City comparison
Minneapolis, MN vs Waco, TX
What a paycheck is really worth in each city: prices, rent and state taxes.
Key findings
- Prices in Minneapolis, MN are 13.3% higher than in Waco, TX. Someone earning $100,000 in Waco, TX would need about $113,300 in Minneapolis, MN to live the same way.
- Rent is the bigger story: a typical 1-bedroom costs $1,405 a month in Minneapolis, MN versus $996 in Waco, TX. On $100,000, that's 23% of take-home pay in Minneapolis, MN and 15% in Waco, TX.
- On $100,000, estimated state income tax is about $5,277 a year higher in Minneapolis, MN than in Waco, TX.
- For federal employees, locality pay changes a GS-13 step 1 salary by −8.3% moving from Minneapolis, MN to Waco, TX ($116,038 → $106,437), while prices change by −11.7%. Net effect of the transfer: +3.9% in real buying power.
- Minneapolis, MN: price level 104.8 (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
| Minneapolis, MN | Waco, TX | |
|---|---|---|
| Price level (U.S. = 100)2 | 104.8 | 92.5 |
| $100,000 is worth, in the other city2 | $88,293 in Waco | $113,260 in Minneapolis |
| Typical 1-bedroom rent3 | $1,405/mo | $996/mo |
| Take-home on $100,00014,15,8 | $73,903 | $79,180 |
| State income tax on $100,000 (estimate)8 | $5,277 (MN) | $0 (TX) |
| Rent burden on $100,000 | 23% | 15% |
| Median pay, all jobs4 | $59,320 | $46,020 |
| Federal locality pay area7 | Minneapolis-St. Paul, MN-WI | Rest of U.S. |
Rent areas: Minneapolis-St. Paul-Bloomington, MN-WI HUD Metro FMR Area and Waco, TX HUD Metro FMR Area. Metro areas: Minneapolis-St. Paul-Bloomington, MN-WI and Waco, TX.
What costs more or less
| Price level (U.S. = 100) | Minneapolis | Waco |
|---|---|---|
| Housing (rent) | 111.8 | 83.5 |
| Goods | 103.1 | 93.8 |
| Utilities | 93.5 | 81.0 |
| Other services | 104.4 | 96.2 |
| Overall | 104.8 | 92.5 |
Moving with the same $100,000 salary
Minneapolis, MN → Waco, TX
Same pay goes further
Buying power +13.3%; rent takes 15% of take-home; state tax −$5,277/yr.
100 Strong offer
Waco, TX → Minneapolis, MN
Same pay buys less
Buying power −11.7%; rent takes 23% of take-home; state tax +$5,277/yr.
38 Weak offer
On the GS pay scale?
Minneapolis, MN is in the Minneapolis-St. Paul, MN-WI pay area; Waco, TX is in Rest of U.S.. The last column shows what a transfer from Minneapolis, MN to Waco, TX at the same grade and step does to real buying power.
| Grade5,2 | Minneapolis, MN | Waco, TX | Real change, Minneapolis → Waco |
|---|---|---|---|
| GS-9 step 1 | $67,290 | $61,722 | +3.9% |
| GS-11 step 1 | $81,415 | $74,678 | +3.9% |
| GS-12 step 1 | $97,582 | $89,508 | +3.9% |
| GS-13 step 1 | $116,038 | $106,437 | +3.9% |
| GS-14 step 1 | $137,123 | $125,776 | +3.9% |
Pay for common jobs
| Median annual pay4 | Minneapolis, MN | Waco, TX | Waco pay in Minneapolis dollars |
|---|---|---|---|
| Elementary School Teachers, Except Special Education | $79,730 | $59,100 | $66,937 (−16.0%) |
| Software Developers | $130,920 | $123,080 | $139,400 (+6.5%) |
| Accountants and Auditors | $86,500 | $76,140 | $86,236 (−0.3%) |
| Registered Nurses | $103,040 | $92,890 | $105,207 (+2.1%) |
"Not published" means BLS doesn't release an estimate for that job in that metro.