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

Waco

Texas
72
VS

Midland

Texas
99

Waco is 27% cheaper than Midland.

$1,098/mo ↓ 22%
Median Rent
$1,407/mo ↑ 28%
$51,468/yr ↓ 44%
Median Income
$91,169/yr ↑ 77%
$199,600 ↓ 33%
Home Value
$298,600 ↑ 50%
$1,094/mo ↓ 25%
Owner Costs
$1,468/mo ↑ 34%
141,925
Population
133,998

Tax Comparison

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

Affordability

25.6%
rent-to-income
Affordability
18.5%
rent-to-income

Detailed Comparison

When comparing Waco, TX and Midland, TX, the overall cost of living indices are 72 and 99 respectively (national median = 100). Rent is $309/month cheaper in Waco, saving renters about $3,708/year.

Median household income is $39,701/year higher in Midland. Home values also differ significantly — the median in Waco is $199,600 compared to $298,600 in Midland.

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

Frequently Asked Questions

Waco vs Midland — common questions

Is Waco or Midland cheaper to live in?
Based on our cost index, Waco is cheaper to live in with an index of 72 compared to 99 (US average = 100).
What is the rent difference between Waco and Midland?
Median rent in Waco is $1,098/month and in Midland it's $1,407/month — a difference of $309/month.
Which city has higher income, Waco or Midland?
Median household income is $51,468 in Waco and $91,169 in Midland. Median household income is $39,701/year higher in Midland.
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 Waco or Midland?
It depends on your priorities. Waco has a cost index of 72 with median rent of $1,098/mo, while Midland has a cost index of 99 with rent of $1,407/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
View Waco details → View Midland details →

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