Waco, TX—76707
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 $138,000, with a year-over-year change of -5.1%. This indicates that home prices in Waco, TX are decreasing. According to Zillow, the 1-year price projection is -0.7%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $138,000 | -5.1% |
| Single Family | $138,000 | -5.5% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $95,000 | -6.9% |
2 Bed | $120,000 | -4.0% |
3 Bed | $147,000 | -5.8% |
4 Bed | $210,000 | -3.7% |
| 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 $1,430, with a year-over-year rent change of -2.1%. Per bedroom, the median rent as of July '25 in Waco, TX is studios: $695, 1-bedrooms: $817, 2-bedrooms: $1,100, 3-bedrooms: $1,830, 4-bedrooms: $2,150. The most common rental property sizes in Waco, TX are 2-bedroom and 3-bedroom, accounting for 45.7% and 25.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,180 | $1,430 |
| Studio Rent | $695 | $695 |
| 1 Bed Rent | $795 | $817 |
| 2 Bed Rent | $1,100 | $1,100 |
| 3 Bed Rent | $1,700 | $1,830 |
| 4 Bed Rent | $2,200 | $2,150 |
% 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 97. This is a increase of 6.0% 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 25.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $222,000 | 2.0% |
Listing Count | 105 | 32.0% |
| Listings as % of Homes | 0.8% | 32.0% |
Days on Market | 97 | 6.0% |
Demographics — Waco, TX
As of the latest ACS Survey released in 2023, Waco, TX has a population of 16,600, which has increased by 7.7% over the past 5 years. Waco, TX is a popular place for families, as children make up 31.7% of the population. The area has a poorly educated workforce, with 15.1% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 16,600 | 7.7% |
% Under 18 | 31.7% | 2.6% |
% Seniors | 9.9% | -1.0% |
% WFH | 10.6% | 960.0% |
% w/ College Degree | 15.1% | 16.2% |
As of the latest ACS Survey released in 2023, Waco, TX is a predominantly hispanic area, with 47.3% of the population identifying as hispanic. The hispanic population has grown by 0.4% in the last 5 years. The second most common race or ethnicity in Waco, TX is black, making up 32.8% of the population. Foreign-born residents account for 14.8% of the population in Waco, TX, and this percentage has decreased by 9.2% 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 | 17.7% | -20.3% |
% Black | 32.8% | 10.8% |
% Hispanic | 47.3% | 0.4% |
% Asian | 0.8% | 33.3% |
% Foreign Born | 14.8% | -9.2% |
Mortgage and Risk — Waco, TX
According to HUD data as of 2023, there were 181 mortgage originations in Waco, TX, of which 69.0% of loans were conventional mortgages. The average loan-to-value was 84.0%, with 38.0% above 90% LTV (very high). This implies large mortgage risk in Waco, TX. Investor activity is high, as 27.0% of loans were by investors. 9.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 181 |
% Conventional Loans | 69.0% |
% Government Loans | 31.0% |
% Investor Loans | 27.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 9.0% |
Loan Activity
Rentals and Section 8 — Waco, TX
As of 2024, the percent of homes in Waco, TX under the Section 8 program is 26.1%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 2-bedroom and 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Waco, TX, because HUD payments exceed market rent, while 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 660 |
Total Units Section 8 | 606 |
% Rentals under Section 8 | 26.1% |
% Occupied Section 8 | 81.2% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $285 | $795 | $1,080 |
| 2 Bedroom | $240 | $1,100 | $1,340 |
| 3 Bedroom | $30 | $1,700 | $1,730 |
| 4 Bedroom | -$420 | $2,200 | $1,780 |
Affordability — Waco, TX
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.9 |
| Median Home Price | $138,000 |
| Median Household Income | $38,200 |