City comparison
Indianapolis, IN vs Waco, TX
What a paycheck is really worth in each city: prices, rent and state taxes.
Key findings
- Prices in Indianapolis, IN are 3.4% higher than in Waco, TX. Someone earning $100,000 in Waco, TX would need about $103,400 in Indianapolis, IN to live the same way.
- Rent is the bigger story: a typical 1-bedroom costs $1,267 a month in Indianapolis, IN versus $996 in Waco, TX. On $100,000, that's 20% of take-home pay in Indianapolis, IN and 15% in Waco, TX.
- On $100,000, estimated state income tax is about $2,921 a year higher in Indianapolis, IN than in Waco, TX.
- For federal employees, locality pay changes a GS-13 step 1 salary by −0.9% moving from Indianapolis, IN to Waco, TX ($107,428 → $106,437), while prices change by −3.3%. Net effect of the transfer: +2.4% in real buying power.
- Indianapolis, IN: price level 95.7 (cheaper)
- Waco, TX: price level 92.5 (cheaper)
Map drawn from Census Bureau state boundaries and metro locations9,10; dot colours show BEA price levels2.
Side by side
| Indianapolis, IN | Waco, TX | |
|---|---|---|
| Price level (U.S. = 100)2 | 95.7 | 92.5 |
| $100,000 is worth, in the other city2 | $96,713 in Waco | $103,399 in Indianapolis |
| Typical 1-bedroom rent3 | $1,267/mo | $996/mo |
| Take-home on $100,00014,15,8 | $76,260 | $79,180 |
| State income tax on $100,000 (estimate)8 | $2,921 (IN) | $0 (TX) |
| Rent burden on $100,000 | 20% | 15% |
| Median pay, all jobs4 | $49,340 | $46,020 |
| Federal locality pay area7 | Indianapolis-Carmel-Muncie, IN | Rest of U.S. |
Rent areas: Indianapolis-Carmel, IN HUD Metro FMR Area and Waco, TX HUD Metro FMR Area. Metro areas: Indianapolis-Carmel-Greenwood, IN and Waco, TX.
What costs more or less
| Price level (U.S. = 100) | Indianapolis | Waco |
|---|---|---|
| Housing (rent) | 88.9 | 83.5 |
| Goods | 94.3 | 93.8 |
| Utilities | 86.4 | 81.0 |
| Other services | 99.1 | 96.2 |
| Overall | 95.7 | 92.5 |
Moving with the same $100,000 salary
Indianapolis, IN → Waco, TX
Same pay goes further
Buying power +3.4%; rent takes 15% of take-home; state tax −$2,921/yr.
79 Strong offer
Waco, TX → Indianapolis, IN
Same pay buys less
Buying power −3.3%; rent takes 20% of take-home; state tax +$2,921/yr.
58 Fair offer
On the GS pay scale?
Indianapolis, IN is in the Indianapolis-Carmel-Muncie, IN pay area; Waco, TX is in Rest of U.S.. The last column shows what a transfer from Indianapolis, IN to Waco, TX at the same grade and step does to real buying power.
| Grade5,2 | Indianapolis, IN | Waco, TX | Real change, Indianapolis → Waco |
|---|---|---|---|
| GS-9 step 1 | $62,297 | $61,722 | +2.4% |
| GS-11 step 1 | $75,374 | $74,678 | +2.4% |
| GS-12 step 1 | $90,341 | $89,508 | +2.4% |
| GS-13 step 1 | $107,428 | $106,437 | +2.4% |
| GS-14 step 1 | $126,947 | $125,776 | +2.4% |
Pay for common jobs
| Median annual pay4 | Indianapolis, IN | Waco, TX | Waco pay in Indianapolis dollars |
|---|---|---|---|
| Elementary School Teachers, Except Special Education | $60,510 | $59,100 | $61,109 (+1.0%) |
| Software Developers | $106,870 | $123,080 | $127,264 (+19.1%) |
| Accountants and Auditors | $79,290 | $76,140 | $78,728 (−0.7%) |
| Registered Nurses | $84,230 | $92,890 | $96,048 (+14.0%) |
"Not published" means BLS doesn't release an estimate for that job in that metro.