Salem vs Waco
Fair Market Rent Comparison — HUD 2025 Data
Quick Answer
Waco is 48% cheaper for renters. A 2-bedroom rents for $770/mo vs $1,137/mo in Salem — saving $4,404/year.
Rent by Unit Size
| Unit Size | Salem | Waco | Difference |
|---|---|---|---|
| Studio | $741 | $530 | $211 |
| 1 Bedroom | $913 | $629 | $284 |
| 2 Bedrooms | $1,137 | $770 | $367 |
| 3 Bedrooms | $1,411 | $988 | $423 |
| 4 Bedrooms | $1,615 | $1,119 | $496 |
| Median Income | $53,953 | $40,886 | $13,067 |
Salem
- Studio
- $741/mo
- 1 BR
- $913/mo
- 2 BR
- $1,137/mo
- 3 BR
- $1,411/mo
- 4 BR
- $1,615/mo
- Median Income
- $53,953/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 Salem or Waco cheaper to rent in?
Waco is cheaper — a 2-bedroom Fair Market Rent is $770/mo vs $1,137/mo in Salem. That's $367/mo or $4,404/year more expensive in Salem (48% higher).
What is the 2-bedroom rent in Salem vs Waco?
The HUD Fair Market Rent for a 2-bedroom in Salem is $1,137/month. In Waco, a 2-bedroom FMR is $770/month.
How do incomes compare between Salem and Waco?
The median household income in Salem is $53,953/year. In Waco it is $40,886/year. Salem has the higher median income.
What is the studio rent in Salem vs Waco?
A studio apartment Fair Market Rent in Salem is $741/mo. In Waco it is $530/mo.