Cheap Apartments for Rent in Penwell, TX from $700 (30 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 Penwell.

close
View Me
Alturas Eleventh
1 to 2 Bedroom Apartments

Alturas Eleventh

2828 E 11th StOdessa, TX 79761
close
View Me
High Plains
1 to 2 Bedroom Apartments

High Plains

3727 Andrews HwyOdessa, TX 79762
close
View Me
Village Place
1 to 4 Bedroom Apartments

Village Place

1220 Adams AveOdessa, TX 79761
Corporate Housing
  • Utilities Included
Showing Results 1-30, Page 1 of 1

Penwell, TX Local Guide

Cheapest Available Penwell Apartments for Rent and Nearby

 

The cheapest available apartment rental in Penwell, TX is a 1 Bed unit found at Brady Station Apartments priced from $824. Sunset has the second lowest priced unit, which is a 1 Bed apartment currently listed from $875. Here is today’s list of the most affordable Penwell apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Brady Station ApartmentsThe Blair1BR,1BA$824
Sunset1 Bedroom Apartment Home1BR,1BA$875
Westwinds Village1/1, 519 sq ft1BR,1BA$895
The Paddocks ApartmentsA1 U1BR,1BA$900
Alturas PenbrookRise1BR,1BA$900
Alturas EleventhRise1BR,1BA$900
Westwood SquareOne Bedroom Apartment Home1BR,1BA$924
Southgate1 Bedroom Apartment Home1BR,1BA$949
Sandpiper ApartmentsOne Bedroom1BR,1BA$950
Madison Square1 Bedroom Apartment Home1BR,1BA$960

Best Value Apartments for Rent in Penwell, TX and Nearby

As of November 18, 2025 the best value apartment in the Penwell area is the $1.30 price per square foot Two Bedroom Townhome Model at Country Crest Townhomes in the starting from $1,460. The second greatest value Penwell apartment is the Caprock Model at Faudree Ranch Apartments starting at $1,629 with a $1.48 price per square foot . Here is today’s list of the best values for Penwell apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Country Crest TownhomesTwo Bedroom Townhome2BR,1.5BA$1.30
Faudree Ranch ApartmentsCaprock2BR,2BA$1.48
Cru Apartments2x22BR,2BA$1.38
Hemingway House ApartmentsD2BR,2BA$1.51
Fairgreen1x11BR,1BA$1.29
Westwood SquareOne Bedroom Apartment Home1BR,1BA$1.27
Brookview1 Bedroom Apartment Home1BR,1BA$1.55
The Woodlands Apartment HomesEdwards-Classic1BR,1BA$1.61
Pebblebend ApartmentsBU1BR,1BA$1.62
Madison Square1 Bedroom Apartment Home1BR,1BA$1.60

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

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

Explore Penwell, TX Rentals by Map

Decorative image of map

See the most popular apartments and homes in Penwell, TX

View Map
Penwell, TX Apartments Map
View Map
Penwell, TX Rental Homes Map

Frequently Asked Questions about Cheap Penwell Apartments

What is the Cheapest Studio apartment in Penwell?

Currently the most affordable Cheap Studio Apartment in Penwell is at Brady Station Apartments listed at $824.

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

The lowest price for a Cheap One Bedroom Penwell Apartment is $824 at Brady Station Apartments.

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

Today's best deal for a Cheap Two Bedroom Apartment in Penwell is starting from $1,005 at Alturas Penbrook.

What is the most affordable Penwell Three Bedroom Apartment?

The best deal on a cheap Penwell Three Bedroom Apartment rental is at Brookview and starts from $1,489.

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.