To suggest that the Waco housing market is hot right now might be an understatement. In fact, there is only one word that can even come close to summarizing the state of Waco’s real estate sector: unstoppable. Much like the rest of Texas, Waco’s housing market is firing on all cylinders. Waco is strategically positioned in between what Forbes magazine has deemed 3 of the fastest growing cities in the US right now; Houston, Dallas, and Austin.
Waco’s economy and housing sector are complimenting each other in such a way that is conducive to the growth of the city as a whole. Interested buyers are coming from all over the country to partake in the current expansion.The Waco area is home to approximately 300,000 people and population has shown strong and steady increases over the past 10 years. Most likely, younger people are being drawn to Waco because of the relatively low cost of living and drivable commute to the larger nearby cities. The cost of living in Waco is 16.1% lower than the rest of the state - and much lower than the national average. The job sector specifically is doing extraordinarily well. Top job categories in Waco are office, admin, sales, executive, and manufacturing. Over 3,000 new jobs are projected to enter the Waco market this year (see Hillstone’s Why Waco’ Prospectus for more information).
It has been said that the Waco housing market is in the middle of a “perfect storm.” The area’s strong economy continues to support supply and demand. Even with appreciation rates as high as they are now, homes in the Waco market are still affordable. Take note that experts have forecasted prices to rise over the coming months and for the next three years. Now may be one of the best times to get into one of the Hottest markets in the country.