Waco vs Memphis — side-by-side
Cost of living: Waco vs Memphis (2026)
A $60,000 salary in Waco buys roughly what $60,000 does in Memphis (COL-adjusted). Your real trade-offs are taxes, rent, and day-to-day prices — we break them down and personalize below.
Your move simulator
Tell us about your household — we calculate your real annual savings.
Estimated annual swing
+$1,296/yr
Favoring Waco for this income & household (illustrative).
With an extra $108/mo in Waco, you could max a Roth IRA contribution faster and still grow your savings buffer.
Studio rent/mo
1BR rent/mo
2BR rent/mo
Median home price
Groceries index (100 = US avg)
Budget meal (1 person)
Mid-range dinner (2)
Monthly transit pass/mo
Gas price/gal
Car insurance/mo
Monthly utilities bundle/mo
Internet/mo
Median household income/yr
State income tax%
Sales tax (combined)%
Movie ticket
Gym membership/mo
Beer at restaurant
Overall COL index (100 = US avg)
Walk score / 100
| Category | Waco Texas | Memphis Tennessee | Who wins | Your impact at $60K · 1br · 1 car |
|---|---|---|---|---|
| 🏠 HousingQ1 2026 | ||||
| Studio rent/mo | $800Better | $900 | Waco wins +$100/mo | $1,200/yr saves in Waco |
| 1BR rent/mo | $1,000Better | $1,100 | Waco wins +$100/mo | $1,200/yr saves in Waco |
| 2BR rent/mo | $1,300Better | $1,400 | Waco wins +$100/mo | $1,200/yr saves in Waco |
| Median home price | $210K | $200KBetter | Memphis wins −$10K | — |
| 🛒 Food & GroceriesQ1 2026 | ||||
| Groceries index (100 = US avg) | 92Better | 94 | Waco wins +2 | — |
| Budget meal (1 person) | $11Better | $12 | Waco wins +$1/mo | — |
| Mid-range dinner (2) | $46Better | $48 | Waco wins +$2/mo | — |
| 🚌 TransportationQ1 2026 | ||||
| Monthly transit pass/mo | $38Wins | $55 | Waco wins +$17/mo | — |
| Gas price/gal | $3.00Better | $3.00 | — | — |
| Car insurance/mo | $162Wins | $190 | Waco wins +$28/mo | $336/yr saves in Waco |
| ⚡ UtilitiesQ1 2026 | ||||
| Monthly utilities bundle/mo | $172 | $170Better | Memphis wins −$2/mo | — |
| Internet/mo | $60 | $55Better | Memphis wins −$5/mo | — |
| 💰 Income & TaxesQ1 2026 | ||||
| Median household income/yr | $48KWins | $42K | Waco wins −$6K more/yr | — |
| State income tax% | 0.0%Better | 0.0% | — | — |
| Sales tax (combined)% | 8.3%Wins | 9.8% | Waco wins +1.5 pp | — |
| 🎬 LeisureQ1 2026 | ||||
| Movie ticket | $12.00Better | $13.00 | Waco wins +$1.00 | — |
| Gym membership/mo | $30Better | $30 | — | — |
| Beer at restaurant | $4.50Better | $5.00 | Waco wins +$0.50 | — |
| 📊 OverviewQ1 2026 | ||||
| Overall COL index (100 = US avg) | 83Better | 83 | — | — |
| Walk score / 100 | 22 | 31Wins | Memphis wins +9 more/yr | — |
Complete the Picture
While you’re comparing — don’t leave money on the table.
Tax-smart rewards
Maximize everyday spend in your new city
Waco fits your move math — cash-back cards stack on groceries, gas, and dining you're already doing.
Home + auto bundle
New state — new insurance rates
Bundling often saves hundreds/yr. Compare before you sign a lease in Waco.
High-yield savings
Grow your move fund while you shop for homes
Don't let relocation cash sit at 0% — put it to work until closing day.
More ways to compare this move
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While you’re comparing — don’t leave money on the table.
If cash is tight
Knock down high-interest debt first
A move has upfront costs — a balance transfer or personal loan can lower APR while you settle in.
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Invest the surplus on autopilot
Brokerages and robo-advisors help you dollar-cost average into the market with your new slack.
Frequently asked questions
What is the average rent in Waco vs Memphis?
As of Q1 2026, the median 1-bedroom rent in Waco is $1,000/month and in Memphis is $1,100/month. Waco is cheaper by 9%.
How much do I need to earn in Memphis to match a $75,000 salary in Waco?
To maintain a similar lifestyle, you would need approximately $75,000/year in Memphis to match a $75,000 salary in Waco. This estimate is based on overall cost of living indices and does not account for individual spending patterns.
Which city has lower taxes — Waco or Memphis?
Memphis has the lower state income tax rate at 0% vs 0%. Memphis 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 Waco to Memphis?
It depends on your priorities. Both cities have similar overall costs. 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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Salary equivalent: Waco ↔ Memphis
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