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

Waco

Texas
72
VS

Richardson

Texas
128

Waco is 44% cheaper than Richardson.

$1,098/mo ↓ 40%
Median Rent
$1,825/mo ↑ 66%
$51,468/yr ↓ 47%
Median Income
$96,257/yr ↑ 87%
$199,600 ↓ 51%
Home Value
$405,600 ↑ 103%
$1,094/mo ↓ 39%
Owner Costs
$1,796/mo ↑ 64%
141,925
Population
118,269

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
22.8%
rent-to-income

Detailed Comparison

When comparing Waco, TX and Richardson, TX, the overall cost of living indices are 72 and 128 respectively (national median = 100). Rent is $727/month cheaper in Waco, saving renters about $8,724/year.

Median household income is $44,789/year higher in Richardson. Home values also differ significantly — the median in Waco is $199,600 compared to $405,600 in Richardson.

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

Frequently Asked Questions

Waco vs Richardson — common questions

Is Waco or Richardson cheaper to live in?
Based on our cost index, Waco is cheaper to live in with an index of 72 compared to 128 (US average = 100).
What is the rent difference between Waco and Richardson?
Median rent in Waco is $1,098/month and in Richardson it's $1,825/month — a difference of $727/month.
Which city has higher income, Waco or Richardson?
Median household income is $51,468 in Waco and $96,257 in Richardson. Median household income is $44,789/year higher in Richardson.
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 Richardson?
It depends on your priorities. Waco has a cost index of 72 with median rent of $1,098/mo, while Richardson has a cost index of 128 with rent of $1,825/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
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