1048 Eagle Canyon Dr
China SpringTX76633
Cheap Homes for Rent in Penelope, TX from $600 (8 Rentals)
Search the lowest-cost Homes available for rent right now in Penelope.
1140 Faulkner Ln
WacoTX76704
4203 Compton Ln
BellmeadTX76705
516 Lottie St
WacoTX76704
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.
907 N Harrison St
WestTX76691
411 Baker
WacoTX76708
5620 Old Dallas Rd
Elm MottTX76640
101 N Walnut St
WacoTX76705
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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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 | $1,404 | $850 | $2,500 |
| Penelope 3 Bedroom Homes for Rent | $1,710 | $1,200 | $2,400 |
| Penelope 4 Bedroom Homes for Rent | $1,450 | $1,450 | $1,450 |
| Penelope 5 Bedroom Homes for Rent | $650 | $650 | $650 |
Browse Top Homes for Rent in Penelope
Explore Penelope
Penelope, TX Local Guide
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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 South Terrace in the South End neighborhood priced from $658. Historic Lofts at Waco High in the Carver neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $750. Here is today’s list of the most affordable Penelope apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| South Terrace | 1x1 | 1BR,1BA | $658 |
| Historic Lofts at Waco High | 1 Bedroom | 1BR,1BA | $750 |
| The Meadows Apartments | One Bedroom | 1BR,1BA | $795 |
Best Value Apartments for Rent in Penelope, TX and Nearby
As of May 31, 2025 the best value apartment in the Penelope area is the $1.24 price per square foot 2 Bedrooms 1 Bath Model at 19Eleven in the in the North End neighborhood starting from $1,349. The second greatest value Penelope apartment is the 1BR/2BA - with Den Model at URSA starting at $1,380 with a $1.56 price per square foot in the Carver 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 | 2 Bedrooms 1 Bath | 2BR,1BA | $1.24 |
| URSA | 1BR/2BA - with Den | 1BR,2BA | $1.56 |
| Historic Lofts at Waco High | 1 Bedroom | 1BR,1BA | $0.94 |
| Prime Properties Waco | 1Bed-1Bath | 1BR,1BA | $1.31 |
| Highland Cove | 1 BR A | 1BR,1BA | $1.44 |
| Carriage House | 672 sq ft 1 bed | 1BR,1BA | $1.64 |
| The Meadows Apartments | One Bedroom | 1BR,1BA | $1.24 |
| South Terrace | 1x1 | 1BR,1BA | $1.07 |
| The Enclave at the Stadium | A1 | 1BR,1BA | $1.61 |
| University Club Apartments | One Bedroom | 1BR,1BA | $1.36 |
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Frequently Asked Questions about Penelope
What type of rentals are currently available in Penelope?
There are currently 44 Apartments for Rent in Penelope, TX with pricing that ranges from $599 to $3,835. There are also 36 Single Family Homes for rent, Condos, and Townhome rentals currently available in Penelope ranging from $650 to $2,500.
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 $650 to $2,500 with an average monthly rent of $1,326.
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 $3,605, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,200 to $2,400. Four Bedroom Single-Family rentals are also available starting from $1,450 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.
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.
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.
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.
Navigating the Rental Market: Tips for First-Time Renters
Written by: Sandy Baker
Making the decision to rent is exciting and terrifying at the same time. For many people, there are a lot of unknowns.