City comparison
New York, NY vs Waco, TX
What a paycheck is really worth in each city: prices, rent and state taxes.
Key findings
- Prices in New York, NY are 21.6% higher than in Waco, TX. Someone earning $100,000 in Waco, TX would need about $121,600 in New York, NY to live the same way.
- Rent is the bigger story: a typical 1-bedroom costs $2,655 a month in New York, NY versus $996 in Waco, TX. On $100,000, that's 43% of take-home pay in New York, NY and 15% in Waco, TX.
- On $100,000, estimated state income tax is about $4,860 a year higher in New York, NY than in Waco, TX.
- For federal employees, locality pay changes a GS-13 step 1 salary by −15.1% moving from New York, NY to Waco, TX ($125,431 → $106,437), while prices change by −17.8%. Net effect of the transfer: +3.2% in real buying power.
- New York, NY: price level 112.6 (much pricier)
- 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
| New York, NY | Waco, TX | |
|---|---|---|
| Price level (U.S. = 100)2 | 112.6 | 92.5 |
| $100,000 is worth, in the other city2 | $82,221 in Waco | $121,624 in New York |
| Typical 1-bedroom rent3 | $2,655/mo | $996/mo |
| Take-home on $100,00014,15,8 | $74,320 | $79,180 |
| State income tax on $100,000 (estimate)8 | $4,860 (NY) | $0 (TX) |
| Rent burden on $100,000 | 43% | 15% |
| Median pay, all jobs4 | $61,430 | $46,020 |
| Federal locality pay area7 | New York-Newark, NY-NJ-CT-PA | Rest of U.S. |
Rent areas: New York, NY HUD Metro FMR Area and Waco, TX HUD Metro FMR Area. Metro areas: New York-Newark-Jersey City, NY-NJ and Waco, TX.
What costs more or less
| Price level (U.S. = 100) | New York | Waco |
|---|---|---|
| Housing (rent) | 148.6 | 83.5 |
| Goods | 110.3 | 93.8 |
| Utilities | 127.0 | 81.0 |
| Other services | 105.8 | 96.2 |
| Overall | 112.6 | 92.5 |
Moving with the same $100,000 salary
New York, NY → Waco, TX
Same pay goes further
Buying power +21.6%; rent takes 15% of take-home; state tax −$4,860/yr.
100 Strong offer
Waco, TX → New York, NY
Same pay buys less
Buying power −17.8%; rent takes 43% of take-home; state tax +$4,860/yr.
11 Weak offer
On the GS pay scale?
New York, NY is in the New York-Newark, NY-NJ-CT-PA pay area; Waco, TX is in Rest of U.S.. The last column shows what a transfer from New York, NY to Waco, TX at the same grade and step does to real buying power.
| Grade5,2 | New York, NY | Waco, TX | Real change, New York → Waco |
|---|---|---|---|
| GS-9 step 1 | $72,737 | $61,722 | +3.2% |
| GS-11 step 1 | $88,005 | $74,678 | +3.2% |
| GS-12 step 1 | $105,481 | $89,508 | +3.2% |
| GS-13 step 1 | $125,431 | $106,437 | +3.2% |
| GS-14 step 1 | $148,222 | $125,776 | +3.2% |
Pay for common jobs
| Median annual pay4 | New York, NY | Waco, TX | Waco pay in New York dollars |
|---|---|---|---|
| Elementary School Teachers, Except Special Education | $96,900 | $59,100 | $71,880 (−25.8%) |
| Software Developers | $166,830 | $123,080 | $149,695 (−10.3%) |
| Accountants and Auditors | $105,650 | $76,140 | $92,605 (−12.3%) |
| Registered Nurses | $119,720 | $92,890 | $112,977 (−5.6%) |
"Not published" means BLS doesn't release an estimate for that job in that metro.