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

McKinney

Texas
138
VS

Waco

Texas
72

McKinney is 92% more expensive than Waco.

$1,841/mo ↑ 68%
Median Rent
$1,098/mo ↓ 40%
$120,273/yr ↑ 134%
Median Income
$51,468/yr ↓ 57%
$439,500 ↑ 120%
Home Value
$199,600 ↓ 55%
$2,101/mo ↑ 92%
Owner Costs
$1,094/mo ↓ 48%
202,314
Population
141,925

Tax Comparison

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

Affordability

18.4%
rent-to-income
Affordability
25.6%
rent-to-income

Detailed Comparison

When comparing McKinney, TX and Waco, TX, the overall cost of living indices are 138 and 72 respectively (national median = 100). Rent is $743/month cheaper in Waco, saving renters about $8,916/year.

Median household income is $68,805/year higher in McKinney. Home values also differ significantly — the median in McKinney is $439,500 compared to $199,600 in Waco.

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

Frequently Asked Questions

McKinney vs Waco — common questions

Is McKinney or Waco cheaper to live in?
Based on our cost index, Waco is cheaper to live in with an index of 72 compared to 138 (US average = 100).
What is the rent difference between McKinney and Waco?
Median rent in McKinney is $1,841/month and in Waco it's $1,098/month — a difference of $743/month.
Which city has higher income, McKinney or Waco?
Median household income is $120,273 in McKinney and $51,468 in Waco. Median household income is $68,805/year higher in McKinney.
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 McKinney or Waco?
It depends on your priorities. McKinney has a cost index of 138 with median rent of $1,841/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 McKinney details → View Waco details →

More Comparisons

Other cost of living comparisons for McKinney and Waco

McKinney vs. Little Rock McKinney vs. Augusta McKinney vs. Salt Lake City McKinney vs. Oxnard McKinney vs. Columbus McKinney vs. Amarillo Waco vs. Visalia Waco vs. Fullerton Waco vs. Thornton Waco vs. Metairie Waco vs. Torrance Waco vs. Orange