3 Bedroom Apartments for Rent in Penelope, TX (42 Rentals)

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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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Tinsley Place
$1,525 - $2,999
Total Monthly Price

Total Monthly Price

Base Rent
$1,223 - $2,999
Total Monthly Price
$1,223 - $2,999
3 Bedroom Apartments Available Jun 25

Tinsley Place

715 Cleveland AveWaco, TX 76706
Corporate Housing
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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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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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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
3 Bedroom Apartments

LL Sams Apartments

2000 S 1st StWaco, TX 76706
Student Housing
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The Centre
3 Bedroom Apartments

The Centre

1818 S 7th StWaco, TX 76706
Student Housing
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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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Aspen Heights
3 Bedroom Apartments

Aspen Heights

3344 S 3rd StWaco, TX 76706
Student Housing
  • Utilities Included

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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Showing Results 1-42, Page 1 of 1

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 Highland Cove in the North End neighborhood and is 1,355 square feet priced from $1,480. LL Sams Apartments in the South End neighborhood has the second largest 3 Bedroom, which is sized at 1,328 square feet and currently listed start at $799. Here is today’s list of the largest available 3 Bedroom units in Penelope:

Apartment ListingModel NameSquare FootagePriced From
Highland Cove3 BR C-1 1,355 Sq Ft$1,480
LL Sams ApartmentsPremier Loft - 3 BDR, 2 BTH | ONE UNIT LEFT1,328 Sq Ft$799
Historic Lofts of Waco High3 Bedroom1,225 Sq Ft$1,285
University Edge WacoPlan A1,174 Sq Ft$739
ElevateC11,096 Sq Ft$669
Abbey Glenn ApartmentsC11,086 Sq Ft$1,375
Costa Esmeralda3BR/2BA1,078 Sq Ft$1,245
University Club ApartmentsThree Bedroom833 Sq Ft$849

Cheapest Available Penelope and Nearby 3 Bedroom Apartments

As of June 15, 2026 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 | ONE MALE SPACE LEFT 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 $1,344. 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 | ONE MALE SPACE LEFT$780
University Club ApartmentsThree Bedroom$849
Costa Esmeralda3BR/2BA$1,245
Historic Lofts of Waco High3 Bedroom$1,285
Highland Cove3 BR C $1,360
Abbey Glenn ApartmentsC1$1,375

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 3 Bedroom Penelope Apartments

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

The average rent for a 3 Bedroom Apartment in Penelope is $1,344.

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

Today's apartment with the most square footage in Penelope is a 1,355 square feet unit starting from $1,480 at Highland Cove.

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

The average size for a 3 Bedroom rental in Penelope is currently 1,270 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.