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Waco, TX—76707

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$141,000
6.9% YoY Growth
Household Income
$38,200
40.8% YoY Growth
Days on Market
72
60.0% Longer YoY
Home Price Forecast
-0.7%
Median Rent
$1,180
2.1% YoY Growth
1-Bed Rent
$795
2.5% YoY Growth
2-Bed Rent
$1,100
14.1% YoY Growth
3-Bed Rent
$1,700
0.5% YoY Growth

Other Zip Codes in Waco, TX

76701767987671176704767087671076706
  • 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 $141,000, with a year-over-year change of -6.9%. 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 TypeMedian Home ValueYoY % Change
All Homes
$141,000-6.9%
Single Family $141,000-6.6%
Condos N/AN/A

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed

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  • Affordability
  • Rentals and Section 8
    • $94,000
    -5.1%
    2 Bed
    		$122,000-7.6%
    3 Bed
    		$151,000-6.8%
    4 Bed
    		$217,000-5.2%
    5 Bed N/AN/A
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    % of Housing Stock

    Studio
    1.8%
    1 Bedroom
    9.1%
    2 Bedrooms
    33.3%
    3 Bedrooms
    46.6%
    4 Bedrooms
    7.6%
    5+ Bedrooms
    1.6%

    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.

    TypeMedian RentAverage 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
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    % of Rental Stock

    Studio
    3.1%
    1 Bedroom
    20.7%
    2 Bedrooms
    45.7%
    3 Bedrooms
    25.1%
    4 Bedrooms
    4.1%
    5+ Bedrooms
    1.3%

    Property Listings — Waco, TX

    As of May '26, Realtor.com reports that the median days on market for a home in Waco, TX is 72. This is a increase of 60.0% 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 32.0%, representing a large inventory and a lot of supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$229,000-1.0%
    Listing Count
    		11330.0%
    Listings as % of Homes0.8%30.0%
    Days on Market
    		7260.0%
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    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.

    MetricLatest CensusYoY % Change
    Population
    		16,6007.7%
    % Under 18
    		31.7%2.6%
    % Seniors
    		9.9%-1.0%
    % WFH
    		10.6%960.0%
    % w/ College Degree
    		15.1%16.2%
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    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

    MetricLatest Census5-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%
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    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

    MetricZip 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%
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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 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 SizeHUD PremiumMarket RentMax 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

    MetricZip Code Average
    Home Price to Income Ratio4.1
    Median Home Price$141,000
    Median Household Income$38,200

    Waco, TX — ZIP Code Boundary Map

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    Nearby ZIP Codes

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    76701

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    Frequently Asked Questions