6894 CO-12
WestonCO81091
Cheap Homes for Rent in Penasco, NM from $1,200 (9 Rentals)
Search the lowest-cost Homes available for rent right now in Penasco.
1000 NM-76
Santa CruzNM87567
941 Calle Mejia
Santa FeNM87501
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.
202 Lower San Pedro Rd
EspanolaNM87532
13 Calle Silva
TaosNM87571
228 Tesuque Village Rd
Santa FeNM87506
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.
1333a Hickox St
Santa FeNM87505
1807 Camino La Canada
Santa FeNM87501
726 W Manhattan Ave
Santa FeNM87501
Know Your Rights - How Discrimination Laws Impact Landlords and Tenants
Read our practical guide to landlord and tenant rights. Understand protected classes, reasonable accommodations, and legal exceptions to prevent housing discrimination.
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Penasco, NM Local Guide
Sandia National Laboratories solar farm by National Nuclear Security Administration is licensed under Public Domain
How much does it cost to rent a home in Penasco?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Penasco 2 Bedroom Homes for Rent | $2,830 | $1,500 | $4,500 |
| Penasco 3 Bedroom Homes for Rent | $3,479 | $1,250 | $4,600 |
| Penasco 4 Bedroom Homes for Rent | $3,675 | $3,500 | $3,850 |
Browse Top Homes for Rent in Penasco
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Penasco, NM Local Guide
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Cheapest Available Penasco Apartments for Rent and Nearby
The cheapest available apartment rental in Penasco, NM is a Studio unit found at Santa Fe Suites in the Arroyo Chamiso neighborhood priced from $950. Casa de Encantada Senior Apartments in the Encantado del Norte Heritage Series neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $993. Here is today’s list of the most affordable Penasco apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Santa Fe Suites | Studio | Studio,1BA | $950 |
| Casa de Encantada Senior Apartments | One Bedroom | 1BR,1BA | $993 |
| Sierra Blanca Apartments | Studio | Studio,1BA | $1,100 |
Best Value Apartments for Rent in Penasco, NM and Nearby
As of May 10, 2025 the best value apartment in the Penasco area is the $1.50 price per square foot 3x2 Model at Coronado Townhomes in the in the Encantado del Norte Heritage Series neighborhood starting from $1,995. The second greatest value Penasco apartment is the 4 Bedroom 2 Bath Townhome Model at Bluffs at Tierra Contenta starting at $2,420 with a $1.84 price per square foot in the Tiempo Lindo neighborhood. Here is today’s list of the best values for Penasco apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Coronado Townhomes | 3x2 | 3BR,2BA | $1.50 |
| Bluffs at Tierra Contenta | 4 Bedroom 2 Bath Townhome | 4BR,2BA | $1.84 |
| Talavera Apartment Homes | Chamisa | 3BR,2BA | $1.96 |
| Canyon Walk Income Restricted | One Bedroom | 1BR,1BA | $1.27 |
| The Mica | The Pines | 1BR,1BA | $1.91 |
| Casa Loma Apartments | 1x1 | 1BR,1BA | $2.12 |
| Allaso High Desert | A1m1 | 1BR,1BA | $2.15 |
| Soleras Station | One Bedroom | 1BR,1BA | $2.08 |
| The Orchards | One Bedroom | 1BR,1BA | $2.09 |
| Casa de Encantada Senior Apartments | One Bedroom | 1BR,1BA | $1.71 |
Quick Rent Budget Calculator
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Frequently Asked Questions about Penasco
What type of rentals are currently available in Penasco?
There are currently 35 Apartments for Rent in Penasco, NM with pricing that ranges from $950 to $4,505. There are also 36 Single Family Homes for rent, Condos, and Townhome rentals currently available in Penasco ranging from $1,250 to $4,600.
What is the current price range for Rental Homes in Penasco?
Today's rental pricing for Homes for Rent, Condos and Townhomes in Penasco ranges from $1,250 to $4,600 with an average monthly rent of $3,133.
How much are larger Three and Four Bedroom Rentals in Penasco?
For those who are looking for larger living arrangements, Three Bedroom Apartments in Penasco range from $1,574 to $4,505, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,250 to $4,600. Four Bedroom Single-Family rentals are also available starting from $3,500 and Four Bedroom Apartments start at $2,420.
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.
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.
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.
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.
Rise of Digital Nomads: Remote Work Tips for Apartment Renters
Written by: Brandie Parton
As a digital nomad, you no longer call a set address or office building your home for eight hours of the day or more.