Fargo 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 Fargo — saving $1,716/year.
Rent by Unit Size
| Unit Size | Fargo | Waco | Difference |
|---|---|---|---|
| Studio | $577 | $530 | $47 |
| 1 Bedroom | $717 | $629 | $88 |
| 2 Bedrooms | $913 | $770 | $143 |
| 3 Bedrooms | $1,145 | $988 | $157 |
| 4 Bedrooms | $1,249 | $1,119 | $130 |
| Median Income | $45,978 | $40,886 | $5,092 |
Fargo
- Studio
- $577/mo
- 1 BR
- $717/mo
- 2 BR
- $913/mo
- 3 BR
- $1,145/mo
- 4 BR
- $1,249/mo
- Median Income
- $45,978/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 Fargo or Waco cheaper to rent in?
Waco is cheaper — a 2-bedroom Fair Market Rent is $770/mo vs $913/mo in Fargo. That's $143/mo or $1,716/year more expensive in Fargo (19% higher).
What is the 2-bedroom rent in Fargo vs Waco?
The HUD Fair Market Rent for a 2-bedroom in Fargo is $913/month. In Waco, a 2-bedroom FMR is $770/month.
How do incomes compare between Fargo and Waco?
The median household income in Fargo is $45,978/year. In Waco it is $40,886/year. Fargo has the higher median income.
What is the studio rent in Fargo vs Waco?
A studio apartment Fair Market Rent in Fargo is $577/mo. In Waco it is $530/mo.