Cost of Living: Waco, TX vs Lakeland, FL (2026)

Waco

Texas
72
VS

Lakeland

Florida
82

Waco is 12% cheaper than Lakeland.

$1,098/mo ↓ 15%
Median Rent
$1,299/mo ↑ 18%
$51,468/yr ↓ 16%
Median Income
$60,947/yr ↑ 18%
$199,600 ↓ 13%
Home Value
$229,100 ↑ 15%
$1,094/mo ↓ 5%
Owner Costs
$1,149/mo ↑ 5%
141,925
Population
117,030

Tax Comparison

0%
Income Tax
0%
6.25%
State Sales Tax
6.0%
1.6%
Property Tax
0.86%

Affordability

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

Detailed Comparison

When comparing Waco, TX and Lakeland, FL, the overall cost of living indices are 72 and 82 respectively (national median = 100). Rent is $201/month cheaper in Waco, saving renters about $2,412/year.

Median household income is $9,479/year higher in Lakeland. Home values also differ significantly — the median in Waco is $199,600 compared to $229,100 in Lakeland.

Frequently Asked Questions

Waco vs Lakeland — common questions

Is Waco or Lakeland cheaper to live in?
Based on our cost index, Waco is cheaper to live in with an index of 72 compared to 82 (US average = 100).
What is the rent difference between Waco and Lakeland?
Median rent in Waco is $1,098/month and in Lakeland it's $1,299/month — a difference of $201/month.
Which city has higher income, Waco or Lakeland?
Median household income is $51,468 in Waco and $60,947 in Lakeland. Median household income is $9,479/year higher in Lakeland.
How do taxes compare between Texas and Florida?
Texas has 0% income tax, 6.25% sales tax, and 1.6% property tax. Florida has 0% income tax, 6.0% sales tax, and 0.86% property tax.
Should I move to Waco or Lakeland?
It depends on your priorities. Waco has a cost index of 72 with median rent of $1,098/mo, while Lakeland has a cost index of 82 with rent of $1,299/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
View Waco details → View Lakeland details →

More Comparisons

Other cost of living comparisons for Waco and Lakeland

Waco vs. Visalia Waco vs. Fullerton Waco vs. Thornton Waco vs. Metairie Waco vs. Torrance Waco vs. Orange Lakeland vs. Clearwater Lakeland vs. The Woodlands Lakeland vs. North Charleston Lakeland vs. Evansville Lakeland vs. Cambridge Lakeland vs. Brandon