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Waco, TX—76706

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$254,000
0.1% YoY Growth
Household Income
$42,300
33.8% YoY Growth
Days on Market
61
77.0% Longer YoY
Home Price Forecast
0.1%
Median Rent
$1,400
17.1% YoY Growth
1-Bed Rent
$925
36.8% YoY Growth
2-Bed Rent
$1,340
0.8% YoY Growth
3-Bed Rent
$1,800
12.7% YoY Growth

Other Zip Codes in Waco, TX

76701767077679876711767047670876710
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Waco, TX

As of May '26, the median home price in Waco, TX is $254,000, with a year-over-year change of 0.1%. This indicates that home prices in Waco, TX are flat. 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 TypeMedian Home ValueYoY % Change
All Homes
$254,0000.1%
Single Family $261,0000.4%
Condos $175,000-3.8%

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed

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  • Affordability
  • Rentals and Section 8
    • $106,000
    -7.8%
    2 Bed
    		$145,000-4.6%
    3 Bed
    		$248,0000.4%
    4 Bed
    		$380,0001.3%
    5 Bed $496,051-1.2%
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    % of Housing Stock

    Studio
    2.1%
    1 Bedroom
    14.6%
    2 Bedrooms
    27.5%
    3 Bedrooms
    32.0%
    4 Bedrooms
    22.9%
    5+ Bedrooms
    1.0%

    Rental Trends — Waco, TX

    As of July '25, Rentcast reports the average rent in Waco, TX is $1,510, with a year-over-year rent change of 17.1%. Per bedroom, the median rent as of July '25 in Waco, TX is 1-bedrooms: $977, 2-bedrooms: $1,330, 3-bedrooms: $1,870, 4-bedrooms: $1,930. The most common rental property sizes in Waco, TX are 2-bedroom and 4-bedroom, accounting for 32.3% and 22.3% of the rental stock.

    TypeMedian RentAverage Rent
    Average Rent$1,400$1,510
    Studio Rent N/AN/A
    1 Bed Rent $925$977
    2 Bed Rent $1,340$1,330
    3 Bed Rent $1,800$1,870
    4 Bed Rent $1,900$1,930
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    % of Rental Stock

    Studio
    3.4%
    1 Bedroom
    21.1%
    2 Bedrooms
    32.3%
    3 Bedrooms
    19.8%
    4 Bedrooms
    22.3%
    5+ Bedrooms
    1.0%

    Property Listings — Waco, TX

    As of May '26, Realtor.com reports that the median days on market for a home in Waco, TX is 61. This is a increase of 77.0% 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.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$289,000-1.0%
    Listing Count
    		24561.0%
    Listings as % of Homes0.6%61.0%
    Days on Market
    		6177.0%
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    Demographics — Waco, TX

    As of the latest ACS Survey released in 2023, Waco, TX has a population of 40,700, which has increased by 5.4% over the past 5 years. Waco, TX is a moderately popular place for families, as children make up 20.1% of the population. The area has a poorly educated workforce, with 22.6% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 6.2% reporting working from home.

    MetricLatest CensusYoY % Change
    Population
    		40,7005.4%
    % Under 18
    		20.1%-11.1%
    % Seniors
    		8.7%11.5%
    % WFH
    		6.2%93.8%
    % w/ College Degree
    		22.6%14.7%
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    As of the latest ACS Survey released in 2023, Waco, TX is a predominantly white area, with 49.2% of the population identifying as white. The white population has shrunk by 7.2% in the last 5 years. The second most common race or ethnicity in Waco, TX is hispanic, making up 31.0% of the population. Foreign-born residents account for 8.8% of the population in Waco, TX, and this percentage has decreased by 15.4% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.

    Race and Ethnicity

    MetricLatest Census5-Year % Change
    % White
    		49.2%-7.2%
    % Black
    		15.3%8.5%
    % Hispanic
    		31.0%8.0%
    % Asian
    		2.7%0.0%
    % Foreign Born
    		8.8%-15.4%
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    Mortgage and Risk — Waco, TX

    According to HUD data as of 2023, there were 336 mortgage originations in Waco, TX, of which 74.0% of loans were conventional mortgages. The average loan-to-value was 78.0%, with 36.0% above 90% LTV (very high). This implies large mortgage risk in Waco, TX. Investor activity is low, as 12.0% of loans were by investors. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

    Mortgages

    MetricZip Code Average
    Total Loan Originations
    		336
    % Conventional Loans
    		74.0%
    % Government Loans
    		26.0%
    % Investor Loans
    		12.0%
    % Second Loans
    		3.0%
    % Cash Out Refinance
    		11.0%
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    Rentals and Section 8 — Waco, TX

    As of 2024, the percent of homes in Waco, TX under the Section 8 program is 6.9%. 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 units appear to be good home sizes to consider for Section 8 housing in Waco, TX, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom and 4-bedroom units do not.

    Section 8 Market Size

    Total Units under HUD
    		930
    Total Units Section 8
    		644
    % Rentals under Section 8
    		6.9%
    % Occupied Section 8
    		85.2%

    Section 8 Opportunity

    Home SizeHUD PremiumMarket RentMax HUD Rent
    1 Bedroom$135$925$1,060
    2 Bedroom-$20$1,340$1,320
    3 Bedroom-$100$1,800$1,700
    4 Bedroom-$150$1,900$1,750

    Affordability — Waco, TX

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio5.9
    Median Home Price$254,000
    Median Household Income$42,300

    Waco, TX — ZIP Code Boundary Map

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    Frequently Asked Questions