Waco vs Memphis for Singles (2026)
Scroll down for rent burden, savings estimate, and FAQ.
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.
Complete the Picture
While you’re comparing — don’t leave money on the table.
Cash-back card
Best everyday cards for Waco
Maximize cash back on groceries, dining, and transit — categories that grow after a move.
High-yield savings
Grow your move fund while rates are high
Even $108/mo extra earns meaningfully at 4–5% APY vs near-zero in checking.
Home + auto bundle
New state — compare rates before you sign
Moving to Waco resets your insurance profile. Bundling home + auto often saves 15–25%.
Single-person cost breakdown
| Metric | Waco Texas | Memphis Tennessee | Your impact |
|---|---|---|---|
| Studio rent / month | $800Better | $900 | $1,200/yr saves in Waco |
| 1BR rent / month | $1,000Better | $1,100 | $1,200/yr saves in Waco |
| Est. single-person income | $29KBetter | $25K | — |
| Est. monthly take-home | $2,400Better | $2,100 | — |
| Studio rent burden | 33%Better | 43% | — |
| Groceries index (US = 100) | 92Better | 94 | — |
| State income tax | NoneBetter | None | — |
| Walk score | 22 / 100 | 31 / 100Better | — |
| Overall COL index (100 = US avg) | 83Better | 83 | — |
Your biggest money opportunities based on this comparison.
Renters insurance
Waco saves ~$100/mo on rent
Solo renters often skip insurance — but your electronics, furniture, and belongings add up fast.
Monthly savings
Waco: ~$1,068/mo left after rent & living
Start investing that surplus early — even small amounts compound significantly over a career.
Complete the Picture
While you’re comparing — don’t leave money on the table.
Mortgages
See what you can afford in Memphis
Compare rates from top lenders before your move — pre-approval is free and won't affect your score.
Home & Auto Insurance
Bundle before you move — save 15–25%
New state means new rates. Lock in Memphis homeowners + auto quotes before your move date.
Moving Rewards Card
Turn closing costs & moving expenses into cash back
Average family spends $6,200 on a move. These cards pay 2–4% back + 0% intro APR on purchases.
Frequently asked questions
Which city is more affordable for a single person — Waco or Memphis?
For a single person, Waco comes out ahead on overall affordability. Studio rents are $800 in Waco vs $900 in Memphis. A single earner in Waco spends about 33% of take-home on studio rent.
What is the rent burden for a single person in Waco vs Memphis?
Rent burden is the percentage of take-home pay spent on housing. Financial planners recommend keeping housing under 30% of gross income. In Waco, a single earner spending $800/month on a studio carries a 33% rent burden — slightly above the recommended 30%. In Memphis, the rent burden is 43% — significantly above the recommended 30%.
How much can a single person save each month in Waco vs Memphis?
After rent and basic living expenses (groceries, utilities, transport), a single earner can save approximately $1,068/month in Waco vs $668/month in Memphis. These estimates are based on a single-person income of ~60% of median household income and studio rent costs.
Is it worth living alone in Waco vs getting a roommate in Memphis?
Splitting a 1BR in Memphis ($1,100/person) vs a solo studio in Waco ($800): splitting a 1BR in Memphis ($550/person) is cheaper than a solo studio in Waco ($800). Factor in the privacy premium and your living preferences when deciding.
Which city is better for a single person's social life?
Walkability is a proxy for urban density and access to dining, entertainment, and social spaces without a car. Memphis scores higher (31/100) — car-dependent, which may limit spontaneous social activity. For singles, a walkable neighborhood can significantly reduce the cost and friction of having an active social life.
Single-person income estimated at 60% of median household income. Take-home calculated using state income tax rate only. Savings estimate subtracts rent and estimated basic living costs. Data: Zillow, BLS, Numbeo, Tax Foundation · Q1 2026