Cheap Apartments for Rent in Penrose, CO from $600 (33 Rentals)

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

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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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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817 E B St
1 Bedroom Apartments

817 E B St

817 E B StPueblo, CO 81003
  • Utilities Included
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Belmont Heights
1 to 3 Bedroom Apartments

Belmont Heights

1408 E 21st StPueblo, CO 81001

Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

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Westmeadow Peaks
1 to 3 Bedroom Apartments

Westmeadow Peaks

1472 Meadow Peak VwColorado Springs, CO 80906
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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 Skyview priced from $699. Oasis at Belmont has the second lowest priced unit, which is a 1 Bed apartment currently listed from $849. Here is today’s list of the most affordable Penrose apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Skyview1x1_4241BR,1BA$699
Oasis at BelmontOasis Belmont ** Special 2nd Month Free **1BR,1BA$849
Baltimore Heights1 Bed, 1 Bath1BR,1BA$850
Briarwood Apartments1 Bedroom1BR,1BA$895
Shores at LakeviewA11BR,1BA$899
Stonegate Village Apartment HomesTop Floor3BR,2BA$926
Kona KaiOne Bedroom1BR,1BA$975
WildridgeE-21BR,1BA$1,050
Mesa GardensThe Rosemount2BR,1BA$1,065
Lookout at BroadmoorOne Bedroom One Bathroom (A1)1BR,1BA$1,085

Best Value Apartments for Rent in Penrose, CO and Nearby

As of June 01, 2025 the best value apartment in the Penrose area is the $0.81 price per square foot Top Floor Model at Stonegate Village Apartment Homes in the starting from $926. The second greatest value Penrose apartment is the 3 bedroom Model at North Ridge Heights starting at $1,500 with a $1.36 price per square foot in the Sky View 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.
Stonegate Village Apartment HomesTop Floor3BR,2BA$0.81
North Ridge Heights3 bedroom3BR,2BA$1.36
Bonterra Lakeside ApartmentsCypress2BR,1BA$1.62
Quail CoveAspen - Renovated2BR,2BA$1.62
Mesa GardensThe Rosemount2BR,1BA$1.33
2018 Vinewood ApartmentsTwo Bedroom2BR,1BA$1.37
Westmeadow Peaks1 Bedroom1BR,1BA$1.63
Oasis at BelmontOasis Belmont ** Special ** 2nd Month Free **2BR,1BA$1.43
Briarwood Apartments1 Bedroom1BR,1BA$1.38
Baltimore Heights1 Bed, 1 Bath1BR,1BA$1.42

Quick Rent Budget Calculator

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

Explore Penrose, CO Rentals by Map

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See the most popular apartments and homes in Penrose, CO

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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

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

The lowest price for a Cheap One Bedroom Penrose Apartment is $699 at Skyview.

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 Stonegate Village Apartment Homes and starts from $926.

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.

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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.

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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.

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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.

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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.