Waco Average Income, Population and Demographics

Are you tired of spending 10+ hours searching for demographic and population data for Waco, Texas? We have all of the data you need by state, county, city, and zip code that will save you many hours of research!

In this article, we'll explore most of the 190+ data points we have for Waco, covering popular demographics statistics like household income, race, age and gender, educational attainment, poverty, housing, and transportation.

The data on this page is from the 2022 American Community Survey (ACS) 5-Year survey from the US Census Bureau.

Median Household Income

According to the latest ACS 5-year survey in 2022, the median household income in Waco is $47,421.00.

The chart below shows the average household income by age in Waco.

• Under 25
  $22,045.00
• 25 to 44
  $53,327.00
• 45 to 64
  $62,165.00
• 65 and over
  $42,419.00

Average Household Income

A very commonly asked question is "what is the average household income in Waco, Texas?". The official term for the average household income is the mean household income. The mean household income is the total income of all households divided by the number of households.

The average (or mean) household income in Waco is $69,561.00.

4.63% of households in Waco, Texas are classed as high income households (making $200,000+ per year).

Household Income Tiers for Waco

We can also look at the household income tiers. This lets you see how many households fall into each of the earnings brackets and what percentage that bracket is of the total number of households.

The chart below shows the household income brackets to see which age groups have the highest median income. The actual data is more granular than these brackets, but we've simplified them into bigger categories to make reviewing the data for Waco, Texas easier to view.

You can purchase the raw data above, which will have the full income tiers with smaller jumps in household income.

• Less than $24,999
  28.51%
• $25,000 to $49,999
  23.84%
• $50,000 to $74,999
  15.67%
• $75,000 to $99,999
  11.09%
• $100,000 to $149,999
  11.69%
• $150,000 to $199,999
  4.57%
• $200,000 or more
  4.63%

Per Capita Income

The per capita income is the average income of all people in Waco, Texas. This is calculated by dividing the total income of all people in Waco by the total number of people in Waco.

It differs from the average or mean household income because it includes all people in Waco and not just the people who earn an income (i.e. children, retirees, unemployed, etc.).

The per capita income in Waco, Texas is $26,825.00.

Population in Waco by Race and Ethnicity

The total population in Waco is currently 140,545 people.

The race and ethnicity of the population in Waco can be very important for social research, economics, and marketing to a multi-culturial society.

Whether you want to target products or services to a particular race or ethnicity, or provide housing and new businesses to improve areas with a larger ethnic minority population, this data is very valuable for discovering suitable areas.

The chart below breaks down the population and percentage for each race and ethnicity in Waco, Texas.

• 2.30% White
  3,230
• 69.60% Black/African American
  97,771
• 44.90% Native
  63,086
• 14.50% Hispanic
  20,359
• 19.80% Asian
  27,882
• 0.10% Hawaiian/Pacific Islander
  199
• 0.00% Two or more races
  34
• 1.90% Other
  2,674

Population of Waco by Age and Gender

Another very important demographics statistic for Waco, Texas is the age and gender of the population. The age and gender of the population can be used to track trends in population growth or decline, and for businesses, the data can be used to identify people important to you and your business need.

In the table below, we show age groups at a 10 year granularity for ease of use. The raw data, which can be purchased above, includes age and gender at a 5 year granularity.

Education Levels

Educational attainment is a very useful statistic that can give insights into other data such as the average household income, unemployment levels, and literacy.

What this means is that it is likely for areas that have higher levels of education to have higher average household incomes, lower unemployment rates, and higher literacy rates.

The chart below shows the educational attainment of the population in Waco, Texas.

• Master's degree or higher
  13.91%
• Bachelor's degree
  30.40%
• Some college or associate's degree
  12.86%
• High school diploma or equivalent
  39.27%
• Less than high school diploma
  3.56%

Unemployment Rates

The unemployment rate is the percentage of the population that is actively looking for work but is unable to find a job. The unemployment rate is a very important statistic for Waco because it can show how many people are actively looking for work and how many people are unable to find a job.

Lower levels of unemployment is generally seen as a positive sign for the economy. It also makes the government in Waco look good because it shows that they are doing a good job of creating jobs, working to capacity, being efficient, and keeping the economy strong.

The unemployment rate is calculated using the total population in Waco, Texas that are over the age of 16.

The current population in Waco that are over the age of 16 is 110,880 people.

The unemployment rate in Waco is 4.50%, which means 3,054 people are unemployed.

