Cost of Living: Albuquerque, NM vs Waco, TX (2026)

Albuquerque

New Mexico
80
VS

Waco

Texas
72

Albuquerque is 8% more expensive than Waco.

$1,085/mo ↓ 1%
Median Rent
$1,098/mo ↑ 1%
$65,604/yr ↑ 27%
Median Income
$51,468/yr ↓ 22%
$266,700 ↑ 34%
Home Value
$199,600 ↓ 25%
$1,149/mo ↑ 5%
Owner Costs
$1,094/mo ↓ 5%
562,488
Population
141,925

Tax Comparison

5.9%
Income Tax
0%
5.0%
Sales Tax
6.25%
0.67%
Property Tax
1.6%

Affordability

19.8%
rent-to-income
Affordability
25.6%
rent-to-income

Detailed Comparison

When comparing Albuquerque, NM and Waco, TX, the overall cost of living indices are 80 and 72 respectively (national median = 100). Rent is comparable in both cities, with less than $50/month separating them.

Median household income is $14,136/year higher in Albuquerque. Home values also differ significantly — the median in Albuquerque is $266,700 compared to $199,600 in Waco.

Texas has no state income tax, giving Waco residents a significant tax advantage over New Mexico's 5.9% rate.

Frequently Asked Questions

Albuquerque vs Waco — common questions

Is Albuquerque or Waco cheaper to live in?
Based on our cost index, Waco is cheaper to live in with an index of 72 compared to 80 (US average = 100).
What is the rent difference between Albuquerque and Waco?
Median rent in Albuquerque is $1,085/month and in Waco it's $1,098/month — a difference of $13/month.
Which city has higher income, Albuquerque or Waco?
Median household income is $65,604 in Albuquerque and $51,468 in Waco. Median household income is $14,136/year higher in Albuquerque.
How do taxes compare between New Mexico and Texas?
New Mexico has 5.9% income tax, 5.0% sales tax, and 0.67% property tax. Texas has 0% income tax, 6.25% sales tax, and 1.6% property tax.
Should I move to Albuquerque or Waco?
It depends on your priorities. Albuquerque has a cost index of 80 with median rent of $1,085/mo, while Waco has a cost index of 72 with rent of $1,098/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
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