Quick facts: Waco, TX

Quick Facts

95.3
Cost of Living
below US average
143,984
Population
37.89
Crime Rate per 1000
above US average
$47,421
Median Income
below US average
$292,450
Median House Price
above US average
$1288
Average Rent
below US average
21%
Poverty Rate
above US average
4.7%
Unemployment Rate
above US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $47,421.

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Income Needed to Buy

βœ— Stretch
$92k/year
Based on $292,450 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $92k vs median $47,421
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Income Needed to Rent

⚠ Stretch
$55k/year
Based on $1288/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $55k vs median $47,421
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Waco, TX

Waco, Texas, located in the heart of the state, is known for its rich history, vibrant culture, and as a hub for education and industry. Situated along the Brazos River, Waco is home to several notable attractions, including the famous Magnolia Market at the Silos, founded by Chip and Joanna Gaines of "Fixer Upper" fame, drawing visitors from all over. The Dr Pepper Museum, celebrating the city's historic soft drink, and the Texas Ranger Hall of Fame and Museum further highlight the city's unique charm. Waco is also known for its beautiful parks, such as Cameron Park, which offers hiking trails, biking paths, and scenic overlooks. Additionally, the city boasts a strong educational presence with institutions like Baylor University, one of the oldest universities in Texas, contributing to the area's vibrant community and cultural events. With a population of around 140,000, Waco combines the warmth of small-town life with the amenities of a larger city. Its central location makes it a convenient stop between Dallas and Austin, offering a blend of Southern hospitality and Texan pride. Whether exploring its historical sites or enjoying local dining and shopping, Waco has something for everyone.

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