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

Waco

Texas
72
VS

Odessa

Texas
83

Waco is 13% cheaper than Odessa.

$1,098/mo ↓ 17%
Median Rent
$1,322/mo ↑ 20%
$51,468/yr ↓ 30%
Median Income
$73,030/yr ↑ 42%
$199,600 ↓ 4%
Home Value
$208,000 ↑ 4%
$1,094/mo ↓ 13%
Owner Costs
$1,251/mo ↑ 14%
141,925
Population
114,080

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
21.7%
rent-to-income

Detailed Comparison

When comparing Waco, TX and Odessa, TX, the overall cost of living indices are 72 and 83 respectively (national median = 100). Rent is $224/month cheaper in Waco, saving renters about $2,688/year.

Median household income is $21,562/year higher in Odessa. Home values also differ significantly — the median in Waco is $199,600 compared to $208,000 in Odessa.

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

Frequently Asked Questions

Waco vs Odessa — common questions

Is Waco or Odessa cheaper to live in?
Based on our cost index, Waco is cheaper to live in with an index of 72 compared to 83 (US average = 100).
What is the rent difference between Waco and Odessa?
Median rent in Waco is $1,098/month and in Odessa it's $1,322/month — a difference of $224/month.
Which city has higher income, Waco or Odessa?
Median household income is $51,468 in Waco and $73,030 in Odessa. Median household income is $21,562/year higher in Odessa.
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 Odessa?
It depends on your priorities. Waco has a cost index of 72 with median rent of $1,098/mo, while Odessa has a cost index of 83 with rent of $1,322/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
View Waco details → View Odessa details →

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