615 N 5th St
WacoTX76701
Cheap Apartments for Rent in the Downtown Waco Neighborhood of Waco, TX from $509 (21 Rentals)
Search the lowest-cost Apartments available for rent right now in the Downtown Waco area of Waco.
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$900 - $1,950Studio to 2 Bedroom Apartments Available Now
101 Elm
101 Elm StWaco, TX 76704
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Rent Specials
$959 - $1,3071 to 3 Bedroom Apartments Available Now
Historic Lofts of Waco High
815 Columbus AveWaco, TX 76701
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$981 - $1,1681 to 2 Bedroom Apartments Available Now
River Park
1001 N Martin Luther King Jr BlvdWaco, TX 76704
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$1,050 - $1,3951 to 2 Bedroom Apartments Available Now
Carriage House
1923 Austin AveWaco, TX 76701
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$1,100 - $1,4001 to 3 Bedroom Apartments Available Sep 28
Abbey Glenn Apartments
700 S 4th StWaco, TX 76706
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$1,255 - $3,280
Total Monthly Price
1 to 3 Bedroom Apartments Available NowTotal Monthly Price
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$1,255 - $3,280
Total Monthly Price
$1,255 - $3,280
Tinsley Place
715 Cleveland AveWaco, TX 76706
Downtown Waco - One of the Best Affordable Neighborhoods in Waco
Named as one of the Best Affordable Neighborhoods to rent in Waco by our Local Expert for Texas, Rhonda R Fletcher. See how it ranks!
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$1,300 - $2,1661 to 2 Bedroom Apartments Contact Us For Availability
Franklin Place
600 Franklin AveWaco, TX 76701
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1 Bedroom Apartments
The Commodores
1326 S 11th StWaco, TX 76706
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1 to 2 Bedroom Apartments
The Belmont Lofts
625 S 5th StWaco, TX 76706
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1 Bedroom Apartments
Bear Landing - Waco Trio
1408 S 10th StWaco, TX 76706
1906 Austin Ave
WacoTX76701
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Studio to 3 Bedroom Apartments
University Place Apartments
1624 S 5th StWaco, TX 76706
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1 to 3 Bedroom Apartments
Behrens Lofts
219 S 4thWaco, TX 76701
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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2 to 3 Bedroom Apartments
The Centre
1818 S 7th StWaco, TX 76706
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2 Bedroom Apartments
18 Hundred Apartments
1800 S 5th StWaco, TX 76706
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1 to 3 Bedroom Apartments
Barrons Branch II
817 Colcord AveWaco, TX 76707
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1 to 2 Bedroom Apartments
The Bruin
1300 S 11th StWaco, TX 76706
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1 to 2 Bedroom Apartments
The Madison
1307 Austin AveWaco, TX 76701
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1 to 3 Bedroom Apartments
Summit at the Villages at Waco
1100 N 6th StWaco, TX 76707
909 N 10th St
WacoTX76707
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.
Showing Results 1-21, Page 1 of 1
Downtown Waco, Waco, TX Local Guide
How much does it cost to rent an apartment in Downtown Waco?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Downtown Waco Studio Apartments | $1,407 | $900 | $1,747 |
| Downtown Waco 1 Bedroom Apartments | $1,182 | $529 | $3,435 |
| Downtown Waco 2 Bedroom Apartments | $2,044 | $1,139 | $4,027 |
| Downtown Waco 3 Bedroom Apartments | $1,526 | $659 | $3,280 |
| Downtown Waco 4 Bedroom Apartments | $549 | $509 | $579 |
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
Browse Apartments in this Neighborhood
There are currently 21 rentals with your search options within a 1 mile radius of the Downtown Waco Neighborhood of Waco, TX.
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Cheapest Available Downtown Waco Apartments for Rent
The cheapest available apartment rental in the Downtown Waco area of Waco, TX is a Studio unit found at 101 Elm priced from $900. Historic Lofts of Waco High has the second lowest priced unit, which is a 1 Bed apartment currently listed from $959. Here are the most affordable Downtown Waco apartments for rent in Waco, TX:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| 101 Elm | Studio | Studio,1BA | $900 |
| Historic Lofts of Waco High | 1 Bedroom | 1BR,1BA | $959 |
| Carriage House | 672 sq ft 1 bed | 1BR,1BA | $1,050 |
| Barrons Branch II | B1 | 2BR,2BA | $1,154 |
| River Park | 2 Bedroom 2 Bath | 2BR,2BA | $1,168 |
Best Value Apartments for Rent in Downtown Waco, TX
As of August 30, 2026 the best value apartment in the Downtown Waco area is the $0.58 price per square foot D1 Premium Model at The Den in the in the South End neighborhood starting from $835. The second greatest value Downtown Waco apartment is the 2 Bedroom 2 Bath Model at 101 Elm starting at $1,850 with a $1.54 price per square foot in the Carver neighborhood. Here is today’s list of the best values for Downtown Waco apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| The Den | D1 Premium | 4BR,4BA | $0.58 |
| 101 Elm | 2 Bedroom 2 Bath | 2BR,2BA | $1.54 |
| Barrons Branch II | C1 | 3BR,2BA | $1.21 |
| Elevate | C1 | 3BR,3BA | $0.62 |
| River Park | 2 Bedroom 2 Bath | 2BR,2BA | $1.12 |
| 300 Clay Ave | 1.5 BD/1B | 1BR,1BA | $1.91 |
| 222 Clay Court | 1 Bedroom Third Floor-with Porch | 1BR,1BA | $1.84 |
| Historic Lofts of Waco High | 1 Bedroom | 1BR,1BA | $1.21 |
| Carriage House | 672 sq ft 1 bed | 1BR,1BA | $1.56 |
| West Campus Lofts | P2 1 Bed | 1BR,1BA | $2.34 |
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 Historic Lofts of Waco High which is listed at $959, while the average apartment in Downtown Waco costs $1,291.
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 57 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 $560 which is $731 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
Top Neighborhoods to Rent Near Major Colleges and Universities in Waco
Written by: Rhonda R Fletcher
Hi, I'm Rhonda, your ApartmentHomeLiving.com Local Expert for Waco, Texas. Waco is a fun town (even for Longhorns). There are some great diners and beautiful landmarks.
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.
Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags
Written by: Robin Stewart
Renters want to find a great apartment, the right place for them, one that checks all the boxes of location, rental cost, amenities, safety, and more.
First Apartment Regrets: Real Renters Share What They'd Do Differently
Written by: Robin Stewart
Hindsight is 20/20. Live and Learn. With age comes wisdom. We’re familiar with all those expressions, and all of them apply to lessons first-time renters learn.