Madison vs Waco
Cost of Living Comparison · 2026
Madison
Waco
The Verdict
The cost gap between these cities is 27.7%, with Waco being the more affordable option. A $75,000 income in Madison has equivalent purchasing power to $58,726 in Waco.
Category-by-Category Breakdown
Index values · National average = 100 · Lower is more affordable
Salary Equivalence
A $75,000 salary in Madison has the same purchasing power as $58,726 in Waco.
Conversely, $75,000 in Waco equals $95,783 in Madison.
Living in Madison vs Waco
Housing Costs
Madison's housing index of 115 is higher Waco's 63, translating to median home prices of $340,000 vs $230,000. The $110,000 difference in home prices means roughly $7,152 per year in additional mortgage costs at current rates. Renters face a similar gap: $1,400/mo in Madison compared to $1,050/mo in Waco, a monthly difference of $350.
Grocery & Food Costs
Grocery expenses index at 101 in Madison and 95 in Waco. A household spending the national average of $475/month on groceries would pay approximately $480/month in Madison vs $451/month in Waco. Waco offers a meaningful advantage on everyday food costs, saving roughly $348/year.
Utility Expenses
Utility costs — electricity, gas, water, internet — index at 97 in Madison and 97 in Waco. Monthly utility bills average approximately $388 in Madison vs $388 in Waco. Utility costs are relatively comparable between these two cities.
Healthcare
Healthcare costs index at 105 in Madison and 93 in Waco. This encompasses insurance premiums, doctor visit copays, dental care, and prescription costs. The 12-point gap reflects real differences in provider costs, insurance market competition, and regional healthcare infrastructure.
Income & Purchasing Power
Median household income is $67,565 in Madison and $49,500 in Waco. After adjusting for local costs, purchasing-power-equivalent incomes are approximately $63,741 and $59,639 respectively. Madison residents enjoy stronger real purchasing power despite higher nominal wages.
Relocation Considerations
Under the standard 28% rule, a median-income household can allocate $1,577/month to housing in Madison vs $1,155/month in Waco. In Madison, median rent of $1,400/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 52 index points — focus your budget analysis there.
Frequently Asked Questions
Moving & Relocation Resources
As an Amazon Associate we earn from qualifying purchases