Home Values in Waco, Texas — 2026 Market Report
Updated March 2026 | Seller's Market | +4.7% YoY
The median home value in Waco, Texas is $215,000 as of March 2026, which is below the national median of $400,000. Home values in Waco have increased by 4.7% over the past year and 25.8% over the last five years. With a population of 138,486 and a median household income of $38,250, the price-to-income ratio stands at 5.6x, making Waco affordable for the average household.
Waco Housing Market Conditions
| Metric | Waco | National Avg |
|---|---|---|
| Median Home Value | $215,000 | $400,000 |
| YoY Appreciation | +4.7% | +3.8% |
| 5-Year Appreciation | +25.8% | +22.4% |
| Price per Sq Ft | $72 | $222 |
| Days on Market | 45 days | 45 days |
| Months of Supply | 1.8 | 3.5 |
| List-to-Sale Ratio | 98.3% | 98.5% |
| Monthly Homes Sold | 79 | — |
| Foreclosure Rate | 0.15% | 0.3% |
Home Value Trends in Waco
A homeowner who purchased at the median price of $170,906 five years ago in Waco would have gained approximately $44,094 in equity, representing a 25.8% return on investment. Over the past year alone, the typical homeowner gained $9,651 in home equity.
Affordability in Waco, TX
With a median household income of $38,250 and a median home price of $215,000, the price-to-income ratio in Waco is 5.6x. A ratio below 3x is generally considered affordable, while above 5x indicates significant affordability challenges. The average monthly rent of $1,347 compared to estimated monthly ownership costs of $1,345 gives a rent-vs-buy ratio of 1.00. In Waco, buying is currently competitive with renting when factoring in equity accumulation.
Property Taxes in Waco
The effective property tax rate in Texas is 1.8%. On a home valued at $215,000, the estimated annual property tax bill is $3,870, or approximately $323/month. Property taxes are an important factor in the total cost of homeownership and can significantly impact affordability. The cost of living index in Waco is 83.5 (100 = national average), indicating living costs are below the national average.
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Open Mortgage CalculatorFrequently Asked Questions
What is the median home value in Waco, TX?
The median home value in Waco, Texas is $215,000 as of March 2026. Home values have changed +4.7% over the past year, with a 5-year appreciation of 25.8%.
Is Waco a buyer's or seller's market?
Waco is currently a seller's market with 1.8 months of housing supply. Homes spend an average of 45 days on market, and the list-to-sale price ratio is 98.3%. Low inventory gives sellers an advantage.
Are home values going up in Waco?
Yes, home values in Waco have increased by 4.7% over the past year. The 5-year appreciation rate is 25.8%, meaning a home worth $170,906 five years ago is now worth $215,000.
Is it better to rent or buy in Waco?
The average monthly rent in Waco is $1,347, while estimated monthly homeownership costs are approximately $1,345. The price-to-rent ratio is 13.3. Based on current conditions, buying may be more cost-effective than renting in this market.
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Disclaimer: Home value data for Waco, Texas is based on publicly available market data and estimates. Actual home values may vary based on property condition, location within the city, and current market conditions. Data is updated regularly but may not reflect the most recent transactions. Last updated: March 2026.