Cost of Living in Waco: A Baylor Student's Complete Budget Guide
If you're heading to Baylor University and wondering what your monthly budget will actually look like, you're not alone. The cost of living in Waco, TX is one of the biggest factors in choosing where to live — and the good news is, Waco is significantly more affordable than most college towns. But "affordable" doesn't mean much without real numbers. Here's a complete breakdown of what Baylor students actually spend each month, from rent to late-night Whataburger runs.
Waco's Cost of Living: The Big Picture
The cost of living in Waco, TX runs about 9% below the national average. Housing is where students save the most — it's roughly 22% cheaper than the U.S. average. Groceries come in about 7% below the national average too, and even auto insurance in Waco is among the cheapest in the entire state.
For context, the average rent in Waco hovers around $1,041/month as of early 2026 — compared to the national average of $1,637. That gap adds up fast over a 12-month lease.
Here's what a realistic monthly budget looks like for a Baylor student living off-campus:
| Category | Monthly Estimate |
|---|---|
| Rent (your share) | $450 – $1,250 |
| Apartment fees | $135 |
| Utilities | $0 – $178 |
| Groceries | $150 – $300 |
| Transportation | $0 – $120 |
| Insurance (renters + auto) | $135 – $200 |
| Entertainment & dining out | $100 – $200 |
| Total | $970 – $2,383 |
That's a wide range because your biggest variable is rent — specifically, whether you live solo or split with roommates. Let's break down each category.
Rent: Your Biggest Monthly Expense
Rent is the line item that makes or breaks a student budget. In Waco, you have options ranging from older complexes under $800/month to newer builds pushing $1,500+. But the smartest way to lower your rent isn't finding the cheapest apartment — it's splitting a larger unit with roommates.
At 19Eleven Apartments, here's what per-person rent looks like:
- 4-bedroom (1,596–1,640 sq ft): $1,750–$1,800 total = ~$450/person
- 3-bedroom (1,212–1,447 sq ft): $1,425–$1,660 total = ~$475–$553/person
- 2-bedroom: $1,305–$1,530 total = ~$653–$765/person
- 1-bedroom (~575 sq ft): $1,035–$1,250 for the unit
Compare that $450/person for a 4-bedroom floor plan against the average Waco 1-bedroom at $1,041. You're saving over $500/month while getting more space, your own bedroom, and loft-style features like exposed beams and high ceilings.
Monthly Apartment Fees
Beyond base rent, most apartments charge additional monthly fees. At 19Eleven, the breakdown is:
- Trash: $30/mo
- Pest control: $5/mo
- High-speed internet: $65/mo
- Facilities fee: $35/mo
- Total: $135/month
This is worth comparing against complexes advertising "all bills paid." Those units often bake inflated costs into higher base rent, add utility caps with overage charges, or tack on mandatory amenity fees. At 19Eleven, you see exactly what you're paying for — no surprises.
Utilities: What to Expect
If your apartment includes utilities in the monthly fees (like internet at 19Eleven), your out-of-pocket utility costs drop significantly. For apartments where you pay utilities separately, expect roughly:
- Electricity: $130–$160/month (Waco's average residential rate is about 14.4¢/kWh)
- Water/sewer: $30–$50/month
- Total: ~$178/month for a 914 sq ft apartment
Waco utility rates did increase in 2026 — the city council approved an $11/month bump covering water, wastewater, solid waste, and street maintenance fees. Still, utility costs here remain close to the national average.
Pro tip: Split utilities evenly with roommates. In a 4-bedroom, that $178 becomes about $45/person.
Groceries and Food: $150–$300/Month
Groceries in Waco run about 7% below the national average, thanks in part to H-E-B — Texas's beloved grocery chain with genuinely competitive prices. Here's what Baylor students typically spend:
- Budget-conscious (meal prep, H-E-B sales, Aldi): $150–$200/month
- Moderate (mix of cooking and eating out): $250–$300/month
- Eating out frequently: $350+/month
Where to Shop
- H-E-B (1.8 miles from 19Eleven) — Best overall selection and weekly deals
- Aldi (4.2 miles) — Lowest prices for basics and pantry staples
- Walmart (3.1 miles) — Good for bulk buys and non-grocery essentials
- H-E-B Plus! (4.5 miles) — Larger format with expanded options
A realistic strategy: do your main grocery run at H-E-B once a week, supplement with Aldi for staples, and limit eating out to 2–3 times per week. Most students who cook regularly stay under $250/month easily.
