Cost of Living: Newark, NJ vs Waco, TX (2026)

Newark

New Jersey
100
VS

Waco

Texas
72

Newark is 39% more expensive than Waco.

$1,330/mo ↑ 21%
Median Rent
$1,098/mo ↓ 17%
$48,416/yr ↓ 6%
Median Income
$51,468/yr ↑ 6%
$337,800 ↑ 69%
Home Value
$199,600 ↓ 41%
$1,419/mo ↑ 30%
Owner Costs
$1,094/mo ↓ 23%
307,188
Population
141,925

Tax Comparison

10.75%
Income Tax
0%
6.625%
State Sales Tax
6.25%
2.23%
Property Tax
1.6%

Affordability

33.0%
rent-to-income
Affordability
25.6%
rent-to-income

Detailed Comparison

When comparing Newark, NJ and Waco, TX, the overall cost of living indices are 100 and 72 respectively (national median = 100). Rent is $232/month cheaper in Waco, saving renters about $2,784/year.

Median household income is $3,052/year higher in Waco. Home values also differ significantly — the median in Newark is $337,800 compared to $199,600 in Waco.

Texas has no state income tax, giving Waco residents a significant tax advantage over New Jersey's 10.75% rate.

Frequently Asked Questions

Newark vs Waco — common questions

Is Newark or Waco cheaper to live in?
Based on our cost index, Waco is cheaper to live in with an index of 72 compared to 100 (US average = 100).
What is the rent difference between Newark and Waco?
Median rent in Newark is $1,330/month and in Waco it's $1,098/month — a difference of $232/month.
Which city has higher income, Newark or Waco?
Median household income is $48,416 in Newark and $51,468 in Waco. Median household income is $3,052/year higher in Waco.
How do taxes compare between New Jersey and Texas?
New Jersey has 10.75% income tax, 6.625% sales tax, and 2.23% property tax. Texas has 0% income tax, 6.25% sales tax, and 1.6% property tax.
Should I move to Newark or Waco?
It depends on your priorities. Newark has a cost index of 100 with median rent of $1,330/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 Newark details → View Waco details →

More Comparisons

Other cost of living comparisons for Newark and Waco

Newark vs. St. Paul Newark vs. Pittsburgh Newark vs. Irvine Newark vs. Greensboro Newark vs. Cincinnati Newark vs. St. Louis Waco vs. Visalia Waco vs. Fullerton Waco vs. Thornton Waco vs. Metairie Waco vs. Torrance Waco vs. Orange