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

Irving

Texas
102
VS

Waco

Texas
72

Irving is 42% more expensive than Waco.

$1,517/mo ↑ 38%
Median Rent
$1,098/mo ↓ 28%
$79,641/yr ↑ 55%
Median Income
$51,468/yr ↓ 35%
$287,300 ↑ 44%
Home Value
$199,600 ↓ 31%
$1,521/mo ↑ 39%
Owner Costs
$1,094/mo ↓ 28%
255,036
Population
141,925

Tax Comparison

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

Affordability

22.9%
rent-to-income
Affordability
25.6%
rent-to-income

Detailed Comparison

When comparing Irving, TX and Waco, TX, the overall cost of living indices are 102 and 72 respectively (national median = 100). Rent is $419/month cheaper in Waco, saving renters about $5,028/year.

Median household income is $28,173/year higher in Irving. Home values also differ significantly — the median in Irving is $287,300 compared to $199,600 in Waco.

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

Frequently Asked Questions

Irving vs Waco — common questions

Is Irving or Waco cheaper to live in?
Based on our cost index, Waco is cheaper to live in with an index of 72 compared to 102 (US average = 100).
What is the rent difference between Irving and Waco?
Median rent in Irving is $1,517/month and in Waco it's $1,098/month — a difference of $419/month.
Which city has higher income, Irving or Waco?
Median household income is $79,641 in Irving and $51,468 in Waco. Median household income is $28,173/year higher in Irving.
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 Irving or Waco?
It depends on your priorities. Irving has a cost index of 102 with median rent of $1,517/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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