Chicago-Naperville-Elgin vs Waco
Fair Market Rent Comparison — HUD 2025 Data
Quick Answer
Waco is 59% cheaper for renters. A 2-bedroom rents for $770/mo vs $1,222/mo in Chicago-Naperville-Elgin — saving $5,424/year.
Rent by Unit Size
| Unit Size | Chicago-Naperville-Elgin | Waco | Difference |
|---|---|---|---|
| Studio | $849 | $530 | $319 |
| 1 Bedroom | $1,023 | $629 | $394 |
| 2 Bedrooms | $1,222 | $770 | $452 |
| 3 Bedrooms | $1,528 | $988 | $540 |
| 4 Bedrooms | $1,886 | $1,119 | $767 |
| Median Income | $79,852 | $40,886 | $38,966 |
Chicago-Naperville-Elgin
- Studio
- $849/mo
- 1 BR
- $1,023/mo
- 2 BR
- $1,222/mo
- 3 BR
- $1,528/mo
- 4 BR
- $1,886/mo
- Median Income
- $79,852/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 Chicago-Naperville-Elgin or Waco cheaper to rent in?
Waco is cheaper — a 2-bedroom Fair Market Rent is $770/mo vs $1,222/mo in Chicago-Naperville-Elgin. That's $452/mo or $5,424/year more expensive in Chicago-Naperville-Elgin (59% higher).
What is the 2-bedroom rent in Chicago-Naperville-Elgin vs Waco?
The HUD Fair Market Rent for a 2-bedroom in Chicago-Naperville-Elgin is $1,222/month. In Waco, a 2-bedroom FMR is $770/month.
How do incomes compare between Chicago-Naperville-Elgin and Waco?
The median household income in Chicago-Naperville-Elgin is $79,852/year. In Waco it is $40,886/year. Chicago-Naperville-Elgin has the higher median income.
What is the studio rent in Chicago-Naperville-Elgin vs Waco?
A studio apartment Fair Market Rent in Chicago-Naperville-Elgin is $849/mo. In Waco it is $530/mo.