City comparison
Palm Bay, FL vs Waco, TX
What a paycheck is really worth in each city: prices, rent and state taxes.
Key findings
- Prices in Palm Bay, FL are 8.1% higher than in Waco, TX. Someone earning $100,000 in Waco, TX would need about $108,100 in Palm Bay, FL to live the same way.
- Rent is the bigger story: a typical 1-bedroom costs $1,478 a month in Palm Bay, FL versus $996 in Waco, TX. On $100,000, that's 22% of take-home pay in Palm Bay, FL and 15% in Waco, TX.
- Estimated state income tax on $100,000 is close: $0 a year in FL and $0 in TX.
- For federal employees, locality pay changes a GS-13 step 1 salary by −0.7% moving from Palm Bay, FL to Waco, TX ($107,228 → $106,437), while prices change by −7.5%. Net effect of the transfer: +7.3% in real buying power.
- Palm Bay, FL: price level 100.0 (about average)
- 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
| Palm Bay, FL | Waco, TX | |
|---|---|---|
| Price level (U.S. = 100)2 | 100.0 | 92.5 |
| $100,000 is worth, in the other city2 | $92,545 in Waco | $108,055 in Palm Bay |
| Typical 1-bedroom rent3 | $1,478/mo | $996/mo |
| Take-home on $100,00014,15,8 | $79,180 | $79,180 |
| State income tax on $100,000 (estimate)8 | $0 (FL) | $0 (TX) |
| Rent burden on $100,000 | 22% | 15% |
| Median pay, all jobs4 | $49,030 | $46,020 |
| Federal locality pay area7 | Palm Bay-Melbourne-Titusville, FL | Rest of U.S. |
Rent areas: Palm Bay-Melbourne-Titusville, FL MSA and Waco, TX HUD Metro FMR Area. Metro areas: Palm Bay-Melbourne-Titusville, FL and Waco, TX.
What costs more or less
| Price level (U.S. = 100) | Palm Bay | Waco |
|---|---|---|
| Housing (rent) | 111.7 | 83.5 |
| Goods | 96.2 | 93.8 |
| Utilities | 88.1 | 81.0 |
| Other services | 98.9 | 96.2 |
| Overall | 100.0 | 92.5 |
Moving with the same $100,000 salary
Palm Bay, FL → Waco, TX
Same pay goes further
Buying power +8.1%; rent takes 15% of take-home; state tax +$0/yr.
94 Strong offer
Waco, TX → Palm Bay, FL
Same pay buys less
Buying power −7.5%; rent takes 22% of take-home; state tax +$0/yr.
45 Fair offer
On the GS pay scale?
Palm Bay, FL is in the Palm Bay-Melbourne-Titusville, FL pay area; Waco, TX is in Rest of U.S.. The last column shows what a transfer from Palm Bay, FL to Waco, TX at the same grade and step does to real buying power.
| Grade5,2 | Palm Bay, FL | Waco, TX | Real change, Palm Bay → Waco |
|---|---|---|---|
| GS-9 step 1 | $62,181 | $61,722 | +7.3% |
| GS-11 step 1 | $75,233 | $74,678 | +7.3% |
| GS-12 step 1 | $90,173 | $89,508 | +7.3% |
| GS-13 step 1 | $107,228 | $106,437 | +7.3% |
| GS-14 step 1 | $126,711 | $125,776 | +7.3% |
Pay for common jobs
| Median annual pay4 | Palm Bay, FL | Waco, TX | Waco pay in Palm Bay dollars |
|---|---|---|---|
| Elementary School Teachers, Except Special Education | $62,510 | $59,100 | $63,861 (+2.2%) |
| Software Developers | $131,760 | $123,080 | $132,994 (+0.9%) |
| Accountants and Auditors | $75,860 | $76,140 | $82,273 (+8.5%) |
| Registered Nurses | $80,900 | $92,890 | $100,372 (+24.1%) |
"Not published" means BLS doesn't release an estimate for that job in that metro.