Median Age in Waco

The median age is an interesting metric because it gives us an idea of the age distribution of people in Waco, Texas. You know when you see a median age that it is the age where half of the population is older and half is younger than it.

For demographic studies, this can be used to infer and compare date to things such as birth rates, the age of parents, and so on.

An increasing median age can be a sign of an aging population, which can be a sign of a declining population. This is because older people tend to have fewer children and die more often than younger people.

The median age in Waco is 28.8 years old.

We can also look at the median age by gender to compare the see how each group compares to the total median age:

Median age by gender in Waco

28.8

Total

27.3

Male

30.3

Female

Households and Families

There are a total of 52,256 households in Waco, and the average household size is 2.52 people.

For families, the total number is 29,686, and the average family size is 3.24 people.

16.40% of those families in Waco, Texas are living below the poverty line.

The table below shows the poverty thresholds for Waco in .

Households and Families by Marital Status

There are four types of household and family, as defined by the Census Bureau:

• Married-couple
• Male householder, no spouse present
• Female householder, no spouse present
• Nonfamily household

In the table below, you can see the total households and families in Waco, Texas for each type, as well as the average sizes.

Housing Data in Waco

There are total of 59,427 housing units in Waco, Texas. Of those units, 52,256 (87.93%) are occupied, and 7,171 (12.07%) are vacant.

Rental Rates

Of the 59,427 housing units in Waco, 26,430 (44.47%) are occupied by renters. The median rent paid by renters is $1,038.00.

Owner occupied housing units make up the remaining 41.56% of housing units, with 24,699 housing units in total.

The table below breaks down how much rent is paid by renters in Waco, Texas.

• No rent paid
  1,127
• Less than $500
  2,222
• $500 to $999
  10,151
• $1,000 to $1,499
  9,153
• $1,500 to $1,999
  3,643
• $2,000 to $2,499
  841
• $2,500 to $2,999
  207
• $3,000 or more
  213

Property Values

The median value of a property in Waco is $174,100.00.

The table below breaks down the range of valuations for all properties in Waco.

• Less than $50,000
  1,449
• $50,000 to $99,999
  5,165
• $100,000 to $149,999
  3,533
• $150,000 to $199,999
  3,775
• $200,000 to $299,999
  5,751
• $300,000 to $499,999
  3,342
• $500,000 to $999,999
  1,505
• $1,000,000 or more
  179

Property Age

We can also look at the number of properties built in a given year to see the spread of property age in Waco, Texas.

• 1939 or earlier
  3,543
• 1940 to 1949
  3,346
• 1950 to 1959
  9,584
• 1960 to 1969
  7,726
• 1970 to 1979
  9,285
• 1980 to 1989
  6,579
• 1990 to 1999
  4,438
• 2000 to 2009
  6,787
• 2010 to 2013
  7,876
• 2014 or later
  263

Vehicles Available per Household

Finally, we have data on how many vehicles each household in Waco has. The table below breaks down the number of vehicles available per household.

• No vehicles available
  3,809
• 1 vehicle available
  20,893
• 2 vehicles available
  18,871
• 3 or more vehicles available
  8,683

Commuting to Work in Waco

The time and means of commuting to work are useful metrics to look at because they can be correlated against other data such as income and education level.

Does a longer commuting time indicate a higher average income? If so, has the huge increase in home working during the pandemic changed this?

Using these metrics, we can get a better understanding of the demographics of Waco, Texas, how they commute, and how that correlates to other data points.

The average travel time is 17.5 minutes, and the chart below covers the range of travel times across the population of Waco.

• Less than 5 minutes
  1,436
• 5 to 9 minutes
  9,091
• 10 to 14 minutes
  12,206
• 15 to 19 minutes
  17,000
• 20 to 24 minutes
  8,609
• 25 to 29 minutes
  2,612
• 30 to 34 minutes
  3,913
• 35 to 39 minutes
  382
• 40 to 44 minutes
  590
• 45 to 59 minutes
  1,091
• 60 to 89 minutes
  727
• 90 or more minutes
  768

We can also look at the means of transport in Waco to see which modes of transport people are using to commute to work.

• Drove alone
  48,986
• Carpooled
  6,033
• Public transportation
  438
• Walked
  2,185
• Other means
  783
• Worked from home
  4,692

Conclusion

Hopefully this article has given you the demographics data you were looking for in Waco, Texas.

If you need more demographics data, or you need the data listed above in spreadsheet form with more granular grouping, head back to the top of this page where you can purchase the complete demographics data for Waco.

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