Cheap Apartments for Rent in Penwell, TX from $700 (29 Rentals)

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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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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.

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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.

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Alturas Eleventh
1 to 2 Bedroom Apartments

Alturas Eleventh

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

High Plains

3727 Andrews HwyOdessa, TX 79762
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Acacia Park
1 to 2 Bedroom Apartments

Acacia Park

4775 Oakwood DrOdessa, TX 79761

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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Village Place
1 to 4 Bedroom Apartments

Village Place

1220 Adams AveOdessa, TX 79761
Corporate Housing
  • Utilities Included
Showing Results 1-29, 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 Westwood Square priced from $799. Sunset has the second lowest priced unit, which is a 1 Bed apartment currently listed from $845. Here is today’s list of the most affordable Penwell apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Westwood SquareOne Bedroom Apartment Home1BR,1BA$799
Sunset1 Bedroom Apartment Home1BR,1BA$845
Woodview1 Bedroom Apartment Home1BR,1BA$850
Westwinds Village1/1, 519 sq ft1BR,1BA$895
Mission Village of Monahans2 Bedroom2BR,1BA$899
The Paddocks ApartmentsA1 U1BR,1BA$900
Brady Station ApartmentsThe Blair1BR,1BA$935
Cru Apartments1x11BR,1BA$949
Southgate1 Bedroom Apartment Home1BR,1BA$949
Brookview1 Bedroom Apartment Home1BR,1BA$950

Best Value Apartments for Rent in Penwell, TX and Nearby

As of December 20, 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 E Model at Hemingway House Apartments starting at $1,705 with a $1.56 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
Hemingway House ApartmentsE2BR,2.5BA$1.56
Mission Village of Monahans2 Bedroom2BR,1BA$0.84
Southgate3 Bedroom Apartment Home3BR,2BA$1.60
Fairgreen1x11BR,1BA$1.29
Cru Apartments1x11BR,1BA$1.28
Westwood SquareOne Bedroom Apartment Home1BR,1BA$1.10
Brookview1 Bedroom Apartment Home1BR,1BA$1.38
Madison Square1 Bedroom Apartment Home1BR,1BA$1.60
Sunset1 Bedroom Apartment Home1BR,1BA$1.56

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.

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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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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.

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

Explore Penwell, TX Rentals by Map

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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 Advenir at Legado Ranch listed at $1,154.

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

The lowest price for a Cheap One Bedroom Penwell Apartment is $799 at Westwood Square.

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 $899 at Mission Village of Monahans.

What is the most affordable Penwell Three Bedroom Apartment?

The best deal on a cheap Penwell Three Bedroom Apartment rental is at Mission Village of Monahans and starts from $999.

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

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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.

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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.

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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate! 

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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.