Waco, TX · Texas
McLennan County
ZIP 76704
263,608 residents1,374 permits TTM$63,888 median HHI20 ZIP codesUpdated April 16, 2026
Investor first look
Median home value
$219,200
ACS 5-Year
Cap rate proxy
6.1%
FMR × 0.65 ÷ Home Value
Rent-to-income
20.8%
HUD FMR ÷ ACS HHI
Net migration
+1.36%
IRS SOI
Permits (TTM)
1,374
Census BPS
Climate risk
91.2
FEMA NRI (0–100)
ZIP 76704
Median home value
—
Gross yield
—
Cap rate
12.0%
Rent gap
—
Affordability
P/I: 1.7R/I: —
Section 8 detail
SAFMR: —Rent: —Gap: —
ZIP code breakdown20 ZIP codes
| ZIP | Median home value | Rent (FMR 2BR) | Gross yield | Cap rate | Rent gap |
|---|---|---|---|---|---|
| 76704 | — | — | — | 12.0% | — |
| 76707 | — | — | — | 12.7% | — |
| 76711 | — | — | — | 11.2% | — |
| 76705 | — | — | — | 7.4% | — |
| 76640 | — | — | — | 6.1% | — |
Ranked by composite score
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Demographics
Owner-occupied
61.2%
Census ACS
Vacancy rate
10.5%
Census ACS
Bachelor's degree +
27.8%
Census ACS
Rent burdened
51.3%
Census ACS (>30% income)
Median age
34.0
Census ACS
U.S. Census Bureau — American Community Survey 5-Year Estimates
U.S. Census Bureau — Building Permits Survey
U.S. Department of Housing and Urban Development — Fair Market Rents / Small Area Fair Market Rents (SAFMR)
Internal Revenue Service — Statistics of Income Migration Data
FEMA — National Risk Index
Last updated: April 16, 2026