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Waco real estate market overview
- Average Monthly Rent: $1,304
- Home Price/Value Percentage Change: 5.70%
- Median Home Value: $215,714
- Best Time To Sell a Home: June
- Affordability Index: High
- Days To Sell a House: 74
- Job Market: Fair
- Public School Ranking: 27
Location and weather
Waco is located in the McLennan County region of north-central Texas. This city lies along the Brazos river, and sits around 100 miles south of Dallas. Along with being known as the birthplace of Dr. Pepper, Waco is also infamous for its Texas Ranger Hall of Fame, beautiful river-side walkways, affordable living and prime location in the heart of Texas.
The weather in Waco can reach up to 102 degrees, but is rarely lower than 27 during the winter. Similar to Temple, the annual amount of snow here is relatively small and there are only around 70 days of rainfall.
Population, job market and cost of living
Waco's population is 142,590, with a growth rate of 0.97% annually.
The job market here has decreased by -1.99% over the last year. In ten years, job growth is predicted to be 38.32%. Manufacturing and food and beverage production are the largest driving sectors of this city's economy. Tourism and a lively downtown also contribute to the monetary growth this smaller Texan city has seen. Some of the largest employers include American Income Life Insurance, Lionheart, Rainbow International, City of Waco and McLennan Community college.
This city boasts affordable living with low housing costs, despite most residential areas being close to or on a river front view.
Waco real estate market details
- North Lake Waco
- Mountainview
- Landon Branch
- Kendrick
- Brookview
- West Waco
- Parkdale Viking Hills
The average monthly rent in Waco is $1,304 for an average apartment size of 871 sq. feet.
There has been a 5.7 % increase in Waco's median home value over the last year. As of 2023, the median home value is $215,714.
On average, homes in Waco sell after 74 days on the market.
Home sales during June can provide the highest valued sale, while home sales in June provide the quickest sale.
The affordability index in Waco is 79. This number indicates high affordability in this city.
The top ranked public schools are South Bosque Elementary, Woodway Elementary, Bosqueville Elementary, Midway High School, and Bosqueville High School. This information is supported by data from The US Department of Education, The US Census Bureau and the Texas Education Agency.