The typical owner-occupied home in Waco is worth about $92,500, 68% below the North Carolina median of $288,900 and 72% below the national median of $332,700. Owners pay a median $571 a year in property taxes, about 0.62% of their home's value, lower than the North Carolina rate of 0.66%. 86% of occupied homes here are lived in by their owners, and 46% of those owners still have a mortgage.
Waco at a glance
| Waco | North Carolina | U.S. | |
|---|---|---|---|
| Median home value | $92,500 | $288,900 | $332,700 |
| Median property tax paid per year | $571 | $1,896 | $3,119 |
| Property tax as a share of value | 0.62% | 0.66% | 0.94% |
| Median household income | – | $72,388 | $80,734 |
| Homes lived in by their owners | 86% | 67% | 65% |
| Owner homes with a mortgage | 46% | 61% | 61% |
| Median monthly costs, owners with a mortgage | $858 | $1,631 | $1,963 |
| Those costs as a share of the owners' income | 14.5% | 19.4% | 21.0% |
| Median rent | – | $1,228 | $1,413 |
| Median year homes were built | 1964 | 1991 | 1980 |
| Vacant homes | 33.3% | 12.5% | 10.1% |
| Population | 171 | 10,730,404 | 334,922,499 |
What a typical home costs per month in Waco
At this week's average 30-year rate of 7.11%, buying the median Waco home of $92,500 with 20% down costs about $584 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $738, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $25,034 for the 20%-down payment.
| Down payment | $18,500 |
|---|---|
| Loan amount | $74,000 |
| Principal and interest | $498 |
| Property taxes (0.62% a year) | $48 |
| Homeowners insurance (our estimate, 0.5% a year) | $39 |
| PMI | $0 |
| Total per month | $584 |
Change the numbers in the calculator
| Down payment | $3,238 |
|---|---|
| Loan amount | $90,825 |
| Principal and interest | $611 |
| Property taxes (0.62% a year) | $48 |
| Homeowners insurance (our estimate, 0.5% a year) | $39 |
| FHA mortgage insurance | $41 |
| Total per month | $738 |
Change the numbers in the calculator
Questions about home buying in Waco
What is the median home value in Waco?
About $92,500 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Waco?
Homeowners pay a median $571 a year, which is about 0.62% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Waco?
For the median home with 20% down at 7.11%, the payment is about $584 a month. Keeping that under 28% of gross income takes about $25,034 a year.
More about Waco
- Mortgage Refinance in Waco
- Debt Relief in Waco
- Home Equity Loans in Waco
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data