
Cheap Apartments for Rent in the University Neighborhood of Waco, TX from $400 (73 Rentals)
Search the lowest-cost Apartments available for rent right now in the University area of Waco.


2824 Gorman Ave

Waco Apartments

2021 Austin Ave

Costa Esmeralda

Brookview Hills

Total Monthly Price
The Cove on 21st

Historic Lofts of Waco High

The Enclave at the Stadium

2601 Fort Ave, Unit 4
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.

Carriage House

Abbey Glenn Apartments

RIVERCREST

Total Monthly Price
Tinsley Place

1714 Ethel Ave

1716 Ethel Ave

2632 Colonial Ave

Franklin Place

1226 Baylor Ave, Unit 121

1915 S 10th St, Unit 110
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.

Total Monthly Price
Tuscany Ranch Apartments

Total Monthly Price
Bend at New Road

615 N 23rd St

Total Monthly Price
Roots at Waco

Total Monthly Price
The Residence at CTM

1327 Speight Ave

2324 Sanger Ave

2714 Windsor Ave

2721 Morrow Ave

1216 Tennessee Ave, Unit B
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.

1318 James Ave

2302 S 3rd St

1326 Park Ave

The Commodores

Twenty Twenty Cottages

Valley Mills Apartments

Bear Landing - Waco Trio

The Belmont Lofts

South Terrace

University Place Apartments
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.

St. James Place

Ambassador Residence

Pecan Park

Peppertree

1421 S 12th St

19Eleven

Behrens Lofts

1906 Bosque Blvd

1214 Baylor Ave

Bear Colony
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.
University, Waco, TX Local Guide

How much does it cost to rent an apartment in University?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| University Studio Apartments | $1,556 | $1,430 | $1,594 |
| University 1 Bedroom Apartments | $1,259 | $529 | $3,395 |
| University 2 Bedroom Apartments | $1,560 | $789 | $4,027 |
| University 3 Bedroom Apartments | $1,526 | $659 | $4,849 |
| University 4 Bedroom Apartments | $1,072 | $499 | $2,300 |
Browse Apartments in this Neighborhood
There are currently 73 rentals with your search options within a 2 mile radius of the University Neighborhood of Waco, TX.
See all Apartments in WacoExplore Waco
University, Waco, TX Local Guide
- Nearby Waco neighborhoods
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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 Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Elevate | C2 | 3BR,2BA | $659 |
| LL Sams Apartments | Standard Loft - 4 BDR, 2 BTH | ONE LEFT | 4BR,2BA | $699 |
| University Edge Waco | Plan E | 4BR,4BA | $745 |
| Costa Esmeralda | 1BR/1BA | 1BR,1BA | $902 |
| Brookview Hills | 1 Bedroom, 1 Bathroom | 1BR,1BA | $909 |
| Historic Lofts of Waco High | 1 Bedroom | 1BR,1BA | $941 |
| The Cove on 21st | B1 | 2BR,2BA | $1,018 |
| Carriage House | 672 sq ft 1 bed | 1BR,1BA | $1,050 |
| Tinsley Place | Union 1BR/1BA | 1BR,1BA | $1,098 |
| The Bruin | A1-R | 1BR,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 Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Columbus Heights | Townhome | 2BR,2.5BA | $1.41 |
| The Residence at CTM | B1 Stetson | 2BR,2BA | $1.25 |
| University Edge Waco | Plan B | 2BR,2BA | $0.82 |
| The Enclave at the Stadium | C1 | 3BR,2BA | $1.31 |
| The Cove on 21st | B2U | 2BR,2BA | $1.52 |
| Historic Lofts of Waco High | 1 Bedroom | 1BR,1BA | $1.19 |
| RIVERCREST | A3 | 1BR,1BA | $1.58 |
| Brookview Hills | 1 Bedroom, 1 Bathroom | 1BR,1BA | $1.25 |
| Costa Esmeralda | 1BR/1BA | 1BR,1BA | $1.34 |
| Carriage House | 672 sq ft 1 bed | 1BR,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.
Read Article10 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.
Read ArticleDon'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.
Read ArticleThe 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.
Read ArticleCash 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.
Read ArticleTop 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
Read ArticleQuick 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.
Pet Friendly LifestyleUniversity, Waco, TX
Ranked #1
Among cities in Texas for Apartment listings with Pet Friendly Amenities.
Pet Friendliness Lifestyle Score
4.0Pet Friendly
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

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.

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.

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.

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.