Salary Needed to Live in Waco as a Retiree
A retired individual (65+) needs approximately $16,851/year to live comfortably in Waco, TX — including 5% savings.
Comfortable Salary
$16,851
with 5% savings
Bare Minimum
$15,728
no savings buffer
Monthly Expenses
$983
19% below national avg
Detailed Monthly Budget for a Retiree in Waco
| Expense | Waco | Nat'l Avg | Diff |
|---|---|---|---|
| 🏠 1-2BR Senior-Friendly Rent | $87 | $121 | -28% |
| 🛒 Groceries | $15 | $16 | -6% |
| ⚡ Utilities | $15 | $15 | 0% |
| 🚗 Transportation | $18 | $18 | 0% |
| 🛡️ Car Insurance | $162 | $223 | -27% |
| 🏥 Health Insurance | $55 | $56 | -2% |
| Medicare Supplement | $164 | $200 | -18% |
| Prescription Drugs | $123 | $150 | -18% |
| Internet + Phone | $98 | $120 | -18% |
| Recreation & Social | $164 | $200 | -18% |
| Home Maintenance | $82 | $100 | -18% |
| Total Monthly | $983 | $1,219 | -19% |
How We Calculated the Salary
Monthly expenses:$983
Target savings (5%):$55/mo
Monthly after-tax needed:$1,038
Effective tax rate:25%
Gross annual salary needed:$16,851
Other Household Types in Waco
Related Pages
FAQ
What salary does a retiree need in Waco?
A retiree needs approximately $16,851/year ($1,404/month gross) to live comfortably in Waco with a 5% savings rate.
How much is rent for a retiree in Waco?
A 1-2br senior-friendly in Waco costs approximately $87/month, which is the largest single expense at 9% of the total budget.
Is Waco affordable for a retiree?
Yes, Waco is 19% more affordable than the national average for a retiree.