311 N Smyth St
MartTX76664
Cheap Homes for Rent in Penelope, TX from $500 (6 Rentals)
Search the lowest-cost Homes available for rent right now in Penelope.
1048 Eagle Canyon Dr
China SpringTX76633
208 N Lumpkin St
MartTX76664
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.
1114 Chestnut St
WacoTX76704
3547 FM 55
Blooming GroveTX76626
1206 Chestnut St
WacoTX76704
Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between
Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.
Showing Results 1-6, Page 1 of 1
Penelope, TX Local Guide
The one and only Texas Flag by Kimberly Vardeman is licensed under CC BY 2.0
How much does it cost to rent a home in Penelope?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Penelope 2 Bedroom Homes for Rent | $1,367 | $520 | $2,550 |
| Penelope 3 Bedroom Homes for Rent | $1,597 | $1,050 | $2,500 |
| Penelope 4 Bedroom Homes for Rent | $1,997 | $1,395 | $2,500 |
| Penelope 5 Bedroom Homes for Rent | $1,372 | $650 | $2,095 |
Browse Top Homes for Rent in Penelope
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Penelope, TX Local Guide
- Nearby Cities
- ZIP codes
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Cheapest Available Penelope Apartments for Rent and Nearby
The cheapest available apartment rental in Penelope, TX is a 1 Bed unit found at Villas of Hubbard priced from $392. South Terrace in the South End neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $658. Here is today’s list of the most affordable Penelope apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Villas of Hubbard | 1 Bed 1 Bath | 1BR,1BA | $392 |
| South Terrace | 1x1 | 1BR,1BA | $658 |
| Eagle Crest Apartments | Efficiency/Studio | Studio,1BA | $659 |
Best Value Apartments for Rent in Penelope, TX and Nearby
As of September 20, 2025 the best value apartment in the Penelope area is the $1.21 price per square foot 3 Bedrooms 2 Baths Model at 19Eleven in the in the South End neighborhood starting from $1,679. The second greatest value Penelope apartment is the Plan C Model at University Edge Waco starting at $775 with a $0.80 price per square foot in the South End neighborhood. Here is today’s list of the best values for Penelope apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| 19Eleven | 3 Bedrooms 2 Baths | 3BR,2BA | $1.21 |
| University Edge Waco | Plan C | 2BR,2BA | $0.80 |
| Villas of Hubbard | 2 Bed 1 Bath | 2BR,1BA | $1.19 |
| The Enclave at the Stadium | B1 | 2BR,2BA | $1.15 |
| Historic Lofts at Waco High | 1 Bedroom | 1BR,1BA | $0.94 |
| Prime Properties Waco | 1Bed-1Bath | 1BR,1BA | $1.24 |
| The Meadows Apartments | One Bedroom | 1BR,1BA | $1.24 |
| South Terrace | 1x1 | 1BR,1BA | $1.07 |
| Brazos Park Apartments | B-1b1bm | 1BR,1BA | $1.25 |
| University Club Apartments | One Bedroom | 1BR,1BA | $1.19 |
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Pet Friendly LifestylePenelope, TX
Ranked #799
Among cities in Texas for Apartment listings with Pet Friendly Amenities.
Pet Friendliness Lifestyle Score
2.5Pet Friendly
Remember the 3 Rules of Real Estate:Location, Location, Location!
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See the most popular apartments and homes in Penelope, TX
Frequently Asked Questions about Penelope
What type of rentals are currently available in Penelope?
There are currently 45 Apartments for Rent in Penelope, TX with pricing that ranges from $392 to $4,424. There are also 39 Single Family Homes for rent, Condos, and Townhome rentals currently available in Penelope ranging from $520 to $2,550.
What is the current price range for Rental Homes in Penelope?
Today's rental pricing for Homes for Rent, Condos and Townhomes in Penelope ranges from $520 to $2,550 with an average monthly rent of $1,451.
How much are larger Three and Four Bedroom Rentals in Penelope?
For those who are looking for larger living arrangements, Three Bedroom Apartments in Penelope range from $700 to $4,424, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,050 to $2,500. Four Bedroom Single-Family rentals are also available starting from $1,395 and Four Bedroom Apartments start at $675.
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.
How to Negotiate Your Apartment Lease and Save Money
Written by: Christine Leonard, Esq.
Everything is a negotiation in real estate!
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.
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.
The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro
Written by: Christine Leonard, Esq.
Hard truth. Moving is never easy. I’ve done it all – from local moves to cross-country relocations From packing to unpacking the last box, I have found moving to be an exhausting, expensive and stressful experience every time.