Cost of Living: Madison, WI vs Waco, TX (2026)

Madison

Wisconsin
103
VS

Waco

Texas
72

Madison is 43% more expensive than Waco.

$1,364/mo ↑ 24%
Median Rent
$1,098/mo ↓ 20%
$76,983/yr ↑ 50%
Median Income
$51,468/yr ↓ 33%
$346,900 ↑ 74%
Home Value
$199,600 ↓ 42%
$1,476/mo ↑ 35%
Owner Costs
$1,094/mo ↓ 26%
275,568
Population
141,925

Tax Comparison

7.65%
Income Tax
0%
5.0%
State Sales Tax
6.25%
1.61%
Property Tax
1.6%

Affordability

21.3%
rent-to-income
Affordability
25.6%
rent-to-income

Detailed Comparison

When comparing Madison, WI and Waco, TX, the overall cost of living indices are 103 and 72 respectively (national median = 100). Rent is $266/month cheaper in Waco, saving renters about $3,192/year.

Median household income is $25,515/year higher in Madison. Home values also differ significantly — the median in Madison is $346,900 compared to $199,600 in Waco.

Texas has no state income tax, giving Waco residents a significant tax advantage over Wisconsin's 7.65% rate.

Frequently Asked Questions

Madison vs Waco — common questions

Is Madison or Waco cheaper to live in?
Based on our cost index, Waco is cheaper to live in with an index of 72 compared to 103 (US average = 100).
What is the rent difference between Madison and Waco?
Median rent in Madison is $1,364/month and in Waco it's $1,098/month — a difference of $266/month.
Which city has higher income, Madison or Waco?
Median household income is $76,983 in Madison and $51,468 in Waco. Median household income is $25,515/year higher in Madison.
How do taxes compare between Wisconsin and Texas?
Wisconsin has 7.65% income tax, 5.0% sales tax, and 1.61% property tax. Texas has 0% income tax, 6.25% sales tax, and 1.6% property tax.
Should I move to Madison or Waco?
It depends on your priorities. Madison has a cost index of 103 with median rent of $1,364/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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