Neighborhood in Allen, Collin County

Living in Waterford Parks, Allen

A-

15th of 24areas in Allen
Overall score 88 of 100 vs Texas neighborhoods
Allen overall: A+

Waterford Parks is a neighborhood in Allen, TX, home to about 4,500 people. It gets an A-, in the top 20% of Texas neighborhoods, and ranks 15th of 24 areas we score in Allen. It does best on schools and worst on cost of living.

  • Top-rated schools
  • Pricey
  • Well connected
  • Lots of parks
  • Tornado risk is very high
  • Hail risk is very high

Closest everyday places

Grocery store0.9 mi
Pharmacy0.7 mi
Park0.1 mi
Cafe0.7 mi
Restaurant0.7 mi
Gym0.6 mi
Hospital or urgent care1.0 mi
Childcare0.8 mi
Library1.7 mi

Straight-line distance from the middle of where people live. Overture Maps.

Population
4,460
Median rent
$1,890
Median home value
$641,000
Household income
$126,800
Average commute
29 min
Homes owned
65%
Loading map

What it's like to live in Waterford Parks

Waterford Parks is a neighborhood in Allen with about 4,500 residents, mostly newer homes (median year built 2015), a mix of owners and renters and 37% of households with children.

It grades A- against every neighborhood in Texas and ranks 15th of 24 areas in Allen, which grades A+ overall.

Pros of living in Waterford Parks

  • Well-rated schools nearby. 3 of the 3 closest public schools are rated A or B.
  • Parks within walking distance. The closest park is about 0.1 miles away.

Cons of living in Waterford Parks

  • Natural hazard risk. FEMA rates the risk of tornadoes and hail as very high in this part of town.

Waterford Parks report card

Each grade compares Waterford Parks with every neighborhood in Texas. Safety is not graded for single neighborhoods because police report crime for the whole city.

  • Cost of living: grade D+

    Median rent $1,890, homes cost 5.1x income.

    25 of 100 vs TX areas

  • Jobs and income: grade B+

    Median household income $126,800, 2.3% unemployed.

    73 of 100 vs TX areas

  • Schools: grade A

    Nearby schools average 92 of 100 on the state rating.

    94 of 100 vs TX areas

  • Safety: no grade

    Citywide, 79 violent crimes per 100k, 709 property crimes per 100k.

    No score vs TX areas

  • Errands and things to do: grade B

    Most everyday stores and services within a mile of homes.

    68 of 100 vs TX areas

  • Getting around: grade D+

    Average commute 29 min, 33% work from home.

    26 of 100 vs TX areas

  • Education levels: grade A

    73% have a bachelor’s degree.

    92 of 100 vs TX areas

  • Health: grade A

    6.3% of adults uninsured.

    91 of 100 vs TX areas

  • Home ownership: grade D+

    65% of homes owner-occupied.

    30 of 100 vs TX areas

  • Internet access: grade A

    100% of homes have broadband.

    91 of 100 vs TX areas

Waterford Parks compared with Allen

Better than Allen

  • Adults with a bachelor's degree or higher: 73%16 points higher than Allen (57%)
  • Renters paying 30%+ of income on rent: 47%6 points lower than Allen (54%)
  • Homes with broadband internet: 100%3 points higher than Allen (97%)

Worse than Allen

  • Home value to income: 5.1x43% higher than Allen (3.5x)
  • Vacant homes: 11%6 points higher than Allen (4.7%)
  • Homes owned by the people living in them: 65%4 points lower than Allen (69%)

Closest public schools

Texas Education Agency 2025 ratings. Check the attendance zone for any address with the district.

  • ABeverly Cheatham ElementaryElementary, Allen ISD0.3 mi
  • AWortham IntermediateMiddle, Frisco ISD2.2 mi
  • BEmerson High SchoolHigh, Frisco ISD1.5 mi

Cost of living in Waterford Parks

Median rent in Waterford Parks is $1,890 a month, about the same as the Allen median. A household would need about $76,000 a year to keep that rent at 30% of income.

