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Cost of Living in Waco

Is it better to rent or buy in Waco? Explore median costs, utility estimates, and run the numbers on your own budget to see how far your income goes.

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Rent vs. Buy Affordability Calculator

Adjust the sliders to match your scenario. We recommend keeping total housing costs under 40% of your gross income.

$71,247
$1,211/mo

Median in area: $1,211

$228,137

Median in area: $228,137

$45,627

If you Rent

🔑
$1,304 /mo
Base Rent$1,211
Est. Utilities$93
% of Income22.0%
Pre-tax Residual$4,633

If you Buy

🏠
$1,625 /mo
P&I (6.5%)$1,154
Taxes & Ins$378
Est. Utilities$93
% of Income27.4%
Pre-tax Residual$4,313

Cost of Living FAQs

Is it cheaper to rent or buy in Waco?›

Based on median housing data, renting is currently more affordable on a monthly basis in Waco. The estimated all-in monthly cost for renting is $1,304, while owning a median-priced home with a 20% down payment is roughly $1,625 per month (a difference of $321).

How much do utilities cost in Waco?›

The average monthly utility cost (electricity and natural gas) for a typical home in Waco is approximately $93. This estimate uses local utility rate schedules combined with median energy consumption profiles.

What is a good salary to live comfortably in Waco?›

To comfortably afford the median rent and utilities in Waco without exceeding the recommended 30% housing-to-income threshold, a household should earn a gross salary of approximately $52,160 per year.