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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)

Updated June 2026 — Redfin April 2026 data shows market softening; days on market improving; Zillow ZHVI flat.

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

  • Median sale price (Waco proper, Redfin April 2026): ~$275,535 — down 1.4% year-over-year; homes selling in ~70 days (down from 81 days a year prior — showing improved pace)
  • Zillow ZHVI (May 2026): ~$218,330 — essentially flat (+0.1% YoY); reflects broader metro including suburbs
  • Sale-to-list ratio: ~96.6% — buyers have modest leverage; sellers accepting ~3.4% below ask on average
  • Hot homes: sell near list price and go pending in ~26 days
  • Market character: "Somewhat Competitive" (Redfin Compete Score 43/100) — some homes get multiple offers but not a seller's market
  • Waco vs. national: Median sale price is 37% below the national average; overall cost of living 10% below national average
  • 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
  • Outlook: Prices and demand expected to increase modestly through summer 2026, then stabilize. Market unlikely to crash. Sources: Redfin (April 2026), Zillow, Houzeo.

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 La Vega 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. In Texas, your total tax bill is a combined rate consisting of several independent taxing entities: the City, the County, the local School District (ISD), and the local Community College district.

The table below breaks down the municipal tax rates alongside the typical combined rate (which includes McLennan County at ~$0.34, McLennan Community College at ~$0.13, and the local ISD rate):

City Municipal Tax Rate (per $100) Primary School District (ISD) Rate Est. Combined Rate (per $100) Est. Annual Tax on $300k Home
Waco $0.7550 Waco ISD (~$1.03) ~$2.254 ~$6,762
West $0.6300 West ISD (~$0.95) ~$2.130 ~$6,390
Lorena $0.5639 Lorena ISD (~$0.94) ~$2.064 ~$6,192
Hewitt $0.5391 Midway ISD (~$0.94) ~$1.949 ~$5,847
Lacy Lakeview $0.5325 Connally ISD (~$1.01) ~$2.013 ~$6,039
McGregor $0.5314 McGregor ISD (~$0.96) ~$1.961 ~$5,883
Robinson $0.5099 Robinson ISD (~$0.95) ~$1.927 ~$5,781
Bellmead $0.3824 La Vega ISD (~$1.05) ~$1.902 ~$5,706
Woodway $0.3638 Midway ISD (~$0.94) ~$1.774 ~$5,322

Source: McLennan County Tax Office and local ISD records. Property values are assessed by the McLennan Central Appraisal District. Homestead exemptions (up to 20% or $100,000 off school values) significantly reduce these nominal estimates for primary residents.

[!WARNING] Nominal vs. Actual Taxes: Be careful when looking at real estate listings or local guides. Many lists only cite the municipal (city) tax rate (e.g., $0.36 for Woodway or $0.75 for Waco). Your actual bill will include County and ISD taxes, pushing the actual combined rate to between 1.7% and 2.3% across McLennan County.

Note: Woodway's low municipal rate combined with a higher home price still produces a high dollar tax bill (~$7,200/yr on a median home). Waco's higher combined rate on a lower purchase price keeps the overall 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