Rents are 3% above what Woodway's 10-year trend predicts — running hotter than its own history.
Rent by unit size
These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $1,618 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.
Source: HUD Small Area Fair Market Rents. Read the methodology →
12-month history
Last updated: October 17, 2026
What the numbers show
Rent in Woodway is at its highest level since Zillow's records here began in May 2023.
Rent in Woodway changed +7.7% over the year to September 2026. Across the 224 Texas cities Zillow tracks, the typical change was +1.0%.
Rent has risen 7 months in a row, and rose in 9 of the last 12 months.
30% of the median household income ($115,108) is $2,878 a month. That covers HUD's Fair Market Rent for up to a 4-bedroom ($2,130).
Waco, 6 miles away, rents for 17% less ($1,342/mo), about $3,300 a year in savings.
From Zillow's monthly rent index (ZORI) for Woodway. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
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Who lives here
Woodway, TX is majority owner-occupied, has a large retiree population, has a median income above the national average, 65.1% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Woodway, TX has changed in 5 years
Household income in the area moved from $105,483 to $115,108 across the same window, up 9.1% versus 2021. Headcount in the area went from 9,310 to 9,570 between 2021 and 2024, a 2.8% change. About 9.2% of households rent today, against 11.8% in 2021. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher climbed from 60.2% to 65.1%.
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Can you afford rent in Woodway on your salary?
At $1,618/mo, how Woodway rent compares to typical pay (30% rule).
Woodway rent by bedroom count
Median rent for each apartment size in Woodway. Click any size for full breakdown.
Tips for renters in Woodway
Last updated: October 17, 2026
The median rent in Woodway is $1,618/mo as of October 2026. A studio apartment averages $1,100/mo while a 2-bedroom runs $1,610/mo. One-bedroom apartments average $1,290/mo and 3-bedroom units go for $2,080/mo.
At 17% of local median household income ($115,108/yr), Woodway ranks as affordable compared to the national benchmark of 30%. Rents have increased 7.7% over the past year.
Frequently asked questions
How much income do you need to rent in Woodway?
Is rent going up or down in Woodway?
How does Woodway rent compare to other cities in Texas?
Which nearby cities are cheaper to rent in than Woodway?
At $1,618/mo, rent takes ~17% of Woodway's median household income ($115,108/yr). The standard benchmark is 30%.
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Estimated from ZIP-level data
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