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

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Cheap Apartments in Penwell.

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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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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Village Place
1 to 4 Bedroom Apartments

Village Place

1220 Adams AveOdessa, TX 79761
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High Plains
1 to 2 Bedroom Apartments

High Plains

3727 Andrews HwyOdessa, TX 79762
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Alturas Eleventh
1 to 2 Bedroom Apartments

Alturas Eleventh

2828 E 11th StOdessa, TX 79761
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Penwell, TX Local Guide

Cheapest Available Penwell Apartments for Rent and Nearby

 

The cheapest available apartment rental in Penwell, TX is a 3 Beds unit found at ARBOR OAKS priced from $824. Trestles Condominiums has the second lowest priced unit, which is a 1 Bed apartment currently listed from $850. Here is today’s list of the most affordable Penwell apartments for rent:

Apartment ListingModel NameBed/BathPriced From
ARBOR OAKSAO-33BR,2BA$824
Trestles CondominiumsOne Bedroom1BR,1BA$850
Westwinds Village1/1, 519 sq ft1BR,1BA$895
High PlainsA11BR,1BA$899
Westwood SquareOne Bedroom Apartment Home1BR,1BA$899
Mission Village of Monahans2 Bedroom2BR,1BA$899
The Paddocks ApartmentsA1 U1BR,1BA$900
University GardensA11BR,1BA$945
Sunset1 Bedroom Apartment Home1BR,1BA$945
AlaraA11BR,1BA$950

Best Value Apartments for Rent in Penwell, TX and Nearby

As of May 04, 2025 the best value apartment in the Penwell area is the $1.25 price per square foot Two Bedroom Townhome Model at Country Crest Townhomes in the starting from $1,400. The second greatest value Penwell apartment is the AO-2 Model at ARBOR OAKS starting at $943 with a $0.87 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$1.25
ARBOR OAKSAO-22BR,2BA$0.87
Mission Village of Monahans2 Bedroom2BR,1BA$0.84
Brookview2 Bedroom Apartment Home2BR,1.5BA$1.42
Village Place4 Bedroom4BR,1BA$1.66
Fairgreen1x11BR,1BA$1.47
Cru Apartments1x11BR,1BA$1.35
Westwood SquareOne Bedroom Apartment Home1BR,1BA$1.24
The Woodlands Apartment HomesEdwards-Classic1BR,1BA$1.61
AlaraA11BR,1BA$1.66

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Frequently Asked Questions about Cheap Penwell Apartments

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

The lowest price for a Cheap One Bedroom Penwell Apartment is $850 at Trestles Condominiums.

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 ARBOR OAKS and starts from $824.

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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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.

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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.

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Know Your Rights - How Discrimination Laws Impact Landlords and Tenants

Written by: Christine Leonard, Esq.

Everyone needs a place to live and to call home. For decades, the federal government has established protections to ensure that individuals and families can find housing free from discriminatory barriers.

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Renting Smart: Lease Basics Every Renter Needs

Written by: Christine Leonard, Esq.

Often, in the excitement of finding a new place to live, there’s a rush to make it happen, and - too often - a new tenant signs a lease without reading it carefully.