Waco, TX
McLennan County · Pop. 141,228
Ranked #43 of 243 cities
54Moderate
Median Home Price
🏠$180K
3.5% YoY
Median Rent
🔑$1,000
2.5% YoY
Median Income
💰$38K
Rent Burden
📊32.5%
% of income to rent
Income to Buy
🏦$52K
annual income needed
Income to Rent
📝$40K
annual income needed
Price-to-Income
⚖️4.7x
Homeownership
🏡42.0%
Rent vs. Buy
Buy
$958/mo
Est. mortgage (7%, 20% down)
Need $52K/yr income
Rent
$1,000/mo
Median rent
Need $40K/yr income
How Waco Compares
| Metric | Waco | Texas | National |
|---|---|---|---|
| Home Price | $180K | $297K | $410K |
| Rent | $1,000 | $1,413 | $1,500 |
| Income | $38K | $76K | $75K |
| Rent Burden | 32.5% | 32.0% | 30.0% |
Key Takeaways
- • Home prices in Waco are 56% lower than the national average.
- • Rent is 33% lower than the national average.
- • You need an income of $52K to comfortably buy a home here.
- • The homeownership rate is 42.0%, compared to 65.0% nationally.