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Affordable Housing In Waco
McLennan County, Texas

17 Low Income Apartment Communities In Waco

Barron's Branch

817 Colcord Avenue
Waco, Texas
$297-950
1-3 BR

Trendwood Apartments

1700 Dallas Circle
Waco, Texas
Subsidized

University Apartments - Waco

2900 Primrose Dr
Waco, Texas
Subsidized

Tanglewood Apartments Company

4500 N 19th St
Waco, Texas
Subsidized

Catherine Booth Gardens

2001 Stewart Dr
Waco, Texas
Subsidized
62+
Accessible
Elderly Supportive Housing

Dripping Springs Senior Village

2405 J J Flewellen Rd
Waco, Texas

Robinson Garden Apartments

2724 Robinson Dr
Waco, Texas
Subsidized

Villages of Waco, The

1100 N 6th St
Waco, Texas
Subsidized

William Booth Towers

4200 N 19th St
Waco, Texas
Subsidized
62+
Accessible
Elderly Supportive Housing

South Terrace Apartments

100 Kennedy Circle
Waco, Texas

Housing Authorities that serve Waco

Housing Authority Programs
Waco Housing Authority and Affiliates Section 8 Housing Choice Voucher (HCV); Public Housing; Rental Assistance Demonstration (RAD)
Texas Department of Housing and Community Affairs Section 8 Housing Choice Voucher (HCV)

Guide To Affordable Housing in Waco, Texas

There are 17 low income housing apartment communities offering 2,778 affordable apartments for rent in Waco, Texas.

Income Based Apartments in Waco, Texas

Waco features 1,906 income based apartments. Tenants of income based apartments typically pay no more than 30% of their income towards rent and utilities.

Low Rent Apartments in Waco, Texas

There are 872 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Waco.

Housing Choice Vouchers in Waco, Texas

On average, Section 8 Housing Choice vouchers pay Waco landlords $500 per month towards rent. The average voucher holder contributes $400 towards rent in Waco.

The maximum amount a voucher would pay on behalf of a low-income tenant in Waco, Texas for a two-bedroom apartment is between $841 and $1,027.

2021 Waco, Texas Fair Market Rents and Housing Choice Voucher Payment Standards

Fair Market Rents can be used to better understand the average housing costs of an area. Fair Market Rents are used by HUD to establish payment and rent standards for federal rental assistance programs like the Section 8 Housing Choice Voucher Program.

Studio One BR Two BR Three BR Four BR
Waco, Texas Fair Market Rent $686 $721 $934 $1,252 $1,398
Waco, Texas Payment Standard Range $617 to $755 $649 to $793 $841 to $1,027 $1,127 to $1,377 $1,258 to $1,538

Sourced from federal housing data and AffordableHousingOnline.com research.

Waco, TX Affordable Housing Snapshot

Total Affordable Apartment Properties 17
Total Low Income Apartments 2,778
Total Housing Units with Rental Assistance 1,906
Percentage of Housing Units Occupied By Renters 54.02%
Average Renter Household Size 2.38
Average Household Size 2.59
Median Household Income $33,147 ±$1,056
Median Rent $743 ±$15
Percentage Of Renters Overburdened 53.29% ± 2.87pp
Total Population 129,193

Population and Household Demographics

Waco is a city in McLennan County, Texas with a population of 129,193. There are 46,719 households in the city with an average household size of 2.59 persons. 54.02% of households in Waco are renters.

Income and Rent Overburden in Waco

The median gross income for households in Waco is $33,147 a year, or $2,762 a month. The median rent for the city is $743 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Waco, a household making less than $2,477 a month would be considered overburdened when renting an apartment at or above the median rent. 53.29% of households who rent are overburdened in Waco.

Area Median Income In Waco

Affordable housing program eligibility is always determined by one's income. Each household's income is compared to the incomes of all other households in the area. This is accomplished through a statistic established by the government called the Area Median Income, most often referred to as AMI. The AMI is calculated and published each year by HUD.

HUD often uses an area larger than a city to determine the AMI because HUD anticipates those searching for housing will look beyond individual cities during their housing search. For Waco, the AMI is calculated from all households within McLennan County.

In Waco, HUD calculates the Area Median Income for a family of four as $61,900

Most affordable housing programs determine eligibility based on the percent of AMI a given household's income is. Among the programs that determine eligibility based on the AMI are Section 8, HOME, LIHTC, Section 515, 202 and 811.

Rental Assistance in Waco

Rental assistance is a type of housing subsidy that pays for a portion of a renter’s monthly housing costs, including rent and tenant paid utilities. This housing assistance can come in the form of Section 8 Housing Choice Vouchers, project-based Section 8 contracts, public housing, USDA Rental Assistance (in Section 515 properties) as well as HUD Section 202 and 811 properties for elderly and disabled households.

Income Qualifications for HUD Rental Assistance in Waco

1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% AMI Income Limits
Renters earning up to 30% of the Waco AMI may qualify for rental assistance programs that target Extremely Low Income households.
$13,150 $17,420 $21,960 $26,500 $31,040 $35,580 $38,750 $41,250
50% AMI Income Limits
Renters earning up to 50% of the Waco AMI may qualify for rental assistance programs that target Very Low Income households.
$21,900 $25,000 $28,150 $31,250 $33,750 $36,250 $38,750 $41,250
80% AMI Income Limits
Renters earning up to 80% of the Waco AMI may qualify for rental assistance programs that target Low Income households.
$35,000 $40,000 $45,000 $50,000 $54,000 $58,000 $62,000 $66,000