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These days, finding an affordable place to live in the Waco area can be challenging. Home prices in Waco are now at a median cost of $192,745, lower than the Texas average of $322,096.
The average cost of rent is $1,224/mo in Waco, primarily driven by the current value of real estate in the Waco area. In Waco, 51.18% of households rent, and 55.32% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Waco is $4,587 per month. Households that rent pay about 26.68% of their income on rent here. Waco’s most expensive areas are in the northwestern regions, while the cheapest areas are in the central parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Beverly Hills, TX: less expensive homes
- Bellmead, TX: equally priced homes
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- Robinson, TX: higher priced homes
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- Elm Mott, TX: higher priced homes
- Lorena, TX: higher priced homes
- Ocee, TX: higher priced homes
- Hallsburg, TX: equally priced homes
Cities with Similar Populations
- Waurika, OK: less expensive homes
- Waverly, FL: equally priced homes
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- Welcome, WA: higher priced homes
- Wells, TX: less expensive homes
- Watterson Park, KY: higher priced homes
- Wells, VT: higher priced homes
- Webb Lake, WI: higher priced homes
- Webster, ND: higher priced homes
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