Cheap Apartments for Rent in Waco, TX from $500 (67 Rentals)

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

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 Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.

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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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The Commodores
1 Bedroom Apartments

The Commodores

1326 S 11th StWaco, TX 76706
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1400 Woodbine St
1 Bedroom Apartments

1400 Woodbine St

1400 Woodbine StWaco, TX 76705
  • Utilities Included

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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CarMel
1 Bedroom Apartments

CarMel

3638 W Waco DrWaco, TX 76710
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St. James Place
2 Bedroom Apartments

St. James Place

1226 James AveWaco, TX 76706
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Pecan Park
1 Bedroom Apartments

Pecan Park

1725 Sanger AveWaco, TX 76707
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Ambassador Residence
1 Bedroom Apartments

Ambassador Residence

508 N 38th StWaco, TX 76710
Senior Living
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Peppertree
1 to 2 Bedroom Apartments

Peppertree

3309 Robinson DrWaco, TX 76706
  • Utilities Included

Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

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Northwind Apartments
1 Bedroom Apartments

Northwind Apartments

5111 Interstate 35 NWaco, TX 76705
  • Utilities Included
Showing Results 1-50, Page 1 of 2

Waco, TX Local Guide

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Written By:
Staff Writer
Local Guide Expert

Cheapest Neighborhoods for Apartments in Waco, TX

Pricing Updated: 08/04/2025

Current apartment rentals in the Waco, TX area range in price from $595 to $4,419 with an overall median price of $1,532. The three Waco neighborhoods with the lowest median rent pricing are Brookview at $595, Landon Branch at $595, and North End at $595. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Waco Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Brookview$1,199$59533
Landon Branch$1,212$595125
North End$1,225$59593
North Waco$1,225$59587
Timbercrest$1,325$59944
Heart of Texas$1,422$59598
Oakwood$1,431$59920
Carver$1,470$59591
Parkdale$1,495$59588
Brook-Oaks$1,517$59591

Cheapest Available Waco Apartments for Rent

 

The cheapest available apartment rental in Waco, TX is a 1 Bed unit found at South Terrace in the South End neighborhood priced from $658. Eagle Crest Apartments in the Carver neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $659. Here is today’s list of the most affordable Waco apartments for rent:

Apartment ListingModel NameBed/BathPriced From
South Terrace1x11BR,1BA$658
Eagle Crest ApartmentsEfficiency/StudioStudio,1BA$659
University Club ApartmentsOne Bedroom1BR,1BA$699
Heritage SquareA1BR,1BA$742
Brazos Park ApartmentsB-1b1bm1BR,1BA$749
Historic Lofts at Waco High1 Bedroom1BR,1BA$750
The Meadows ApartmentsOne Bedroom1BR,1BA$795
Prime Properties Waco1Bed-1Bath1BR,1BA$799
The Cove on 21stA11BR,1BA$850
Azur2 Bed, 1 Bath2BR,1BA$866

Best Value Apartments for Rent in Waco, TX

As of August 04, 2025 the best value apartment in the Waco area is the $0.87 price per square foot The Ranger Model at The Edmond in the in the Parkdale neighborhood starting from $1,394. The second greatest value Waco apartment is the Two Bedroom Townhome Model at Park Place Apartments starting at $1,300 with a $1.00 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.
The EdmondThe Ranger3BR,3BA$0.87
Park Place ApartmentsTwo Bedroom Townhome2BR,2.5BA$1.00
Woodway Park CondominiumsTwo Bedroom Townhome2BR,1.5BA$1.00
MeadowParkTownhome2BR,2.5BA$1.14
The BruinB4-R2BR,2BA$1.12
2425 Parrott Ave, Unit 2425 Parrott2425 Parrott Ave2BR,1BA$0.99
Historic Lofts at Waco High1 Bedroom1BR,1BA$0.94
Azur2 Bed, 1 Bath2BR,1BA$1.15
Prime Properties Waco1Bed-1Bath1BR,1BA$1.13
South Terrace1x11BR,1BA$1.07

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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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.

Pet Friendly Lifestyle
Waco, TX

Ranked #105

Among cities in Texas for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

2.5
Pet Friendly

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

Explore Waco, TX Rentals by Map

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See the most popular apartments and homes in Waco, TX

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Getting Around Waco, TX

Walk Score®

45 / 100

Car-Dependent

Most errands require a car

Bike Score®

42 / 100

Somewhat Bikeable

Minimal bike infrastructure

What Are Walk Score®, Transit Score®, and Bike Score® Ratings?

  • Walk Score® measures the walkability of any address.
  • Transit Score® measures access to public transit.
  • Bike Score® measures the bikeability of any address.

Waco, TX Area Reviews

  • Parks
  • Entertainment
  • Local Vibes
  • Restaurants
  • Location
  • Traffic
  • Public Transportation
  • Outdoor Access
  • Cost of Living
  • Safety

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 South Terrace which is listed at $658, while the average apartment in Waco costs $1,532.

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 142 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 $334 which is $1,198 cheaper than the average rent for all rentals in Waco.

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.

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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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Written by: Christine Leonard, Esq.

Hard truth. Moving is never easy. I’ve done it all – from local moves to cross-country relocations From packing to unpacking the last box, I have found moving to be an exhausting, expensive and stressful experience every time.

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

Written by: Christine Leonard, Esq.

Throughout the day, think about all the times that you have to pay for something. So many of us reach automatically for a credit card or even our phone for a quick payment.

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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

Written by: Cheryl Bowman

A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.