Real Estate Investing in McLennan County, Texas

Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.

17 ZIP codes • Population: 246,861

Should you buy in McLennan County, TX? Our answer, based on the numbers below.

🏠 For Homebuyers
GOOD FIT
Grade B (70/100)

Solid choice β€” stable market with a reasonable entry point and good rental backup if you ever need to move.

πŸ“ˆ For Investors
MIXED
3.1 / 5 (53/100)

A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.

⚠️ Risks to Know
1 flag
  • Elevated vacancy: 10.6% vacancy may signal weakening demand.

What’s happening in McLennan County, TX?

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3.1/ 5

Investability

County-wide average

3.0/ 5

Appreciation

4.1% 5yr CAGR

5.0/ 5

Landlord Climate

Regulatory friendliness

Avg Investability β˜…β˜…β˜…β˜…β˜…
Avg Home Value $274,710
Avg Monthly Rent $1,447
ZIP Codes 17

Investing in McLennan County Real Estate

This is a distressed-leaning county in Texas: McLennan has 11 cities, 17 ZIPs, and investment math that only works for investors with genuine local understanding.

A 3.1 rating and a 0.0% 5-year CAGR are the kinds of numbers that warrant real local underwriting. McLennan County sits firmly in that category.

Population dynamics in McLennan haven't been supportive. a harder case for combined with thin income growth, the demographic backdrop complicates any purely financial underwriting.

A great house in the wrong ZIP is still a bad deal — screen every market by cash flow & cap rate.
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Landlord Ground Truth

Real numbers from people who own or manage rentals in McLennan County, TX. Anonymous, moderated, never written by AI.

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Avg Home Value
$274,710
Avg Monthly Rent
$1,447
1% Rule
βœ— Below
Landlord Friendly (TX)
β˜…β˜…β˜…β˜…β˜…

πŸ“‰ Market Crash Risk Index

Based on Waco, TX metro

4/10
Moderate Risk
Price YoY
0/3
N/A
Rent YoY
0/2
N/A
Below List
2/3
64%
Days Pending
2/2
74 days

View all metro crash risk rankings β†’

πŸŽ“ Colleges & Universities in McLennan County

4 Colleges 39,682 Students 5,693 Off-Campus Renters
B
Baylor University
4-Year Private Β· 20,824 students
C+
Texas State Technical College
2-Year Public Β· 11,436 students
πŸ“ ~3,110 students rent off-campus
C
McLennan Community College
2-Year Public Β· 7,217 students
πŸ“ ~2,583 students rent off-campus
D
Southern Careers Institute-Waco
2-Year For-Profit Β· 205 students

Investor Insight: With 5,693 students living off-campus, McLennan County has substantial rental demand from the college population β€” typically stable, lease-renewing tenants.

Cities in McLennan County

ZIP Codes in McLennan County, TX

76706 β˜… β˜… β˜… β˜… β˜…
Waco
Population 40,668
Avg Home $253,884
Avg Rent $1,421/mo
76705 β˜… β˜… β˜… β˜… β˜…
Lacy-Lakeview
Population 31,750
Avg Home $213,133
Avg Rent $1,390/mo
76712 β˜… β˜… β˜… β˜… β˜…
Woodway
Population 28,719
Avg Home $354,264
Avg Rent $1,796/mo
76708 β˜… β˜… β˜… β˜… β˜…
Waco
Population 27,679
Avg Home $229,185
Avg Rent $1,620/mo
76710 β˜… β˜… β˜… β˜… β˜…
Waco
Population 23,270
Avg Home $249,594
Avg Rent $1,171/mo
76707 β˜… β˜… β˜… β˜… β˜…
Waco
Population 16,602
Avg Home $141,257
Avg Rent $1,363/mo
76643 β˜… β˜… β˜… β˜… β˜…
Hewitt
Population 16,244
Avg Home $300,564
Avg Rent $1,625/mo
76657 β˜… β˜… β˜… β˜… β˜…
Mc Gregor
Population 12,770
Avg Home $335,277
Avg Rent $1,573/mo
76711 β˜… β˜… β˜… β˜… β˜…
Waco
Population 9,631
Avg Home $141,572
Avg Rent $1,341/mo
76655 β˜… β˜… β˜… β˜… β˜…
Lorena
Population 9,572
Avg Home $348,772
Avg Rent $2,288/mo
76704 β˜… β˜… β˜… β˜… β˜…
Waco
Population 7,387
Avg Home $112,314
Avg Rent $1,423/mo
76633 β˜… β˜… β˜… β˜… β˜…
China Spring
Population 6,037
Avg Home $412,279
Avg Rent $1,476/mo
76689 β˜… β˜… β˜… β˜… β˜…
Valley Mills
Population 4,421
Avg Home $334,941
Avg Rent $1,116/mo
76682 β˜… β˜… β˜… β˜… β˜…
Riesel
Population 3,559
Avg Home $259,547
Avg Rent $1,197/mo
76664 β˜… β˜… β˜… β˜… β˜…
Mart
Population 3,425
Avg Home $154,438
Avg Rent $1,116/mo
76638 β˜… β˜… β˜… β˜… β˜…
Crawford
Population 3,395
Avg Home $509,154
Avg Rent $1,350/mo
76701 β˜… β˜… β˜… β˜… β˜…
Waco
Population 1,732
Avg Home $319,901
Avg Rent $1,334/mo

Screen every market in McLennan County

Filter this county’s ZIPs by cap rate, vacancy, appreciation and 30+ more criteria, and export your shortlist to CSV — with the Investor plan ($19/mo). Add weekly alerts when these markets move with Investor Pro+.

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Frequently Asked Questions About McLennan County

How expensive is real estate in, TX?

In, TX the median home value sits at $275K. Against the broader TX market, that reads as reasonable for most investors.

How much is rent in, TX?

Average rent in, TX is approximately $1,447/mo per month. Against $275K home values that yields a reasonable rent-to-price ratio.

What is the tenant pool like in, TX?

, TX draws a reliable base of working renters. Demand at the $1,447/mo rent level is reasonable for standard single-family and small multi rentals.

What is the best play in, TX?

Investors who focus on careful cash-flow rentals with hands-on management typically do well in, TX. The numbers - $275K homes against $1,447/mo rents - support that play.

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