Why It's Getting Harder to Buy Your Fixer Upper Dream House in Waco, TX

Chip and Joanna Gaines have had a meteoric rise since their show, Fixer Upper, premiered on HGTV in 2013. And it turns out they've taken the city of Waco, TX, with them. A new Entrepreneur article on the couple looks inside their multifaceted Magnolia empire and the impact they've had on the small Texas town.

The area is in the middle of a Magnolia-induced renaissance. Tourists are flooding the silos and new businesses are popping up to accommodate the influx. But there's a flip side to the business boom, what the author calls the "Fixer Upper effect." It's making the town that was initially embraced for its affordability increasingly expensive. The median home value has skyrocketed up 14 percent from $96,102 in 2013, according to Trulia, to $110,254 in 2016. While the average American growth rate is less than one percent a year, Waco grew at an astounding 32 percent between 2011 and 2014, the article says.

Waco property prices are soaring and property taxes are soaring right with them, making it harder for up-and-comers to buy a place of their own and live out their HGTV fantasy life. The area must now figure out how to keep the development and growth going without pricing out its early inhabitants. Head over to Entrepreneur for the full story.