Waco, TX · McLennan County · Waco MSA ~278K · No Rent Control · Texas LGC §214.902 Statewide Preemption (1987) · Texas Property Code Ch. 92 · No Statutory Deposit Cap · 30-Day Deposit Return · $100+3× Bad-Faith Withholding · 3-Day Notice to Vacate No Cure · Baylor University Founded 1845 Oldest Continuously Operating TX University · R1 Carnegie 2022 · ~21K Students · ~6K–7K Employees McLennan County’s Largest Employer · 2021 Big 12 Football + 2021 NCAA Men’s Basketball + 2023 NCAA Women’s Basketball National Championships · McLane Football Stadium 45,140 Seats · L3Harris T-6A Texan II USAF MRO Hub ~1,500–2,000 Employees · TSTC Waco · Magnolia Market Silos Chip & Joanna Gaines 1.2–1.5M Visitors $200M Impact · BSW Hillcrest Level II Trauma ~3,500 Employees · Ascension Providence Level III Trauma ~2,000 Employees · Waco Mammoth National Monument · Cameron Park · Woodway Midway ISD Premium · Bellmead
Waco TX rent increase 2026 Texas Local Government Code §214.902 (enacted 1987) prohibits every Texas municipality — including Waco and all of McLennan County — from enacting, maintaining, or enforcing any ordinance or regulation controlling residential rents. Waco landlords may raise rent by any amount at renewal. Texas Property Code Chapter 92: no statutory security deposit cap (Texas unique among large states — no maximum); 30-day deposit return with itemized statement after tenant surrenders premises and provides forwarding address; $100 + attorney fees + potential 3× treble damages for bad-faith withholding (§92.109); 3-day Notice to Vacate before eviction for non-payment (calendar days including weekends; no mandatory cure right — unlike Virginia’s 5-day statutory cure right or Tennessee’s 14-day cure right). Baylor University (1301 S. University Parks Dr.; founded 1845; OLDEST CONTINUOUSLY OPERATING UNIVERSITY IN TEXAS; ~21,000 students; 12 schools and colleges; R1 Carnegie Classification 2022 — first faith-based Texas university; McLennan County’s largest employer ~6,000–7,000 people; 2021 BIG 12 FOOTBALL CHAMPIONSHIP; 2021 NCAA MEN’S BASKETBALL NATIONAL CHAMPIONSHIP; 2023 NCAA WOMEN’S BASKETBALL NATIONAL CHAMPIONSHIP; McLane Football Stadium 45,140 seats on the Brazos). L3Harris Technologies (T-6A Texan II USAF primary trainer MRO; ~1,500–2,000 Waco employees; TSTC A&P pipeline). Magnolia Market at the Silos (601 Webster Ave; Chip & Joanna Gaines; opened October 2015; 1.2–1.5M visitors/yr; $200M+ annual economic impact; “Fixer Upper Effect” 40–60% tourism surge). BSW Hillcrest Level II Trauma ~3,500 employees. McLennan County JP Court, Precinct 1 (214 N. 4th St., Waco; filing fee ~$46–$120; uncontested ~3–5 weeks).
Waco, Texas — home of Baylor University (the oldest continuously operating university in Texas, founded 1845, R1 since 2022, ~21,000 students, three national championships in two years), a growing defense–aerospace MRO hub anchored by L3Harris Technologies, and the national lifestyle tourism destination built by Chip and Joanna Gaines’ Magnolia brand — has no rent control of any kind in 2026.
Texas Local Government Code §214.902 (enacted 1987) prohibits every Texas municipality from enacting any ordinance controlling residential rents. Waco City Council cannot impose a rent cap, a rent freeze, a stabilization board, or any other mechanism limiting what a landlord may charge. Waco landlords operate in a fully market-determined rent environment governed by Texas Property Code Chapter 92 — which provides procedural tenant protections (deposit return timelines, statutory penalties for bad-faith withholding, habitability duties, 3-day Notice to Vacate before eviction) but imposes no limit whatsoever on the amount of any rent increase.
For Waco landlords, the most operationally critical compliance requirement is the 30-day security deposit return deadline under §92.109 — especially during the May–June Baylor move-out wave, when multiple academic-year leases expire simultaneously and the $100 + 3× treble damages penalty for bad-faith late returns creates meaningful financial exposure for landlords managing large near-campus portfolios.
