Waco, TX Rental Market Trends
Highlights
The average rent for an apartment in Waco is $988, a 2% increase compared to the previous year.
Average Rent in Waco, TX
| Average Rent | Y-o-Y Change | Average Apartment Size |
|---|---|---|
| $988 | 2% | 864 sq. ft. |
The average size for a Waco, TX apartment is 864 square feet, but this number varies greatly depending on unit type, with cheap and luxury alternatives for houses and apartments alike. Studio apartments are the smallest and most affordable, 1-bedroom apartments are closer to the average, while 2-bedroom apartments and 3-bedroom apartments offer a more generous square footage.
Waco, TX Apartment Rent Ranges
- < $5004%
- $501-$70021%
- $701-$1,00040%
- $1,001-$1,50025%
- $1,501-$2,0004%
- > $2,0006%
Waco, TX Occupied Housing Units
- Renter-occupied Households40%
- Owner-occupied Households59%
19,451 or 40% of the households in Waco, TX are renter-occupied while 28,599 or 59% are owner-occupied.
Waco, TX Rent Trends
| Average Rent | Nov / 2016 | Mar / 2017 | Jul / 2017 | Nov / 2017 | Mar / 2018 | Jul / 2018 | Nov / 2018 | Mar / 2019 | Jul / 2019 | Nov / 2019 | Feb / 2020 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Waco, TX | $955 | $961 | $956 | $955 | $958 | $952 | $952 | $969 | $972 | $977 | $988 |
| National | $1,340 | $1,337 | $1,368 | $1,371 | $1,374 | $1,408 | $1,417 | $1,422 | $1,458 | $1,466 | $1,468 |
Average Rent in Waco, TX By Neighborhood
| Neighborhood | Average Rent |
|---|---|
| Ridgewood Country Club | $752 |
| Richland Hills | $752 |
| Mountainview | $752 |
| Brookview-Heart of Texas | $752 |
| Landon Branch | $756 |
| Rock Creek | $770 |
| North Waco | $770 |
| North Lake Waco | $770 |
| Dean Highland | $770 |
| Cedar Ridge | $770 |
| Brook Oaks | $770 |
| Austin Ave | $785 |
| Kendrick | $792 |
| Timbercrest | $798 |
| Technology Village | $798 |
| Rogers Hill | $798 |
| Lacy-Lakeview | $798 |
| Hallsburg | $798 |
| Gholson | $798 |
| Chalk Bluff | $798 |
| Bellmead | $798 |
| Carver | $815 |
| East Riverside | $854 |
| Beverly Hills | $968 |
| University | $1,254 |
| Robinson | $1,306 |
| Oakwood | $1,306 |
| Baylor | $1,306 |
| Alta Vista | $1,306 |
| Brazos | $1,312 |
The most affordable neighborhoods in Waco are Brookview-Heart of Texas, where the average rent goes for $752/month, Mountainview, where renters pay $752/mo on average, and Richland Hills, where the average rent goes for $752/mo. If you’re looking for other great deals, check out the listings from Ridgewood Country Club ($752), Landon Branch ($756), and Brook Oaks ($770), where the asking prices are below the average Waco rent of $988/mo.
The most expensive neighborhoods in Waco are Oakwood ($1,306), Robinson ($1,306) and Brazos ($1,312).
The most popular neighborhood in Waco is Lacy-Lakeview, where there are 2 verified RENTCafé listings with an average rent of $798. Next up is Richland Hills, where apartments go for $752/month, followed by Baylor with $1,306 If you’re looking to rent in Waco’s most popular neighborhoods, make sure to also check out Beverly Hills, where renters pay $968 on average, and Brazos, where the average monthly rent is $1,312.
Waco | Rent Comparison by Neighborhood
Rent in Alta Vista is 66% higher than in Austin Ave
Alta Vista rent is 32% higher than Waco average
| Average Rent | $1,306 |
|---|
Austin Ave rent is 21% lower than Waco average
| Average Rent | $785 |
|---|
How Waco Compares to Other Cities
| Average Rent | Y-o-Y Change | |
|---|---|---|
| Houston | $1,118 | 2% |
| Dallas | $1,250 | 4% |
| Austin | $1,439 | 5% |
| San Antonio | $1,049 | 3% |
| Fort Worth | $1,128 | 3% |
| Waco | $988 | 2% |
| Woodway | $926 | 4% |
| Beverly Hills | $968 | 5% |
| Hewitt | $962 | 3% |
For more information about the Waco rental trends, check out our monthly rent report
Check out Texas Cities, Texas Neighborhoods and Texas Zip Codes for more details on verified listings, including the Texas Average Rent.
Curious about listings in your area? Check out our apartments near you for more details!