Cheap Apartments for Rent in the University Neighborhood of Waco, TX from $400 (73 Rentals)

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Search the lowest-cost Apartments available for rent right now in the University area of Waco.

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The Cove on 21st
$918 - $1,308
Total Monthly Price

Total Monthly Price

Base Rent
$918 - $1,308
Total Monthly Price
$918 - $1,308
1 to 3 Bedroom Apartments Available Now

The Cove on 21st

2425 S 21st StWaco, TX 76706
Corporate Housing
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  • Customer Reviewed
  • 3D Tour

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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Tinsley Place
Rent Specials
$1,098 - $3,136
Total Monthly Price

Total Monthly Price

Base Rent
$1,098 - $3,136
Total Monthly Price
$1,098 - $3,136
1 to 3 Bedroom Apartments Available Now

Tinsley Place

715 Cleveland AveWaco, TX 76706
Corporate Housing
  • Verified
  • Customer Reviewed
  • 3D Tour

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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Bend at New Road
$1,249 - $1,809
Total Monthly Price

Total Monthly Price

Base Rent
$1,249 - $1,809
Total Monthly Price
$1,249 - $1,809
1 to 2 Bedroom Apartments Available Now

Bend at New Road

3000 S New RdWaco, TX 76706
Eco-Friendly
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Roots at Waco
Rent Specials
$1,275 - $1,748
Total Monthly Price

Total Monthly Price

Base Rent
$1,275 - $1,748
Total Monthly Price
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1 to 3 Bedroom Apartments Available Now

Roots at Waco

3001 S New RdWaco, TX 76706
Corporate Housing
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The Residence at CTM
Rent Specials
$1,279 - $2,094
Total Monthly Price

Total Monthly Price

Base Rent
$1,279 - $2,094
Total Monthly Price
Varies
1 to 3 Bedroom Apartments Available Now

The Residence at CTM

5210 Bagby AveWaco, TX 76711
Corporate Housing
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  • Customer Reviewed
  • 3D Tour

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 Commodores
1 Bedroom Apartments

The Commodores

1326 S 11th StWaco, TX 76706
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The Belmont Lofts
1 to 2 Bedroom Apartments

The Belmont Lofts

625 S 5th StWaco, TX 76706
  • Utilities Included
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South Terrace
1 to 4 Bedroom Apartments

South Terrace

2616 S 12th StWaco, TX 76706

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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St. James Place
2 Bedroom Apartments

St. James Place

1226 James AveWaco, TX 76706
  • Utilities Included
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Ambassador Residence
1 Bedroom Apartments

Ambassador Residence

508 N 38th StWaco, TX 76710
Senior Living
  • Utilities Included
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Pecan Park
1 Bedroom Apartments

Pecan Park

1725 Sanger AveWaco, TX 76707
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Peppertree
1 to 2 Bedroom Apartments

Peppertree

3309 Robinson DrWaco, TX 76706
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19Eleven
1 to 4 Bedroom Apartments

19Eleven

1911 S 8th StWaco, TX 76706
Student Housing
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Behrens Lofts
1 to 3 Bedroom Apartments

Behrens Lofts

219 S 4thWaco, TX 76701
  • Utilities Included
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Bear Colony
2 Bedroom Apartments

Bear Colony

1925 S 12th StWaco, TX 76706

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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University, Waco, TX Local Guide

Cheapest Available University Apartments for Rent

 

The cheapest available apartment rental in the University area of Waco, TX is a 3 Beds unit found at Elevate priced from $659. LL Sams Apartments has the second lowest priced unit, which is a 4 Beds apartment currently listed from $699. Here are the most affordable University apartments for rent in Waco, TX:

Apartment ListingModel NameBed/BathPriced From
ElevateC23BR,2BA$659
LL Sams ApartmentsStandard Loft - 4 BDR, 2 BTH | ONE LEFT4BR,2BA$699
University Edge WacoPlan E4BR,4BA$745
Costa Esmeralda1BR/1BA1BR,1BA$902
Brookview Hills1 Bedroom, 1 Bathroom1BR,1BA$909
Historic Lofts of Waco High1 Bedroom1BR,1BA$941
The Cove on 21stB12BR,2BA$1,018
Carriage House672 sq ft 1 bed1BR,1BA$1,050
Tinsley PlaceUnion 1BR/1BA1BR,1BA$1,098
The BruinA1-R1BR,1BA$1,099

Best Value Apartments for Rent in University, TX

As of May 05, 2026 the best value apartment in the University area is the $1.41 price per square foot Townhome Model at Columbus Heights in the in the Downtown Waco neighborhood starting from $1,613. The second greatest value University apartment is the B1 Stetson Model at The Residence at CTM starting at $1,358 with a $1.25 price per square foot in the Alta Vista neighborhood. Here is today’s list of the best values for University apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Columbus HeightsTownhome2BR,2.5BA$1.41
The Residence at CTMB1 Stetson2BR,2BA$1.25
University Edge WacoPlan B2BR,2BA$0.82
The Enclave at the StadiumC13BR,2BA$1.31
The Cove on 21stB2U2BR,2BA$1.52
Historic Lofts of Waco High1 Bedroom1BR,1BA$1.19
RIVERCRESTA31BR,1BA$1.58
Brookview Hills1 Bedroom, 1 Bathroom1BR,1BA$1.25
Costa Esmeralda1BR/1BA1BR,1BA$1.34
Carriage House672 sq ft 1 bed1BR,1BA$1.56

A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back

Learn the property manager's true secrets to a zero-deduction move-out. Use this step-by-step guide on documentation, cleaning, and lease-reading to reclaim your security deposit.

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10 Hidden Costs of Renting You Should Budget for Before Signing a Lease

Avoid financial stress when renting. Learn about the 10 most common hidden costs—from pet fees to utilities—you must budget for before you sign a lease.

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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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Pet Friendly Lifestyle
University, Waco, TX

Ranked #1

Among cities in Texas for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Best Local Schools in
University, Waco, TX

School data provided by Great Schools

Lifestyle Ratings

Our team of engineers and researchers is proud to bring you our detailed rental search system called 'Lifestyle ratings', composed of rentals in cities across the United States, including Waco. Lifestyle Ratings show you the best fit for your needs and interests. This takes in many factors including filtering automatically for the best outdoor access, luxury housing options, transit availability, pet-friendly communities, apartment complexes for the kids, and much more. These search options are in the site filters at the top of this page.

Frequently Asked Questions about Cheap University Apartments

What is the price of a cheap apartment in University?

The cheapest apartment in University is Costa Esmeralda which is listed at $902, while the average apartment in University costs $1,557.

What types of apartments are the cheapest in University?

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 University 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 University?

Cheap apartments in University have an average cost of $404 which is $1,153 cheaper than the average rent for all rentals in University.

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.

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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.

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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.