Waco, TX—76701
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Waco, TX
As of Oct '25, the median home price in Waco, TX is $285,000, with a year-over-year change of -1.3%. This indicates that home prices in Waco, TX are decreasing. According to Zillow, the 1-year price projection is 0.2%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $285,000 | -1.3% |
| Single Family | $212,000 | -7.4% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | $234,000 | -4.1% |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Waco, TX
As of July '25, Rentcast reports the average rent in Waco, TX is $1,310, with a year-over-year rent change of -0.8%. Per bedroom, the median rent as of July '25 in Waco, TX is studios: $1,170, 1-bedrooms: $1,250, 2-bedrooms: $1,540, 3-bedrooms: $1,650, 4-bedrooms: $499. The most common rental property sizes in Waco, TX are 1-bedroom and 2-bedroom, accounting for 44.8% and 30.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,450 | $1,310 |
| Studio Rent | $1,200 | $1,170 |
| 1 Bed Rent | $1,100 | $1,250 |
| 2 Bed Rent | $1,480 | $1,540 |
| 3 Bed Rent | $1,450 | $1,650 |
| 4 Bed Rent | $499 | $499 |
% of Rental Stock
Property Listings — Waco, TX
As of Oct '25, Realtor.com reports that the median days on market for a home in Waco, TX is 160. This is a increase of 9.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 0.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $490,000 | -23.0% |
Listing Count | 15 | 20.0% |
| Listings as % of Homes | 0.3% | 20.0% |
Days on Market | 160 | 9.0% |
Demographics — Waco, TX
As of the latest ACS Survey released in 2023, Waco, TX has a population of 1,730, which has decreased by -13.5% over the past 5 years. Waco, TX is a less popular place for families, as children make up 7.0% of the population. The area has a moderately educated workforce, with 31.9% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 1,730 | -13.5% |
% Under 18 | 7.0% | -50.0% |
% Seniors | 10.7% | 52.9% |
% WFH | 9.9% | 70.7% |
% w/ College Degree | 31.9% | 12.7% |
As of the latest ACS Survey released in 2023, Waco, TX is a predominantly white area, with 41.9% of the population identifying as white. The white population has shrunk by 29.1% in the last 5 years. The second most common race or ethnicity in Waco, TX is black, making up 29.4% of the population. Foreign-born residents account for 5.4% of the population in Waco, TX, and this percentage has decreased by 38.6% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 41.9% | -29.1% |
% Black | 29.4% | 61.5% |
% Hispanic | 23.7% | 3.9% |
% Asian | 1.1% | 120.0% |
% Foreign Born | 5.4% | -38.6% |
Mortgage and Risk — Waco, TX
According to HUD data as of 2023, there were 10 mortgage originations in Waco, TX, of which 70.0% of loans were conventional mortgages. The average loan-to-value was 95.0%, with 30.0% above 90% LTV (very high). This implies large mortgage risk in Waco, TX. Investor activity is high, as 20.0% of loans were by investors. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 10 |
% Conventional Loans | 70.0% |
% Government Loans | 30.0% |
% Investor Loans | 20.0% |
% Second Loans | 30.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Waco, TX
As of 2024, the percent of homes in Waco, TX under the Section 8 program is 7.4%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Waco, TX, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 43 |
Total Units Section 8 | 43 |
% Rentals under Section 8 | 7.4% |
% Occupied Section 8 | 83.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $180 | $1,100 | $1,280 |
| 2 Bedroom | $110 | $1,480 | $1,590 |
| 3 Bedroom | $600 | $1,450 | $2,050 |
| 4 Bedroom | $1,611 | $499 | $2,110 |
Affordability — Waco, TX
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 10.8 |
| Median Home Price | $285,000 |
| Median Household Income | $24,600 |