Odessa, TX vs Waco, TX: cost of living compared
Price levels from BEA (2024); rent and home values from Zillow (September 2026).
The short answer
- Overall, Waco, TX is 1.4% less expensive than Odessa, TX (BEA, 2024).
- To keep the same standard of living, $75,000 in Odessa works out to about $73,900 in Waco, before taxes.
- Most of the difference is housing, which costs 6.9% less in Waco. Goods are 0.0% higher and other services 0.0% higher.
- Typical asking rent is $1,419 a month in Waco and $1,580 in Odessa, $1,932 a year less in Waco (Zillow, September 2026).
- A typical home is valued at about $250,000 in Waco and $252,000 in Odessa.
- The gap has narrowed since 2019, when Waco was 5.9% less expensive than Odessa.
derived Calculated from BEA Regional Price Parities (2024) and Zillow data. Based on an average household's spending; taxes not included. How we calculate.
Category by category
Both cities against the US average (100). The gap in each row is what matters for a move.
Housing drives the gap: 6.9% lower in Waco than in Odessa
Price level by category, 2024. US average = 100.
- Odessa, TX
- Waco, TX
Source: U.S. Bureau of Economic Analysis, Regional Price Parities by metropolitan area, 2024 (US = 100).
Show the numbers
| Odessa, TX | Waco, TX | |
|---|---|---|
| All items | 93.9 | 92.6 |
| Goods | 93.8 | 93.8 |
| Housing (rents) | 89.7 | 83.5 |
| Utilities | 82.9 | 81.0 |
| Other services | 96.2 | 96.2 |
| Category | Odessa | Waco | Waco vs Odessa |
|---|---|---|---|
| All items | 93.9 | 92.6 | −1.4% |
| Goods | 93.8 | 93.8 | 0.0% |
| Housing (rents) | 89.7 | 83.5 | −6.9% |
| Utilities | 82.9 | 81.0 | −2.3% |
| Other services | 96.2 | 96.2 | 0.0% |
| Typical asking rent | $1,580 | $1,419 | −10.2% |
| Typical home value | $252,000 | $250,000 | −0.9% |
| Salary to match $75,000 in Odessa | $75,000 | $73,900 | −1.4% |
Index values: BEA, 2024, US = 100. Rent and home values: Data Provided by Zillow Group, September 2026.
How the gap has changed since 2008
The price gap between Odessa and Waco has narrowed since 2008: 2.9 points then, 1.3 now
Overall price level each year, 2008–2024. US average = 100.
- Odessa, TX
- Waco, TX
Source: U.S. Bureau of Economic Analysis, Regional Price Parities by metropolitan area, 2024 (US = 100).
Show the numbers
| Odessa, TX | Waco, TX | |
|---|---|---|
| 2008 | 96.4 | 93.5 |
| 2009 | 94.2 | 91.9 |
| 2010 | 96.3 | 93.0 |
| 2011 | 98.6 | 93.4 |
| 2012 | 97.9 | 94.7 |
| 2013 | 100.0 | 93.1 |
| 2014 | 101.3 | 94.2 |
| 2015 | 99.3 | 94.6 |
| 2016 | 99.1 | 94.2 |
| 2017 | 98.4 | 93.2 |
| 2018 | 96.9 | 91.8 |
| 2019 | 98.1 | 92.3 |
| 2020 | 99.1 | 93.4 |
| 2021 | 96.3 | 94.1 |
| 2022 | 94.1 | 92.9 |
| 2023 | 92.6 | 91.1 |
| 2024 | 93.9 | 92.6 |
Goods
- Odessa, TX
- Waco, TX
Source: U.S. Bureau of Economic Analysis, Regional Price Parities by metropolitan area, 2024 (US = 100).
Show the numbers
| Odessa, TX | Waco, TX | |
|---|---|---|
| 2008 | 97.1 | 96.6 |
| 2009 | 95.2 | 94.6 |
| 2010 | 96.6 | 96.6 |
| 2011 | 96.9 | 96.5 |
| 2012 | 97.3 | 96.3 |
| 2013 | 97.3 | 96.8 |
| 2014 | 97.6 | 96.7 |
| 2015 | 97.0 | 96.1 |
| 2016 | 97.2 | 96.6 |
| 2017 | 97.1 | 96.5 |
| 2018 | 94.4 | 94.4 |
| 2019 | 96.2 | 96.2 |
| 2020 | 96.2 | 96.2 |
| 2021 | 96.2 | 96.2 |
| 2022 | 93.7 | 93.7 |
| 2023 | 92.9 | 92.9 |
| 2024 | 93.8 | 93.8 |
Housing (rents)
- Odessa, TX
- Waco, TX
Source: U.S. Bureau of Economic Analysis, Regional Price Parities by metropolitan area, 2024 (US = 100).
