The story of this market
The typical home in ZIP 76706 sells for about $283,700, or $178 per square foot.
Prices are down 2.1% from a year ago, which gives buyers more room to negotiate. Homes take about 70 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $1,250 a month.
ZIP 76706 — Waco
The 76706 housing market is currently experiencing a period of stabilization, with a median sale price of $283,700 and a balanced inventory level. While year-over-year prices have seen a slight decline, the market remains active due to consistent demand from the university-adjacent population. Buyers are finding more leverage than in previous years, as evidenced by the 22% share of listings with price cuts.
This ZIP is well-suited for students, faculty, and first-time homebuyers looking for proximity to the university and downtown amenities at a more accessible price point than newer suburban developments.
Median prices moved down 2.1% year over year.
Homes spend a median of 70 days on market with 3.2 months of supply — a fast-moving market.
22% of listings have cut prices · homes sell at 97.1% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 4.5% · poverty 25.0% — a mixed stability profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 10.6%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 8.3%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
net influx — more people moved in than out
ZCTA 76706, McLennan County TX
Schools in the area are primarily served by Waco ISD, which faces ongoing challenges with academic performance and district-wide accountability ratings.
The area is subject to standard Texas climate risks, including potential for severe thunderstorms and localized flooding in low-lying zones near the Brazos River.
Economic momentum is driven by the expansion of Baylor University, the growth of the local healthcare sector, and ongoing revitalization efforts in downtown Waco.
Composed from the ARED governance burden registry — tier-native tax structure (state + county + city + special districts), never averaged. State (Texas) — Senior (65+) and Disabled Homestead Exemption and School Tax Ceiling: Grants an additional mandatory $10,000 exemption from ISD appraised value (Taxable Value_ISD = Appraised Value - $100,000 - $10,000) and establishes an absolute statutory tax freeze (school tax ceiling): total ISD property taxes cannot exceed the dollar ceiling established in the… State (Texas) — General Residence Homestead Exemption and 10% Valuation Growth Cap: Imposes mandatory state-level valuation deductions and growth limitations on the qualifying homestead: (1) Mandates a $100,000 deduction from appraised value for independent school district (ISD) maintenance and operations/debt taxation: Taxable Value_ISD = Appraised Value - $100… State (Texas) — Ad Valorem Real Property Taxation and Assessment Ratio: Mandates ad valorem appraisal of all real property at 100% of fair market value as of January 1 each tax year (Assessment Ratio = 1.00).
Residents typically rely on personal vehicles for commuting, with easy access to I-35 providing a direct corridor to major employment hubs in the region.
The area features significant access to Cameron Park, one of the largest municipal parks in Texas, along with proximity to the Brazos River and local cultural landmarks like the Magnolia Market.
The rental market is influenced by a high student population from nearby universities, maintaining steady demand despite fluctuations in broader market inventory.
The economy is anchored by Baylor University, the healthcare sector (Baylor Scott & White), and a growing tourism industry centered on downtown attractions.
The area is served by a network of local roads and is bisected by I-35, which serves as the primary transit artery for the region.
Ongoing urban infill projects and infrastructure improvements are focused on connecting the university district with the downtown core.
The McLennan County Appraisal District manages property assessments, utilizing annual market value adjustments to reflect current real estate trends.
Parcels are subject to Waco ISD taxes, as well as municipal and county levies; some areas may fall within specific utility or flood control districts.
Property insurance premiums in the region have seen upward pressure due to increased regional weather volatility and rising replacement costs.
Data retrieved from US Census Bureau ZCTA-level tables.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
- Waco Surf4.311.9 mi
- Camp Fimfo Waco4.511.3 mi
- Hawaiian Falls Waco411.1 mi
- Urban Air Trampoline and Adventure Park4.17.9 mi
- Chuck E. Cheese3.97.7 mi
- McLane Stadium4.77.5 mi
- Camp Fimfo Waco4.511.3 mi
- Waco Convention Center4.57.9 mi
- Extraco Events Center4.48.9 mi
- The Backyard Bar Stage and Grill4.47.4 mi
- Dr Pepper Museum4.47.7 mi
- Cameron Park Zoo4.69 mi
- Silos at Magnolia4.67.5 mi
- Waco Mammoth National Monument4.712.1 mi
- Cinemark Waco and XD4.55.7 mi
- Dr Pepper Museum4.47.7 mi
- Waco Mammoth National Monument4.712.1 mi
- Mayborn Museum Complex4.87.1 mi
- Mount Carmel Center4.210.8 mi
- Texas Ranger Hall of Fame & Museum4.77.4 mi
- Waco Mammoth National Monument4.712.1 mi
- Cameron Park4.810.1 mi
- Woodway Park4.610.6 mi
- Jacob's Ladder4.79.6 mi
- Whitehall Park4.78.9 mi
- Lake Waco Marina & RV Park4.311.6 mi
- Topgolf Waco4.15.7 mi
- Cottonwood Creek Golf Course4.36.4 mi
- Putters: Arcade - Mini Golf - Sports Bar4.47.7 mi
- Bear Ridge Golf Club3.612.4 mi
- Battle Lake Golf Course4.211.8 mi
- Magnolia Market4.47.5 mi
- Richland Mall4.18.1 mi
- Ross Dress for Less4.25.8 mi
- Spice Village4.67.8 mi
- Marshalls4.35.8 mi
- Waco Regional Airport4.114.2 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
A major regional zoo located along the Brazos River.
A nationally recognized retail and tourism destination.
Historical museum celebrating the origins of the Dr. Pepper soft drink.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.