City comparison
Anchorage, AK vs Waco, TX
What a paycheck is really worth in each city: prices, rent and state taxes.
Key findings
- Prices in Anchorage, AK are 13.9% higher than in Waco, TX. Someone earning $100,000 in Waco, TX would need about $113,900 in Anchorage, AK to live the same way.
- Rent is the bigger story: a typical 1-bedroom costs $1,243 a month in Anchorage, AK versus $996 in Waco, TX. On $100,000, that's 19% of take-home pay in Anchorage, AK and 15% in Waco, TX.
- Estimated state income tax on $100,000 is close: $0 a year in AK and $0 in TX.
- For federal employees, locality pay changes a GS-13 step 1 salary by −11.6% moving from Anchorage, AK to Waco, TX ($120,348 → $106,437), while prices change by −12.2%. Net effect of the transfer: +0.7% in real buying power.
- Anchorage, AK: price level 105.4 (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
| Anchorage, AK | Waco, TX | |
|---|---|---|
| Price level (U.S. = 100)2 | 105.4 | 92.5 |
| $100,000 is worth, in the other city2 | $87,792 in Waco | $113,906 in Anchorage |
| Typical 1-bedroom rent3 | $1,243/mo | $996/mo |
| Take-home on $100,00014,15,8 | $79,180 | $79,180 |
| State income tax on $100,000 (estimate)8 | $0 (AK) | $0 (TX) |
| Rent burden on $100,000 | 19% | 15% |
| Median pay, all jobs4 | $60,200 | $46,020 |
| Federal locality pay area7 | State of Alaska | Rest of U.S. |
Rent areas: Anchorage, AK HUD Metro FMR Area and Waco, TX HUD Metro FMR Area. Metro areas: Anchorage, AK and Waco, TX.
What costs more or less
| Price level (U.S. = 100) | Anchorage | Waco |
|---|---|---|
| Housing (rent) | 109.9 | 83.5 |
| Goods | 107.3 | 93.8 |
| Utilities | 111.8 | 81.0 |
| Other services | 103.3 | 96.2 |
| Overall | 105.4 | 92.5 |
Moving with the same $100,000 salary
Anchorage, AK → Waco, TX
Same pay goes further
Buying power +13.9%; rent takes 15% of take-home; state tax +$0/yr.
100 Strong offer
Waco, TX → Anchorage, AK
Same pay buys less
Buying power −12.2%; rent takes 19% of take-home; state tax +$0/yr.
38 Weak offer
On the GS pay scale?
Anchorage, AK is in the State of Alaska pay area; Waco, TX is in Rest of U.S.. The last column shows what a transfer from Anchorage, AK to Waco, TX at the same grade and step does to real buying power.
| Grade5,2 | Anchorage, AK | Waco, TX | Real change, Anchorage → Waco |
|---|---|---|---|
| GS-9 step 1 | $69,789 | $61,722 | +0.7% |
| GS-11 step 1 | $84,439 | $74,678 | +0.7% |
| GS-12 step 1 | $101,206 | $89,508 | +0.7% |
| GS-13 step 1 | $120,348 | $106,437 | +0.7% |
| GS-14 step 1 | $142,216 | $125,776 | +0.7% |
Pay for common jobs
| Median annual pay4 | Anchorage, AK | Waco, TX | Waco pay in Anchorage dollars |
|---|---|---|---|
| Elementary School Teachers, Except Special Education | $79,270 | $59,100 | $67,318 (−15.1%) |
| Software Developers | $104,030 | $123,080 | $140,196 (+34.8%) |
| Accountants and Auditors | $82,150 | $76,140 | $86,728 (+5.6%) |
| Registered Nurses | $115,290 | $92,890 | $105,807 (−8.2%) |
"Not published" means BLS doesn't release an estimate for that job in that metro.