Waco, Texas is an excellent location for those looking to have access to all the amenities of a large city without incurring the high costs of living associated with other urban areas. The cost of a two-bedroom apartment in Waco is $1,140, which is much lower than the US average of $1,430. The grocery cost index in Waco is also quite affordable at 102 compared to the national average of 100. Local employers include Baylor University, McLane Children's Hospital and Providence Healthcare Network, providing opportunities for employment for locals and those who move there. A wide variety of restaurants and leisure activities are also available in this vibrant city including Cameron Park Zoo and Magnolia Market at the Silos. In summary, Waco has something to offer everyone with its low cost of living combined with great job opportunities and plenty of leisure activities making it an ideal place to live or visit.
Waco (zip 76701) has an unemployment rate of 6.6%. The US average is 6.0%.
Waco (zip 76701) has seen the job market increase by 1.1% over the last year. Future job growth over the next ten years is predicted to be 38.3%, which is higher than the US average of 33.5%.
Tax Rates for Waco (zip 76701)
- The Sales Tax Rate for Waco (zip 76701) is 8.3%. The US average is 7.3%.
- The Income Tax Rate for Waco (zip 76701) is 0.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Waco (zip 76701)
- The average income of a Waco (zip 76701) resident is $14,639 a year. The US average is $28,555 a year.
- The Median household income of a Waco (zip 76701) resident is $36,625 a year. The US average is $69,021 a year.