Median Age
32 Years
Largest Age Group
20-29 Years
Approximately 20% of Residents
Under 20
27%
Over 65
14%
Avg Rent
$1,093
Population
153,923
Renter Mix
55% Rent
Where Dr Pepper was born, Baylor cheers ring out, and the Brazos River ties it all together, Waco blends small-city Texas charm with a cultural cachet. Roughly halfway between Dallas and Austin -- about 90 miles from each -- this McLennan County seat offers a smaller-town atmosphere without the price tag of a major metro. Tree-lined Castle Heights, the walkable streets surrounding Baylor University, and the residential communities of Woodway each offer their own pace of daily life, from quiet evenings on the porch to weekend afternoons at Magnolia Market at the Silos downtown.
The rental stock covers a wide range of styles and price points. Downtown and the Baylor corridor feature mid-century bungalows converted into rentals, historic apartment communities, and newer loft-style units. Farther out, townhomes and spacious ranch-style houses fill the neighborhoods near Woodway and along the Lake Waco shoreline, while high-rise options provide walkable access to campus or the river.
Baylor University, the oldest continually operating university in Texas, anchors the local economy alongside major healthcare systems, and its roughly 20,000 students swell the population each fall -- homecoming weekend alone draws more than 40,000 people to the city. Healthcare, higher education, and manufacturing form the backbone of Waco's job market, and the city's affordability makes it an accessible landing spot for anyone relocating to Central Texas.
The Dr Pepper Museum is in the original bottling plant built in 1906.
The Hippodrome Theater is located in Downtown Waco
A mammoth fossil at the Waco Mammoth National Monument
Built in 1901, the McLennan County Courthouse is a National Historic Landmark
Median Household Income
$49,750
Average: $69,149
Education
34,734
Residents Have a Degree
Job Market
71,309
Workers Employed
Median Age
32 Years
Largest Age Group
20-29 Years
Approximately 20% of Residents
Under 20
27%
Over 65
14%
Housing Distribution
Waco has more renters than homeowners.
Education Distribution
Review this city's overall education levels.
As of September 2026, the average apartment rent in Waco, TX is $1,011 for a studio, $1,093 for one bedroom, $1,400 for two bedrooms, and $1,495 for three bedrooms. Apartment rent in Waco has increased by 3.3% in the past year.
The cost of living in Waco, TX is 9.9% lower than the national average. Generally, housing in Waco is 19.9% less expensive than the national average, with rent falling between $1,011 - $1,495. You can expect to pay 7.9% less for groceries, 0.5% less for utilities, and 9.4% less for transportation.
Compare Cities
Explore how walkable, bikeable, drivable, and transit-friendly Waco, TX is for everyday living.
Fairly Walkable
Walkability
Exceptionally Drivable
Drivability
Fairly Bikeable
Bikeability
South Bosque Elementary School
Public
Grades PK-5
578 Students
Public
Grades PK-5
541 Students
China Spring Elementary School
Public
Grades K-5
613 Students
Public
Grades PK-5
532 Students
Speegleville Elementary School
Public
Grades PK-5
226 Students
Public
Grades PK-8
733 Students
Public
Grades PK-12
263 Students
Public
Grades 6-8
183 Students
Public
Grades 6-8
999 Students
Public
Grades 6-8
999 Students
Public
Grades 9-12
2,684 Students
Public
Grades 9-12
227 Students
Paul And Jane Meyer Public High School
Public
Grades 9-12
233 Students
Public
Grades PK-12
263 Students
Public
Grades 9-12
125 Students
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© 2026. All rights reserved.
† Our analysis of utilities, groceries, transportation, healthcare, home prices, and other goods and services is sourced from the Cost of Living Index, a respected benchmark published by the Council for Community and Economic Research (C2ER) that provides a thorough overview of living expenses across different regions.
Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
Consumer goods, services, and home prices are sourced from the Cost of Living Index published by the Council for Community and Economic Research (C2ER). The data on this page is updated quarterly. It was last published in September 2026.
Demographic information comes from Neustar and combines detailed address data with U.S. Census and American Community Survey statistics to produce reliable local estimates.