Cheap Homes for Rent in Waco, TX from $400 (72 Rentals)

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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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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 1421 S 12th St

1421 S 12th St

WacoTX76706

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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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

Cheapest Neighborhoods for Apartments in Waco, TX

Pricing Updated: 11/17/2025

Current apartment rentals in the Waco, TX area range in price from $569 to $4,200 with an overall median price of $3,429. The three Waco neighborhoods with the lowest median rent pricing are Kendrick at $1,200, Richland Hills at $1,395, and West Waco at $995. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Waco Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Kendrick$1,750$1,2004
Richland Hills$2,400$1,3955
West Waco$2,995$99513
Parkdale$3,145$56914
Carver$3,200$59584
Heart of Texas$3,200$59586
Landon Branch$3,200$595101
North End$3,200$59578
North Waco$3,200$59578
Alta Vista$3,375$99557

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
Avila1 Bed, 1 Bath (60% Income Restricted)1BR,1BA$703
University Edge WacoPlan E4BR,4BA$745
Brazos Park ApartmentsB-1b1bm1BR,1BA$749
University Club ApartmentsTwo Bedroom Small2BR,1BA$749
The Meadows ApartmentsOne Bedroom1BR,1BA$795

Best Value Apartments for Rent in Waco, TX

As of November 17, 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
Waco Apartments3 Bedroom 1 bath3BR,1BA$1.05
Lake Air Green Apartments1 Bed, 1 Bath1BR,1BA$1.18
Historic Lofts at Waco High1 Bedroom1BR,1BA$1.16
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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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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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 Waco

What type of rentals are currently available in Waco?

There are currently 305 Apartments for Rent in Waco, TX with pricing that ranges from $366 to $3,975. There are also 365 Single Family Homes for rent, Condos, and Townhome rentals currently available in Waco ranging from $450 to $10,000.

What is the current price range for Rental Homes in Waco?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Waco ranges from $450 to $10,000 with an average monthly rent of $2,223.

How much are larger Three and Four Bedroom Rentals in Waco?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Waco range from $505 to $3,637, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,195 to $3,000. Four Bedroom Single-Family rentals are also available starting from $1,450 and Four Bedroom Apartments start at $499.

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.