Lubbock, TX vs Waco, TX

Lubbock, TX and Waco, TX have a very similar cost of living, with only a 1.2% difference in their overall index. Lubbock scores 83 while Waco scores 82 on the cost of living index, where 100 represents the national average. The day-to-day expenses for residents in both cities are comparable, though differences emerge when looking at specific categories.

On the housing front, median rent in Lubbock is $1,137/month compared to $1,098/month in Waco — a 4% difference. Interestingly, home values tell a different story: while Waco has cheaper rent, Lubbock actually has lower median home values ($197,900 vs $199,600).

Median household income in Lubbock is $60,487 compared to $51,468 in Waco (+17.5%). While Lubbock is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Lubbock spend roughly 22.6% of their income on rent, less than the 25.6% in Waco.