Overall
Diff +0.4 RPP
Memphis vs Waco
Cost of living comparison based on BEA Regional Price Parities. Waco is 0.4% more expensive than Memphis.
0.4% more expensive
Waco, TX is 0.4% more expensive than Memphis, TN-MS-AR on BEA Regional Price Parities (overall RPP 92.5 vs 92.2). A $100,000 salary in Memphis buys about the same as $100,402 in Waco; the largest component gap is services.
- Overall RPP 92.2 (Memphis) vs 92.5 (Waco)
- $100k in Memphis ≈ $100,402 purchasing power in Waco
- Services drives the gap (+6.9 RPP points)
RPP parity plate
Pair TN:TX 92.2→92.5
PHOTO-FINISH · CROSS-STATE · SPLIT-BUDGET · BOTH-BELOW · PP-PAR
- PHOTO-FINISH Photo finish
- CROSS-STATE TN × TX
- SPLIT-BUDGET Split budget
- BOTH-BELOW Both below 100
- PP-PAR PP near-par
Instrument codes from this pair's BEA Regional Price Parities (overall · goods · services · rents · national benchmark 100 · purchasing-power conversion), not a ranking or recommendation.
Memphis
92.2
Cost Index
Waco
92.5
Cost Index
What This Comparison Actually Tells You
Memphis, TN-MS-AR and Waco, TX are a photo finish on overall price level, only 0.4 RPP points apart. A salary conversion is therefore a fine adjustment, not evidence of a fundamentally different cost regime.
Services creates the largest separation: Waco is 6.9 points higher. But goods move against the overall direction, so this is a split budget rather than a clean across-the-board winner.
Comparable population context is incomplete for this pair, so no market-scale explanation is inferred from the price indexes.
Both metros remain below the U.S. benchmark of 100. This comparison chooses between two below-average price levels; “more expensive” here does not mean nationally expensive.
For a service-heavy household, test childcare, health, and other locally supplied costs before relying on rent alone. The BEA ratio converts $100,000 in Memphis to $100,402 in Waco, but it is not a personal spending weight.
Category Breakdown
Goods
Diff -2.5 RPP
Services
Diff +6.9 RPP
Rents
Diff +3.7 RPP
| Category | Memphis | Waco | Difference |
|---|---|---|---|
| Overall | 92.2 | 92.5 | +0.4 |
| Goods | 96.2 | 93.8 | -2.5 |
| Services | 74.1 | 81.0 | +6.9 |
| Rents | 79.8 | 83.5 | +3.7 |
Visual Comparison
Overall
Memphis 92.2
Waco 92.5
Goods
Memphis 96.2
Waco 93.8
Services
Memphis 74.1
Waco 81.0
Rents
Memphis 79.8
Waco 83.5
Vertical line = national average (100)
Salary Equivalents
What a salary in Memphis would need to be in Waco for the same purchasing power:
| In Memphis | In Waco | Difference |
|---|---|---|
| $50,000 | $50,201 | +$201 |
| $75,000 | $75,302 | +$302 |
| $100,000 | $100,402 | +$402 |
| $150,000 | $150,604 | +$604 |
$ in Memphis = in Waco
Same BEA Regional Price Parity ratio as the table above (92.2 → 92.5), computed live from your number, nothing is sent anywhere.
Frequently Asked Questions
Is Waco more expensive than Memphis?
Waco is 0.4% more expensive than Memphis. The overall cost index is 92.5 vs 92.2 (national average = 100).
What salary in Waco equals $100K in Memphis?
A $100,000 salary in Memphis has the same purchasing power as $100,402 in Waco. This is based on the BEA Regional Price Parity indexes.
How do rents compare between Memphis and Waco?
Rents in Memphis are indexed at 79.8 while Waco is at 83.5 (national average = 100). Waco has higher rents.
Data sources
- BEA Regional Price Parities (RPP), the cost-of-living indices shown on this page
- U.S. Census Bureau, American Community Survey (ACS), gross-rent observations behind the rents component
- BLS Consumer Price Index (CPI), goods and services price relatives
- BLS Occupational Employment and Wage Statistics (OEWS), labor-driven services component
- HUD Fair Market Rents (FMR), 40th-percentile rent cross-reference
Every figure on PlainCost is rendered directly from BEA Regional Price Parity source data, no number is typed in by an editor. See our editorial standards & corrections policy, the methodology behind these numbers, our changelog, or report a data error. Data current as of 2026-08-11. Rankings measure the published cost-of-living index only; we don't recommend where to live or rate any metro's quality of life.