As the state’s population grows, so does the need for more housing. Here are the data and tools you need to keep up with housing market trends in your area.
Whether you’re talking about DFW’s financial services industry, Austin’s tech sector, Houston’s energy corridor, or the medical hub that is San Antonio, commercial real estate is big business in Texas.
Mineral rights. Water issues. Wildlife management and conservation. Eminent domain. The number of factors driving Texas land markets is as big as the state itself. Here’s information that can help.
Center research is fueled by accurate, high-quality, up-to-date data acquired from such sources as Texas MLSs, the U.S. Bureau of Labor Statistics, and the U.S. Census Bureau. Data and reports included here are free.
Stay current on the latest happenings around the Center and the state with our news releases, NewsTalk Texas online searchable news database, and more.
Save the Date - April 8 - 10, 2026 Hyatt Regency Hill Country Resort. More information coming soon.
Courses
Legal Update & Broker Responsibility Instructor Training
For information on the upcoming 2025 Legal Update and Broker Responsibility Instructor Training courses, please see the Texas Real Estate Commission’s website.
Established in 1971, the Texas Real Estate Research Center is the nation’s largest publicly funded organization devoted to real estate research. Learn more about our history here and meet our team.
Today, I pointed my Jeep toward the “Second Hill Country” located northwest of Waco. Crossing the Highway 6 bridge over Lake Waco, the topography begins to change dramatically.
Today, I pointed my Jeep toward the “Second Hill Country” located northwest of Waco. Crossing the Highway 6 bridge over Lake Waco, the topography begins to change dramatically. Many find this region—made up of western McClellan, Bosque, Erath, Somervell, and parts of a few other counties—nearly as attractive as the more widely recognized Hill Country west of Austin.
This is a highly favored destination for Dallas-Fort Worth Metroplex escapees. It is known for its limestone cliffs, the rocky Bosque and Paluxy rivers, dinosaur tracks preserved in limestone, the storied, 9,000-acre corporate retreat/resort, Rough Creek Lodge, talented artisans, media and political celebrities, and rich history.
Valley Mills Yesterday and Today
My first stop was Valley Mills. situated on Highway 6 about 25 miles west of Waco on the Bosque River, straddling the county lines of Bosque and McClennan Counties. Nearby towns include Crawford (the location of former president George W. Bush’s ranch, Western Whitehouse), Clifton, Gholson, McGregor, and Meridian (the county seat).
The highest point in Bosque County is Meridian Peak (elevation 1,223 ft.) near the towns of Iredell and Meridian. For reference, the highest point in the Hill Country west of Austin lies in Kerr County at 2,420 ft., while the highest point in Texas is Guadalupe Peak, about 100 miles east of El Paso in Culberson County, at a respectable 8,749 ft.
Highway 6 parallels the Bosque River with limestone ridges on both sides of the road defining the valley. All the way to Meridian, large custom homes recently built high on the hills overlook the valley, a testament to this area’s natural beauty. As a result, Valley Mills is growing moderately.
Located on the historic Chisholm Trail, Valley Mills has a rich history as a prosperous retail trading center for Bosque and McClennan Counties. The arrival of the Gulf, Colorado and Santa Fe Railroad in 1881 incentivized local merchants to move their stores across the Bosque River to the tracks. It was a fortuitous move. In February of 1882, a tornado hit the old town destroying vast numbers of buildings. Many of the original town’s residents followed, extending Valley Mills into McClennan County. Dairy farming and stock-raising were important to the town in early years. Like many small towns in the 1930s, the town’s population declined but made a comeback.
The Heart of Texas Council of Government (COG) places Valley Mills population at 1,291 in 2024. I found one estimate for 2025 as high as 1,400, noting however, that most of the greater Valley Mills area population just outside the town is much higher. The town now has a small Brookshire Brothers grocery store and retains its small-town charm. The town is clean, structures are well maintained, schools are rated above average, and crime is low— factors important to potential new residents.
Chip and Joanna Gaines’ media influence is felt here as it is throughout the region surrounding Waco. I was told their ranch is in the countryside near Crawford. The flour mill built on the river in 1867 is the site for filming of Joanna’s Magnolia Table for the Magnolia TV Network. The town was founded that same year and named for the mill.
These days, Valley Mills has an artsy feel with an attractive mural depicting the town’s history painted on a large building fronting the main route through town. Just across the road is the Valley Mills Mantel Shop, a sawmill producing fine fireplace mantels, which was also featured on HGTV’s Fixer Upper. I stopped in and had a great talk with an old-timer who runs the place. He deals in gorgeous slabs of native Texas woods like pecan, mesquite, oak, cypress, and cedar.
The COG’s data reveals that many of the town’s residents are commuters, with the most frequent commute time being 30-34 minutes, meaning Waco is probably the destination for many workers living in Valley Mills. In terms of local employers, educational services lead the way, followed by retail trade, scientific/tech services, finance and insurance, public administration, other services, healthcare and social assistance, and food and beverage sales. The town has several other attractions, including Valley Mills Vineyards, (which produces award-winning wines) and the Santa Fe Train Depot Museum. The nearby train tracks that helped the town grow are still in use today, adding to the authenticity of the museum.
I spot-checked a few raw land listings and found a range, from a low of about $9,000 per acre to almost $18,000 an acre for a live-water, less-than-100-acre property. This is by no means a thorough review of the land market, but rather a way to satisfy my curiosity about the going rate for land there. I suspect some of the prime properties with expansive views command a significantly higher price.
Next Stop: Clifton and Meridian
I travelled through Clifton on my way to Meridian. Clifton, named for the prominent limestone cliffs just outside of town, is the largest town in Bosque County. It is growing very slowly and appears to be holding its own in terms of businesses.
Arriving at Meridian, my final target destination for this outing, I was once again impressed by the view from the hills to the south looking down on the town and its delightful, historic courthouse.
Meridian is on the high north bank of the Bosque River. There are a few businesses still on the courthouse square, but the trajectory of the town has sadly been one of population decline. Perhaps Chip and Joanna Gaines or other benefactors will widen their playing field and spark a new renaissance in Meridian? It has a lot of history, period homes, and commercial architecture with character to jump start that effort.
Source attribution: History of Valley Mills is sourced from the Texas State Historical Association
Views expressed on The 338 are those of the authors and do not imply endorsement by the Texas Real Estate Research Center, Division of Research, or Texas A&M University.
As the state’s population grows, so does the need for more housing. Here are the data and tools you need to keep up with housing market trends in your area.
Whether you’re talking about DFW’s financial services industry, Austin’s tech sector, Houston’s energy corridor, or the medical hub that is San Antonio, commercial real estate is big business in Texas.
Mineral rights. Water issues. Wildlife management and conservation. Eminent domain. The number of factors driving Texas land markets is as big as the state itself. Here’s information that can help.
Center research is fueled by accurate, high-quality, up-to-date data acquired from such sources as Texas MLSs, the U.S. Bureau of Labor Statistics, and the U.S. Census Bureau. Data and reports included here are free.
Stay current on the latest happenings around the Center and the state with our news releases, NewsTalk Texas online searchable news database, and more.
Save the Date - April 8 - 10, 2026 Hyatt Regency Hill Country Resort. More information coming soon.
Courses
Legal Update & Broker Responsibility Instructor Training
For information on the upcoming 2025 Legal Update and Broker Responsibility Instructor Training courses, please see the Texas Real Estate Commission’s website.
Established in 1971, the Texas Real Estate Research Center is the nation’s largest publicly funded organization devoted to real estate research. Learn more about our history here and meet our team.