City comparison
Richmond, VA vs Waco, TX
What a paycheck is really worth in each city: prices, rent and state taxes.
Key findings
- Prices in Richmond, VA are 5.7% higher than in Waco, TX. Someone earning $100,000 in Waco, TX would need about $105,700 in Richmond, VA to live the same way.
- Rent is the bigger story: a typical 1-bedroom costs $1,507 a month in Richmond, VA versus $996 in Waco, TX. On $100,000, that's 24% of take-home pay in Richmond, VA and 15% in Waco, TX.
- On $100,000, estimated state income tax is about $4,936 a year higher in Richmond, VA than in Waco, TX.
- For federal employees, locality pay changes a GS-13 step 1 salary by −4.3% moving from Richmond, VA to Waco, TX ($111,183 → $106,437), while prices change by −5.4%. Net effect of the transfer: +1.2% in real buying power.
- Richmond, VA: price level 97.9 (cheaper)
- 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
| Richmond, VA | Waco, TX | |
|---|---|---|
| Price level (U.S. = 100)2 | 97.9 | 92.5 |
| $100,000 is worth, in the other city2 | $94,576 in Waco | $105,735 in Richmond |
| Typical 1-bedroom rent3 | $1,507/mo | $996/mo |
| Take-home on $100,00014,15,8 | $74,244 | $79,180 |
| State income tax on $100,000 (estimate)8 | $4,936 (VA) | $0 (TX) |
| Rent burden on $100,000 | 24% | 15% |
| Median pay, all jobs4 | $51,460 | $46,020 |
| Federal locality pay area7 | Richmond, VA | Rest of U.S. |
Rent areas: Richmond, VA HUD Metro FMR Area and Waco, TX HUD Metro FMR Area. Metro areas: Richmond, VA and Waco, TX.
What costs more or less
| Price level (U.S. = 100) | Richmond | Waco |
|---|---|---|
| Housing (rent) | 99.1 | 83.5 |
| Goods | 96.8 | 93.8 |
| Utilities | 89.2 | 81.0 |
| Other services | 98.6 | 96.2 |
| Overall | 97.9 | 92.5 |
Moving with the same $100,000 salary
Richmond, VA → Waco, TX
Same pay goes further
Buying power +5.7%; rent takes 15% of take-home; state tax −$4,936/yr.
87 Strong offer
Waco, TX → Richmond, VA
Same pay buys less
Buying power −5.4%; rent takes 24% of take-home; state tax +$4,936/yr.
52 Fair offer
On the GS pay scale?
Richmond, VA is in the Richmond, VA pay area; Waco, TX is in Rest of U.S.. The last column shows what a transfer from Richmond, VA to Waco, TX at the same grade and step does to real buying power.
| Grade5,2 | Richmond, VA | Waco, TX | Real change, Richmond → Waco |
|---|---|---|---|
| GS-9 step 1 | $64,475 | $61,722 | +1.2% |
| GS-11 step 1 | $78,009 | $74,678 | +1.2% |
| GS-12 step 1 | $93,499 | $89,508 | +1.2% |
| GS-13 step 1 | $111,183 | $106,437 | +1.2% |
| GS-14 step 1 | $131,385 | $125,776 | +1.2% |
Pay for common jobs
| Median annual pay4 | Richmond, VA | Waco, TX | Waco pay in Richmond dollars |
|---|---|---|---|
| Elementary School Teachers, Except Special Education | $61,290 | $59,100 | $62,490 (+2.0%) |
| Software Developers | $132,120 | $123,080 | $130,139 (−1.5%) |
| Accountants and Auditors | $84,220 | $76,140 | $80,507 (−4.4%) |
| Registered Nurses | $93,580 | $92,890 | $98,217 (+5.0%) |
"Not published" means BLS doesn't release an estimate for that job in that metro.