Waco, TX Rental Market Trends
What is the average rent in Waco?
The average rent for an apartment in Waco is $1,041, a 5% increase compared to the previous year.
Average Rent in Waco, TX
| Average Rent | Y-o-Y Change | Average Apartment Size |
|---|---|---|
| $1,041 | 5% | 871 sq. ft. |
What is the average apartment size in Waco?
The average size for a Waco, TX apartment is 871 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
- < $5002%
- $501-$70015%
- $701-$1,00042%
- $1,001-$1,50030%
- $1,501-$2,0004%
- > $2,0006%
Waco, TX Occupied Housing Units
- Renter-occupied Households41%
- Owner-occupied Households58%
20,056 or 41% of the households in Waco, TX are renter-occupied while 28,847 or 58% are owner-occupied.
Waco, TX Rent Trends
| Average Rent | Mar / 2018 | Jul / 2018 | Nov / 2018 | Mar / 2019 | Jul / 2019 | Nov / 2019 | Mar / 2020 | Jul / 2020 | Nov / 2020 | Mar / 2021 | May / 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Waco, TX | $958 | $952 | $952 | $969 | $972 | $977 | $987 | $1,004 | $1,025 | $1,019 | $1,041 |
| National | $1,314 | $1,345 | $1,354 | $1,358 | $1,390 | $1,397 | $1,400 | $1,392 | $1,396 | $1,407 | $1,428 |
Average Rent in Waco, TX By Neighborhood
| Neighborhood | Average Rent |
|---|---|
| Sanger-Heights | $1,574 |
| Brazos | $1,335 |
| Alta Vista | $1,331 |
| Baylor | $1,331 |
| Oakwood | $1,331 |
| Robinson | $1,331 |
| University | $1,285 |
| Beverly Hills | $1,085 |
| Kendrick | $845 |
| East Riverside | $835 |
| Brook Oaks | $827 |
| Dean Highland | $827 |
| Carver | $817 |
| Bellmead | $809 |
| Chalk Bluff | $809 |
| Gholson | $809 |
| Hallsburg | $809 |
| Lacy-Lakeview | $809 |
| Rogers Hill | $809 |
| Technology Village | $809 |
| Timbercrest | $809 |
| Austin Ave | $804 |
| Cedar Ridge | $789 |
| North Lake Waco | $789 |
| North Waco | $789 |
| Rock Creek | $789 |
| Brookview-Heart of Texas | $784 |
| Landon Branch | $777 |
| Mountainview | $773 |
| Richland Hills | $773 |
| Ridgewood Country Club | $773 |
What are the most affordable neighborhoods in Waco?
The most affordable neighborhoods in Waco are Mountainview, where the average rent goes for $773/month, Richland Hills, where renters pay $773/mo on average, and Ridgewood Country Club, where the average rent goes for $773/mo. If you’re looking for other great deals, check out the listings from Landon Branch ($777), Brookview-Heart of Texas ($784), and Cedar Ridge ($789), where the asking prices are below the average Waco rent of $1,041/mo.
What are the most expensive neighborhoods in Waco?
The most expensive neighborhoods in Waco are Robinson ($1,331), Brazos ($1,335) and Sanger-Heights ($1,574).
What are the most popular neighborhoods in Waco?
The most popular neighborhood in Waco is Richland Hills, where there are 2 verified RENTCafé listings with an average rent of $773. Next up is Alta Vista, where apartments go for $1,331/month, followed by Baylor with $1,331 If you’re looking to rent in Waco’s most popular neighborhoods, make sure to also check out Beverly Hills, where renters pay $1,085 on average, and Kendrick, where the average monthly rent is $845.
Waco | Rent Comparison by Neighborhood
Rent in Alta Vista is 66% higher than in Austin Ave
Alta Vista rent is 28% higher than Waco average
| Average Rent | $1,331 |
|---|
Austin Ave rent is 23% lower than Waco average
| Average Rent | $804 |
|---|
How Waco Compares to Other Cities
| Average Rent | Y-o-Y Change | |
|---|---|---|
| Houston | $1,132 | 2% |
| Dallas | $1,276 | 2% |
| Austin | $1,431 | 1% |
| San Antonio | $1,077 | 3% |
| Fort Worth | $1,209 | 6% |
| Killeen | $831 | 8% |
| Waxahachie | $1,159 | 6% |
| Mansfield | $1,397 | 5% |
| Waco | $1,041 | 5% |
| Burleson | $1,323 | 5% |
| Red Oak | $1,078 | 4% |