Cheap Homes for Rent in the Waters Neighborhood of Lubbock, TX from $500 (43 Rentals)

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Search the lowest-cost Homes available for rent right now in the Waters area of Lubbock.

Local Expert's Inside Scoop: The Most Affordable Neighborhoods to Rent in Lubbock

Explore Lubbock's most affordable neighborhoods! A local expert shares an inside scoop on areas like West End and Downtown, covering cost of living, attractions, and more.

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property at 1902 45th St

$775

2 Bedroom Rentals

Available Now

1902 45th St

LubbockTX79412
property at 2406 46th St

$775

2 Bedroom Rentals

Available Now

2406 46th St

LubbockTX79412
property at 2412 46th St

$795

2 Bedroom Rentals

Available Now

2412 46th St

LubbockTX79412

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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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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property at 4417 75th Dr

$1,050

Total Monthly Price

Total Monthly Price

Base Rent
$1,050
Total Monthly Price
$1,050

2 Bedroom, 2 Bath Home for Rent

Available Now

4417 75th Dr, Unit A

4417 75th Dr
LubbockTX79424
property at 4404 75th Dr

$1,100

Total Monthly Price

Total Monthly Price

Base Rent
$1,100
Total Monthly Price
$1,100

2 Bedroom, 2 Bath Home for Rent

Available Now

4404 75th Dr, Unit b

4404 75th Dr
LubbockTX79424

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 1-43, Page 1 of 1

Waters, Lubbock, TX Local Guide

Cheapest Available Waters Apartments for Rent

 

The cheapest available apartment rental in the Waters area of Lubbock, TX is a 3 Beds unit found at Reserves at South Plains priced from $553. Sundowner has the second lowest priced unit, which is a Studio apartment currently listed from $625. Here are the most affordable Waters apartments for rent in Lubbock, TX:

Apartment ListingModel NameBed/BathPriced From
Reserves at South PlainsC3-30%3BR,2BA$553
SundownerEfficiencyStudio,1BA$625
Cottonwood Apartments2 Bedroom 1 Bath - 737942BR,1BA$649
Boulders At Lakeridgeip1BR,1BA$650
7410 Quaker Ave1/11BR,1BA$700
Lubbock SquareA11BR,1BA$718
Courtyards by the LakeOne Bedroom Villa1BR,1BA$725
Waterside Village1 bedroom 1 bathroom1BR,1BA$735
Parkside ApartmentsA1P1BR,1BA$745
Lubbock Lakeway ApartmentsOne Bedroom1BR,1BA$775

Best Value Apartments for Rent in Waters, TX

As of July 24, 2026 the best value apartment in the Waters area is the $0.82 price per square foot Plan 1818 Model at Del Estrado Townhomes in the in the South Lubbock neighborhood starting from $1,499. The second greatest value Waters apartment is the LG2BR Model at Greenwood Apartments A starting at $1,100 with a $1.09 price per square foot in the University Pines neighborhood. Here is today’s list of the best values for Waters apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Del Estrado TownhomesPlan 18183BR,2.5BA$0.82
Greenwood Apartments ALG2BR2BR,2BA$1.09
The EnclaveMonte Carlo2BR,2BA$1.10
Waterside Village1 bedroom / 1 bathroom Remodel1BR,1BA$0.93
Saddlewood Apartments1 Bedroom C Upgrade1BR,1BA$1.06
Cottonwood Apartments2 Bedroom 1 Bath - 737942BR,1BA$0.86
San RemyThe Lavender1BR,1BA$1.06
Courtyards At Monterey1 BD/1 BA1BR,1BA$1.08
Courtyards by the LakeOne Bedroom Villa1BR,1BA$1.03
Lubbock SquareA11BR,1BA$1.10

Lubbock Student Life: A Local Expert's Guide to Top Neighborhoods to Rent Near Tech and Other Local Campuses

Our local expert Tours the Top Lubbock Student Friendly Neighborhoods Near Texas Tech, LCU, South Plains College, and Wayland Baptist

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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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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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Quick Rent Budget Calculator

How much rent can you afford?

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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Best Local Schools in
Waters, Lubbock, TX

School data provided by Great Schools

Frequently Asked Questions about Waters

What type of rentals are currently available in Waters?

There are currently 163 Apartments for Rent in Waters, TX with pricing that ranges from $488 to $1,725. There are also 139 Single Family Homes for rent, Condos, and Townhome rentals currently available in Waters ranging from $525 to $5,000.

What is the current price range for Rental Homes in Waters?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Waters ranges from $525 to $5,000 with an average monthly rent of $1,967.

How much are larger Three and Four Bedroom Rentals in Waters?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Waters range from $553 to $1,695, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,125 to $2,900. Four Bedroom Single-Family rentals are also available starting from $1,100 and Four Bedroom Apartments start at $1,725.

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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Local Expert's Inside Scoop: The Most Affordable Neighborhoods to Rent in Lubbock

Written by: Tiffany Clark

Just south of the Texas Panhandle is the lesser-mentioned South Plains region of the Lone Star State. And that's where you'll find the humble little city of Lubbock.

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

Written by: Robin Stewart

Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.

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Apartment Occupancy Rates: Renter Attraction vs Renter Retention

Written by: Robin Stewart

There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.