Waco, TX—76710
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 $244,000, 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 0.6%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $244,000 | -1.3% |
| Single Family | $245,000 | -0.8% |
| Condos | $171,000 | -1.7% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $183,000 | -2.1% |
3 Bed | $234,000 | -0.8% |
4 Bed | $384,000 | 0.0% |
| 5 Bed | $655,000 | 0.6% |
% of Housing Stock
Rental Trends — Waco, TX
As of July '25, Rentcast reports the average rent in Waco, TX is $1,520, with a year-over-year rent change of -1.9%. Per bedroom, the median rent as of July '25 in Waco, TX is studios: $7,250, 1-bedrooms: $997, 2-bedrooms: $1,330, 3-bedrooms: $1,790, 4-bedrooms: $2,210. The most common rental property sizes in Waco, TX are 1-bedroom and 2-bedroom, accounting for 39.2% and 32.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,300 | $1,520 |
| Studio Rent | $7,250 | $7,250 |
| 1 Bed Rent | $1,020 | $997 |
| 2 Bed Rent | $1,230 | $1,330 |
| 3 Bed Rent | $1,700 | $1,790 |
| 4 Bed Rent | $2,150 | $2,210 |
% 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 111. This is a increase of 27.0% 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 28.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $320,000 | -7.0% |
Listing Count | 165 | 21.0% |
| Listings as % of Homes | 0.7% | 21.0% |
Days on Market | 111 | 27.0% |
Demographics — Waco, TX
As of the latest ACS Survey released in 2023, Waco, TX has a population of 23,300, which has decreased by -5.7% over the past 5 years. Waco, TX is a moderately popular place for families, as children make up 18.7% of the population. The area has a moderately educated workforce, with 32.1% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 23,300 | -5.7% |
% Under 18 | 18.7% | -11.8% |
% Seniors | 22.3% | 14.9% |
% WFH | 8.9% | 140.5% |
% w/ College Degree | 32.1% | 10.3% |
As of the latest ACS Survey released in 2023, Waco, TX is a predominantly white area, with 55.4% of the population identifying as white. The white population has shrunk by 0.4% in the last 5 years. The second most common race or ethnicity in Waco, TX is hispanic, making up 26.1% of the population. Foreign-born residents account for 4.7% of the population in Waco, TX, and this percentage has decreased by 39.0% 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 | 55.4% | -0.4% |
% Black | 15.9% | -14.5% |
% Hispanic | 26.1% | 11.5% |
% Asian | 0.6% | -50.0% |
% Foreign Born | 4.7% | -39.0% |
Mortgage and Risk — Waco, TX
According to HUD data as of 2023, there were 260 mortgage originations in Waco, TX, of which 84.0% of loans were conventional mortgages. The average loan-to-value was 76.0%, with 28.0% above 90% LTV (very high). This implies large mortgage risk in Waco, TX. Investor activity is low, as 13.0% 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 | 260 |
% Conventional Loans | 84.0% |
% Government Loans | 16.0% |
% Investor Loans | 13.0% |
% Second Loans | 2.0% |
% 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 7.8%. 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 units appear to be good home sizes to consider for Section 8 housing in Waco, TX, because HUD payments exceed market rent, while 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 441 |
Total Units Section 8 | 441 |
% Rentals under Section 8 | 7.8% |
% Occupied Section 8 | 81.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $20 | $1,020 | $1,040 |
| 2 Bedroom | $70 | $1,230 | $1,300 |
| 3 Bedroom | -$20 | $1,700 | $1,680 |
| 4 Bedroom | -$430 | $2,150 | $1,720 |
Affordability — Waco, TX
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.6 |
| Median Home Price | $244,000 |
| Median Household Income | $53,300 |