Chicago vs Waco
Cost of Living Comparison · 2026 Data
Chicago
Waco
💡 The Verdict
Waco is 15% cheaper than Chicago overall. A $75,000 salary in Chicago is equivalent to $63,785 in Waco.
Category-by-Category Breakdown
Index values for Chicago (left) vs Waco (right). National average = 100.
Detailed Price Comparison
Estimated item-level prices in Chicago versus Waco. Differences shown from Chicago perspective.
| Item | Chicago | Waco | Difference |
|---|---|---|---|
| 1-Bed Rent | $1,230/mo | $990/mo | +$240.00 |
| 2-Bed Rent | $1,700/mo | $1,270/mo | +$430.00 |
| 3-Bed Rent | $2,220/mo | $1,580/mo | +$640.00 |
| Bread (loaf) | $2.71 | $2.32 | +$0.39 |
| Milk (gallon) | $4.17 | $3.14 | +$1.03 |
| Eggs (dozen) | $3.55 | $2.69 | +$0.86 |
| Coffee (latte) | $6.11 | $4.65 | +$1.46 |
| Gas (gallon) | $3.57 | $2.98 | +$0.59 |
| Restaurant Meal | $15.53 | $14.92 | +$0.61 |
💰 Salary Equivalence
A $75,000 salary in Chicago has the same purchasing power as $63,785 in Waco.
Conversely, $75,000 in Waco equals $88,187 in Chicago.
💼 Take-Home Pay Comparison
Estimated annual take-home pay on a $75,000 salary after federal, FICA, and state income taxes.
The $3676 difference is driven by Illinois having a higher state income tax rate. Illinois details → · Texas details →
Reading These Numbers: Chicago (107) vs Waco (91)
Chicago at 107 is 7% above the US average, while Waco at 91 is 9% below average. There is a meaningful cost gap between these two cities that affects day-to-day budgeting.
In Chicago, the composite index of 107 reflects a weighted calculation where housing carries the most influence at 112, followed by groceries (104), utilities (100), transportation (116), and healthcare (101). Costs are fairly balanced across categories.
For renters: With median rents of $1,700/mo in Chicago and $1,270/mo in Waco, the annual rent difference is approximately $5,160.0. Over a 5-year period, that compounds to $25,800.0 in savings by choosing the more affordable city.
For homebuyers: The $26,000.0 difference in median home prices between Chicago and Waco translates to meaningful differences in mortgage payments at current rates. Factor this into your budget alongside property taxes and insurance, which also vary by location.
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Making Your Decision: Chicago vs Waco
Choosing between Chicago and Waco involves more than just comparing index numbers. Consider how each category aligns with your personal spending patterns. If you work from home, transportation costs matter less than housing and utilities. If you eat out frequently, the groceries index may understate your actual food spending — look at the restaurant meal prices in the detailed comparison table above instead.
When weighing Chicago against Waco, think beyond the composite index. Your personal savings rate, retirement timeline, and family size all influence which cost categories dominate your budget. Someone spending sixty percent of income on housing and childcare will experience these two cities very differently than a single renter whose largest variable expense is dining out. Model your own spending breakdown against the category indices above for the most realistic comparison.