Waco, KS is a small town located near the larger cities of Topeka and Wichita. The cost of living in Waco is significantly lower than most places in the US; for example, the average two-bedroom rent in Waco is $1,130 versus $1,430 in America as a whole. Additionally, the grocery cost index in Waco is 95 compared to 100 in the US. This makes Waco an affordable option for those who want to live close to larger cities but still enjoy a low cost of living.
Waco also has many local businesses such as Nickell’s Feed & Grain Store, a family-owned business that provides feed and hay for livestock nationwide; Baxter’s Auto Repair, providing automotive repair services since 1985; and Main Street Pharmacy & Gifts, offering gifts and pharmaceuticals since 1977. All of these establishments help make Waco a thriving community with many diverse economic opportunities.
Waco has an unemployment rate of 5.6%. The US average is 6.0%.
Waco has seen the job market decrease by -4.0% over the last year. Future job growth over the next ten years is predicted to be 24.6%, which is lower than the US average of 33.5%.
Tax Rates for Waco
- The Sales Tax Rate for Waco is 7.5%. The US average is 7.3%.
- The Income Tax Rate for Waco is 5.7%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Waco
- The average income of a Waco resident is $38,925 a year. The US average is $37,638 a year.
- The Median household income of a Waco resident is $59,886 a year. The US average is $69,021 a year.