Rent to own Homes in Waco, TX
Waco, Texas, is a city of over 124,000 with a rich and interesting history. It is the original home of the Dr. Pepper company and is also known as the notorious site of the 1993 Branch Dividian stand-off. Waco is located about halfway between Dallas/Fort Worth and Austin and is a nice moderate size. There's always plenty to do and you have everything you need, but it still feels enough like a small town where you can really enjoy life. Like almost all of Texas, the economy and housing market in Waco are very strong. Waco's unemployment is below the national average and the area never suffered from the 2008 recession to the same extent that other parts of the country did. The housing market also avoided facing any significant slumps. When President George W. Bush spent time at his Texas ranch, Waco was the site of his White House Press Center for briefing the media. Waco has a good quality of life, whether you're the former leader of the free world or just an average Joe.
Waco, TX is a great place for affordable rent-to-own homes! With a median household income of over $40,349 and a median rent of $879, the Waco, TX rent-to-own market is more affordable than the traditional housing market which has shown tremendous growth across the U.S. and with it, aggressive competition for home purchases. With the current housing shortage trend it can make it harder to become a homeowner, including in Waco, TX. This means higher than average down payments for homes and higher qualification standards for conventional home loans. With a rent-to-own property, tenants are also buyers. You can live in the house for a set amount of time before you purchase it, meaning that you get to know the house, your neighbors, and your community before making the final purchase. This enables you and your family to make the right choice based on both information and experience. Rent-to-own is also a great alternative way to get into a home if you have bad credit or don't have enough saved for a down payment.
More Waco, TX Property Resources
Rent to own Homes in Cities Near Waco, TX
- Abbott
- Aquilla
- Axtell
- Bellmead
- Beverly Hills
- Bruceville
- Bruceville-Eddy
- Chilton
- China Spring
- Crawford
- Eddy
- Elm Mott
- Gholson
- Golinda
- Hallsburg
- Hewitt
- Lacy-Lakeview
- Leroy
- Lorena
- Lott
- Marlin
- Mart
- McGregor
- Mc Gregor
- Moody
- Mount Calm
- Prairie Hill
- Riesel
- Robinson
- Ross
- Satin
- Troy
- Valley Mills
- Waco
- West
- Willow Grove
- Woodway
Neighborhoods in Waco, TX
Alta Vista rent to own homes Austin Avenue rent to own homes Baylor rent to own homes Brazos rent to own homes Brook Oaks rent to own homes Brookview rent to own homes Carver rent to own homes Cedar Ridge rent to own homes Dean Highlands rent to own homes East Riverside rent to own homesBuying a Home in Waco, TX
Waco, TX is seeing rapid growth and Waco, TX's' housing market remains optimal with an average home price that is -39% below the 2024 national average. Waco, TX is part of McLennan county and taxes are an important factor to consider when purchasing a home whether through rent to own or a traditional purchase. The average tax rate as of 2024 for county McLennan is 1.62% which is above the national average, which is 0.99%.
Median Home Price in Waco, TX
Median Rent in Waco, TX
Top Reasons to Live in Waco TX
Housing Statistics The housing market in Waco is very affordable. With a median price of $113,200, owning a home is within reach of many working families. Waco has more renters than the national average, with 48.47 percent of homes rented and 41.71 percent owned. This higher than average percentage of rental houses is great news if you want to avoid the headaches associated with ownership. However, if you do want to own a home and need non-traditional options, the widespread availability of rentals in Waco means that you can find alternatives such as rent to own homes. Since 9.81 percent of homes are vacant, your odds of finding one to meet your needs are very good.
Local Events There's always something fun to do in Waco. Texas is known for its Tex-Mex food, so why not check out the annual Margarita and Salsa Festival every August? You won't want to miss the Heart of Texas Wine and Food Festival and the Waco Cultural Arts Fest, either. You can also take in a show at the Ferrell Center at Baylor University or take the kids to the Waco Children's Theater. The city also hosts a lot of craft fairs.
Outdoor Activities Outdoor activities are big in Waco. Temperatures rarely get below 40 degrees even in the coldest months, so there's no real winter to speak of. You can enjoy the beautiful weather outdoors, especially in the parks around the Brazos River that runs through the center of town. If you love boating, you can spend a day on the beautiful Lake Waco Marina. But if you prefer hiking, check out Mother Neff State Park or Cameron Park.
Neighborhoods As with most places, the quality of the neighborhood school district plays a big part in your property values. Additionally, it can really help with settling on the right neighborhood for you when moving. Those with kids in school - or just people who want to keep their property values high - will be thrilled to know that there are many very highly rated school districts in the Waco area.