Show the numbers
| Odessa, TX | Waco, TX | |
|---|---|---|
| 2008 | 87.8 | 76.3 |
| 2009 | 81.1 | 74.4 |
| 2010 | 85.3 | 73.4 |
| 2011 | 98.5 | 74.5 |
| 2012 | 93.5 | 79.0 |
| 2013 | 109.1 | 70.9 |
| 2014 | 117.7 | 75.7 |
| 2015 | 101.7 | 78.2 |
| 2016 | 96.2 | 73.8 |
| 2017 | 99.3 | 74.6 |
| 2018 | 103.6 | 75.1 |
| 2019 | 109.2 | 75.3 |
| 2020 | 108.2 | 76.1 |
| 2021 | 94.2 | 81.1 |
| 2022 | 88.3 | 82.9 |
| 2023 | 83.5 | 77.3 |
| 2024 | 89.7 | 83.5 |
Utilities
- Odessa, TX
- Waco, TX
Source: U.S. Bureau of Economic Analysis, Regional Price Parities by metropolitan area, 2024 (US = 100).
Show the numbers
| Odessa, TX | Waco, TX | |
|---|---|---|
| 2008 | 100.0 | 98.0 |
| 2009 | 94.2 | 92.6 |
| 2010 | 95.4 | 93.6 |
| 2011 | 90.2 | 89.1 |
| 2012 | 89.1 | 88.3 |
| 2013 | 89.9 | 89.2 |
| 2014 | 93.3 | 93.1 |
| 2015 | 90.9 | 91.2 |
| 2016 | 87.0 | 87.2 |
| 2017 | 82.7 | 82.7 |
| 2018 | 84.4 | 83.4 |
| 2019 | 86.0 | 85.2 |
| 2020 | 86.2 | 85.5 |
| 2021 | 86.3 | 84.8 |
| 2022 | 87.5 | 86.6 |
| 2023 | 89.7 | 88.6 |
| 2024 | 82.9 | 81.0 |
Other services
- Odessa, TX
- Waco, TX
Source: U.S. Bureau of Economic Analysis, Regional Price Parities by metropolitan area, 2024 (US = 100).
Show the numbers
| Odessa, TX | Waco, TX | |
|---|---|---|
| 2008 | 98.5 | 98.0 |
| 2009 | 98.1 | 97.2 |
| 2010 | 100.0 | 99.0 |
| 2011 | 100.8 | 99.8 |
| 2012 | 100.7 | 100.3 |
| 2013 | 100.3 | 100.0 |
| 2014 | 100.3 | 100.0 |
| 2015 | 101.0 | 100.5 |
| 2016 | 102.3 | 101.5 |
| 2017 | 100.5 | 99.6 |
| 2018 | 97.7 | 97.7 |
| 2019 | 96.9 | 96.9 |
| 2020 | 99.3 | 99.3 |
| 2021 | 98.1 | 98.1 |
| 2022 | 96.7 | 96.7 |
| 2023 | 95.8 | 95.8 |
| 2024 | 96.2 | 96.2 |
Rent and home values
Typical asking rent: $1,419 in Waco vs $1,580 in Odessa
Typical asking rent for a new lease, dollars per month. Quarterly.
- Odessa, TX
- Waco, TX
- United States
Source: Zillow Observed Rent Index (typical asking rent, all homes, smoothed), through September 2026. Data Provided by Zillow Group.
Show the numbers
| Odessa, TX | Waco, TX | United States | |
|---|---|---|---|
| Mar 2015 | – | $843 | $1,145 |
| Jun 2015 | – | $852 | $1,170 |
| Sep 2015 | – | $852 | $1,181 |
| Dec 2015 | – | $856 | $1,182 |
| Mar 2016 | – | $860 | $1,195 |
| Jun 2016 | – | $884 | $1,219 |
| Sep 2016 | – | $892 | $1,225 |
| Dec 2016 | – | $887 | $1,222 |
| Mar 2017 | – | $890 | $1,245 |
| Jun 2017 | – | $907 | $1,270 |
| Sep 2017 | – | $916 | $1,276 |
| Dec 2017 | $1,209 | $916 | $1,275 |
| Mar 2018 | $1,307 | $930 | $1,296 |
| Jun 2018 | $1,362 | $949 | $1,320 |
| Sep 2018 | $1,477 | $940 | $1,327 |
| Dec 2018 | $1,443 | $950 | $1,329 |
| Mar 2019 | $1,506 | $961 | $1,349 |
| Jun 2019 | $1,532 | $991 | $1,376 |
| Sep 2019 | $1,479 | $991 | $1,383 |
| Dec 2019 | $1,401 | $988 | $1,381 |
| Mar 2020 | $1,420 | $995 | $1,402 |
| Jun 2020 | $1,246 | $1,032 | $1,406 |
| Sep 2020 | $1,206 | $1,026 | $1,410 |
| Dec 2020 | $1,138 | $1,052 | $1,407 |
| Mar 2021 | $1,197 | $1,070 | $1,443 |
| Jun 2021 | $1,170 | $1,120 | $1,512 |
| Sep 2021 | $1,177 | $1,163 | $1,590 |
| Dec 2021 | $1,185 | $1,205 | $1,622 |
| Mar 2022 | $1,212 | $1,212 | $1,661 |
| Jun 2022 | $1,290 | $1,302 | $1,721 |
| Sep 2022 | $1,369 | $1,318 | $1,748 |
| Dec 2022 | $1,402 | $1,317 | $1,735 |