Transportation: $0–$120/Month
This one depends entirely on where you live. If your apartment is walking distance to campus, you can skip the car entirely — or at least leave it parked most of the week.
19Eleven is about 0.5 miles from Baylor's campus, which means a 10-minute walk or 3-minute bike ride to class. No parking pass needed. No gas money for the daily commute.
If you do drive regularly:
- Gas: $60–$80/month (depending on driving habits)
- Parking pass: $200–$500/year at Baylor ($17–$42/month)
- Car maintenance: Budget ~$50/month for oil changes, tires, etc.
Students living further from campus in cheaper apartments often don't realize they're spending $100–$150/month on transportation costs that eat into their "savings."
Insurance: A Line Item You Shouldn't Skip
Renters Insurance: $15–$23/Month
Renters insurance in Texas averages about $223/year — roughly $19/month. Some providers like Lemonade and State Farm offer plans starting around $11/month. It covers theft, fire, water damage, and liability.
Your parents' homeowners insurance probably doesn't cover you once you're living off-campus. Some lease agreements require proof of renters insurance, so check your lease terms. It's genuinely cheap protection for your laptop, furniture, and everything else in your apartment.
Auto Insurance: $100–$180/Month
Here's a bright spot: Waco has some of the lowest auto insurance rates in Texas, averaging around $1,397/year ($116/month) compared to the state average of $2,533/year. If you're under 25, expect to pay more — but bundling renters and auto insurance can save 10–25%.
Entertainment and Dining Out: $100–$200/Month
Waco has more going on than people expect. Here's what students typically budget for fun:
- Coffee shops: $20–$40/month (Common Grounds, Pinewood, Glory Bell)
- Dining out: $50–$100/month (Fuego, George's, Vitek's BBQ)
- Weekend activities: $30–$60/month (downtown Waco has free First Friday art walks, the Riverwalk, Cameron Park trails, and Baylor events)
- Streaming/subscriptions: $15–$30/month
The Waco nightlife scene is more fun than you'd expect, and plenty of it is budget-friendly — especially if you take advantage of free campus events, outdoor trails, and student discounts.
The Bottom Line: Sample Monthly Budgets
Here's what three different Baylor student budgets actually look like, using 19Eleven pricing:
The Saver (4-bedroom split)
| Category | Monthly Cost |
|---|---|
| Rent (your share of 4BR) | $450 |
| Apartment fees | $135 |
| Utilities (split 4 ways) | $45 |
| Groceries (meal prep) | $175 |
| Transportation (walk to class) | $0 |
| Renters insurance | $15 |
| Entertainment | $80 |
| Total | $900 |
The Balanced Student (2-bedroom split)
| Category | Monthly Cost |
|---|---|
| Rent (your share of 2BR) | $700 |
| Apartment fees | $135 |
| Utilities (split 2 ways) | $89 |
| Groceries + dining out | $275 |
| Transportation (occasional driving) | $60 |
| Insurance (renters + auto) | $135 |
| Entertainment | $150 |
| Total | $1,544 |
The Solo Student (1-bedroom)
| Category | Monthly Cost |
|---|---|
| Rent (1BR) | $1,150 |
| Apartment fees | $135 |
| Utilities | $178 |
| Groceries + dining out | $300 |
| Transportation | $100 |
| Insurance (renters + auto) | $150 |
| Entertainment | $175 |
| Total | $2,188 |
The difference between $900 and $2,188 is real — and the biggest lever is housing. Splitting a 3-bedroom or 4-bedroom with friends is the single most effective way to stretch your budget in Waco.
How Waco Stacks Up Against Other College Towns
The cost of living in Waco, TX gives Baylor students a genuine financial advantage. While students at UT Austin or Texas A&M deal with average rents of $1,400–$1,700, Waco's average sits around $1,041. Groceries, insurance, and entertainment all cost less here too.
That savings compounds over four years. A student paying $450/month in a 4-bedroom split instead of $1,100 for a 1-bedroom elsewhere saves roughly $31,200 over a four-year college career. That's a semester of grad school — or a solid start on paying off student loans.
Start Planning Your Budget
Ready to see the numbers for yourself? Browse 19Eleven's floor plans to find the layout and price point that fits your budget. Our loft-style apartments come with exposed beams, polished concrete floors, in-unit washer and dryer, and community amenities like an indoor pool, sports court, bark park, and study rooms — all within walking distance of Baylor.
Schedule a tour to see the space in person, or start your application today. And if you're still researching, check out our guide to splitting rent near Baylor for a deeper look at per-person costs by floor plan.