The City of Woodway was incorporated in 1986. In that same year, it received official city code status, which is a sign of how much the community values its quality of life. It has a long history of preserving the lifestyle of its residents, which it protects today. The town was once threatened by a large residential development at Point Wells, a town adjacent to Woodway on Puget Sound that is only accessible from King County.
In 2019, the median property value in Woodway, Texas was $216,200, which is slightly higher than the national average of $207,100. The homeownership rate was at 90.6%, which is higher than the national average of 64.1%. Most of the homes in Woodway were modest in price and had a minimum of two bedrooms, although the population soon increased. Today, the median property value in Woodway is equal to the national average of two cars per household.
The median annual income in Woodway, TX is $89,196, which is nearly double the national average of $65,712. The city's median household income is also higher than the state's median income of $45,245. This is due to the fact that the median annual income in Woodway, TX was higher than the national average in 2018.