Waco, TX
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Waco, TX Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2019. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2017 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Waco Housing Market Information

With 136,436 people, 47,675 houses or apartments, and a median cost of homes of $116,105, house prices in Waco are solidly below the national average.

Single-family detached homes are the single most common housing type in Waco, accounting for 58.52% of the city's housing units. Other types of housing that are prevalent in Waco include large apartment complexes or high rise apartments ( 25.11%), duplexes, homes converted to apartments or other small apartment buildings ( 12.45%), and a few row houses and other attached homes ( 2.83%).

The most prevalent building size and type in Waco are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 45.23% owning and 54.77% renting.

There is a lot of housing in Waco built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Waco built between 1940-1969 ( 34.47%). A lesser amount of the housing stock also hails from between 2000 and later ( 18.42%). There's also some housing in Waco built before 1939 ( 6.56%).

Vacant housing appears to be an issue in Waco. Fully 11.14% of the housing stock is classified as vacant. Left unchecked, vacant Waco homes and apartments can be a drag on the real estate market, holding Waco real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Waco Home Appreciation Rates

In the last 10 years, Waco has experienced some of the highest home appreciation rates of any community in the nation. Waco real estate appreciated 45.10% over the last ten years, which is an average annual home appreciation rate of 3.79%, putting Waco in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Waco definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Over the last year, Waco appreciation rates have trailed the rest of the nation. In the last twelve months, Waco's appreciation rate has been 1.08%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Waco were at 0.37%, which equates to an annual appreciation rate of 1.47%.

Relative to Texas, our data show that Waco's latest annual appreciation rate is lower than 90% of the other cities and towns in Texas.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Waco differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Waco - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Waco real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$116,105

Waco, TX HOME PRICES

Value Range
> $1,269,000 0.3
$951,001 - $1,269,000 0.5
$634,001 - $951,000 0.8
$508,001 - $634,000 1.5
$381,001 - $508,000 3.1
$254,001 - $381,000 8.5
$127,001 - $254,000 26.8
$63,001 - $127,000 41.6
$0 - $63,000 17.0

Low for TX
Low for Nation

Value Relative to Nation Value Relative to State
74.2598540145985 63.4335596508244

Number Of Homes And Apartments:
47,675

Waco Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
TX*
Compared To
America*
Latest Quarter:
2019 Q1 - 2019 Q2
Last 12 Months:
2018 Q2 - 2019 Q2
Last 2 Years:
2017 Q2 - 2019 Q2
Last 5 Years:
2014 Q2 - 2019 Q2
Last 10 Years:
2009 Q2 - 2019 Q2
Since 2000:
2000 Q1 - 2019 Q2
100.71% 3.64%
6
9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,005 / per month

Homeownership Rate

Homeownership
Owners 45.23
Renters 54.77
Vacant 11.14

Housing Market Details

 

Age of Homes

AGE OF Waco HOMES
2000 or Newer 18.4
1970 - 1999 40.5
1940 - 1969 34.5
1939 or Older 6.6

Types of Homes

TYPE OF Waco HOMES
Single-Family 58.5
Townhomes 2.8
Small Apt. Buildings 12.5
Apt. Complexes 25.1
Mobile Homes 1.1
Other 0.0

Home Size

SIZE OF Waco HOMES
No Bedroom 1.62
1 Bedroom 15.46
2 Bedrooms 31.23
3 Bedrooms 38.01
4 Bedrooms 12.05
5 or more bedrooms 1.63