR, 2 BTH Model at LL Sams Apartments starting at $780 in the South End neighborhood. The average price for all 3 Bedroom apartments in Penelope is currently $1,071. Here is today’s list of the cheapest available 3 Bedroom options in Penelope:

Apartment ListingModel NamePriced From
ElevateC2$659
LL Sams ApartmentsStandard Loft - 3 BDR, 2 BTH$780
University Club ApartmentsThree Bedroom$849
Waco Apartments3 Bedroom 1 bath$1,000
The Enclave at the StadiumC1$1,112
Prime Properties Waco3Bed-2Bath$1,150
Abbey Glenn ApartmentsC1$1,375
Highland Cove3 BR C $1,375
Madison HighlandsCamden$1,379

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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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.

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Quick 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.

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Pet Friendly Lifestyle
Penelope, TX

Ranked #1145

Among cities in Texas for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

2.5
Pet Friendly

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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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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 3 Bedroom Penelope Apartments

What is the Cheapest apartment in Penelope with 3 Bedroom?

Currently the most affordable 3 Bedroom in Penelope is at Elevate listed at $659.

How much is the average rent for a 3 Bedroom Penelope Apartment?

The average rent for a 3 Bedroom Apartment in Penelope is $1,071.

What is the largest available 3 Bedroom Penelope Apartment for rent?

Today's apartment with the most square footage in Penelope is a 1,328 square feet unit starting from $799 at LL Sams Apartments.

What is the average size for Penelope 3 Bedroom Apartments for rent?

The average size for a 3 Bedroom rental in Penelope is currently 1,052 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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Apartment Common Area Rules: What Renters Need to Know

Written by: Christine Leonard, Esq.

Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.

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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate! 

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The Rental Move-In Inspection Checklist: A Guide for Renters

Written by: Trey Huguley

The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.

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Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Written by: Christine Leonard, Esq.

For many people, obstacles can arise during the rental application process for a variety of issues.