Salt Lake City vs Waco
Fair Market Rent Comparison — HUD 2025 Data
Quick Answer
Waco is 46% cheaper for renters. A 2-bedroom rents for $770/mo vs $1,127/mo in Salt Lake City — saving $4,284/year.
Rent by Unit Size
| Unit Size | Salt Lake City | Waco | Difference |
|---|---|---|---|
| Studio | $754 | $530 | $224 |
| 1 Bedroom | $912 | $629 | $283 |
| 2 Bedrooms | $1,127 | $770 | $357 |
| 3 Bedrooms | $1,352 | $988 | $364 |
| 4 Bedrooms | $1,632 | $1,119 | $513 |
| Median Income | $77,224 | $40,886 | $36,338 |
Salt Lake City
- Studio
- $754/mo
- 1 BR
- $912/mo
- 2 BR
- $1,127/mo
- 3 BR
- $1,352/mo
- 4 BR
- $1,632/mo
- Median Income
- $77,224/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 Salt Lake City or Waco cheaper to rent in?
Waco is cheaper — a 2-bedroom Fair Market Rent is $770/mo vs $1,127/mo in Salt Lake City. That's $357/mo or $4,284/year more expensive in Salt Lake City (46% higher).
What is the 2-bedroom rent in Salt Lake City vs Waco?
The HUD Fair Market Rent for a 2-bedroom in Salt Lake City is $1,127/month. In Waco, a 2-bedroom FMR is $770/month.
How do incomes compare between Salt Lake City and Waco?
The median household income in Salt Lake City is $77,224/year. In Waco it is $40,886/year. Salt Lake City has the higher median income.
What is the studio rent in Salt Lake City vs Waco?
A studio apartment Fair Market Rent in Salt Lake City is $754/mo. In Waco it is $530/mo.