Affordable & Income-Based Housing in Waco

Affordability in Waco, TX

According to Census ACS 5-Year data (as of 2024), the median gross rent in Waco is $1,165 per month and the median household income is $54,365 per year, with renters making up 51% of occupied households. Affordable housing options can help close the gap for residents whose incomes fall below the area median.

Safety

According to the Waco Police Department's data reported to the FBI Crime Data Explorer, Waco had a violent crime rate of 429 per 100,000 residents in 2024. Keep in mind that crime rates are not directly comparable across cities due to differences in reporting practices and definitions.

Getting Around Waco

According to Walk Score, the area around Waco's assisted properties scores 56 out of 100 (Somewhat Walkable), with a Bike Score of 43 out of 100. No Transit Score was available. These scores reflect conditions near the assisted properties, not the city as a whole.

Schools

Waco is served by 68 schools across 21 districts, including 28 elementary, 8 middle, 20 high, and 12 other schools, according to NCES Common Core of Data. Ratings vary by school and district, so renters should check the assigned schools for a specific address.

Cost of Renting in Waco

The median household income in Waco is $54,365 per year, according to Census ACS 5-Year data. With a citywide median rent of $1,165 per month (Census ACS 5-Year), income-based housing can make a meaningful difference for renters whose costs would otherwise strain that budget.

Lease Lantern tracks 8 HUD-assisted or income-restricted properties in Waco, totaling 1,062 units. Rent at these properties is tied to your income rather than the market rate, which can lower your monthly housing costs significantly.

• Citywide median rent: $1,165/month (Census ACS 5-Year)
• Median household income: $54,365/year (Census ACS 5-Year)
• Share of residents who rent: 51% (Census ACS 5-Year)
• Income-restricted units tracked: 1,062 across 8 properties

Eligibility for income-based housing is generally based on your household size and gross income relative to area median income limits set by HUD. Check individual property listings for current income and rent limits.

Environment & Flood Risk

All 8 HUD-assisted properties in Waco have been mapped for flood zone exposure. Of those, 1 property falls in a high-risk flood zone. Renters interested in that property should ask management about flood insurance requirements and any mitigation measures in place.