Waco, TX—76711
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 $130,000, with a year-over-year change of -6.5%. This indicates that home prices in Waco, TX are decreasing. According to Zillow, the 1-year price projection is -0.1%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $130,000 | -6.5% |
| Single Family | $130,000 | -6.5% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $113,000 | -8.9% |
3 Bed | $139,000 | -6.1% |
4 Bed | $192,000 | -3.5% |
| 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 $1,520, with a year-over-year rent change of 18.8%. Per bedroom, the median rent as of July '25 in Waco, TX is studios: $1,330, 1-bedrooms: $1,370, 2-bedrooms: $1,580, 3-bedrooms: $1,750, 4-bedrooms: $1,970. The most common rental property sizes in Waco, TX are 2-bedroom and 1-bedroom, accounting for 50.6% and 29.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,420 | $1,520 |
| Studio Rent | $1,330 | $1,330 |
| 1 Bed Rent | $1,390 | $1,370 |
| 2 Bed Rent | $1,300 | $1,580 |
| 3 Bed Rent | $1,850 | $1,750 |
| 4 Bed Rent | $2,150 | $1,970 |
% 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 70. This is a increase of 56.0% 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 21.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $190,000 | -2.0% |
Listing Count | 38 | 19.0% |
| Listings as % of Homes | 0.4% | 19.0% |
Days on Market | 70 | 56.0% |
Demographics — Waco, TX
As of the latest ACS Survey released in 2023, Waco, TX has a population of 9,630, which has decreased by -1.4% over the past 5 years. Waco, TX is a moderately popular place for families, as children make up 24.7% of the population. The area has a poorly educated workforce, with 17.0% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 5.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 9,630 | -1.4% |
% Under 18 | 24.7% | -5.7% |
% Seniors | 12.8% | 18.5% |
% WFH | 5.9% | 78.8% |
% w/ College Degree | 17.0% | 41.7% |
As of the latest ACS Survey released in 2023, Waco, TX is a predominantly hispanic area, with 60.9% of the population identifying as hispanic. The hispanic population has shrunk by 1.8% in the last 5 years. The second most common race or ethnicity in Waco, TX is white, making up 22.9% of the population. Foreign-born residents account for 26.7% of the population in Waco, TX, and this percentage has increased by 24.8% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 22.9% | -5.4% |
% Black | 11.8% | -5.6% |
% Hispanic | 60.9% | -1.8% |
% Asian | 1.8% | 500.0% |
% Foreign Born | 26.7% | 24.8% |
Mortgage and Risk — Waco, TX
According to HUD data as of 2023, there were 85 mortgage originations in Waco, TX, of which 66.0% of loans were conventional mortgages. The average loan-to-value was 81.0%, with 35.0% 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. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 85 |
% Conventional Loans | 66.0% |
% Government Loans | 34.0% |
% Investor Loans | 20.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — Waco, TX
As of 2024, the percent of homes in Waco, TX under the Section 8 program is 4.2%. 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. 2-bedroom and 3-bedroom and 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Waco, TX, because HUD payments exceed market rent, while 1-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 85 |
Total Units Section 8 | 85 |
% Rentals under Section 8 | 4.2% |
% Occupied Section 8 | 82.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$20 | $1,390 | $1,370 |
| 2 Bedroom | $400 | $1,300 | $1,700 |
| 3 Bedroom | $340 | $1,850 | $2,190 |
| 4 Bedroom | $100 | $2,150 | $2,250 |
Affordability — Waco, TX
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.6 |
| Median Home Price | $130,000 |
| Median Household Income | $52,600 |