Texas rent control preemption: Local Government Code §214.902
Texas Local Government Code §214.902, enacted in 1987, provides: “A municipality may not enact, enforce, or maintain an ordinance or charter provision that controls the amount of rent charged for private residential property in the municipality.” The language is unambiguous, has never been amended, and prohibits every form of residential rent regulation: hard caps, soft caps, guideline-based systems, permit conditions tied to rent levels, and any regulatory mechanism whose practical effect is to limit rent amounts.
Waco City Council has no authority to create a rent stabilization board, impose an annual rent increase guideline, freeze rents during a housing emergency, or adopt any administrative mechanism by which a McLennan County tenant could challenge a rent increase. The preemption covers Waco proper and every other municipality in McLennan County. The Waco city government has consistently treated §214.902 as settled law — no Waco City Council member has proposed a rent control ordinance in the nearly four decades since enactment.
Texas’s preemption differs from Oregon’s approach (SB 611, 2019: enacted a statewide 9.9%/year cap on all Oregon landlords in buildings over 15 years old, rather than a preemption) and from Florida’s constitutional prohibition (Fla. Const. Art. X §19, enacted by voter referendum in November 2023, requiring a 60% supermajority to repeal). Texas chose a direct statutory prohibition that has been in force since 1987. See Austin TX rent increase 2026, San Antonio TX rent increase 2026, and Houston TX rent increase 2026 for analyses of the same §214.902 framework.
Texas Property Code Chapter 92: Waco landlord–tenant law
Texas Property Code Chapter 92 is the primary residential landlord-tenant statute for all Waco rentals. Texas did not adopt the Uniform Residential Landlord and Tenant Act (URLTA, adopted by Tennessee, Virginia, Hawaii, and others) and wrote its own statute. Chapter 92 governs security deposits, repairs and habitability, locks and security, eviction, and tenant remedies. It imposes no cap on rent amounts.
Security deposit: no cap, 30-day return, 3× bad-faith penalty (§§92.101–92.110)
Texas Property Code §92.102 permits landlords to require a security deposit; no provision sets any maximum. Texas is one of the very few large states with no statutory deposit cap. Compare: California limits deposits to 1 month’s rent for unfurnished units (AB 12, effective 2024); Michigan caps at 1.5 months (MCL §554.602); Tennessee at 2 months (URLTA §66-28-301); Pennsylvania at 2 months in year 1, reducing to 1 month in year 2+ (68 P.S. §250.511a). A Waco landlord renting a near-Baylor unit for $1,000/month may legally require 2 months ($2,000) or any other amount.
Return timeline: under §92.109, the landlord must return the deposit with an itemized written statement of deductions within 30 days after the tenant (a) surrenders the premises AND (b) provides a written forwarding address. Both conditions must be met before the 30-day clock begins. Deductions may be taken only for unpaid rent and damages beyond normal wear and tear (§92.104). The bad-faith withholding penalty is significant: $100 plus three times the amount wrongfully withheld plus attorney’s fees (§92.109(a)). For a Waco landlord who wrongfully retains a $1,200 deposit in bad faith, the exposure is $100 + $3,600 + attorney fees = $3,700+ in statutory damages, before attorney fees. If not bad faith but still improper, the landlord owes the wrongfully withheld amount plus $100 plus attorney’s fees. Texas does not require deposits to be held in a segregated trust account (unlike Florida §83.49), but a dedicated deposit bank account is best practice.
The Baylor academic-year move-out cycle (May–June) is the highest-risk period for deposit compliance: multiple leases may expire within a 2–4 week window, each triggering its own independent 30-day return deadline. The administrative burden of conducting move-out inspections, documenting deductions with photographs and invoices, and mailing itemized statements on time for every unit simultaneously is substantial. RentCeiling’s deposit deadline tracker calculates the exact return deadline for each unit and alerts landlords before the window closes.
Notice to Vacate: 3 calendar days, no mandatory cure (§24.005)
Texas Property Code §24.005(b) requires a minimum 3-day written Notice to Vacate before filing a forcible entry and detainer (FED) action for non-payment of rent. Two key characteristics: (1) Calendar days: the 3 days include weekends and legal holidays — unlike Florida’s 3-day notice (§83.56) which excludes weekends and holidays. (2) No mandatory cure right: Texas does not require the landlord to allow the tenant to pay the overdue rent during the notice period. The notice is a pure vacate demand. A Waco landlord may legally decline any payment offered during the 3-day period and proceed directly to the McLennan County JP Court for eviction.
