Cost of Living in Waco, NC

With a cost of living index of 74, Waco, NC is one of the most affordable cities in the country. Living here is 26% cheaper than the national average and 10% below the North Carolina state average of 84. Waco is a small community of 216 residents.

Housing costs are the biggest factor in Waco's cost of living. The median monthly rent is $1,077 (18% below the US median of $1,319), and the median home value sits at $93,100 (69% below the national median of $304,900). At current prices, the median home costs roughly 3x the median household income — well within traditional affordability guidelines.

The median household income in Waco is $31,250, which is 58% lower than the national median of $75,149. Residents spend roughly 41% of household income on rent. This is well above the 30% affordability threshold, indicating a significant housing cost burden for many residents. Lower incomes here are balanced by the significantly lower cost of living, stretching each dollar further.

Everyday prices in the Charlotte-Concord-Gastonia, NC-SC (Metropolitan Statistical Area) metro area are generally below the national average. Out of 6 common items tracked by the Bureau of Labor Statistics, 6 are priced lower than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.