Techniques for dynamically managing receiver resources to achieve good latency and throughput performance are described. A receiver may have various types of receiver resources such as demod resources for demodulating packets, decode resources for decoding packets, packet processing resources, etc. These various types of receiver resources may be dynamically assigned to packets. In one design, receiver resource usage by each packet to be processed by the receiver may be estimated. The available receiver resources may be assigned to packets based on the estimated receiver resource usage by each packet and one or more assignment criteria such as priority, latency requirements, etc. The latency of each packet may be determined based on the receiver resource assignment. If the latency requirements of any packet are not met, then receiver processing may be skipped or deferred for one or more packets such that the latency requirements of each packet to be processed can be met.