This distinguishes Texas from Virginia (VRLTA §55.1-1245: 5-day mandatory cure right), Tennessee (URLTA §66-28-505: 14-day cure right), Oregon (ORS §90.394: 72-hour notice with cure right), and Massachusetts (M.G.L. c.186 §11: 14-day cure right). Texas’s 3-day no-cure notice is among the most landlord-favorable non-payment eviction procedures of any major US state. Self-help eviction — changing locks, cutting utilities, removing belongings without a court order — is prohibited by §92.0081 (1 day’s rent per day of lockout + $100/day + attorney fees, plus tenant’s right to writ of reentry).
Repair-and-deduct, habitability, and anti-retaliation
Texas Property Code §92.056 requires landlords to make a diligent effort to repair conditions materially affecting tenant health or safety after reasonable written notice. §92.0561 provides the repair-and-deduct remedy: if the landlord fails to repair within 7 days of written notice, the tenant may (with a second written notice) arrange repairs and deduct the cost from rent, up to the lesser of $500 or one month’s rent, once per repair event and no more than twice per 12-month period. Anti-retaliation: §92.331 prohibits retaliation against tenants who make good-faith repair requests or exercise statutory rights, with a 6-month rebuttable presumption of retaliation if the landlord raises rent or begins eviction within 6 months of such exercise. Waco landlords managing multiple near-Baylor properties should document that renewal rent increases are applied uniformly at the regular renewal date to all comparable units, not selectively to tenants who made repair requests.
Waco neighborhood rent table 2026
| Neighborhood / Submarket | Typical 1BR (2026) | Typical 2BR (2026) | Notes |
|---|---|---|---|
| Downtown Waco / Magnolia District / Austin Ave | $900–$1,500 | $1,100–$1,700 | Magnolia Market spillover; loft conversions; highest walk score; river views; short-term rental competition; post-2015 revitalization |
| Near Baylor Campus (Speight Ave / 5th St / Baylor Ave) | $650–$1,050 | $800–$1,300 | 21,000 student demand; annual August repricing; highest turnover; walk-to-campus premium; academic-year lease cycles |
| Woodway (I-35 South corridor) | $900–$1,400 | $1,100–$1,800 | Highest-rent Waco suburb; Midway ISD premium; executive and Baylor administrator demand; gated communities; I-35 access south |
| Hewitt (east suburb, Loop 340–I-35) | $800–$1,200 | $1,000–$1,600 | Growing suburban market; new construction; families; Midway ISD eastern zone; BSW Hillcrest commute corridor |
| Richland Hills / Valley Mills area | $800–$1,200 | $950–$1,450 | BSW Hillcrest Medical adjacent; L3Harris commute corridor; Loop 340 access; middle-market workforce housing |
| China Spring / Bosqueville (northwest exurbs) | $750–$1,150 | $950–$1,400 | Rural suburban; China Spring ISD; larger lots; acreage properties; agricultural character; lower density |
| South Waco / Lacy-Lakeview | $650–$950 | $800–$1,200 | Most affordable city-proper submarket; older housing; industrial workforce; TSTC Waco corridor; first-time renters |
| Bellmead (separate municipality, northeast) | $600–$900 | $750–$1,100 | Separate city; oldest industrial corridor; most affordable in metro; significant Hispanic community; L3Harris workforce demand |
Waco rental market trajectory: 2019–2026
| Year | Avg 1BR (Waco City) | Premium (Downtown / Woodway) | Affordable (Bellmead / South Waco) | YoY Change / Notes |
|---|---|---|---|---|
| 2019 | $700–$800 | $900–$1,200 | $500–$700 | Pre-pandemic baseline; 2–4% appreciation; Magnolia effect well-established; Baylor pre-R1 |
| 2020 | $720–$830 | $950–$1,250 | $520–$720 | +3–5%; Baylor shifted online spring 2020; modest near-campus softening; in-migration begins |
| 2021 | $780–$900 | $1,000–$1,350 | $560–$780 | +8–12%; Baylor basketball national championship; Sun Belt in-migration accelerates; Magnolia Network launch |
| 2022 (peak) | $880–$1,000 | $1,100–$1,600 | $620–$880 | +13–18% (peak appreciation; Baylor R1 achieved; Waco tourism record; 3-year premium total +35%) |
| 2023 | $880–$1,000 | $1,100–$1,600 | $620–$900 | +0–3%; plateau; Baylor women’s basketball national championship; new student housing pipeline |
| 2024 | $850–$990 | $1,050–$1,550 | $600–$890 | −2–0%; modest softening; new purpose-built student housing deliveries near Baylor |
| 2026F | $850–$1,050 | $1,050–$1,700 | $600–$950 | +2–4%; stabilized; Baylor enrollment growth steady; Magnolia tourism stable; L3Harris defense demand resilient |
Baylor University: oldest Texas university, R1 research powerhouse, and Waco’s dominant rental demand engine
Baylor University (1301 S. University Parks Dr., Waco TX 76798; (254) 710-1011) is the oldest continuously operating university in Texas, founded in 1845 at Independence, Texas, by an act of the Congress of the Republic of Texas — before Texas joined the United States. Baylor relocated to Waco in 1886 and has anchored McLennan County’s educational, cultural, and economic identity for nearly 140 years.
