Cheap Apartments for Rent in Penwell, TX from $700 (23 Rentals)

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Search the lowest-cost Apartments available for rent right now in Penwell.

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

Best Value Apartments for Rent in Penwell, TX and Nearby

As of April 24, 2025 the best value apartment in the Penwell area is the $1.35 price per square foot Two Bedroom Townhome Model at Country Crest Townhomes in the starting from $1,510. 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$1.35
ARBOR OAKSAO-22BR,2BA$0.87
Mission Village of Monahans2 Bedroom2BR,1BA$0.84
Woodview2 Bedroom Apartment Home2BR,2BA$1.46
Brookview2 Bedroom Apartment Home2BR,1.5BA$1.42
Brady Station ApartmentsThe Vienna2BR,2BA$1.24
Cru Apartments1x11BR,1BA$1.35
Westwood SquareOne Bedroom Apartment Home1BR,1BA$1.24
The Woodlands Apartment HomesEdwards-Classic1BR,1BA$1.61
AlaraA11BR,1BA$1.64

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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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Understanding Amenity Fees: Know Where You Might Be Able to Save Money

Written by: Amber Kanuckel

With the rising costs of housing, a lot of renters are asking this question: Is it possible to opt out of various amenities that your rental property offers so that you can avoid paying the fees.

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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.

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Battling the Butts: Your Guide to the Reality of Smoke-Free Renting

Written by: Andrea Lee Negroni, JD

While many apartment buildings are “no smoking” properties, it’s hard to know exactly how many. In 2017, the National Apartment Association reported more than half of rental properties had smoke free policies.