What it actually costs to live in Waco right now.

The numbers

Apartment List figures are medians on new leases; it did not publish a 1-bedroom or 2-bedroom split for Waco this month. RentCafe figures are averages for large managed buildings, which run newer and pricier. We show both so you can see the range.

The tax rows above apply inside Waco ISD. Parts of Waco sit in Midway, China Spring or other districts with different school rates, and Waco ISD homesteads get the $140,000 school exemption ($200,000 if 65 or older). The city’s adopted 2026 rate was not posted when we checked, so we show its two benchmark rates instead.

Neighborhood rents

Average rent across all unit sizes in large managed buildings, from RentCafe (as of Oct 1, 2026). Newer complexes near Baylor and the river push some areas up; these are not 1-bedroom prices.

Citywide, RentCafe’s large-building average is $1,381, up 0.76% from a year earlier.

What makes Waco different

Rents are rising here while they fall elsewhere

Waco’s median rent is up 5.0% so far in 2026, against small declines statewide. Part of the pressure is Baylor: the university has grown about 23% over the last decade, and local economists told the Baylor Lariat in January 2026 that housing supply has not kept pace. If you are renting near campus, expect to compete with students for the August lease cycle.

Tourism is a real part of the economy

Since Fixer Upper and Magnolia Market at the Silos made Waco a destination, visitors have become a major industry. The Waco Convention & Visitors Bureau counted $783 million in direct travel spending in 2022, up 12% from 2021. That is older data, and no source we found ties it directly to home prices, but it helps explain why short-term rentals and new hotels are common near downtown.

Electricity is a shopping decision

Waco is in the competitive ERCOT market, with Oncor as the wires company. You pick a retail plan, and Oncor’s delivery charges are passed through on every bill. Oncor’s rate case raised those charges in mid-2026, and Oncor can also add a separate surcharge for the gap between January 1, 2026 and when the new rates started (Oncor).

Out-of-date numbers you’ll still find online

Same everywhere in Texas

No state income tax, the 8.25% sales tax ceiling, the $140,000 homestead exemption, vehicle fees and insurance averages are on our Texas taxes and pay page and the Texas overview. For how ERCOT plan shopping works, see Texas electricity; for exemptions and protests, see Texas property taxes. To see Waco next to Austin, Dallas and the rest, use the city comparison.

Coming soon: the Census Bureau released 2025 ACS 1-year estimates on Oct 29, 2026. We will swap in Waco’s 2025 income figures once we have checked them. The City of Waco’s adopted 2026 tax rate will also be added.

How we check

Every figure links to its source and shows the date it applies to. We prefer the agency that produces the number, such as McLennan County, the City of Waco, Census and BEA, and we label anything from a retailer, marketplace or aggregator. Where we add numbers together, we say so. Read the full methodology.