In 2022, Baylor achieved the Carnegie Classification of Doctoral Universities: Very High Research Activity (R1) — the first faith-based university in Texas to reach that tier. Annual research expenditures exceed $100 million and are growing. The Paul L. Foster Campus for Business Innovation ($80 million; opened 2019 on the Brazos River waterfront) exemplifies Baylor’s expanding physical campus. Baylor enrolls approximately 21,000 students across 12 schools and colleges: Hankamer School of Business; Baylor Law School (top-25 trial advocacy program); Louise Herrington School of Nursing (Dallas campus); School of Engineering & Computer Science; Truett Theological Seminary; Baylor College of Medicine partnership at Scott & White Health in Round Rock (opened 2017); and others. Baylor employs approximately 6,000–7,000 people — McLennan County’s largest private employer.
Athletic achievements have amplified Waco’s national visibility: the Baylor Bears won the 2021 Big 12 Conference football championship, the 2021 NCAA Men’s Basketball National Championship (defeating Gonzaga 86–70 at Lucas Oil Stadium), and the 2023 NCAA Women’s Basketball National Championship — three titles in approximately two years. McLane Football Stadium (1001 S. MLK Jr. Blvd, Waco TX 76706; 45,140 seats; opened 2014) on the Brazos River waterfront is one of the most distinctive college football venues in the Big 12. For Waco landlords, Baylor’s 21,000 students are the dominant driver of rental demand: the Near Baylor submarket (Speight Ave / 5th St / Baylor Ave / Dutton Ave, within 1.5 miles of campus) has the highest turnover rate in Waco, with annual August repricing as incoming freshmen and returning upperclassmen compete for units. Because Texas has no rent control, enrollment growth and Baylor’s rising national profile translate directly into uncapped rental appreciation for campus-adjacent landlords.
Magnolia Market at the Silos: the “Fixer Upper Effect” and Waco’s tourism revolution
Magnolia Market at the Silos (601 Webster Ave, Waco TX 76706) is the flagship destination of the Magnolia brand built by Chip and Joanna Gaines, nationally known through their HGTV series “Fixer Upper” (2013–2018 on HGTV; returned 2021 on Magnolia Network, a Discovery Inc. subsidiary headquartered in Waco). The show transformed Waco from a mid-sized Texas city largely unknown outside the state into a national tourism destination. Real estate economists documented a 40–60% increase in tourism activity within 12 months of the show’s 2013 debut, along with significant downtown property value appreciation.
Magnolia Market opened October 2015 on the site of two historic grain silos on the Brazos River. The 13.3-acre complex includes: a 40+ vendor barn marketplace; Silos Baking Co. (famous for cupcakes; weekend wait times regularly exceed one hour); outdoor market and food truck park; Magnolia Press coffee shop; Magnolia Table restaurant (2132 S. Valley Mills Dr.; opened 2018; typically 2–4 hour wait); and the boutique Magnolia Hotel (32 rooms; opened 2023; approximately $250–$450/night). Annual visitor volume: approximately 1.2–1.5 million (2024–2026 stable range; peak ~1.5 million in 2018–2019). Estimated annual economic impact: $200 million or more to McLennan County. Downtown revitalization: Austin Avenue, 5th Street, and Franklin Avenue corridors have been transformed since 2015 — new boutique hotels, restaurants, and loft apartments filling formerly vacant downtown blocks. For landlords, the Magnolia Effect has pushed Downtown 1BR rents from approximately $650–$850 in 2014 to $900–$1,500 in 2026 and created a robust short-term rental market. Because Texas has no rent control, all Magnolia-driven appreciation flows directly to landlords through uncapped renewal increases.
