Cheap Apartments for Rent in Lorena, TX from $739 (42 Rentals)

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

Waco's Best Affordable Neighborhoods

Learn about Waco and the best places to live with original content written by our Texas Local Expert Rhonda R Fletcher

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The Cove on 21st
$943 - $1,293

Total Monthly Price

Base Rent$943 - $1,293
Total Monthly Price$943 - $1,293
1 to 3 Bedroom Apartments Available Now

The Cove on 21st

2425 S 21st StWaco, TX 76706
Corporate Housing
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  • Customer Reviewed
  • 3D Tour

Rent According to Income: A Look at Income-Restricted Rentals

Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.

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Renters Insurance 101: What It Is, What It Covers, and Why You Need It

From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

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Roots at Waco
Rent Specials
$1,262 - $1,937

Total Monthly Price

Base Rent$1,262 - $1,937
Total Monthly PriceVaries
1 to 3 Bedroom Apartments Available Now

Roots at Waco

3001 S New RdWaco, TX 76706
Corporate Housing
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South Terrace
1 to 4 Bedroom Apartments

South Terrace

2616 S 12th StWaco, TX 76706
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Legacy Ridge
1 to 2 Bedroom Apartments

Legacy Ridge

2506 Hilltop DrWaco, TX 76710
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Prime Properties Waco
1 to 4 Bedroom Apartments

Prime Properties Waco

1800 Primrose DrWaco, TX 76706
Corporate Housing
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19Eleven
1 to 4 Bedroom Apartments

19Eleven

1911 S 8th StWaco, TX 76706
Student Housing

How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.

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Tribeca
1 to 2 Bedroom Apartments

Tribeca

4801 Sanger AveWaco, TX 76710
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The Midway
1 to 3 Bedroom Apartments

The Midway

416 Owen LnWaco, TX 76710
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Creole Apartments
1 to 2 Bedroom Apartments

Creole Apartments

6601-6701 May DrWaco, TX 76710
  • Utilities Included

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

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Showing Results 1-42, Page 1 of 1

Lorena, TX Local Guide

Cheapest Available Lorena Apartments for Rent and Nearby

 

The cheapest available apartment rental in Lorena, TX is a 1 Bed unit found at South Terrace in the South End neighborhood priced from $697. University Edge Waco in the South End neighborhood has the second lowest priced unit, which is a 4 Beds apartment currently listed from $745. Here is today’s list of the most affordable Lorena apartments for rent:

Apartment ListingModel NameBed/BathPriced From
South Terrace1x11BR,1BA$697
University Edge WacoPlan E4BR,4BA$745
Rambler Heights1 Bedroom1BR,1BA$750
The Colony ApartmentsUnit AStudio,1BA$825
Avila1 Bed, 1 Bath (80% Income Restricted)1BR,1BA$869
Prime Properties Waco1Bed-1Bath1BR,1BA$875
Sandstone1 Bed, 1 Bath A (80% Income Restricted)1BR,1BA$889
Westwood Villa Apartments1BR/1BA1BR,1BA$915
Heritage SquareA1BR,1BA$923
The Cove on 21stA11BR,1BA$943

Best Value Apartments for Rent in Lorena, TX and Nearby

As of September 14, 2026 the best value apartment in the Lorena area is the $1.00 price per square foot 2 Bed Townhome Model at Woodway Park Condominiums in the in the Parkdale neighborhood starting from $1,200. The second greatest value Lorena apartment is the 2 Bed, 2 Bath Model at Lake Air Green Apartments starting at $1,200 with a $1.04 price per square foot in the Parkdale neighborhood. Here is today’s list of the best values for Lorena apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Woodway Park Condominiums2 Bed Townhome2BR,1.5BA$1.00
Lake Air Green Apartments2 Bed, 2 Bath2BR,2BA$1.04
Park Place Apartments2 Bed Townhome2BR,2.5BA$1.13
MeadowParkTownhome2BR,2.5BA$1.14
University Edge WacoPlan B2BR,2BA$0.82
The Edmond Apartments2X12BR,1BA$1.21
Westwood Villa Apartments1BR/1BA1BR,1BA$1.24
Prime Properties Waco1Bed-1Bath1BR,1BA$1.24
Rambler Heights1 Bedroom1BR,1BA$1.10
South Terrace1x11BR,1BA$1.10

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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Top Neighborhoods to Rent Near Major Colleges and Universities in Waco

A Local Experts Guide to The Neighborhoods for Student Housing near Colleges and Universities in Waco. Find your perfect Waco apartment, condo, or rental home today at ApartmentHomeliving.com

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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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Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University

From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.

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Best Local Schools in
Lorena, TX

School data provided by Great Schools

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

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Frequently Asked Questions about Cheap Lorena Apartments

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

The lowest price for a Cheap One Bedroom Lorena Apartment is $697 at South Terrace.

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

Today's best deal for a Cheap Two Bedroom Apartment in Lorena is starting from $895 at Rambler Heights.

What is the most affordable Lorena Three Bedroom Apartment?

The best deal on a cheap Lorena Three Bedroom Apartment rental is at Prime Properties Waco and starts from $1,050.

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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Top Neighborhoods to Rent Near Major Colleges and Universities in Waco

Written by: Rhonda R Fletcher

Hi, I'm Rhonda, your ApartmentHomeLiving.com Local Expert for Waco, Texas. Waco is a fun town (even for Longhorns). There are some great diners and beautiful landmarks.

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Rent According to Income: A Look at Income-Restricted Rentals

Written by: Robin Stewart

The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.

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Exploring Rental Options: Apartments, Townhomes, and Lofts - Oh My!

Written by: Robin Stewart

Where do you see yourself? When you think of home, sweet home, are you in a 3/2 apartment? Dreaming of a tall townhome? Maybe an industrial loft heavy on cool vibes is on your visioning board.

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Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags

Written by: Robin Stewart

Renters want to find a great apartment, the right place for them, one that checks all the boxes of location, rental cost, amenities, safety, and more.