Waco, TX Cost Of Living
Cost Of Living In Waco, TX Summary
Cost of living in Waco research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Waco is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Texas, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Waco is 93, with 100 being the average.
The cost of living index in Waco is 0.9x lower than the national average.
Waco ranks as the #164 cheapest in Texas out of 414.
Waco ranks as the #1,658 cheapest out of 6,489 in the US.
The median home value in Waco is $191,828.
The median income in Waco is $51,468.
Table Of Contents
Waco's Overall Cost Of Living
Lower Than The National Average
What is the cost of living in Waco, TX?
According to the most recent data on the cost of living, Waco has an overall cost of living index of 93, which is 0.9x lower than the national index of 100.
Compared to Texas, Waco has a cost of living index that's 1.0x higher than Texas's index of 92.
The standard of living in Waco ranks as #164 most affordable out of the 414 places we measured in Texas. By definition, that implies Waco ranks as the #250 most expensive place in the Lone Star State.
For more reading on life in Waco, check out:
In Texas
In America
Waco Cost Of Living Vs. Texas
Six factors go into calculating the cost of living index in Waco. Here is how it fairs on each of the criteria:
The Services index in Waco is 101.
The Groceries index in Waco is 93.
The Health index in Waco is 92.
The Housing index in Waco is 79.
The Transportation index in Waco is 92.
The Utilities index in Waco is 107.
| Living Expense | Waco | Texas | National Average | |
|---|---|---|---|---|
| Overall | 93 | 92 | 100 | |
| Services | 101 | 97 | 100 | |
| Groceries | 93 | 97 | 100 | |
| Health | 92 | 93 | 100 | |
| Housing | 79 | 82 | 100 | |
| Transportation | 92 | 94 | 100 | |
| Utilities | 107 | 104 | 100 | |
Waco, TX Housing Cost Breakdown
Housing swings affordability the most between places in Texas, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2019-2023. The key points are:
The Median Home Value in Waco is $191,828.
The Median Rent in Waco is $1,098.
The Median Income in Waco is $51,468.
The Home Value To Income in Waco is 3.7x.
The Rent To Monthly Income in Waco is 0.26x.
Median Home Value
Median Rent
Median Income
Waco, TX Costs By Category
Detailed Waco Services Costs Vs. Texas
Detailed Waco Groceries Costs Vs. Texas
Detailed Waco Health Costs Vs. Texas
Detailed Waco Transportation Costs Vs. Texas
Detailed Waco Utilities Costs Vs. Texas
Waco SnackAbility
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Cost Of Living In Cities Around Waco
The cost of living varies in the cities and towns around Waco. Here's a quick look at the cost of living in the most populous nearby places:
Killeen, TX has a cost of living index of 90, 1.0x Waco.
Temple, TX has a cost of living index of 90, 1.0x Waco.
Harker Heights, TX has a cost of living index of 95, 1.0x Waco.
| City | Population | Cost Of Living | Vs. Waco |
|---|---|---|---|
| Killeen, TX | 156,144 | 90 | 1.0x |
| Temple, TX | 86,358 | 90 | 1.0x |
| Harker Heights, TX | 33,595 | 95 | 1.0x |
| Fort Hood, TX | 25,786 | 103 | 1.1x |
| Belton, TX | 23,769 | 95 | 1.0x |
| Hewitt, TX | 16,244 | 102 | 1.1x |
| Gatesville, TX | 16,058 | 86 | 0.9x |
| Robinson, TX | 12,668 | 100 | 1.1x |
| Bellmead, TX | 10,550 | 86 | 0.9x |
| Woodway, TX | 9,483 | 108 | 1.2x |