Baylor Scott & White, L3Harris, and Waco’s healthcare and defense employment base
Baylor Scott & White Medical Center–Hillcrest (100 Hillcrest Medical Blvd, Waco TX 76712) is McLennan County’s primary acute-care hospital: Level II Trauma Center; approximately 334 licensed beds; approximately 3,500 employees. Part of Baylor Scott & White Health, the largest not-for-profit health system in Texas. BSW also operates Baylor Scott & White Medical Center–Waco (2401 S. 31st St.), adding approximately 1,000 additional McLennan County employees. Ascension Providence (formerly Providence Healthcare Network; 901 W Loop 340, Waco TX 76712) is Waco’s second major hospital: Level III Trauma; approximately 500 beds; approximately 2,000 employees. Combined, the Waco healthcare sector employs approximately 5,500 hospital workers — nurses, physicians, residents, allied health professionals, and administrative staff — generating rental demand concentrated in Richland Hills / Valley Mills (BSW Hillcrest-adjacent), Hewitt, and Woodway.
L3Harris Technologies (NYSE:LHX; Fortune ~130; ~$21B revenue FY2024; ~50,000 worldwide employees) operates a Waco facility providing MRO services for the T-6A Texan II — the USAF and US Navy’s primary pilot trainer used at every undergraduate pilot training (UPT) base: Vance AFB, Sheppard AFB, Columbus AFB, Laughlin AFB, and others. Every new USAF pilot trains in the T-6A, making Waco a key hub in the USAF pilot training sustainment enterprise. The Waco facility employs approximately 1,500–2,000 workers (A&P-certificated mechanics, avionics technicians, program managers; ~$55K–$100K earnings), concentrated in South Waco, Bellmead, and the Richland Hills / Valley Mills corridor. Texas State Technical College (TSTC) Waco (3801 Campus Dr., Waco TX 76705; ~4,000 students) provides the direct workforce pipeline through aviation maintenance technology and A&P certification programs. Defense contract stability makes L3Harris demand structurally resilient: USAF pilot training is not discretionary, and the T-6A fleet will require MRO services for years to come.
Waco vs. other Texas cities: 2026 rent law comparison
| Jurisdiction | Rent Control Status | Key Statute | Deposit Cap | Eviction Notice | Typical 1BR (2026) |
|---|---|---|---|---|---|
| Waco / McLennan County TX | Preempted (1987) | Texas LGC §214.902; Prop. Code Ch. 92 | None | 3 days, no cure | $850–$1,050 avg |
| Austin TX | Preempted (same) | Texas LGC §214.902 (same) | None | 3 days, no cure | $1,700–$2,200 avg |
| San Antonio TX | Preempted (same) | Texas LGC §214.902 (same) | None | 3 days, no cure | $1,050–$1,250 avg |
| Dallas TX | Preempted (same) | Texas LGC §214.902 (same) | None | 3 days, no cure | $1,500–$1,900 avg |
| Houston TX | Preempted (same) | Texas LGC §214.902 (same) | None | 3 days, no cure | $1,300–$1,600 avg |
| Nashville TN | Preempted statewide | T.C.A. §66-35-102 (2014) | 2 months (URLTA) | 14 days with cure | $1,600–$1,800 avg |
| Denver CO | Preempted statewide | C.R.S. §38-12-301 (1981) | 2 months | 10 days (non-pay) | $1,700–$2,200 avg |
| New York City NY | Active rent stabilization | RSL; HSTPA 2019; RGB Order #57 | 1 month (RSL) | 14 days (non-pay) | $3,200–$4,500 stabilized |
Waco landlord compliance checklist 2026
- No rent cap — raise rent any amount at renewal with proper lease notice: Texas LGC §214.902 prohibits all municipal rent control in Waco and Texas. At lease expiration, offer renewal at any new rent. For month-to-month tenants, provide at least one month’s written notice before the increase takes effect (§91.001(b)). No cap, no board, no approval, no reason required.
- Collect security deposit in any amount — document in the lease, maintain separate accounting: §92.102 imposes no maximum. State the exact deposit amount in the lease. For Baylor student portfolios, maintain a dedicated deposit account to simplify accounting during the May–June move-out wave.
