Neighborhood in Weslaco, Hidalgo County

Living in Olivarez #5 Colonia, Weslaco

B

4th of 6areas in Weslaco
Overall score 65 of 100 vs Texas neighborhoods
Weslaco overall: C

Olivarez #5 Colonia is a neighborhood in Weslaco, TX, home to about 8,300 people. It gets a B, in the top 36% of Texas neighborhoods, and ranks 4th of 6 areas we score in Weslaco. It does best on cost of living and worst on home ownership.

  • Affordable
  • Lots of parks
  • Jobs and income scores low (19 of 100)
  • Home ownership scores low (10 of 100)

Closest everyday places

Grocery store0.6 mi
Pharmacy0.6 mi
Park0.4 mi
Cafe0.7 mi
Restaurant0.3 mi
Gym1.0 mi
Hospital or urgent care0.6 mi
Childcare0.7 mi
Library1.0 mi

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

Population
8,350
Median rent
$1,010
Median home value
$101,000
Household income
$66,000
Average commute
21 min
Homes owned
63%
Loading map

What it's like to live in Olivarez #5 Colonia

Olivarez #5 Colonia is a neighborhood in Weslaco with about 8,400 residents, homes built around 1989, a mix of owners and renters and 36% of households with children.

It grades B against every neighborhood in Texas and ranks 4th of 6 areas in Weslaco, which grades C overall.

Pros of living in Olivarez #5 Colonia

  • Groceries close by. The nearest grocery store is about 0.6 miles from the middle of the neighborhood.
  • Parks within walking distance. The closest park is about 0.4 miles away.

Cons of living in Olivarez #5 Colonia

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

Olivarez #5 Colonia report card

Each grade compares Olivarez #5 Colonia with every neighborhood in Texas. Safety is not graded for single neighborhoods because police report crime for the whole city.

  • Cost of living: grade A

    Median rent $1,010, homes cost 1.5x income.

    90 of 100 vs TX areas

  • Jobs and income: grade D

    Median household income $66,000, 6.0% unemployed.

    19 of 100 vs TX areas

  • Schools: grade B

    Nearby schools average 85 of 100 on the state rating.

    67 of 100 vs TX areas

  • Safety: no grade

    Citywide, 331 violent crimes per 100k, 2,675 property crimes per 100k.

    No score vs TX areas

  • Errands and things to do: grade C

    Most everyday stores and services within a mile of homes.

    47 of 100 vs TX areas

  • Getting around: grade A-

    Average commute 21 min, 9.1% work from home.

    85 of 100 vs TX areas

  • Education levels: grade D+

    22% have a bachelor’s degree.

    25 of 100 vs TX areas

  • Health: grade D+

    30% of adults uninsured.

    26 of 100 vs TX areas

  • Home ownership: grade D-

    63% of homes owner-occupied.

    10 of 100 vs TX areas

  • Internet access: grade C-

    89% of homes have broadband.

    34 of 100 vs TX areas

Olivarez #5 Colonia compared with Weslaco

Better than Weslaco

  • Home value to income: 1.5x35% lower than Weslaco (2.4x)
  • Renters paying 30%+ of income on rent: 35%13 points lower than Weslaco (48%)
  • Homes owned by the people living in them: 63%6 points higher than Weslaco (56%)

Worse than Weslaco

  • Vacant homes: 30%12 points higher than Weslaco (18%)
  • Median rent: $1,0104% higher than Weslaco ($967)

Closest public schools

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

  • BDr R E Margo ElementaryElementary, Weslaco ISD0.6 mi
  • BArmando Cuellar MiddleMiddle, Weslaco ISD0.2 mi
  • BWeslaco East High SchoolHigh, Weslaco ISD0.6 mi

Cost of living in Olivarez #5 Colonia

Median rent in Olivarez #5 Colonia is $1,010 a month, 4% higher than the Weslaco median. A household would need about $40,000 a year to keep that rent at 30% of income.

The median home is worth $101,000, 28% lower than the Weslaco median, which means a monthly payment of about $727 with property tax at today's mortgage rates.

MeasureHereWeslacoTexas
Median rent4% higher than Weslaco$1,010$967$1,403
Median home value28% lower than Weslaco$101,000$140,000$283,800
Home value to income35% lower than Weslaco1.5x2.4x3.6x
Renters paying 30%+ of income on rent13 points lower than Weslaco35%48%52%
Homes owned by the people living in them6 points higher than Weslaco63%56%63%
Vacant homes12 points higher than Weslaco30%18%9.4%
Median year homes were builtAbout the same as Weslaco198919951992

Monthly cost to buy a median home

$727
Mortgage payment
$553
Property tax
$175
Median rent, for comparison
$1,010

Based on a $101,000 home in Olivarez #5 Colonia, 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

MeasureHereWeslacoTexas
Median household income11% higher than Weslaco$66,000$59,551$78,476
Unemployment rate1 points lower than Weslaco6.0%7.1%5.3%
People below the poverty line1 points lower than Weslaco22%23%14%
Adults with a bachelor's degree or higherAbout the same as Weslaco22%23%34%
Average commute13% lower than Weslaco21 min24 min27 min
Workers who work from home2 points higher than Weslaco9.1%7.3%14%
Workers who walk, bike or take transit2 points higher than Weslaco4.9%2.5%2.6%
Homes with broadband internetAbout the same as Weslaco89%89%91%

Natural hazard risk

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

  • River floodingLow
  • HurricanesVery high
  • TornadoesModerate
  • HailVery high
  • Heat wavesHigh
  • WildfiresModerate
  • Winter stormsModerate
  • Strong windLow

Who lives in Olivarez #5 Colonia

Under 1824%
18 to 3423%
35 to 6431%
65 and over23%
Race and ethnicity
White23%
Hispanic or Latino77%
Black0.6%
Asian0.3%
Other or more than one race0%

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

Other neighborhoods in Weslaco

  1. 1B+Southwest WeslacoMedian rent $860
  2. 2BSun Country EstatesMedian rent $1,050
  3. 3BCentral WeslacoMedian rent $1,010
  4. 5B-Roosevelt School ColoniaMedian rent $810
  5. 6C-Northeast WeslacoMedian rent $1,040

Similar neighborhoods in other cities

Areas elsewhere in Texas with the closest mix of grades.

  1. B-North Wichita FallsWichita Falls
  2. B-Central PharrPharr
  3. B-Central MissionMission

Questions about Olivarez #5 Colonia

Is Olivarez #5 Colonia a good place to live?

Olivarez #5 Colonia is a neighborhood in Weslaco, TX, home to about 8,300 people. It gets a B, in the top 36% of Texas neighborhoods, and ranks 4th of 6 areas we score in Weslaco. It does best on cost of living and worst on home ownership.

How much does it cost to live in Olivarez #5 Colonia?

Median rent in Olivarez #5 Colonia is $1,010 a month, 4% higher than the Weslaco median. The median home is worth $101,000, 28% lower than the Weslaco median. A median home costs 1.5x the median household income, compared with 2.4x across Weslaco.

What schools serve Olivarez #5 Colonia?

The closest rated public schools are Dr R E Margo Elementary (elementary, rated B), Armando Cuellar Middle (middle, rated B) and Weslaco East High School (high, rated B). School zones can differ from the closest school, so check with the district.

This area is built from 8 Census block groups closest to the Olivarez #5 Colonia 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.