Can I Afford to Live in Waco vs Carmel 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 | Waco TX | Carmel IN |
|---|---|---|
| Monthly take-home (est.) | $8,944 | $8,544 |
| 1BR rent | $1,000 | $1,450 |
| Groceries (est.) | $350 | $376 |
| Transport (est.) | $38 | $40 |
| Utilities | $172 | $152 |
| Internet | $60 | $62 |
| Left after essentials | $7,324/month | $6,464/month |
Frequently asked questions
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.
Is $150K a good salary in Carmel?
At $150K/year in Carmel, your estimated monthly take-home is $8,544. With 1BR rent around $1,450/month, rent takes up 17% 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 $6,464/month in Carmel.
Can I afford to live alone in Waco on $150K?
Yes. At $150K in Waco, rent takes 11% of your take-home, leaving $7,324/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