Cost of Living: Waco, TX vs Phoenix, AZ
Quick rent-and-take-home comparison
Using a baseline of $70,000/yr gross, take-home is about $4,516/mo in Waco, TX versus $4,370/mo in Phoenix, AZ. In the model, rent is about 15.99% of gross in Waco, TX versus 21.24% in Phoenix, AZ, so Waco, TX tends to feel more affordable for rent.
Compare cost of living, rent, housing prices, and salary affordability between Waco, TX and Phoenix, AZ.
At a glance
- Cheaper overall (lower cost-of-living index): Waco, TX
- Lower rent (median 1BR/2BR): Waco, TX
- Lower home prices: Waco, TX
- Higher median household income: Phoenix, AZ
Cost of Living Index
Waco, TX: 100 (U.S. = 100) · Phoenix, AZ: 102.4 (U.S. = 100)
Waco, TX has a lower cost-of-living index than Phoenix, AZ, so a given salary generally stretches further there.
Median Rent
Waco, TX: $1,043/mo (midpoint of 1BR/2BR) · Phoenix, AZ: $1,385/mo
Median rent in Phoenix, AZ is $342/mo higher than in Waco, TX.
Median Home Price
Waco, TX: $199,600 · Phoenix, AZ: $381,900
Median home price in Phoenix, AZ is $182,300 higher than in Waco, TX.
Median Household Income
Waco, TX: $51,468 · Phoenix, AZ: $77,041
Phoenix, AZ has a higher median household income than Waco, TX by $25,573.
Waco, TX overview · Phoenix, AZ overview · Popular comparisons