Irving vs Waco
Cost of Living Comparison · 2026
Irving
Waco
The Verdict
Waco is 20.5% less expensive than Irving overall. A household earning $75,000 in Irving would need approximately $62,250 in Waco to maintain the same standard of living.
Category-by-Category Breakdown
Index values · National average = 100 · Lower is more affordable
Salary Equivalence
A $75,000 salary in Irving has the same purchasing power as $62,250 in Waco.
Conversely, $75,000 in Waco equals $90,361 in Irving.
Living in Irving vs Waco
Housing Costs
Irving's housing index of 94 is higher Waco's 63, translating to median home prices of $318,000 vs $230,000. The $88,000 difference in home prices means roughly $5,724 per year in additional mortgage costs at current rates. Renters face a similar gap: $1,350/mo in Irving compared to $1,050/mo in Waco, a monthly difference of $300.
Grocery & Food Costs
Grocery expenses index at 99 in Irving and 95 in Waco. A household spending the national average of $475/month on groceries would pay approximately $470/month in Irving vs $451/month in Waco. The difference in grocery costs between these cities is relatively minor and unlikely to be a deciding factor in relocation.
Utility Expenses
Utility costs — electricity, gas, water, internet — index at 111 in Irving and 97 in Waco. Monthly utility bills average approximately $444 in Irving vs $388 in Waco. Climate differences between the two cities drive much of this gap, with heating and cooling costs varying substantially by region.
Healthcare
Healthcare costs index at 103 in Irving and 93 in Waco. This encompasses insurance premiums, doctor visit copays, dental care, and prescription costs. The 10-point gap reflects real differences in provider costs, insurance market competition, and regional healthcare infrastructure.
Income & Purchasing Power
Median household income is $73,400 in Irving and $49,500 in Waco. After adjusting for local costs, purchasing-power-equivalent incomes are approximately $73,400 and $59,639 respectively. Irving residents enjoy stronger real purchasing power despite higher nominal wages.
Relocation Considerations
Under the standard 28% rule, a median-income household can allocate $1,713/month to housing in Irving vs $1,155/month in Waco. In Irving, median rent of $1,350/mo fits within this budget. In Waco, median rent of $1,050/mo remains manageable. The biggest category-level difference between these two cities is Housing, where the gap is 31 index points — focus your budget analysis there.
Frequently Asked Questions
Moving & Relocation Resources
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