The Waco metro is home to 299,217 people (up 12.6% over five years), with a median household income of $63,880. Typical rent of $1,419/month works out to 26.7% of the median household income — near the 30% affordability threshold (Census ACS + Zillow, September 2026).
The share of Waco's workforce by sector — the base of tenant demand:
| Sector | % of workforce |
|---|---|
| Education & health care | 25.6% |
| Retail trade | 12.0% |
| Manufacturing | 10.8% |
| Arts, food & hospitality | 8.6% |
| Professional & management | 8.3% |
Education & health care is the metro's largest employment base — sectors like education and health care are recession-resilient anchors for rental demand.
Rents at 26.7% of median income leave moderate headroom; underwrite rent growth conservatively. Market pricing, yields and the Star Score live on the Waco market page; run a deal in the calculator.
At the 30%-of-income affordability rule, typical rent of $1,419/month suggests a household income around $57,000/year. The metro's median household income is $63,880.
By workforce share: Education & health care (25.6%), Retail trade (12.0%), Manufacturing (10.8%) (Census ACS 5-year).