- Return deposit with itemized statement within 30 days of surrender plus forwarding address: under §92.109, the 30-day clock starts when the tenant (a) surrenders the premises AND (b) provides a written forwarding address. Include specific dollar amounts and descriptions for every deduction. Bad-faith withholding triggers $100 + 3× the wrongfully withheld amount + attorney’s fees. Calendar each unit’s deadline independently during the May–June Baylor move-out wave.
- Do not deduct normal wear and tear: §92.104 prohibits deductions for normal wear. Non-deductible: minor wall scuffs; light carpet wear in traffic paths; small nail holes; faded paint. Deductible: large drywall holes; pet damage to flooring or baseboards; carpet stains; burn marks; unusually dirty conditions. Photograph move-in and move-out; obtain contractor invoices.
- Serve 3-day Notice to Vacate before filing for eviction — calendar days, no mandatory cure: §24.005(b) requires written 3-day Notice to Vacate (calendar days, including weekends) before filing the FED petition at McLennan County JP Court. You are not required to accept cure payment during the notice period. Serve by hand delivery, door posting, or certified mail; retain delivery records.
- File eviction at McLennan County JP Court, Precinct 1, Place 1 — no self-help: 214 N. 4th St., Waco; (254) 757-5049; filing fee ~$46–$120. Self-help eviction violates §92.0081: 1 day’s rent/day + $100/day + attorney fees, plus tenant’s right to writ of reentry. Always use the court process.
- Provide 1-month notice before raising rent on a month-to-month tenancy: §91.001(b) requires one month’s written notice to terminate or materially change a month-to-month tenancy. A rent increase is a material change. Deliver notice at least one full calendar month before the effective date. Certified mail with delivery confirmation is best practice.
- Disclose owner name and address in the lease or on the premises: §92.0563 requires the landlord to disclose the name and address of the property owner (or authorized manager) in the lease or posted conspicuously on the premises. For Baylor student leases managed by a property management company, identify both the management company and the property owner.
Waco rent law: frequently asked questions
Does Waco Texas have rent control in 2026?
No. Waco and all of McLennan County have no rent control of any kind in 2026. Texas LGC §214.902 (enacted 1987) prohibits every Texas municipality from enacting any ordinance controlling residential rents. Waco landlords may raise rent by any amount at lease renewal, subject only to the existing lease contract and applicable notice requirements. No cap, no stabilization board, no annual guideline, and no administrative process to challenge a rent increase.
How much can a Waco landlord raise rent in 2026?
Any amount. Texas LGC §214.902 prohibits all local rent regulation. During a fixed-term lease, the landlord may not change the rent without the tenant’s written agreement. At lease expiration, any new rent may be offered. For month-to-month tenancies, provide one month’s written notice before the new rent takes effect (§91.001(b)). No percentage cap, no approval process, no stabilization board. Near-Baylor landlords commonly see 5–15% market-driven increases between academic-year cycles; none of these figures are legal limits.
What is Baylor University and how does it affect Waco’s rental market?
Baylor University (1301 S. University Parks Dr.) is the oldest continuously operating university in Texas, founded 1845; R1 Carnegie Classification 2022; ~21,000 students; ~6,000–7,000 employees = McLennan County’s largest private employer. Athletic profile: 2021 Big 12 football championship; 2021 NCAA men’s basketball national championship; 2023 NCAA women’s basketball national championship. Baylor’s 21,000 students are the dominant rental demand driver in Waco, with annual August repricing in the near-campus submarket. Because Texas has no rent control, enrollment growth and Baylor’s national stature translate directly into uncapped appreciation for campus-adjacent landlords.
What is the “Fixer Upper Effect” and how has Magnolia Market changed Waco real estate?
The “Fixer Upper Effect” describes the documented 40–60% tourism increase and downtown property value appreciation triggered by Chip and Joanna Gaines’ HGTV show (2013–2018; returned 2021 on Magnolia Network) and Magnolia Market at the Silos (601 Webster Ave; opened October 2015; 1.2–1.5M visitors/yr; $200M+ annual economic impact). Downtown Waco 1BR rents rose from ~$650–$850 in 2014 to $900–$1,500 in 2026. Because Texas has no rent control, all Magnolia-driven appreciation in the Downtown and Magnolia District accrues to landlords through uncapped renewal increases.
