Cheap Apartments for Rent in Waco, TX from $300 (77 Rentals)

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

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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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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property at 104 Faye Dr

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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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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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
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The Belmont Lofts
1 to 2 Bedroom Apartments

The Belmont Lofts

625 S 5th StWaco, TX 76706
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St. James Place
2 Bedroom Apartments

St. James Place

1226 James AveWaco, TX 76706
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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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Waco, TX Local Guide

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Written By:
Staff Writer
Local Guide Expert

Cheapest Neighborhoods for Apartments in Waco, TX

Pricing Updated: 11/26/2025

Current apartment rentals in the Waco, TX area range in price from $366 to $4,584 with an overall median price of $1,917. The three Waco neighborhoods with the lowest median rent pricing are North Waco at $366, Oakwood at $599, and Timbercrest at $599. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Waco Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
North Waco$1,275$36643
Oakwood$1,311$59963
Timbercrest$1,336$59984
North End$1,387$36638
Landon Branch$1,397$36676
Parkdale$1,444$69563
Carver$1,471$366111
Brook-Oaks$1,517$366115
East Riverside$1,517$366185
South End$1,517$599156

Cheapest Available Waco Apartments for Rent

 

The cheapest available apartment rental in Waco, TX is a 3 Beds unit found at Elevate in the Carver neighborhood priced from $659. Eagle Crest Apartments in the Carver neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $679. Here is today’s list of the most affordable Waco apartments for rent:

Apartment ListingModel NameBed/BathPriced From
ElevateC23BR,2BA$659
Eagle Crest ApartmentsEfficiency/StudioStudio,1BA$679
LL Sams ApartmentsStandard Loft - 4 BDR, 2 BTH4BR,2BA$699
University Edge WacoPlan E4BR,4BA$745
University Club ApartmentsTwo Bedroom Small2BR,1BA$749
Brazos Park ApartmentsB-1b1bm1BR,1BA$749
The Meadows ApartmentsOne Bedroom1BR,1BA$795
Legacy Ridge1x11BR,1BA$795

Best Value Apartments for Rent in Waco, TX

As of November 26, 2025 the best value apartment in the Waco area is the $1.12 price per square foot Spacious Renovated 3/2 at Allen Place - Walk to... Model at Allen Place in the in the South End neighborhood starting from $1,450. The second greatest value Waco apartment is the 2 Bed 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.
Allen PlaceSpacious Renovated 3/2 at Allen Place - Walk to...3BR,2BA$1.12
Park Place Apartments2 Bed Townhome2BR,2.5BA$1.00
Woodway Park Condominiums2 Bed Townhome2BR,1.5BA$1.00
MeadowParkTownhome2BR,2.5BA$1.14
University Edge WacoPlan B2BR,2BA$0.82
Lake Air Green Apartments1 Bed, 1 Bath1BR,1BA$1.18
Legacy Ridge1x11BR,1BA$0.94
Waco Apartments2 Bed 1 Bath2BR,1BA$1.10
Prime Properties Waco1Bed-1Bath1BR,1BA$1.21
University Club ApartmentsTwo Bedroom Two Bath2BR,2BA$1.15

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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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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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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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 #204

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 a cheap apartment in Waco?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Waco is under $795.

What is the price of a cheap apartment in Waco?

The cheapest apartment in Waco is Brazos Park Apartments which is listed at $749, while the average apartment in Waco costs $1,917.

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 624 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 $402 which is $1,515 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.

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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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Apartment Common Area Rules: What Renters Need to Know

Written by: Christine Leonard, Esq.

Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.

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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate! 

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The Rental Move-In Inspection Checklist: A Guide for Renters

Written by: Trey Huguley

The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.