WACO, Texas (KXXV) — Apartment List's updated statistics through March 2025 give renters in Waco a positive outlook before peak renting season hits.
- Rents in Waco fell 1.9% in March compared to a 0.6% increase nationwide.
- Year-over-year rent growth in Waco now stands at +1.8%, up from -5.6 % one year ago.
Today, the median rent in Waco is $913.00 for a one-bedroom apartment and $1,143 for a two-bedroom apartment.
BROADCAST TRANSCRIPT:
In Apartment List’s rent report through March of this year, rents went up 0.6%nationwide.
But for Waco, rent went down nearly two percent. How can this be?
“You know developments continue to finish, developments continue to pick up and take place and as these developments finish, that just only increases the rental inventory and, we have seen less people moving into the Waco market, especially less out of state buyers and potentially less out of state renters as well and so, with a decrease in renters like that, in our market slowing down a little bit, and inventory continues to be built, we're having a competition for the current renters we have in the market, which is less than it was before,” Chris Meza said, Manager Partner and Realtor for Carbajal Realty, Inc.
Year-over-year rent growth is now at +1.8%, a positive development as it was -5.6 % just a year ago.
“What that means is, new developments are taking place, they're completing and they're raising our rent market, even though it's slowly, decreasing from last year. Over the last few years, we've certainly seen developments take place here in Waco. You can't miss them,” Meza said.
“As they come out, their rental prices are higher than what we've typically seen in the Waco area, so that's just continuing to raise our market slowly, even though we've seen a slight decrease over the last year or so in other portions of the market,” he said.
The median rent price for a one-bedroom apartment in Waco right now is around $913.00, but don’t be surprised if that goes up a little bit as the summer months approach.
“If you want to be a proactive tenant or a proactive buyer, I would just advise you to keep an eye on the market, uh, know your lease, know your situation, and just month to month keep an eye on the situation as it continues to unfold,” Meza said.