What is Texas’s security deposit law for Waco landlords?
Texas Property Code Ch. 92 Subchapter C: no deposit maximum (§92.102); return deposit with itemized statement within 30 days of surrender plus forwarding address (§92.109); no deduction for normal wear and tear (§92.104); bad-faith withholding triggers $100 + 3× the wrongfully withheld amount + attorney’s fees (§92.109(a)). For Baylor landlords with academic-year leases expiring in May–June, tracking the 30-day deadline for each unit independently is the most critical compliance task. No separate trust account required (unlike Florida §83.49), but best practice is a dedicated deposit bank account.
What is the eviction process in McLennan County?
Evictions proceed through McLennan County JP Court, Precinct 1, Place 1 (214 N. 4th St., Waco; (254) 757-5049; filing fee ~$46–$120). Process: (1) Serve 3-day Notice to Vacate (calendar days; no mandatory cure; §24.005(b)); (2) File FED petition at JP Court after notice expires; (3) JP hearing within 10–21 days; (4) judgment for possession; (5) writ of possession executed by McLennan County Constable. Uncontested timeline: approximately 3–5 weeks. McLennan County District Court (501 Washington Ave.) for larger claims or appeals. Self-help eviction prohibited by §92.0081 (1 day’s rent + $100/day + attorney fees).
How do Waco rents compare to other Central Texas cities?
Waco 2026 avg 1BR ~$850–$1,050. Austin ~$1,700–$2,200 (Tesla HQ; Apple Austin campus; Samsung Austin Semiconductor; UT-Austin; 45–55% rent surge 2019–2023 then moderation). San Antonio ~$1,050–$1,250 (JBSA ~250K military + civilian; Valero Energy; USAA; H-E-B HQ). Dallas ~$1,500–$1,900 (AT&T HQ; Goldman Sachs; JPMorgan Chase). Killeen/Temple (45 mi south) ~$850–$1,100 (Fort Cavazos). All Texas cities share the §214.902 no-control framework. See Austin TX rent increase 2026 and San Antonio TX rent increase 2026.
What is L3Harris Technologies’ role in Waco’s economy?
L3Harris Technologies (NYSE:LHX; ~$21B revenue; ~50,000 worldwide employees) operates a Waco facility providing MRO services for the T-6A Texan II — the USAF and US Navy’s primary pilot trainer used at every UPT base (Vance AFB, Sheppard AFB, Columbus AFB, Laughlin AFB). Every new USAF pilot trains in the T-6A. The Waco facility employs approximately 1,500–2,000 workers ($55K–$100K earnings) in South Waco, Bellmead, and the Richland Hills / Valley Mills corridor. TSTC Waco provides the A&P aviation maintenance workforce pipeline. Defense contract stability makes L3Harris demand structurally resilient. Because Texas has no rent control, L3Harris employment stability allows uncapped appreciation in these workforce submarkets.
Track Waco deposit deadlines. Avoid the 3× treble damages penalty.
Texas §92.109 is unforgiving: miss the 30-day deposit return deadline in bad faith and you owe $100 + three times the amount withheld + attorney’s fees. For Waco landlords managing Baylor student leases, the May–June move-out wave creates simultaneous deadlines across multiple units — each clock running independently from the date each tenant surrenders and provides a forwarding address. RentCeiling calculates each unit’s exact statutory deadline and alerts you before the window closes.
Track your Waco deposit deadlines ›Related RentCeiling resources
- Austin TX rent increase 2026 — same Texas LGC §214.902 preemption; Tesla HQ relocated 2021; Apple Austin campus; Samsung Austin Semiconductor; UT-Austin 50,000+ students; Austin vs. Waco rent trajectory
- Houston TX rent increase 2026 — Texas LGC §214.902 (same statute); Chevron HQ; ExxonMobil Spring campus; Texas Medical Center world’s largest; Port of Houston
- Dallas TX rent increase 2026 — Texas LGC §214.902 (same statute); AT&T HQ; Goldman Sachs Dallas; JPMorgan Chase; Fortune 500 concentration
- San Antonio TX rent increase 2026 — Texas LGC §214.902 (same statute); JBSA ~250K military + civilian; Valero Energy HQ; USAA; H-E-B HQ
- Compare all jurisdictions — side-by-side caps, notice windows, deposit rules, and overcharge remedies for all covered markets