
Cheap Apartments for Rent in Penrose, CO from $600 (39 Rentals)
Search the lowest-cost Apartments available for rent right now in Penrose.


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Stardust Plaza Apartments

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Kona Kai

Evergreen

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Briarwood Apartments

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Lookout at Broadmoor

Grand West at Covington

Mesa Gardens

Total Monthly Price
Cottages at Mesa Ridge
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.

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Cheyenne Crest

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Cottages on the Boulevard

Meadows At Cheyenne Mountain

The Landings at Eagleridge Apartments

Villas at Park West

Cheyenne Crossing

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Mesa Ridge

North Ridge Heights

Skyview
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.

Stonegate Village Apartments

Steel City Flats

Garrison Edge

Oasis at Belmont - Beautiful Renovated Apartments

Kalo Broadmoor Tower

Baltimore Heights

318 N 7th St

1480 Wilmont Rd

Landmark Apartments
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.

Shores at Lakeview

Kalo Broadmoor Terrace

2018 Vinewood Apartments

1936 Vinewood Apartments

Moore Ave Apartments

Belmont Heights

163 W Cokedale Dr

25 Broadmoor

The Reserve
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.

Wildridge

2810 Melvina St

129 W 2nd St
Penrose, CO Local Guide

How much does it cost to rent an apartment in Penrose?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Penrose Studio Apartments | $1,040 | $800 | $1,401 |
| Penrose 1 Bedroom Apartments | $1,456 | $695 | $2,540 |
| Penrose 2 Bedroom Apartments | $1,750 | $900 | $3,480 |
| Penrose 3 Bedroom Apartments | $2,093 | $1,200 | $3,430 |
Browse Top Apartments in Penrose
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Penrose, CO Local Guide
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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. Stardust Plaza Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $785. Here is today’s list of the most affordable Penrose apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Skyview | 1x1_424 | 1BR,1BA | $699 |
| Stardust Plaza Apartments | Small one bedroom | 1BR,1BA | $785 |
| Stonegate Village Apartments | 2 Bedroom | 2BR,1BA | $789 |
| Briarwood Apartments | 1 Bedroom | 1BR,1BA | $895 |
| Kalo Broadmoor Tower | KaloSolo | 1BR,1BA | $895 |
| Lookout at Broadmoor | One Bedroom One Bathroom (A1) | 1BR,1BA | $940 |
| Grand West at Covington | 1 Bedroom/1 Bath | 1BR,1BA | $986 |
| The Aberdeen Apartments | 1 bedroom Garden Level | 1BR,1BA | $995 |
| 25 Broadmoor | Portales | 1BR,1BA | $999 |
| Cottages on the Boulevard | 0x1 - 363 sqft - S1 | Studio,1BA | $1,099 |
Best Value Apartments for Rent in Penrose, CO and Nearby
As of January 29, 2026 the best value apartment in the Penrose area is the $1.04 price per square foot 2BR/2.0BA Model at Welcome to Lazy Days Mobile Home Village! in the in the Deerfield Hills neighborhood starting from $1,450. The second greatest value Penrose apartment is the KaloDuo-Premium Model at Kalo Broadmoor Terrace starting at $1,219 with a $1.19 price per square foot in the Stratton Meadows neighborhood. Here is today’s list of the best values for Penrose apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Welcome to Lazy Days Mobile Home Village! | 2BR/2.0BA | 2BR,2BA | $1.04 |
| Kalo Broadmoor Terrace | KaloDuo-Premium | 2BR,1BA | $1.19 |
| Mesa Gardens | The Mesa | 3BR,1.5BA | $1.28 |
| North Ridge Heights | 2 Bedroom | 2BR,1BA | $1.25 |
| Mountain View Meadows | 3 Bedroom, 1 Bath | 3BR,1BA | $1.54 |
| Stonegate Village Apartments | 2 Bedroom | 2BR,1BA | $0.91 |
| Briarwood Apartments | 1 Bedroom | 1BR,1BA | $1.38 |
| Lookout at Broadmoor | One Bedroom One Bathroom (A1) | 1BR,1BA | $1.49 |
| Kalo Broadmoor Tower | KaloSolo | 1BR,1BA | $1.44 |
| Stardust Plaza Apartments | Small one bedroom | 1BR,1BA | $1.32 |
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 ArticleThe 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 ArticleCash 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 ArticleQuick 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.
Remember the 3 Rules of Real Estate:Location, Location, Location!
Explore Penrose, CO Rentals by Map
See the most popular apartments and homes in Penrose, CO
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 Cottages on the Boulevard listed at $1,099.
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 $789 at Stonegate Village Apartments.
What is the most affordable Penrose Three Bedroom Apartment?
The best deal on a cheap Penrose Three Bedroom Apartment rental is at Mesa Gardens and starts from $1,230.
Expert Rental Resources
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.
Articles, How-To's, and Tips

18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property
Written by: Lauren Harrington
Renting your next home can feel thrilling and overwhelming at the same time.

A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment
Written by: Bob Mallory
Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.

Renting with Roommates: Realistic Expectations for Shared Lease
Written by: Christine Leonard, Esq.
Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.

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.