Average Rent in Waco, TX↑ Rents rising 8.8% YoY🔺 13th priciest in TX

Waco, TX has rental prices ranging from $944/month to $1,826/month in 2025, depending on unit size. The typical 1-bedroom apartment rents for $1,106/month — 21% below the national average of $1,400/month. With a median household income of $63,880/year, spending $1,106/month on a 1-bedroom represents 21% of gross income — within the recommended 30% threshold.

How Waco Compares

With an average 2-bedroom rent of $1,377/month, Waco ranks #13 most expensive of the 220 cities tracked in Texas — pricier than 89% of all US cities in our data.

The Waco Rental Market

The Waco, TX area has a population of about 299,217 and 37% of households renting rather than owning. That is close to the US average renter share of ~34%.

Rent Trends

2-bedroom rents in Waco, TX have risen by $111/month (8.8%) over the past year, from $1,266 to $1,377. This rate of increase is significant and reflects strong rental demand and limited housing supply in the local market.

Affordability

To afford a 1-bedroom apartment in Waco, TX without exceeding the 30% housing cost guideline, a renter needs an annual income of approximately $44,240. The local median household income of $63,880 exceeds that threshold by $19,640, making Waco relatively accessible compared to local wages.

Rent vs. Buy

The median home value in Waco, TX is $200,100, giving a price-to-rent ratio of 12.1. The break-even point between renting and buying is roughly 12 years — renting offers more flexibility for shorter stays, while buying makes more sense for long-term residents.

Neighborhoods

Home values — and by extension rent levels — vary significantly across Waco's neighborhoods. Among the highest-value areas are East Riverside ($107,161 median home value), Carver ($130,685 median home value), North Waco ($134,557 median home value). Rental prices typically follow home value patterns, with premium neighborhoods commanding higher rents than outer areas. Renters on a tighter budget may find better value in less central neighborhoods or in adjacent metros with lower overall rent levels.

Is Waco, TX Affordable?

Income needed to rent or buy, price history, and how this city compares to nearby metros.

Rent or Buy in Waco?

Break-even analysis and mortgage estimates based on local market data.

Living in Waco

Cost of living, job market, crime rates, and moving cost estimates.