Bryan Charap Chief Financial Officer | realtors.com
For years, Waco, Texas was known for its troubled past, including the infamous 1993 standoff involving David Koresh. Despite being home to Baylor University and affordable housing, it struggled with a negative reputation. However, the arrival of Chip and Joanna Gaines in 2013 marked a turning point for the city.
The couple gained fame through their HGTV show "Fixer Upper," which became an instant hit due to Chip's humorous personality and Joanna's design skills. By 2016, HGTV declared it the network's most successful show. Beyond television success, they launched their Magnolia cable network and developed various businesses in Waco, including Magnolia Market at the Silos and a luxury hotel.
These ventures have significantly boosted tourism in Waco. The annual "Silobration" event attracts thousands of visitors who explore famous renovations by the Gaineses and shop for decor items like pumpkin chai candles.
Realtor.com economist Joel Berner notes that since September 2016, listing prices in Waco have surged by 90.8%, outpacing growth in other Texas cities like Austin and Dallas. He attributes this rise partly to increased attention from "Fixer Upper" fans.
Waco's economy has benefited from this boom. Karr Ingham, a Texas-based economist, highlights record-setting growth in the Greater Waco Economic Index since 2016. The Texas A&M Research Center observes rising home sales and improving job figures.
Local real estate agents recognize the positive impact of the Gaineses on Waco's image and economy. Aaron Williams acknowledges that "Magnolia as an organization has drawn in visitors" while Cely Guzman notes growth in hospitality and retail sectors driven by tourism.
Amber Brown from White Label Realty suggests that while Magnolia contributed to Waco's appeal, factors like proximity to major cities Austin and Dallas-Fort Worth also play a role. She points out that remote work arrangements allow people to move to Waco for more affordable housing options compared to larger cities.
Major companies such as Walmart, Hello Bello, SpaceX, and Amazon have established or expanded operations in Waco recently. This influx of businesses is creating jobs and prompting new-home construction to accommodate growth.
Brown concludes that Chip and Joanna’s influence raised awareness about Waco’s strategic location along I-35 but emphasizes that its convenient position is driving ongoing development efforts across various sectors.