The median home is worth $641,000, 38% higher than the Allen median, which means a monthly payment of about $4,342 with property tax at today's mortgage rates.

MeasureHereAllenTexas
Median rentAbout the same as Allen$1,890$1,932$1,403
Median home value38% higher than Allen$641,000$464,100$283,800
Home value to income43% higher than Allen5.1x3.5x3.6x
Renters paying 30%+ of income on rent6 points lower than Allen47%54%52%
Homes owned by the people living in them4 points lower than Allen65%69%63%
Vacant homes6 points higher than Allen11%4.7%9.4%
Median year homes were builtAbout the same as Allen201520031992

Monthly cost to buy a median home

$4,342
Mortgage payment
$3,509
Property tax
$833
Median rent, for comparison
$1,890

Based on a $641,000 home in Waterford Parks, 20% down and a 30-year loan at 7.28% (Freddie Mac average, week of 2026-10-01). Property tax is the median for the surrounding Census tract, or the county where that is not published. Insurance and fees are not included.

Work, income and getting around

MeasureHereAllenTexas
Median household income3% lower than Allen$126,800$130,901$78,476
Unemployment rate1 points lower than Allen2.3%3.7%5.3%
People below the poverty line2 points higher than Allen8.4%6.1%14%
Adults with a bachelor's degree or higher16 points higher than Allen73%57%34%
Average commute5% higher than Allen29 min28 min27 min
Workers who work from home6 points higher than Allen33%27%14%
Workers who walk, bike or take transitAbout the same as Allen0.5%1.0%2.6%
Homes with broadband internet3 points higher than Allen100%97%91%

Natural hazard risk

FEMA National Risk Index for the Census tracts in this area.

  • River floodingModerate
  • HurricanesLow
  • TornadoesVery high
  • HailVery high
  • Heat wavesHigh
  • WildfiresModerate
  • Winter stormsModerate
  • Strong windModerate

Who lives in Waterford Parks

Under 1833%
18 to 3414%
35 to 6440%
65 and over13%
Race and ethnicity
White47%
Hispanic or Latino5.1%
Black14%
Asian33%
Other or more than one race0.8%

Shown for information only. It is never part of any grade.

Other neighborhoods in Allen

  1. 1A+The Park At Montgomery Farm
  2. 2A+Cypress MeadowsMedian rent $1,850
  3. 3A+Allen NorthMedian rent $2,590
  4. 4A+Cumberland CrossingMedian rent $2,610
  5. 5A+Oak RidgeMedian rent $2,420
  6. 6A+SilhouetteMedian rent $2,860
  7. 7AGlendover ParkMedian rent $1,870
  8. 8ATwin CreeksMedian rent $1,920

Similar neighborhoods in other cities

Areas elsewhere in Texas with the closest mix of grades.

  1. ACollege Court PlaceHouston
  2. A-North Round RockRound Rock
  3. A-EastvaleFrisco

Questions about Waterford Parks

Is Waterford Parks a good place to live?

Waterford Parks is a neighborhood in Allen, TX, home to about 4,500 people. It gets an A-, in the top 20% of Texas neighborhoods, and ranks 15th of 24 areas we score in Allen. It does best on schools and worst on cost of living.

How much does it cost to live in Waterford Parks?

Median rent in Waterford Parks is $1,890 a month, about the same as the Allen median. The median home is worth $641,000, 38% higher than the Allen median. A median home costs 5.1x the median household income, compared with 3.5x across Allen.

What schools serve Waterford Parks?

The closest rated public schools are Beverly Cheatham Elementary (elementary, rated A), Wortham Intermediate (middle, rated A) and Emerson High School (high, rated B). School zones can differ from the closest school, so check with the district.

This area is built from 1 Census block group closest to the Waterford Parks name on the map, so its edges are approximate. Sources: US Census Bureau 2020-2024 ACS 5-year, CDC PLACES 2025, Texas Education Agency, FEMA National Risk Index, Overture Maps. How we grade.