Waco

Waco, Texas is a growing city with a population of approximately 144,816. The overall cost of living index sits at 91, which is below the national average of 100. This means everyday expenses — housing, groceries, transportation, and healthcare — are roughly 9% less expensive compared to the typical U.S. city.

Housing is the largest cost driver in Waco. Median rent is $1,368 per month, while the median home price is $191,908. At a median household income of $51,468, rent consumes roughly 32% of gross income, which represents a moderate housing cost burden. The housing sub-index of 77 reflects well below-average housing expenses.

Beyond housing, healthcare is the most elevated non-shelter expense in Waco with a sub-index of 93, while utilities is comparatively more affordable at 83. State-level taxes also shape the true cost of living: Texas applies a 0.00% income tax rate, and property tax averages 1.60% of assessed home value. The combined sales tax rate is 8.19%. Local income tax may apply in some municipalities.

Over the past twelve months, the cost of living in Waco has trended upward. Among the 40 tracked cities in Texas, Waco ranks #6 from most to least affordable. Whether you're evaluating a job offer, planning a relocation, or comparing salary purchasing power, these numbers give a grounded, data-backed view of what life in Waco actually costs.