Waco, TX—76708
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 $221,000, with a year-over-year change of -2.5%. This indicates that home prices in Waco, TX are decreasing. According to Zillow, the 1-year price projection is 0.4%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $221,000 | -2.5% |
| Single Family | $224,000 | -2.2% |
| Condos | $139,000 | -2.1% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $104,000 | -8.0% |
2 Bed | $123,000 | -8.2% |
3 Bed | $226,000 | -2.2% |
4 Bed | $340,000 | -0.6% |
| 5 Bed | $405,000 | -0.7% |
% of Housing Stock
Rental Trends — Waco, TX
As of July '25, Rentcast reports the average rent in Waco, TX is $1,620, with a year-over-year rent change of 4.5%. Per bedroom, the median rent as of July '25 in Waco, TX is 1-bedrooms: $976, 2-bedrooms: $1,230, 3-bedrooms: $1,810, 4-bedrooms: $2,040. The most common rental property sizes in Waco, TX are 3-bedroom and 1-bedroom, accounting for 33.5% and 32.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,650 | $1,620 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,000 | $976 |
| 2 Bed Rent | $1,180 | $1,230 |
| 3 Bed Rent | $1,700 | $1,810 |
| 4 Bed Rent | $2,050 | $2,040 |
% 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 99. This is a increase of 20.0% 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 19.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $290,000 | -9.0% |
Listing Count | 227 | 37.0% |
| Listings as % of Homes | 1.1% | 37.0% |
Days on Market | 99 | 20.0% |
Demographics — Waco, TX
As of the latest ACS Survey released in 2023, Waco, TX has a population of 27,700, which has remained stable by 0.8% over the past 5 years. Waco, TX is a popular place for families, as children make up 26.7% of the population. The area has a poorly educated workforce, with 24.7% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 27,700 | 0.8% |
% Under 18 | 26.7% | -7.0% |
% Seniors | 14.4% | 17.1% |
% WFH | 8.7% | 117.5% |
% w/ College Degree | 24.7% | 16.5% |
As of the latest ACS Survey released in 2023, Waco, TX is a predominantly white area, with 50.0% of the population identifying as white. The white population has grown by 8.5% in the last 5 years. The second most common race or ethnicity in Waco, TX is hispanic, making up 31.3% of the population. Foreign-born residents account for 11.0% of the population in Waco, TX, and this percentage has decreased by 6.8% 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 | 50.0% | 8.5% |
% Black | 13.6% | -2.9% |
% Hispanic | 31.3% | -13.1% |
% Asian | 2.2% | 10.0% |
% Foreign Born | 11.0% | -6.8% |
Mortgage and Risk — Waco, TX
According to HUD data as of 2023, there were 539 mortgage originations in Waco, TX, of which 62.0% of loans were conventional mortgages. The average loan-to-value was 79.0%, with 45.0% above 90% LTV (very high). This implies large mortgage risk in Waco, TX. Investor activity is low, as 9.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 539 |
% Conventional Loans | 62.0% |
% Government Loans | 38.0% |
% Investor Loans | 9.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — Waco, TX
As of 2024, the percent of homes in Waco, TX under the Section 8 program is 14.6%. 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. 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 | 580 |
Total Units Section 8 | 505 |
% Rentals under Section 8 | 14.6% |
% Occupied Section 8 | 87.1% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $110 | $1,000 | $1,110 |
| 2 Bedroom | $200 | $1,180 | $1,380 |
| 3 Bedroom | $80 | $1,700 | $1,780 |
| 4 Bedroom | -$220 | $2,050 | $1,830 |
Affordability — Waco, TX
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.4 |
| Median Home Price | $221,000 |
| Median Household Income | $66,800 |