Phoenix-Mesa-Chandler vs Waco
Fair Market Rent Comparison — HUD 2025 Data
Quick Answer
Waco is 50% cheaper for renters. A 2-bedroom rents for $770/mo vs $1,158/mo in Phoenix-Mesa-Chandler — saving $4,656/year.
Rent by Unit Size
| Unit Size | Phoenix-Mesa-Chandler | Waco | Difference |
|---|---|---|---|
| Studio | $752 | $530 | $222 |
| 1 Bedroom | $943 | $629 | $314 |
| 2 Bedrooms | $1,158 | $770 | $388 |
| 3 Bedrooms | $1,495 | $988 | $507 |
| 4 Bedrooms | $1,715 | $1,119 | $596 |
| Median Income | $62,754 | $40,886 | $21,868 |
Phoenix-Mesa-Chandler
- Studio
- $752/mo
- 1 BR
- $943/mo
- 2 BR
- $1,158/mo
- 3 BR
- $1,495/mo
- 4 BR
- $1,715/mo
- Median Income
- $62,754/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 Phoenix-Mesa-Chandler or Waco cheaper to rent in?
Waco is cheaper — a 2-bedroom Fair Market Rent is $770/mo vs $1,158/mo in Phoenix-Mesa-Chandler. That's $388/mo or $4,656/year more expensive in Phoenix-Mesa-Chandler (50% higher).
What is the 2-bedroom rent in Phoenix-Mesa-Chandler vs Waco?
The HUD Fair Market Rent for a 2-bedroom in Phoenix-Mesa-Chandler is $1,158/month. In Waco, a 2-bedroom FMR is $770/month.
How do incomes compare between Phoenix-Mesa-Chandler and Waco?
The median household income in Phoenix-Mesa-Chandler is $62,754/year. In Waco it is $40,886/year. Phoenix-Mesa-Chandler has the higher median income.
What is the studio rent in Phoenix-Mesa-Chandler vs Waco?
A studio apartment Fair Market Rent in Phoenix-Mesa-Chandler is $752/mo. In Waco it is $530/mo.