Billings vs Waco
Fair Market Rent Comparison — HUD 2025 Data
Quick Answer
Waco is 19% cheaper for renters. A 2-bedroom rents for $770/mo vs $913/mo in Billings — saving $1,716/year.
Rent by Unit Size
| Unit Size | Billings | Waco | Difference |
|---|---|---|---|
| Studio | $613 | $530 | $83 |
| 1 Bedroom | $724 | $629 | $95 |
| 2 Bedrooms | $913 | $770 | $143 |
| 3 Bedrooms | $1,136 | $988 | $148 |
| 4 Bedrooms | $1,214 | $1,119 | $95 |
| Median Income | $47,175 | $40,886 | $6,289 |
Billings
- Studio
- $613/mo
- 1 BR
- $724/mo
- 2 BR
- $913/mo
- 3 BR
- $1,136/mo
- 4 BR
- $1,214/mo
- Median Income
- $47,175/yr
Waco
- Studio
- $530/mo
- 1 BR
- $629/mo
- 2 BR
- $770/mo
- 3 BR
- $988/mo
- 4 BR
- $1,119/mo
- Median Income
- $40,886/yr
Frequently Asked Questions
Is Billings or Waco cheaper to rent in?
Waco is cheaper — a 2-bedroom Fair Market Rent is $770/mo vs $913/mo in Billings. That's $143/mo or $1,716/year more expensive in Billings (19% higher).
What is the 2-bedroom rent in Billings vs Waco?
The HUD Fair Market Rent for a 2-bedroom in Billings is $913/month. In Waco, a 2-bedroom FMR is $770/month.
How do incomes compare between Billings and Waco?
The median household income in Billings is $47,175/year. In Waco it is $40,886/year. Billings has the higher median income.
What is the studio rent in Billings vs Waco?
A studio apartment Fair Market Rent in Billings is $613/mo. In Waco it is $530/mo.