The thriving economy is attracting workers to the state in droves; Texas is expected to add 1.4 million new jobs over the next five years. The impact is already being felt in towns and cities across the region, especially in the real estate sector.
According to Zillow data, Waco saw a whopping 10.7% increase in its median home values between 2017 and 2018. Austin Avenue is one of Waco’s most architecturally diverse and historically rich neighborhoods.
It’s a moderate-income area that’s home to local politicians, Baylor University faculty members, and even prominent regional artists. More than two dozen homes have also been selected as being “architecturally significant” by the Texas Historic Commission.
In addition to some grand and historic homes in the neighborhood, there are also many condo units and studio apartments dotted throughout the area. Brook Oak is heavily populated by young families and its median home value is significantly lower at $92,000.
The relatively low home values present an excellent opportunity for investors with the average rent bringing in more than $977 per month. The mixture of residents is evenly split between renters and property owners.
But there are also some historic homes and good opportunities for people wanting to flip properties. Price ranges in the neighborhood are wide-ranging, but it’s not uncommon to find an older two-bedroom house for less than $90,000.
Waco’s downtown is not that big, especially when you compare it to other Texas cities like Houston and Dallas. This is also the spot where Dr. Pepper was invented and is now the site of a museum dedicated to the history of the soft drink.
The area is a good mix of residential and commercial buildings and is filled with restaurants, live music spots, and shops creating a good urban environment that has a more relaxed pace. It is relatively affordable, though homes in West Waco tend to be significantly more expensive than in other parts of the city.
The neighborhood is known for its good public schools, well-manicured lawns, and low crime rate. Residents fought annexation back in the 20th century and that helped forge close community ties that remain to this day.
It was an example of the City Beautiful Movement, an urban philosophy that tried to link social issues to architectural design in the last century. You’ll find many homes built during the construction boom after World War II.
The real estate market in Waco is a great opportunity for investors and buyers looking for a new home. The market is steady and home prices are still affordable for the new workers entering the state every day.
Clever Partner Agents have complete access to MLS listings so that connect thousands of buyers with sellers daily. Clever partners with top real estate agents from major companies like Keller Williams, Century 21, and RE/MAX.
Ranking based on data from the U.S. Census, FBI, BLS, CDC, and other sources. The map above shows median home prices by block for Waco and surrounding areas such as Beverly Hills and Robinson.
Compared to a city sampling of places with similar populations, homes cost less. The chart below shows Waco home prices compared to the United States average and locations with similar populations such as Santa Clara, CA.
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Waco has experienced a resurgence in the few years since Chip and Joanna Gaines started appearing on Fixer Upper. You won’t pay any more when you use these, but I will earn a small commission on any purchases you make after clicking on them and I greatly appreciate it.
If you’re driving down to Waco from the Dallas area, stop in Waxahachie for even more vintage and antique shops! Even though we grew up nearby, all my family learned some new things about Waco that day.
I’d love to know all about your Magnolia Market road trip and what you enjoyed doing in Waco ! Hit the Next Page button above to go to our next article about things to do in Waco.
While you’re in town, you have to go to the Dr Pepper Museum to learn how the oldest major soft drink on the market was invented in 1885. Explore dozens of exhibits showcasing Texas’s top players in football, basketball, tennis and more.
Waco is full of history and a great place to brush up on all the details is at the May born Museum on the Baylor University campus. You’ll find exhibits about Waco’s history as a Mammoth hangout to the various sea animal fossils found in the area.
It was once the world’s longest single pass suspension bridge when it was built, but now it’s a great way to take in the beauty of the Brazos River and downtown Waco. You know what this is…it’s like a “Fixer Upper” Disneyland where you can buy every design thing you’d ever need, eat from local food trucks, hang out on the lawn or grab a cupcake from the bakery.
Clint Harp is more than just the beloved carpenter of “Fixer Uppers,” he’s an artist who handcrafts incredible woodwork. Stop by his store to see his crafted creations, from kitchen items to expertly carved furniture.
True to their name, the “Fixer Uppers” Chip and Jo took the historic Elite Café, and turned into a new, yet still, iconic Waco restaurant. If you’ve ever wondered how Ship lap Cupcakes taste, you need to hit up this bakery, because (spoiler alert) they’re delicious.
You don’t have to be a college student to enjoy the hand-tossed, cheesy pizzas with gourmet toppings at this local favorite. Hike to the top of Lover’s Leap or Commons Cliff to see breathtaking panoramic views of the Brazos and Mosque Rivers.