Madison vs Waco
Fair Market Rent Comparison — HUD 2025 Data
Quick Answer
Waco is 35% cheaper for renters. A 2-bedroom rents for $770/mo vs $1,038/mo in Madison — saving $3,216/year.
Rent by Unit Size
| Unit Size | Madison | Waco | Difference |
|---|---|---|---|
| Studio | $676 | $530 | $146 |
| 1 Bedroom | $827 | $629 | $198 |
| 2 Bedrooms | $1,038 | $770 | $268 |
| 3 Bedrooms | $1,222 | $988 | $234 |
| 4 Bedrooms | $1,400 | $1,119 | $281 |
| Median Income | $64,691 | $40,886 | $23,805 |
Madison
- Studio
- $676/mo
- 1 BR
- $827/mo
- 2 BR
- $1,038/mo
- 3 BR
- $1,222/mo
- 4 BR
- $1,400/mo
- Median Income
- $64,691/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 Madison or Waco cheaper to rent in?
Waco is cheaper — a 2-bedroom Fair Market Rent is $770/mo vs $1,038/mo in Madison. That's $268/mo or $3,216/year more expensive in Madison (35% higher).
What is the 2-bedroom rent in Madison vs Waco?
The HUD Fair Market Rent for a 2-bedroom in Madison is $1,038/month. In Waco, a 2-bedroom FMR is $770/month.
How do incomes compare between Madison and Waco?
The median household income in Madison is $64,691/year. In Waco it is $40,886/year. Madison has the higher median income.
What is the studio rent in Madison vs Waco?
A studio apartment Fair Market Rent in Madison is $676/mo. In Waco it is $530/mo.