Cheap 3 Bedroom Apartments for Rent in the Downtown Waco Neighborhood of Waco, TX from $659 (5 Rentals)

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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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Behrens Lofts
3 Bedroom Apartments

Behrens Lofts

219 S 4thWaco, TX 76701
  • Utilities Included
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The Centre
3 Bedroom Apartments

The Centre

1818 S 7th StWaco, TX 76706
Student Housing

Renting with Roommates: Realistic Expectations for Shared Lease

Sharing a lease? Learn how to set clear expectations with your roommates on routines, bills, and cleaning to ensure a successful and peaceful shared living arrangement.

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Frequently Asked Questions about Cheap Downtown Waco Apartments

What is the price of a cheap apartment in Downtown Waco?

The cheapest apartment in Downtown Waco is Elevate which is listed at $659, while the average apartment in Downtown Waco costs $1,592.

What types of apartments are the cheapest in Downtown 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 18 regular apartments in Downtown 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 Downtown Waco?

Cheap apartments in Downtown Waco have an average cost of $477 which is $1,115 cheaper than the average rent for all rentals in Downtown 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.

decorative image for A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back article

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.

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

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.

decorative image for What Does “Rent Burdened” Mean? How Much Rent Is Too Much article

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.