Median rent is 34% lower in Waco ($1,098/mo vs $1,655/mo). Buying is cheaper in Waco, where the median home runs $199,600 versus $512,700. Households earn more in Austin ($91,461 vs $51,468 a year).
City A
Austin, TX
City B
Waco, TX
How much would you need to earn in Waco, TX to maintain your standard of living from Austin, TX?
A cost-of-living index isn't available for one of these cities yet, so we can't compute an equivalent salary.
Based on BEA Regional Price Parity (cost index) for each city's metro area. A rough estimate of overall purchasing power, not tax or take-home pay.
Metric
Austin
Texas
Waco
Texas
👥Population
💰Median Household Income
Annual
🏠Median Gross Rent
Per month
🏡Median Home Value
📊Cost of Living Index
US avg = 100
🔑1BR Fair Market Rent
HUD FMR
🔑2BR Fair Market Rent
HUD FMR
🔑3BR Fair Market Rent
HUD FMR
🌬️Air Quality Index
Lower = cleaner
🏛️Top State Income Tax
Top marginal rate
🧾State Sales Tax
Statewide base rate
🎂Median Age
Years
✓ = better value · Sources: US Census ACS, BEA RPP, HUD FMR, EPA AirNow, Tax Foundation
Renters will find significantly cheaper housing in Waco — median rent of $1,098/mo versus $1,655/mo in Austin, a 34% difference. Home buyers face a steeper market in Austin: the median home is $512,700 versus $199,600 in Waco — 61% more expensive.
1BR Fair Market Rent
2BR Fair Market Rent
BLS OEWS 2023 — metro-level data
Both Texas and Texas have no state income tax — a notable advantage for workers in both cities. Sales tax is 6.25% in Texas and 6.25% in Texas; Waco has the lower rate (local add-ons may apply in both).
Austin
Income tax: None
Sales tax: 6.25%
Waco
Income tax: None
Sales tax: 6.25%
Waco has cleaner air on average: 34.0 AQI (Good) compared to 47.0 AQI (Good) in the other city. Lower AQI means cleaner, healthier air.
Pick Austin if you prioritize higher median household income ($91,461/yr).
Pick Waco if you prioritize cheaper rent ($1,098/mo median).
Pick Waco if you prioritize cleaner air quality (avg AQI 34.0).
Is Austin cheaper than Waco?
Cost of living index data is not yet available for one or both cities.
How much is rent in Austin vs Waco?
Median rent is $1,655/mo in Austin, TX and $1,098/mo in Waco, TX. Waco, TX has the lower rent by about 34%.
Which has higher salaries — Austin or Waco?
Median household income is $91,461 in Austin, TX and $51,468 in Waco, TX. Austin, TX has the higher median income. Note that BLS occupational wages in the table above show wages for specific jobs.
Which city has better air quality?
Waco, TX has better air quality on average: 34.0 AQI versus 47.0 AQI. Both are EPA AirNow annual averages; lower is better.
Which has lower taxes — Austin or Waco?
Both Texas and Texas have no state income tax.
What salary do I need in Waco to match my Austin income?
RPP data needed for salary equivalence calculation is not yet available.
Data last updated: December 1, 2024 · Sources: US Census ACS, BEA RPP, BLS OEWS, HUD FMR, EPA AirNow, Tax Foundation · Methodology