Can I Afford to Live in Memphis vs Waco on $150K?
Here's how a $150K/year salary plays out in both cities after taxes, rent, and core living expenses — based on Q1 2026 data.
Monthly budget breakdown
| Expense | Memphis TN | Waco TX |
|---|---|---|
| Monthly take-home (est.) | $8,944 | $8,944 |
| 1BR rent | $1,100 | $1,000 |
| Groceries (est.) | $357 | $350 |
| Transport (est.) | $55 | $38 |
| Utilities | $170 | $172 |
| Internet | $55 | $60 |
| Left after essentials | $7,207/month | $7,324/month |
Frequently asked questions
Is $150K a good salary in Memphis?
At $150K/year in Memphis, your estimated monthly take-home is $8,944. With 1BR rent around $1,100/month, rent takes up 12% of your take-home. That's considered very comfortable.
Is $150K a good salary in Waco?
At $150K/year in Waco, your estimated monthly take-home is $8,944. With 1BR rent around $1,000/month, rent takes up 11% of your take-home. That's considered very comfortable.
Which city is more affordable on a $150K salary?
Waco leaves you with more money after core expenses — $7,324/month vs $7,207/month in Memphis.
Can I afford to live alone in Memphis on $150K?
Yes. At $150K in Memphis, rent takes 12% of your take-home, leaving $7,207/month after essentials. Most financial planners recommend keeping rent below 30%.
See the full cost-of-living comparison
Rent, groceries, taxes, transportation, and more — side by side.
Take-home estimates use simplified federal/state brackets and do not account for pre-tax deductions, 401(k), or local taxes. Data: Zillow, BLS, Numbeo · Q1 2026 · For general guidance only