Woodway, Texas.
Typical home $365,674 (+0.9% in a year), asking rent $1,618 (+7.1%). Waco, TX metro.
to buy the typical home at today's mortgage rate — +$1,004 (+110%) since Jan 2020.
- 1 year
- Up $3,329 +1%
- $362,345$365,674 since Sep 2025
- 5 years
- Up $49,881 +16%
- $315,793$365,674 since Sep 2021
Monthly payment to buy the typical home
Home value × that month's 30-year mortgage rate, 20% down, principal and interest. This is the line households feel: prices and rates compound each other.
- Woodway$1,919
- Texas$1,556
- United States$1,922
At the last five years' pace, a typical home here doubles in price every 24 years.
Typical home values in Woodway, TX rose 0.9% over the past year — slower than the nation's +1.2%.
Asking rents in Woodway, TX rose 7.1% over the past year — faster than the nation's +2.7%.
Owning the typical home in Woodway runs $1,127/mo more than renting one. The gap peaked at $1,347 in Oct 2023.
That is $2,745 a month against $1,618 rent: a $1,919 mortgage payment, plus $434 property tax and $391 insurance & upkeep.
Owning vs renting — Woodway
The owning line is the typical home's monthly payment at that month's rate, plus property tax and insurance & upkeep; the renting line is the typical asking rent; the grey line is the mortgage payment on its own. Same homes, same months, both ways of paying for a roof.
- Owning all in$2,745
- Renting$1,618
- Mortgage only$1,919
Property tax · $434/mo 1.42% of value a year — the ACS 2020-2024 median bill over the median home value for McLennan County, TX
Insurance & upkeep · $391/mo insurance, maintenance and repairs together, from the BLS Consumer Expenditure Survey — the national figure for mortgaged homeowners, scaled to this market's home value. BLS publishes the three bundled and they cannot be split.
Both are priced off the same month's home value, so they rise with the market. Neither is a quote — a specific home's bill depends on its assessment, its age and its insurer.
Living in Woodway, McLennan County, Texas
Woodway is a city of 9,383 people in McLennan County. Half its households earn more than $115,108 a year and half less, against $66,643 across McLennan County; 4% of its people live below the poverty line. 91% of its homes are lived in by their owners and 9% are rented. Unemployment in McLennan County was 4.3% in August 2026, and the county had 0.2% more jobs in 2025 than the year before. The most residents work in schools and health care, then manufacturing.
Written by AI Claude Sonnet 5.5 wrote this on 23 October 2026 from the figures here, a list of nearby places and what it knows. It can be wrong or out of date.
What it’s like
The place. Woodway is a small city in McLennan County, close to Waco. Households here have incomes well above the county's, and very few residents live below the poverty line. Nearly all homes are lived in by their owners, and rents run lower than the cost of buying a home. Most adults hold a four-year degree, and the typical commute is a short one.
Work. Residents work mostly in schools, hospitals and social care, with manufacturing, shops and professional and business services also employing many. Among the largest workplaces in Woodway are Midway ISD, H-E-B and Leland Collier Electric Co. Unemployment across McLennan County is about where it was a year ago, and the number of jobs in the county has barely changed.
Things to do. A short drive away, Cameron Park is a large park beside the Cameron Park Zoo, and the Waco Mammoth National Monument is a protected area. Waco Lake is a reservoir close by for time on the water, and McLane Stadium is a short drive away for ball games. Winters are mild with little or no snow, summers are hot, and rainfall is moderate through the year.
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- 3,719households
- 65%of adults have a degree
- 4%below the poverty line
- 18 mintypical commute
- 12%work from home
What residents work in
Employed residents by industry, from the Census survey. McLennan County had 122,992 jobs in 2025, 0.2% more than the year before (Bureau of Labor Statistics).
Weather through the year
Coldest in January, with highs near 58° and lows near 36°; warmest in August, with highs near 95° and lows near 75°. About 38 inches of rain a year, and little or no snow.
Average daily high and low, 1991–2020, at the Waco Dam weather station, 7 miles away (NOAA).
Largest workplaces in Woodway
- Midway ISDSchool district1,263FTE
- H-E-BRetail562
- Leland Collier Electric CoElectrical, electrical wiring, and low voltage electrical work321
- Packaging Corporation of America177
- American Medical Response133
- Smith Pump CompanyCentrifugal pumps manufacturing82
- Specialty Restoration of TexasFire and flood restoration, multifamily building, general contractors80
- Fitzgerald'sArborist services75
Staff on average in 2025, as each workplace reported it to OSHA with its injury records: 14 workplaces with 20 or more staff, 1,596 people in all. School districts come from the Common Core of Data (NCES, 2023–24); FTE marks full-time equivalent staff. Not listed: many offices and banks, which need not report to OSHA; military bases, whose staff OPM withholds; and, in about half the states, city and county governments.
Natural hazards
- TornadoesVery high
- Cold wavesRelatively high
- LightningRelatively high
- Heat wavesRelatively high
- HailRelatively moderate
- Strong windRelatively moderate
FEMA’s National Risk Index (December 2025) rates the risk each natural hazard poses to the people, buildings and farms in Woodway’s census tracts, against the rest of the country; all of them together, relatively low. It is meant for planning, not a substitute for a local risk assessment or a flood map: FEMA’s index.
From the U.S. Census Bureau’s 2020 census and its American Community Survey (2020–2024 five-year estimates), and the Bureau of Labor Statistics. A survey, so each figure has a margin of error, and figures it is not sure of are left out. More on McLennan County and the Waco, TX metro.
Woodway home values
Zillow measures a city over its municipal boundary. Against the state and national figures, mid-tier homes, smoothed and seasonally adjusted.
- Woodway$365,674
- Texas$296,424
- United States$366,157
Levy by levy, and a check of one home’s own bill, the site covers Ohio’s property tax.
Sellers are cutting prices on about 1 in 3 Woodway listings, and the typical home goes pending in 45 days — the market is roughly in balance.
When this market ran hot
Each cell is that month's year-on-year home-value growth. Read left to right, top row is the latest year — the 2021–22 band is the boom.
Market heat, inside the city limits
Share of listings with a price cut
The early-warning dial: sellers cut when buyers stop reaching. Rising cuts cool a market months before prices notice.
- Woodway30.38%
- United States26.90%
Days to pending
How long the typical listing takes to go under contract.
- Woodway45
- United States27
Homes for sale
Active for-sale inventory. More supply hands power to buyers.
- Woodway187
New listings per month
Sellers arriving at the market.
- Woodway38
Median sale price
What buyers actually paid — closed sales, not asking prices.
- Woodway$356,071
- United States$371,407
Sale-to-list ratio
Above 100%, homes sell over asking; below, buyers negotiate wins.
- Woodway97.86%
Zip codes with a Woodway address
A different geography, not a breakdown. The figure above covers the municipality; these zips cover everywhere the Post Office calls Woodway — often including townships beyond the city limits. Both come straight from Zillow, and they are not expected to average out.