Cedar Rapids vs Waco
Fair Market Rent Comparison — HUD 2025 Data
Quick Answer
Waco is 4% cheaper for renters. A 2-bedroom rents for $770/mo vs $800/mo in Cedar Rapids — saving $360/year.
Rent by Unit Size
| Unit Size | Cedar Rapids | Waco | Difference |
|---|---|---|---|
| Studio | $530 | $530 | $0 |
| 1 Bedroom | $637 | $629 | $8 |
| 2 Bedrooms | $800 | $770 | $30 |
| 3 Bedrooms | $966 | $988 | $22 |
| 4 Bedrooms | $1,168 | $1,119 | $49 |
| Median Income | $45,870 | $40,886 | $4,984 |
Cedar Rapids
- Studio
- $530/mo
- 1 BR
- $637/mo
- 2 BR
- $800/mo
- 3 BR
- $966/mo
- 4 BR
- $1,168/mo
- Median Income
- $45,870/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 Cedar Rapids or Waco cheaper to rent in?
Waco is cheaper — a 2-bedroom Fair Market Rent is $770/mo vs $800/mo in Cedar Rapids. That's $30/mo or $360/year more expensive in Cedar Rapids (4% higher).
What is the 2-bedroom rent in Cedar Rapids vs Waco?
The HUD Fair Market Rent for a 2-bedroom in Cedar Rapids is $800/month. In Waco, a 2-bedroom FMR is $770/month.
How do incomes compare between Cedar Rapids and Waco?
The median household income in Cedar Rapids is $45,870/year. In Waco it is $40,886/year. Cedar Rapids has the higher median income.
What is the studio rent in Cedar Rapids vs Waco?
A studio apartment Fair Market Rent in Cedar Rapids is $530/mo. In Waco it is $530/mo.