Real Estate Investing in Waco, Texas (76708)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 76708 (Waco, TX)? Our answer, based on the numbers below.
Solid choice — stable market with a reasonable entry point and good rental backup if you ever need to move.
A cash-flow market — rent-to-price math works from day one, though value growth is modest. Great for income-focused investors.
- Elevated vacancy: 11.9% vacancy may signal weakening demand.
What’s happening in Waco, TX (76708)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 76708 Waco
This part of McLennan County is not an easy win. The 76708 ZIP clocks in at softness in key indicators, and the playbook that works in cleaner markets often stalls here.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $229K asset, 76708 is the wrong submarket. If the plan prices in friction, the yield can still work.
Regionally, 76708 sits on the difficult end of the TX spectrum. The a strong candidate for read — for disciplined operators — is that pricing reflects the difficulty.
The demographic picture in 76708 includes headwinds that any investor should price in. Income distribution skews lower than Waco averages, and tenant stability requires active management.
New investors are better served looking at Waco's stable or hybrid ZIPs before stepping into 76708. The learning curve here is expensive when the lesson is wrong.
Here's what matters if you're considering buying a home in Waco:
Property Strategy for 76708
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $104,053 | $1,000 | 6.9% | +6.6% | $104,053 |
| 2BR | $122,930 | $1,250 | 7.3% | +7.9% | $61,465 |
| 3BR | $225,545 | $1,610 | 5.1% | +7.3% | $75,182 |
| 4BR | $339,922 | $1,650 | 3.5% | +6.6% | $84,981 |
| 5BR | $404,848 | — | — | +6.2% | $80,970 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 76708 Compare?
| Metric | 76708 | Waco | Waco, TX | Texas |
|---|---|---|---|---|
| Home Value | $229,185 | $120,642 | N/A | $297,000 |
| 5-Year CAGR | 4.2% | 4.2% | N/A | 5.4% |
| Avg Rent | $1,620 | $1,382 | N/A | - |
| Cap Rate | 5.5% | 5.9% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 76708 (Waco, TX). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $229,185 |
| Monthly Rent | $1,620 |
| Price-to-Rent | 11.8:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 8.5% |
| Cap Rate | 5.5% |
| 5-Year IRR | 9.7% |
📈 Home Appreciation
| 1-Year | +2.3% ▲ |
| 3-Year CAGR | -0.2% ▼ |
| 5-Year CAGR | +4.2% ▲ |
| 10-Year CAGR | +8.0% ▲ |
🏠 Rent Trends
| 1-Year | +5.4% ▲ |
| 3-Year CAGR | +3.5% ▲ |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (5.5%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 76708
Population: 27,679
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 76708
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 5,693 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Is Waco, TX a good market for buy-and-hold investors?
Waco, TX scores 3.0/5 for investability. Home values sit at $229K and rents near $1,620/mo, which keeps the rent-to-price ratio in reasonable territory for buy-and-hold investors.
What are vacancy rates like in Waco, TX?
Waco, TX carries elevated vacancy risk. Expect even-keeled absorption at market rents of $1,620/mo.
Are tenants stable in Waco, TX?
The tenant pool in Waco, TX is solid, supported by local employment and population fundamentals. Rents of $1,620/mo are well-absorbed by the market.
Can I live-in-and-rent in Waco, TX?
Waco, TX is a a challenging market for house hackers. FHA or conventional owner-occupant buyers find the $229K price point reasonable to enter.
What do rentals go for in Waco, TX?
Waco, TX rentals go for roughly $1,620/mo a month. That puts gross yield in solid territory relative to $229K acquisition costs.
You know 76708 now. You don’t know where it ranks.
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How 76708 ranks in Waco, TX
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