Cost of Living: Billings vs Waco (2026)
Waco has a 7% lower overall cost of living than Billings as of Q1 2026. A one-bedroom apartment runs $1,000/mo in Waco vs $1,200/mo in Billings — a 20% difference. Waco has no state income tax, giving residents more take-home pay than those in Billings (6.8% rate).
- Waco is 7% cheaper overall (COL index: 89 vs 83)
- 1BR rent: $1,000/mo in Waco vs $1,200/mo — 17% savings
- Waco has 0% state income tax — saves ~$3,300+/yr at a $75K salary
- Higher median household income: Billings ($60,000/yr vs $48,000/yr)
- Median home price: $210,000 in Waco vs $320,000 — 34% difference
| Category | Billings Montana | Waco Texas |
|---|---|---|
| 🏠 HousingQ1 2026 | ||
| Studio rent/mo | $950 | $800Best |
| 1BR rent/mo | $1,200 | $1,000Best |
| 2BR rent/mo | $1,600 | $1,300Best |
| Median home price | $320K | $210KBest |
| 🛒 Food & GroceriesQ1 2026 | ||
| Groceries index (100 = US avg) | 97 | 92Best |
| Budget meal (1 person) | $12 | $11Best |
| Mid-range dinner (2) | $52 | $46Best |
| 🚌 TransportationQ1 2026 | ||
| Monthly transit pass/mo | $42 | $38Best |
| Gas price/gal | $3.45 | $3.00Best |
| Car insurance/mo | $138Best | $162 |
| ⚡ UtilitiesQ1 2026 | ||
| Monthly utilities bundle/mo | $148Best | $172 |
| Internet/mo | $68 | $60Best |
| 💰 Income & TaxesQ1 2026 | ||
| Median household income/yr | $60KBest | $48K |
| State income tax% | 6.8% | 0.0%Best |
| Sales tax (combined)% | 0.0%Best | 8.3% |
| 🎬 LeisureQ1 2026 | ||
| Movie ticket | $14.00 | $12.00Best |
| Gym membership/mo | $35 | $30Best |
| Beer at restaurant | $5.50 | $4.50Best |
| 📊 OverviewQ1 2026 | ||
| Overall COL index (100 = US avg) | 89 | 83Best |
| Walk score / 100 | 26Best | 22 |
Frequently asked questions
Is Billings cheaper than Waco?
No. Waco is 7% cheaper than Billings based on overall cost of living indices (83 vs 89, where 100 = US average).
What is the average rent in Billings vs Waco?
As of Q1 2026, the median 1-bedroom rent in Billings is $1,200/month and in Waco is $1,000/month. Billings is more expensive by 20%.
How much do I need to earn in Waco to match a $75,000 salary in Billings?
To maintain a similar lifestyle, you would need approximately $69,944/year in Waco to match a $75,000 salary in Billings. This estimate is based on overall cost of living indices and does not account for individual spending patterns.
Which city has lower taxes — Billings or Waco?
Waco has the lower state income tax rate at 0% vs 6.8%. Waco has no state income tax at all, which can save thousands of dollars per year depending on your income. Note that sales tax and local taxes also vary — see the full breakdown in the table above.
Is it worth moving from Billings to Waco?
It depends on your priorities. Waco offers lower overall costs and tax advantages, but both cities have different job markets, weather, and lifestyle trade-offs. Use the comparison table above to evaluate rent, groceries, transportation, and income potential side by side based on your specific budget.
Data sourced from Zillow, BLS, Numbeo, Tax Foundation, and US Census ACS · Updated Q1 2026 · For general guidance only
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