Cheap Homes for Rent in Waco, TX from $500 (51 Rentals)

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Search the lowest-cost Homes 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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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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property at 3717 N 23rd St

$1,200

Total Monthly Price

Total Monthly Price

Base Rent
$1,200
Total Monthly Price
$1,200

2 Bedroom, 1 Bath Home for Rent

Available Now

3717 N 23rd St

WacoTX76708

Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

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Waco, TX Local Guide

Cheapest Neighborhoods for Apartments in Waco, TX

Pricing Updated: 02/18/2026

Current apartment rentals in the Waco, TX area range in price from $366 to $5,652 with an overall median price of $1,748. The three Waco neighborhoods with the lowest median rent pricing are Oakwood at $655, Timbercrest at $655, and Kendrick at $650. 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$1,277$65546
Timbercrest$1,337$65580
Kendrick$1,350$650178
North Waco$1,435$36651
Carver$1,471$366131
Landon Branch$1,472$36689
North End$1,472$36642
Brook-Oaks$1,517$366136
East Riverside$1,517$366194
South End$1,517$655172

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
Brazos Park ApartmentsA-1b1bs1BR,1BA$779
The Meadows ApartmentsOne Bedroom1BR,1BA$795
The EdmondThe ArmstrongStudio,1BA$799
PECAN RIDGE-WACOA21BR,1BA$832
Prime Properties Waco1Bed-1Bath1BR,1BA$850
Sandstone1 Bed, 1 Bath A (80% Income Restricted)1BR,1BA$861

Best Value Apartments for Rent in Waco, TX

As of February 18, 2026 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 C1 Wrangler Model at The Residence at CTM starting at $1,501 with a $1.18 price per square foot in the Alta Vista 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
The Residence at CTMC1 Wrangler3BR,2BA$1.18
Woodway Park Condominiums2 Bed Townhome2BR,1.5BA$1.00
Park Place ApartmentsTwo Bedroom2BR,2BA$1.04
MeadowParkTownhome2BR,2.5BA$1.14
University Edge WacoPlan B2BR,2BA$0.82
Lake Air Green Apartments1 Bed, 1 Bath1BR,1BA$1.18
Historic Lofts of Waco High1 Bedroom1BR,1BA$1.16
Prime Properties Waco1Bed-1Bath1BR,1BA$1.21
The Meadows ApartmentsOne Bedroom1BR,1BA$1.24

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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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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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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Remember the 3 Rules of Real Estate:
Location, Location, Location!

Explore Waco, TX Rentals by Map

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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 315 Apartments for Rent in Waco, TX with pricing that ranges from $366 to $5,652. There are also 328 Single Family Homes for rent, Condos, and Townhome rentals currently available in Waco ranging from $569 to $9,000.

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 $569 to $9,000 with an average monthly rent of $1,913.

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 $5,652, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,125 to $3,000. Four Bedroom Single-Family rentals are also available starting from $569 and Four Bedroom Apartments start at $499.

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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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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Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.

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18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

Written by: Lauren Harrington

Renting your next home can feel thrilling and overwhelming at the same time.

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A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment

Written by: Bob Mallory

Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.