Cost of Living: Austin, TX vs Waco, TX (2026)

Austin

Texas
134
VS

Waco

Texas
72

Austin is 86% more expensive than Waco.

$1,655/mo ↑ 51%
Median Rent
$1,098/mo ↓ 34%
$91,461/yr ↑ 78%
Median Income
$51,468/yr ↓ 44%
$512,700 ↑ 157%
Home Value
$199,600 ↓ 61%
$1,747/mo ↑ 60%
Owner Costs
$1,094/mo ↓ 37%
967,862
Population
141,925

Tax Comparison

0%
Income Tax
0%
6.25%
State Sales Tax
6.25%
1.6%
Property Tax
1.6%

Affordability

21.7%
rent-to-income
Affordability
25.6%
rent-to-income

Detailed Comparison

When comparing Austin, TX and Waco, TX, the overall cost of living indices are 134 and 72 respectively (national median = 100). Rent is $557/month cheaper in Waco, saving renters about $6,684/year.

Median household income is $39,993/year higher in Austin. Home values also differ significantly — the median in Austin is $512,700 compared to $199,600 in Waco.

Both cities share the same state tax structure since they are in Texas.

Frequently Asked Questions

Austin vs Waco — common questions

Is Austin or Waco cheaper to live in?
Based on our cost index, Waco is cheaper to live in with an index of 72 compared to 134 (US average = 100).
What is the rent difference between Austin and Waco?
Median rent in Austin is $1,655/month and in Waco it's $1,098/month — a difference of $557/month.
Which city has higher income, Austin or Waco?
Median household income is $91,461 in Austin and $51,468 in Waco. Median household income is $39,993/year higher in Austin.
How do taxes compare between Texas and Texas?
Both cities are in Texas and share the same state tax rates: 0% income tax, 6.25% sales tax, and 1.6% property tax.
Should I move to Austin or Waco?
It depends on your priorities. Austin has a cost index of 134 with median rent of $1,655/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.
View Austin details → View Waco details →

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