Cheap Apartments for Rent in the University Neighborhood of Waco, TX from $500 (42 Rentals)

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

property at 608 N 30th St

$600

Total Monthly Price

Total Monthly Price

Base Rent
$600
Total Monthly Price
$600

Studio, 1 Bath Home for Rent

Available Now

608 N 30th St

WacoTX76707
property at 615 N 5th St

$825

1 Bedroom Rentals

Available Sep 2

615 N 5th St

WacoTX76701
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The Cove on 21st
$918 - $1,268
Total Monthly Price

Total Monthly Price

Base Rent
$918 - $1,268
Total Monthly Price
$918 - $1,268
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

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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The Commodores
1 Bedroom Apartments

The Commodores

1326 S 11th StWaco, TX 76706

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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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
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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

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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Pecan Park
1 Bedroom Apartments

Pecan Park

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

Peppertree

3309 Robinson DrWaco, TX 76706
  • Utilities Included
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Prime Properties Waco
1 to 4 Bedroom Apartments

Prime Properties Waco

1800 Primrose DrWaco, TX 76706
Corporate Housing
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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

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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Bear Colony
2 Bedroom Apartments

Bear Colony

1925 S 12th StWaco, TX 76706
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The Centre
2 to 3 Bedroom Apartments

The Centre

1818 S 7th StWaco, TX 76706
Student Housing

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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Showing Results 1-42, Page 1 of 1

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 1 Bed unit found at South Terrace priced from $697. LL Sams Apartments has the second lowest priced unit, which is a 4 Beds apartment currently listed from $769. Here are the most affordable University apartments for rent in Waco, TX:

Apartment ListingModel NameBed/BathPriced From
South Terrace1x11BR,1BA$697
LL Sams ApartmentsStandard Loft - 4 BDR, 2 BTH | ONE LEFT4BR,2BA$769
The Cove on 21stA11BR,1BA$918
Historic Lofts of Waco High1 Bedroom1BR,1BA$959
Bear Colony2 Bed 2.5 Bath - $1000/month - Bear Colony2BR,2BA$1,000
The Enclave at the StadiumB12BR,2BA$1,012
Carriage House672 sq ft 1 bed1BR,1BA$1,050
RIVERCRESTA21BR,1BA$1,183
Brookview Hills2 Bedroom, 1 Bathroom Townhome2BR,1BA$1,209
Tinsley PlaceUnion 1BR/1BA1BR,1BA$1,244

Best Value Apartments for Rent in University, TX

As of August 17, 2026 the best value apartment in the University area is the $1.08 price per square foot B6-R Model at The Bruin in the in the South End neighborhood starting from $1,289. The second greatest value University apartment is the Townhome Model at Columbus Heights starting at $1,613 with a $1.41 price per square foot in the Downtown Waco 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.
The BruinB6-R2BR,2.5BA$1.08
Columbus HeightsTownhome2BR,2.5BA$1.41
ElevateC13BR,3BA$0.62
Station at Cottonwood CreekB1-TG2BR,2BA$1.48
Brookview Hills2 Bedroom, 1 Bathroom Townhome2BR,1BA$1.21
LL Sams ApartmentsStandard Loft - 2 BDR, 1 BTH | VERY LIMITED2BR,1BA$0.95
Abbey Glenn ApartmentsB22BR,2BA$1.50
Historic Lofts of Waco High1 Bedroom1BR,1BA$1.21
Carriage House672 sq ft 1 bed1BR,1BA$1.56
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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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
University, Waco, TX

Ranked #1

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

Pet Friendliness Lifestyle Score

3.5
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 South Terrace which is listed at $697, while the average apartment in University costs $1,395.

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 66 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 $385 which is $1,010 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 Top Neighborhoods to Rent Near Major Colleges and Universities in Waco article

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.

decorative image for First Apartment Regrets: Real Renters Share What They'd Do Differently article

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.

decorative image for Renters Insurance 101: What It Is, What It Covers, and Why You Need It article

Renters Insurance 101: What It Is, What It Covers, and Why You Need It

Written by: Robin Stewart

Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.