Housing Report for Waco

In Waco, the census reported 89,797 housing units in the year 2005. This represents a medium level of growth in the number housing units, adding a sum of 3,978 housing units since the year 2001, or 4.6 percent.

The residential real estate values in Waco, Texas have seen large increases from the housing values in 2000. The residential values have increased by $21,500, or 31.8 percent, from 2000 when they had reported median values of $67,700.

Looking across the State of Texas, Waco stands 13 of the 25 metro areas in terms of percentage growth in new housing structures. The metropolitan statistical area (msa) ranks 208 of 361, when comparing the change in housing structures in other metropolitan areas throughout the nation.

Waco had a median home value in the year 2005 of $89,200, according to the American Community Survey. This home value is less than the overall State of Texas 2005 median owner-occupied dwelling value of $106,000 and less than median home value of $167,500 across the nation during that year.

Waco is made up of a medium proportion of residential real estate that is high priced. During the year 2005, the American Community Survey reports that 1.5 percent of the areas residential property was valued over $500k.

There seems to be a large amount affordable residential real estate in Waco, Texas. In 2005, 69.3 percent of housing was valued under $125k.

Data Source: U.S. Census Bureau

Employment Report for Waco, Texas -- Annual 2005 Industry Summary

A well-paying sector in Waco is the utilities industry with wages that annually pay $66,733. Locally, since the year 2001, the annual average wages in the industry have grown by 45.6 percent or $20,905. The State of Texas shows a similar employment climate in the utilities industry, falling near the top of sectors according to average 2004 industry pay.

Mining is the industry that has grown the most in terms of employment from 2001-2005 in Waco, changing a total of 68.5 percent. This is greater than the United States industry change in employment of 4.7 percent. The State of Texas underwent a employment change in the industry of 8.9 percent, in the recent period of 2001-2005.

Administrative and waste services since the year 2001 was faced with the largest loss in employment in the Waco MSA. The sector faced a loss of 611 employees during the period, or 10.6 percent of employment in the sector. These losses made up 25.7 percent of all employment losses in the Metro Area.

In Waco, Educational services, Utilities and Manufacturing industries have the highest United States location quotient (LQ). The Educational services sector has a United State LQ of 1.82. In other words, the percent of total jobs in the Educational services industry is 1.82 times greater than the US average, showing signs that Waco specializes in Educational services.

Educational services has a largest number of employees per establishment in Waco Metro Area. The industry averages 71 jobs per establishment, which is greater than the US industry average of 27 and greater than the Texas establishments size average of 22 for the Educational services industry.

In Waco, Manufacturing, Health care and social assistance, and the Retail Trade sectors, in terms of total employment, are the largest. Manufacturing is the major employer in the Metropolitan Area making up 19 percent of total employment in the Metro Area, making up 15,737 individuals. The Health care and social assistance and Retail Trade sectors account for 15 and 13.5 percent of total employment, respectively.





Datasource: U.S. Department of Labor. Bureau of Labor Statistics. Quarterly Census of Employment and Wages (QCEW).