| Mar 2023 | $1,436 | $1,327 | $1,757 |
| Jun 2023 | $1,493 | $1,331 | $1,785 |
| Sep 2023 | $1,533 | $1,356 | $1,797 |
| Dec 2023 | $1,517 | $1,344 | $1,786 |
| Mar 2024 | $1,542 | $1,356 | $1,807 |
| Jun 2024 | $1,543 | $1,376 | $1,837 |
| Sep 2024 | $1,566 | $1,386 | $1,845 |
| Dec 2024 | $1,561 | $1,386 | $1,836 |
| Mar 2025 | $1,566 | $1,370 | $1,860 |
| Jun 2025 | $1,640 | $1,381 | $1,880 |
| Sep 2025 | $1,572 | $1,392 | $1,881 |
| Dec 2025 | $1,572 | $1,399 | $1,873 |
| Mar 2026 | $1,578 | $1,395 | $1,894 |
| Jun 2026 | $1,572 | $1,395 | $1,921 |
| Sep 2026 | $1,580 | $1,419 | $1,932 |
Typical home value: $250,000 in Waco vs $252,000 in Odessa
Typical home value, dollars. Quarterly.
- Odessa, TX
- Waco, TX
- United States
Source: Zillow Home Value Index (typical home value, middle tier, smoothed, seasonally adjusted), through September 2026. Data Provided by Zillow Group.
Show the numbers
| Odessa, TX | Waco, TX | United States | |
|---|---|---|---|
| Mar 2015 | $161K | $115K | $189K |
| Jun 2015 | $165K | $117K | $192K |
| Sep 2015 | $167K | $120K | $195K |
| Dec 2015 | $168K | $122K | $199K |
| Mar 2016 | $169K | $123K | $202K |
| Jun 2016 | $168K | $125K | $204K |
| Sep 2016 | $165K | $127K | $206K |
| Dec 2016 | $162K | $131K | $209K |
| Mar 2017 | $161K | $134K | $213K |
| Jun 2017 | $164K | $137K | $216K |
| Sep 2017 | $164K | $140K | $219K |
| Dec 2017 | $166K | $144K | $223K |
| Mar 2018 | $167K | $147K | $227K |
| Jun 2018 | $172K | $151K | $230K |
| Sep 2018 | $178K | $153K | $234K |
| Dec 2018 | $185K | $156K | $236K |
| Mar 2019 | $193K | $158K | $239K |
| Jun 2019 | $202K | $161K | $242K |
| Sep 2019 | $211K | $163K | $244K |
| Dec 2019 | $219K | $166K | $247K |
| Mar 2020 | $223K | $169K | $252K |
| Jun 2020 | $226K | $172K | $255K |
| Sep 2020 | $229K | $177K | $260K |
| Dec 2020 | $226K | $186K | $271K |
| Mar 2021 | $226K | $193K | $282K |
| Jun 2021 | $224K | $205K | $296K |
| Sep 2021 | $221K | $215K | $306K |
| Dec 2021 | $221K | $222K | $314K |
| Mar 2022 | $221K | $237K | $330K |
| Jun 2022 | $221K | $252K | $346K |
| Sep 2022 | $218K | $255K | $348K |
| Dec 2022 | $218K | $253K | $345K |
| Mar 2023 | $217K | $251K | $343K |
| Jun 2023 | $221K | $254K | $347K |
| Sep 2023 | $222K | $254K | $352K |
| Dec 2023 | $223K | $252K | $354K |
| Mar 2024 | $230K | $254K | $357K |
| Jun 2024 | $235K | $256K | $361K |
| Sep 2024 | $236K | $254K | $361K |
| Dec 2024 | $239K | $253K | $363K |
| Mar 2025 | $242K | $253K | $364K |
| Jun 2025 | $242K | $251K | $362K |
| Sep 2025 | $243K | $249K | $362K |
| Dec 2025 | $249K | $249K | $364K |
| Mar 2026 | $255K | $251K | $366K |
| Jun 2026 | $255K | $250K | $365K |
| Sep 2026 | $252K | $250K | $366K |
More about each city
What this comparison leaves out
- Taxes. State and local income, sales and property taxes can change the result a lot, especially between states.
- Neighborhoods. These are metro-wide averages; a city center and its outer suburbs can differ by more than two metros do.
- Your own spending mix. The default uses an average household. Use the housing slider above if rent is a bigger share of your budget.
- Timing. BEA price levels are for 2024; Zillow figures are monthly and newer.