Cheap Homes for Rent in Waco, TX from $400 (53 Rentals)

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

Waco's Best Affordable Neighborhoods

Learn about Waco and the best places to live with original content written by our Texas Local Expert Rhonda R Fletcher

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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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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.

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How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.

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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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Waco, TX Local Guide

Cheapest Neighborhoods for Apartments in Waco, TX

Pricing Updated: 08/19/2026

Current apartment rentals in the Waco, TX area range in price from $509 to $4,027 with an overall median price of $1,269. The three Waco neighborhoods with the lowest median rent pricing are Oakwood at $1,026, Brookview at $1,094, and Heart of Texas at $1,106. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Waco Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Oakwood$1,026$73917
Brookview$1,094$90020
Heart of Texas$1,106$79566
Landon Branch$1,110$64969
Parkdale$1,144$79563
North End$1,168$64937
North Waco$1,168$50940
Timbercrest$1,188$73947
Carver$1,200$509110
Brook-Oaks$1,209$50989

Cheapest Available Waco Apartments for Rent

 

The cheapest available apartment rental in Waco, TX is a Studio unit found at Eagle Crest Apartments in the Carver neighborhood priced from $649. University Club Apartments in the Carver neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $649. Here is today’s list of the most affordable Waco apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Eagle Crest ApartmentsEfficiency/StudioStudio,1BA$649
University Club ApartmentsOne Bedroom1BR,1BA$649
Z - South Terrace1x11BR,1BA$697
University Edge WacoPlan E4BR,4BA$745
Rambler Heights1 Bedroom1BR,1BA$750
LL Sams ApartmentsStandard Loft - 4 BDR, 2 BTH | ONE LEFT4BR,2BA$769
Brazos Park ApartmentsA-1b1bs1BR,1BA$779
The Meadows ApartmentsOne Bedroom1BR,1BA$803
Car Mel Apartments1-1 Standard1BR,1BA$865
101 ElmStudioStudio,1BA$900

Best Value Apartments for Rent in Waco, TX

As of August 19, 2026 the best value apartment in the Waco area is the $1.00 price per square foot 2 Bed Townhome Model at Woodway Park Condominiums in the in the Parkdale neighborhood starting from $1,200. The second greatest value Waco apartment is the B6-R Model at The Bruin starting at $1,289 with a $1.08 price per square foot in the South End 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.
Woodway Park Condominiums2 Bed Townhome2BR,1.5BA$1.00
The BruinB6-R2BR,2.5BA$1.08
The Edmond Apartments2X1.52BR,1.5BA$1.05
Lake Air Green Apartments2 Bed, 2 Bath2BR,2BA$1.04
ElevateC13BR,3BA$0.62
University Edge WacoPlan B2BR,2BA$0.82
Barrons Branch IIB12BR,2BA$0.98
LL Sams ApartmentsStandard Loft - 2 BDR, 1 BTH | VERY LIMITED2BR,1BA$0.95
Rambler Heights1 Bedroom1BR,1BA$1.10
Z - South Terrace1x11BR,1BA$1.10

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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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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Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University

From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.

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Quick Rent Budget Calculator

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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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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

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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 309 Apartments for Rent in Waco, TX with pricing that ranges from $509 to $4,027. There are also 237 Single Family Homes for rent, Condos, and Townhome rentals currently available in Waco ranging from $475 to $7,495.

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 $475 to $7,495 with an average monthly rent of $1,656.

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 $659 to $3,958, while Three Bedroom Homes, Condos, and Townhomes for rent range from $975 to $3,400. Four Bedroom Single-Family rentals are also available starting from $500 and Four Bedroom Apartments start at $509.

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

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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.

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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.

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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.

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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.