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Housing & Real Estate Guide — Waco Metro Area

This guide consolidates housing data across the Waco metro for people relocating to the area. For cost-of-living comparisons (taxes, utilities, overall index), see Cost-of-Living Comparison.

Market Overview (2025–2026)

The Waco metro is one of the most affordable mid-size housing markets in Texas. As of early 2026:

  • Median sale price (Waco proper): ~$194,000–$218,000 (Zillow/Redfin, Dec 2025)
  • Market pace: Homes averaging ~142 days on market; modest buyer leverage
  • Sale-to-list ratio: ~98.4% — minimal overbidding pressure
  • Trend: Prices up ~6.5% year-over-year (Jan 2026, Redfin); modest sustained growth expected
  • Inventory: ~3.2 months of supply — balanced, not a hot seller's market
  • Texas advantage: No state income tax; property taxes are higher than the national average but offset by low purchase prices

Median Home Prices by City

City Median Home Value Median Rent (approx.) School District Notes
Woodway ~$405,000 N/A Midway ISD Highest income area; 91% owner-occupied
McGregor ~$377,000 N/A McGregor ISD Small town; growing; limited inventory
Lorena ~$318,000 N/A Lorena ISD Fast-growing; rural feel; new subdivisions
West Waco (76712) ~$301,000 ~$1,762/mo Midway ISD SW Waco corridor; suburban/newer construction
Robinson ~$302,000 N/A Robinson ISD Family-oriented; low poverty rate (3.1%)
Hewitt ~$252,000 ~$1,538/mo Midway ISD Best value in Midway ISD; fastest-growing
Waco (city) ~$194,000–$218,000 ~$1,030–$1,041/mo (1BR) Waco ISD Wide variance by neighborhood
West (city) ~$198,000 N/A West ISD Czech heritage town; 20 min north on I-35
Clifton ~$147,000–$285,000 N/A Clifton ISD Rural; wide price range
Groesbeck ~$162,000 N/A Groesbeck ISD Small town; affordable
Beverly Hills ~$160,000 N/A Waco ISD Island city; limited inventory
Bellmead ~$155,000 N/A Connally ISD More affordable; 22% poverty rate
Lacy Lakeview ~$154,000–$160,000 N/A Connally ISD North of Waco; affordable
Mexia ~$110,000 N/A Mexia ISD Lowest prices; boomtown economy
Hillsboro ~$135,000–$158,000 N/A Hillsboro ISD 35 min north; I-35 corridor

Values sourced from city READMEs, Zillow, and Redfin (2023–2026 data). Verify current listings on Zillow, Redfin, or HAR.com.

Rent Ranges

Area Studio 1 BR 2 BR 3 BR
Waco (metro avg, Dec 2025) ~$1,002/mo ~$1,030–$1,041/mo ~$1,253–$1,267/mo ~$1,437+/mo
Hewitt — ~$1,538/mo — —
West Waco (76712) — ~$1,762/mo — —

Robinson, Woodway, Bellmead, and Lorena rental inventories are smaller; most available units are SFR (single-family rentals). Check Zillow, Apartments.com, and Facebook Marketplace for current listings.

Property Tax Rates (2025)

Texas has no state income tax, but property taxes are higher than the national average. Rates below are per $100 of assessed value (combined city + county + ISD):

City Combined Tax Rate (per $100) Est. Annual Tax on $300k Home
Waco $0.7550 ~$2,265
West $0.6300 ~$1,890
Lorena $0.5639 ~$1,692
Hewitt $0.5391 ~$1,617
Lacy Lakeview $0.5325 ~$1,598
McGregor $0.5314 ~$1,594
Robinson $0.5099 ~$1,530
Bellmead $0.3824 ~$1,147
Woodway $0.3638 ~$1,091

Source: McLennan County Tax Office, 2025. County base rate: ~$0.32/100. Homestead exemptions apply — McLennan County offers 10–20% homestead exemption with minimums. Additional exemptions for seniors 65+ and disabled persons.

Note: Woodway's low rate combined with a higher home price still produces a high dollar tax bill (~$5,900/yr on median home). Waco's higher rate on a lower purchase price keeps the total bill manageable.

New Construction & Active Builders

New construction is concentrated south and southwest of Waco — Hewitt, Robinson, Lorena, and the West Waco/76712 corridor are the primary growth zones.

Key Builders

John Houston Homes - Waco area communities: Lake Forest (Woodway), Sunwest Village (Waco), Renaissance (Waco/Midway ISD) - Price range: mid $300s to high $500s - Home sizes: 1,700–3,300 SF; 30+ floor plans - jhoustonhomes.com/waco-area

RDH (Russ Davis Homes / Russ Davis Lifestyle Homes) - Communities: Creekside (Hewitt, from ~$449K), Tanglewood (Hewitt, from ~$489K), Moonlight Park (Waco, from ~$474K), Bull Hide Estates (Lorena/Lorena ISD), Callan Village (Lorena, near Hewitt amenities) - Price range: upper $300s to $1M+; semi-custom and fully custom - russdavishomes.com / buildrdh.com

Cooper Custom Homes - Local family-owned builder; 50+ years experience - Fully custom; price range varies - cchwaco.com

26 total homebuilders are active in the Waco metro with ~383 new homes across 34 communities (NewHomeSource, 2025). Price range spans $97,900–$484,990 for production builders.

Neighborhoods to Approach Carefully

This section is factual — for safety and investment context, not to discourage.

  • East Waco — Historically lower-income with active community redevelopment underway. Crime rates are higher than the metro average. Investment opportunity zone for some buyers.
  • South Waco — Mixed area; lower-cost housing but higher crime in some pockets. Strong Hispanic community with deep cultural roots.
  • Richland Hills (Waco neighborhood) — 91% renter-occupied, 21% vacancy rate; not a typical homebuying destination.
  • Bellmead — Affordable but has a 22% poverty rate; higher crime than Hewitt/Robinson/Woodway.
  • Lacy Lakeview — Affordable entry point but verify specific block-level safety data before purchasing.

For detailed crime breakdowns see each city's detail.md file.

Buyer's Market Notes

  • Days on market: ~142 days metro-wide (Dec 2025) — buyers have negotiating room
  • HOAs: Common in newer Hewitt, Robinson, and West Waco subdivisions; verify fees before purchasing. Older Waco neighborhoods typically have no HOA.
  • Inspection culture: Standard Texas real estate contract includes option period (typically 7–10 days) for inspections. Highly recommended given hail frequency (see Weather Overview).
  • Roof condition: Critical in Waco due to frequent hail — always inspect roof age and condition. Expect insurance surcharges on older roofs.
  • Flood zones: Properties near Brazos River tributaries may be in FEMA flood zones. Check before purchasing. (See Weather Overview.)

Key Resources

Sources