Cost of Living: Colorado Springs, CO vs Waco, TX (2026)

Colorado Springs

Colorado
119
VS

Waco

Texas
72

Colorado Springs is 65% more expensive than Waco.

$1,562/mo ↑ 42%
Median Rent
$1,098/mo ↓ 30%
$83,198/yr ↑ 62%
Median Income
$51,468/yr ↓ 38%
$420,700 ↑ 111%
Home Value
$199,600 ↓ 53%
$1,592/mo ↑ 46%
Owner Costs
$1,094/mo ↓ 31%
483,099
Population
141,925

Tax Comparison

4.4%
Income Tax
0%
2.9%
State Sales Tax
6.25%
0.51%
Property Tax
1.6%

Affordability

22.5%
rent-to-income
Affordability
25.6%
rent-to-income

Detailed Comparison

When comparing Colorado Springs, CO and Waco, TX, the overall cost of living indices are 119 and 72 respectively (national median = 100). Rent is $464/month cheaper in Waco, saving renters about $5,568/year.

Median household income is $31,730/year higher in Colorado Springs. Home values also differ significantly — the median in Colorado Springs is $420,700 compared to $199,600 in Waco.

Texas has no state income tax, giving Waco residents a significant tax advantage over Colorado's 4.4% rate.

Frequently Asked Questions

Colorado Springs vs Waco — common questions

Is Colorado Springs or Waco cheaper to live in?
Based on our cost index, Waco is cheaper to live in with an index of 72 compared to 119 (US average = 100).
What is the rent difference between Colorado Springs and Waco?
Median rent in Colorado Springs is $1,562/month and in Waco it's $1,098/month — a difference of $464/month.
Which city has higher income, Colorado Springs or Waco?
Median household income is $83,198 in Colorado Springs and $51,468 in Waco. Median household income is $31,730/year higher in Colorado Springs.
How do taxes compare between Colorado and Texas?
Colorado has 4.4% income tax, 2.9% sales tax, and 0.51% property tax. Texas has 0% income tax, 6.25% sales tax, and 1.6% property tax.
Should I move to Colorado Springs or Waco?
It depends on your priorities. Colorado Springs has a cost index of 119 with median rent of $1,562/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 Colorado Springs details → View Waco details →

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