1048 Eagle Canyon Dr
China SpringTX76633
Cheap Homes for Rent in Penelope, TX from $600 (7 Rentals)
Search the lowest-cost Homes available for rent right now in Penelope.
907 N Harrison St
WestTX76691
4692 Old Dallas Rd
Elm MottTX76640
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.
1224 Ashleman St
WacoTX76705
43 Addi Lane
Lacy LakeviewTX76705
39 Addi Lane
Lacy LakeviewTX76705
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.
906 E Walnut St
HillsboroTX76645
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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 | $1,280 | $900 | $1,500 |
| Penelope 3 Bedroom Homes for Rent | $1,771 | $1,325 | $2,500 |
| Penelope 4 Bedroom Homes for Rent | $2,150 | $1,800 | $2,500 |
| Penelope 5 Bedroom Homes for Rent | $2,315 | $650 | $4,300 |
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Penelope, TX Local Guide
- Nearby Cities
- ZIP codes
- Local Counties
- School Districts
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. Elevate in the Carver neighborhood has the second lowest priced unit, which is a 3 Beds apartment currently listed from $659. 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 |
| Elevate | C2 | 3BR,2BA | $659 |
| Eagle Crest Apartments | Efficiency/Studio | Studio,1BA | $679 |
Best Value Apartments for Rent in Penelope, TX and Nearby
As of November 17, 2025 the best value apartment in the Penelope area is the $0.82 price per square foot Plan B Model at University Edge Waco in the in the South End neighborhood starting from $799. The second greatest value Penelope apartment is the 3 Bedroom 1 bath Model at Waco Apartments starting at $1,000 with a $1.05 price per square foot in the Alta Vista 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. |
|---|---|---|---|
| University Edge Waco | Plan B | 2BR,2BA | $0.82 |
| Waco Apartments | 3 Bedroom 1 bath | 3BR,1BA | $1.05 |
| Villas of Hubbard | 2 Bed 1 Bath | 2BR,1BA | $1.19 |
| MB Country Meadow Apartments | 2Bedroom | 2BR,1BA | $1.24 |
| Historic Lofts at Waco High | 1 Bedroom | 1BR,1BA | $1.16 |
| Prime Properties Waco | 1Bed-1Bath | 1BR,1BA | $1.21 |
| Madison Highlands | Anderson | 1BR,1BA | $1.41 |
| University Club Apartments | Two Bedroom Two Bath | 2BR,2BA | $1.15 |
| The Meadows Apartments | One Bedroom | 1BR,1BA | $1.24 |
| Brazos Park Apartments | B-1b1bm | 1BR,1BA | $1.25 |
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.
Read Article
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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Pet Friendly LifestylePenelope, TX
Ranked #1145
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!
Explore Penelope, TX Rentals by Map
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 47 Apartments for Rent in Penelope, TX with pricing that ranges from $366 to $3,975. There are also 41 Single Family Homes for rent, Condos, and Townhome rentals currently available in Penelope ranging from $650 to $4,300.
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 $4,300 with an average monthly rent of $1,750.
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 $505 to $3,637, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,325 to $2,500. Four Bedroom Single-Family rentals are also available starting from $1,800 and Four Bedroom Apartments start at $499.
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.
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.
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.