Cost of Living: Waco, TX vs Elgin, IL (2026)

Waco

Texas
72
VS

Elgin

Illinois
90

Waco is 20% cheaper than Elgin.

$1,098/mo ↓ 13%
Median Rent
$1,260/mo ↑ 15%
$51,468/yr ↓ 42%
Median Income
$88,316/yr ↑ 72%
$199,600 ↓ 21%
Home Value
$252,400 ↑ 26%
$1,094/mo ↓ 27%
Owner Costs
$1,502/mo ↑ 37%
141,925
Population
114,106

Tax Comparison

0%
Income Tax
4.95%
6.25%
State Sales Tax
6.25%
1.6%
Property Tax
2.07%

Affordability

25.6%
rent-to-income
Affordability
17.1%
rent-to-income

Detailed Comparison

When comparing Waco, TX and Elgin, IL, the overall cost of living indices are 72 and 90 respectively (national median = 100). Rent is $162/month cheaper in Waco, saving renters about $1,944/year.

Median household income is $36,848/year higher in Elgin. Home values also differ significantly — the median in Waco is $199,600 compared to $252,400 in Elgin.

Texas has no state income tax, giving Waco residents a significant tax advantage over Illinois's 4.95% rate.

Frequently Asked Questions

Waco vs Elgin — common questions

Is Waco or Elgin cheaper to live in?
Based on our cost index, Waco is cheaper to live in with an index of 72 compared to 90 (US average = 100).
What is the rent difference between Waco and Elgin?
Median rent in Waco is $1,098/month and in Elgin it's $1,260/month — a difference of $162/month.
Which city has higher income, Waco or Elgin?
Median household income is $51,468 in Waco and $88,316 in Elgin. Median household income is $36,848/year higher in Elgin.
How do taxes compare between Texas and Illinois?
Texas has 0% income tax, 6.25% sales tax, and 1.6% property tax. Illinois has 4.95% income tax, 6.25% sales tax, and 2.07% property tax.
Should I move to Waco or Elgin?
It depends on your priorities. Waco has a cost index of 72 with median rent of $1,098/mo, while Elgin has a cost index of 90 with rent of $1,260/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
View Waco details → View Elgin details →

More Comparisons

Other cost of living comparisons for Waco and Elgin

Waco vs. Visalia Waco vs. Fullerton Waco vs. Thornton Waco vs. Metairie Waco vs. Torrance Waco vs. Orange Elgin vs. Provo Elgin vs. Odessa Elgin vs. Waterbury Elgin vs. Springfield Elgin vs. Carlsbad Elgin vs. Beaumont