Cheap Apartments for Rent in Waco, TX from $400 (91 Rentals)

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

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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Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.

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The Cove on 21st
$943 - $1,308
Total Monthly Price

Total Monthly Price

Base Rent
$943 - $1,308
Total Monthly Price
$943 - $1,308
1 to 3 Bedroom Apartments Available Now

The Cove on 21st

2425 S 21st StWaco, TX 76706
Corporate Housing
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property at 104 Faye Dr

$950

1 Bedroom Rentals

Available Now

104 Faye Dr

WacoTX76705

Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.

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PECAN RIDGE-WACO
$1,077 - $1,783
Total Monthly Price

Total Monthly Price

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$1,077 - $1,783
Total Monthly Price
Varies
1 to 2 Bedroom Apartments Available Now

PECAN RIDGE-WACO

2736 Lake Shore DrWaco, TX 76708
Corporate Housing
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  • Customer Reviewed
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RIVERCREST
$1,101 - $1,697
Total Monthly Price

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$1,101 - $1,697
Total Monthly Price
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1 to 2 Bedroom Apartments Contact Us For Availability

RIVERCREST

66 Daughtrey AveWaco, TX 76706
Student Housing
  • Verified
  • Customer Reviewed
  • Utilities Included

Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.

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The Commodores
1 Bedroom Apartments

The Commodores

1326 S 11th StWaco, TX 76706

The Art of the Rental Viewing: What to look for during a property tour

Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

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Waco, TX Local Guide

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Written By:
Staff Writer
Local Guide Expert

Cheapest Neighborhoods for Apartments in Waco, TX

Pricing Updated: 05/25/2026

Current apartment rentals in the Waco, TX area range in price from $499 to $4,027 with an overall median price of $1,460. The three Waco neighborhoods with the lowest median rent pricing are Oakwood at $685, Brookview at $799, and Timbercrest at $685. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Waco Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Oakwood$1,127$68514
Brookview$1,172$79919
Timbercrest$1,281$68543
North Waco$1,360$49962
Heart of Texas$1,402$795102
Landon Branch$1,402$690104
Parkdale$1,409$795105
Alta Vista$1,454$68535
North End$1,480$69057
Richland Hills$1,495$690111

Cheapest Available Waco Apartments for Rent

 

The cheapest available apartment rental in Waco, TX is a Studio unit found at Eagle Crest Apartments in the Carver neighborhood priced from $599. Elevate in the Carver neighborhood has the second lowest priced unit, which is a 3 Beds apartment currently listed from $659. Here is today’s list of the most affordable Waco apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Eagle Crest ApartmentsEfficiency/StudioStudio,1BA$599
ElevateC23BR,2BA$659
LL Sams ApartmentsStandard Loft - 4 BDR, 2 BTH | ONE LEFT4BR,2BA$699
University Club ApartmentsOne Bedroom1BR,1BA$709
University Edge WacoPlan E4BR,4BA$745
Rambler Heights1 Bedroom1BR,1BA$750
Brazos Park ApartmentsA-1b1bs1BR,1BA$779
Eleven06 on 35 Apartments1 Bedroom, 1 Bath1BR,1BA$795
The Meadows ApartmentsOne Bedroom1BR,1BA$795
Avila1 Bed, 1 Bath (80% Income Restricted)1BR,1BA$807

Best Value Apartments for Rent in Waco, TX

As of May 25, 2026 the best value apartment in the Waco 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 Waco apartment is the Two Bedroom Model at Park Place 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 Waco apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Woodway Park Condominiums2 Bed Townhome2BR,1.5BA$1.00
Park Place ApartmentsTwo Bedroom2BR,2BA$1.04
MeadowParkTownhome2BR,2.5BA$1.14
ElevateC13BR,3BA$0.61
University Edge WacoPlan B2BR,2BA$0.82
Barrons Branch IIB12BR,2BA$0.98
LL Sams ApartmentsStandard Loft - 2 BDR, 1 BTH | VERY LIMITED2BR,1BA$0.86
Bear Crossing2 Bedroom 2 Bath2BR,2BA$0.59
Historic Lofts of Waco High1 Bedroom1BR,1BA$1.19
Rambler Heights1 Bedroom1BR,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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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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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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Waco Overview

Waco, Texas is known as the state’s heartland—and with good reason. It’s a populous area and a great central location with over 81% of the state’s residents living within a 200-mile radius. Located in McLennan County, the city offers an array of outdoor sports and recreational activities, a lively arts scene, and great historic sites like the Texas Sports Hall of Fame. With many options for great apartmens in Waco available to locals, finding your new home here is a cinch!

Why live in Waco, TX?

Warm and inviting, Waco is emblematic of the Texas heartland. Outdoor enthusiasts enjoy everything from hiking to fishing, and the area’s flourishing arts scene includes the historic Hippodrome Theatre. The equally historic River Square Center is a charming alternative to traditional shopping centers, which you’ll also find in equal abundance in town. Waco has grown in diversity, and it’s a prime spot for growing families and those seeking an authentic Texas experience.

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

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Waco, TX Area Reviews

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Rhonda

February 25, 2025

I have spent a lot of time in Waco over the years. It is a great place to start a family or retire for a quieter lifestyle.

Frequently Asked Questions about Cheap Waco Apartments

What is the price of a cheap apartment in Waco?

The cheapest apartment in Waco is Eagle Crest Apartments which is listed at $699, while the average apartment in Waco costs $1,460.

What types of apartments are the cheapest in Waco?

Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 376 regular apartments in Waco that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

How do the prices of cheap apartments compare to the average apartment in Waco?

Cheap apartments in Waco have an average cost of $357 which is $1,103 cheaper than the average rent for all rentals in Waco.

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

decorative image for A Texas Local Experts Guide to 10 Top Affordable Neighborhoods for Renting in Waco, TX article

A Texas Local Experts Guide to 10 Top Affordable Neighborhoods for Renting in Waco, TX

Written by: Rhonda R Fletcher

Hi, I'm Rhonda, your ApartmentHomeLiving.com Local Expert for Waco, Texas. I've lived in Central Texas for over 25 years and have seen a lot of change and growth in the Waco area.

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A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back

Written by: Lauren Harrington

I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.

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Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts

Written by: Lauren Harrington

This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

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

Written by: Lauren Harrington

This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.