Currently, foamed concrete (FC) is widely employed in building construction and civil engineering works, and by using abundant natural fibers in FC, significant environmental benefits can be obtained. The durability properties of the essential materials acting independently could well be enhanced if the appropriate proportion of natural fiber-strengthened FC were used in the correct volume. This study aimed to develop new composite materials composed of FC and agave fiber (AF). The objective was to ascertain the optimal proportion of AF to be added to FC to increase its durability performance. A low-density FC of 950 kg/m³ was fabricated utilizing varying percentages of AF, namely 0% (control), 1.5%, 3.0%, 4.5%, 6.0%, and 7.5%. The evaluated properties were the shrinkage, workability, density, water absorption, ultrasonic pulse velocity, porosity, compressive strength, and elastic modulus. Using AFs in FC, the optimal shrinkage and ultrasonic pulse velocity were observed. When the weight fractions of AF were increased from 1% to 4.5% in the mixtures, the porosity, workability, and water absorption of FC were significantly reduced. In addition, FC showed a slight increase in the dry density with the rise in the AF’s weight fraction and the increase in the curing age from day-7 to day-56. This research delivers noteworthy data on the durability properties of FC-AF composites, allowing future researchers to study other properties like the structural performance, strength properties, and thermal conductivity of FC-AF composites.