What salary do you need to live in Waco, TX?

Waco housing costs at a glance

A one-bedroom in Waco rents for a median of $921 a month, utilities the tenant pays included; a two-bedroom goes for $1,151 and a three-bedroom for $1,411. Over a full year, the two-bedroom median comes to $13,812.

Homeowners in Waco report a median home value of $234,100. With median household income at $66,205, a typical home costs 3.5× a typical income, close to the middle of the range across US metros.

The Regional Price Parity, BEA's index of local prices with the US at 100, is 92.5 here. Below 100 means a paycheck stretches further: $100,000 in Waco has the buying power of roughly $108,050 at national average prices.

Income needed for each grade in Waco

For two bedrooms, $123,000 is where Waco turns Comfortable. Below that, $61,000 marks the start of Okay and $31,000 the start of Tight; under $31,000 the score reads Stretched. Rent at the Comfortable line is 11% of gross pay.

The Royal grade is within reach at $364,000 a year, where both rent and the median home price look small next to income.

How they were found: the same scoring function the calculator runs was evaluated at rising incomes until each cutoff was crossed, and the crossing rounded up to a whole $1,000.

Four salaries, three home sizes in Waco

On $75,000, a one-bedroom scores 54 and a three-bedroom 48, both Okay; the extra bedrooms cost points but not a grade.

Of the four salaries, $150,000 is the first where a two-bedroom reads Comfortable or better; $100,000 still lands at Okay.

How Waco ranks among 387 metros

Out of 387 metros, Waco has the 229th highest price parity and the 174th highest two-bedroom rent, which puts it near the middle on overall prices and in the middle half on rent.

Knoxville, TN ($1,153) and Pittsfield, MA ($1,150) bracket Waco on two-bedroom rent.

Waco in a Texas context

Compared with Texas as a whole, two-bedroom rent in Waco is 17% lower ($1,151 vs. $1,395) and the median home is 18% lower ($234,100 vs. $283,800).

Scored the same way, the statewide figures turn Comfortable at $166,000, so Waco needs $43,000 less than Texas overall.

Within Texas, the metros closest to Waco on rent and overall prices are San Angelo, TX, Lubbock, TX, and Abilene, TX. Their Comfortable lines for two bedrooms sit at $116,000, $110,000, and $102,000.

Waco's median income on the scale

A household at the Waco median income of $66,205 would see a two-bedroom score of 47 — Okay — with rent at 21% of income. Put differently, Waco's typical household is $56,795 below the $123,000 it takes to read Comfortable on two bedrooms. For Texas as a whole, the median household income of $78,476 scores 44 against statewide rents. Household income can include more than one earner, so a single salary of the same size goes less far.

These are pre-tax estimates from public statistics, not financial advice.