Cheap Apartments for Rent in Penrose, CO from $600 (34 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
to
Lifestyle Matching SearchDone
Learn more about Lifestyle Search
By AmenitiesDone
By Community TypeDone
Features and AvailabilityDone
Done

Search the lowest-cost Apartments available for rent right now in Penrose.

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.

Read Article

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.

Read Article
close
View Me
Steel City Flats
1 to 2 Bedroom Apartments

Steel City Flats

625 W 14th StPueblo, CO 81003
close
View Me
Shores at Lakeview
1 to 2 Bedroom Apartments

Shores at Lakeview

1300 Lakeview AvePueblo, CO 81004
Corporate Housing

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.

Read Article
close
View Me
Moore Ave Apartments
1 to 2 Bedroom Apartments

Moore Ave Apartments

1691 Moore AvePueblo, CO 81005
  • Utilities Included
close
View Me
Kalo Broadmoor Tower
Studio to 2 Bedroom Apartments

Kalo Broadmoor Tower

929 Arcturus DrColorado Springs, CO 80905
close
View Me
Belmont Heights
Studio to 3 Bedroom Apartments

Belmont Heights

1408 E 21st StPueblo, CO 81001
Corporate Housing
close
View Me
Wildridge
1 to 3 Bedroom Apartments

Wildridge

2485 Gold Rush DrColorado Springs, CO 80906
  • 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.

Read Article
close
View Me
25 Broadmoor
Studio to 2 Bedroom Apartments

25 Broadmoor

25 Sommerlyn RdColorado Springs, CO 80906
Military
Showing Results 1-34, Page 1 of 1

Penrose, CO Local Guide

Cheapest Available Penrose Apartments for Rent and Nearby

 

The cheapest available apartment rental in Penrose, CO is a 1 Bed unit found at The Aberdeen Apartments in the Sky View neighborhood priced from $695. Skyview in the Sky View neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $699. Here is today’s list of the most affordable Penrose apartments for rent:

Apartment ListingModel NameBed/BathPriced From
The Aberdeen Apartments1 bedroom Garden Level1BR,1BA$695
Skyview1x1_4241BR,1BA$699
Oasis at Belmont1 Bedroom 1 Bath ** Special 2nd Month Free **...1BR,1BA$849
Baltimore Heights1 Bed, 1 Bath1BR,1BA$850
Briarwood Apartments1 Bedroom1BR,1BA$895
Shores at LakeviewA11BR,1BA$899
Kona KaiOne Bedroom1BR,1BA$975
Kalo Broadmoor TerraceKaloUnityStudio,1BA$999
Kalo Broadmoor TowerKaloUnity-PremiumStudio,1BA$1,038
Cheyenne CrestEllenStudio,1BA$1,050

Best Value Apartments for Rent in Penrose, CO and Nearby

As of November 03, 2025 the best value apartment in the Penrose area is the $1.69 price per square foot B1 Model at Overlook at Fountain Creek in the in the The Heights at Cross Creek neighborhood starting from $1,795. The second greatest value Penrose apartment is the 3 Bedroom, 1 Bath Model at Mountain View Meadows starting at $1,450 with a $1.60 price per square foot in the The Heights at Cross Creek neighborhood. Here is today’s list of the best values for Penrose apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Overlook at Fountain CreekB12BR,2BA$1.69
Mountain View Meadows3 Bedroom, 1 Bath3BR,1BA$1.60
Bonterra Lakeside ApartmentsMimosa1BR,1BA$1.65
Westmeadow Peaks1 Bedroom1BR,1BA$1.63
Oasis at Belmont2 Bed 1 Bath ** Special ** 2nd Month Free **Ap...2BR,1BA$1.43
Meadows At Cheyenne MountainThe Indian Paintbrush1BR,1BA$1.71
Briarwood Apartments1 Bedroom1BR,1BA$1.38
The Aberdeen Apartments1 bedroom Balcony Level1BR,1BA$1.47
Baltimore Heights1 Bed, 1 Bath1BR,1BA$1.42
Skyview1x1_4241BR,1BA$1.65

Apartment Common Area Rules: What Renters Need to Know

From the lounge to the laundry room, understand your rights and responsibilities in shared apartment spaces. Get tips on pet rules, noise, and security.

Read Article
Decorative image

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
Decorative image

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.

Read Article
Decorative image

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.

decorative image of people with a giant lease agreement

Pet Friendly Lifestyle
Penrose, CO

Ranked #197

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

Pet Friendliness Lifestyle Score

2.5
Pet Friendly

decorative image of woman handing cat to small boy

Remember the 3 Rules of Real Estate:
Location, Location, Location!

Explore Penrose, CO Rentals by Map

Decorative image of map

See the most popular apartments and homes in Penrose, CO

View Map
Penrose, CO Apartments Map
View Map
Penrose, CO Rental Homes Map

Getting Around Penrose, CO

Walk Score®

13 / 100

Car-Dependent

Almost all errands require a car

Bike Score®

35 / 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 Cheap Penrose Apartments

What is the Cheapest Studio apartment in Penrose?

Currently the most affordable Cheap Studio Apartment in Penrose is at Kalo Broadmoor Terrace listed at $999.

How much is rent for a Cheap One Bedroom Penrose Apartment?

The lowest price for a Cheap One Bedroom Penrose Apartment is $695 at The Aberdeen Apartments.

What is the lowest price for a Cheap Two Bedroom Penrose Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Penrose is starting from $999 at Oasis at Belmont.

What is the most affordable Penrose Three Bedroom Apartment?

The best deal on a cheap Penrose Three Bedroom Apartment rental is at Mountain View Meadows and starts from $1,450.

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.

decorative image for Apartment Common Area Rules: What Renters Need to Know article

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.

decorative image for How to Negotiate Your Apartment Lease and Save Money article

How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate! 

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

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.

decorative image for Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between article

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.