Living Wage Calculation for Waco, TX

The living wage shown is the hourly rate that an individual in a household must earn to support themselves and/or their family, working full-time, or 2080 hours per year. The tables below provide living wage estimates for individuals and households with one or two working adults and zero to three children. In households with two working adults, all hourly values reflect what one working adult requires to earn to meet their families’ basic needs, assuming the other adult also earns the same.

The poverty wage and state minimum wage are for reference purposes. Poverty wage estimates come from the Department of Health and Human Services’ Poverty Guidelines for 2024 and have been converted from an annual value to an hourly wage for ease of comparison. The state minimum wage data is sourced from the Labor Law Center and includes the minimum wage in a given state as of January of that year.

For further detail, please reference the Methodology page. The data on this page was last updated on February 14, 2024.

1 ADULT 2 ADULTS

(1 WORKING)

2 ADULTS

(BOTH WORKING)

0 Children 1 Child 2 Children 3 Children 0 Children 1 Child 2 Children 3 Children 0 Children 1 Child 2 Children 3 Children
Living Wage $18.64 $31.90 $38.39 $49.41 $26.67 $32.10 $36.05 $38.27 $13.33 $17.94 $21.67 $24.58
Poverty Wage $7.24 $9.83 $12.41 $15.00 $9.83 $12.41 $15.00 $17.59 $4.91 $6.21 $7.50 $8.79
Minimum Wage $7.25 $7.25 $7.25 $7.25 $7.25 $7.25 $7.25 $7.25 $7.25 $7.25 $7.25 $7.25

Typical Expenses

The table below shows the costs of each basic need that go into estimating the living wage. Like with the living wage, their values vary by location and family size.

1 ADULT 2 ADULTS

(1 WORKING)

2 ADULTS

(BOTH WORKING)

0 Children 1 Child 2 Children 3 Children 0 Children 1 Child 2 Children 3 Children 0 Children 1 Child 2 Children 3 Children
Food $3,582 $5,281 $7,921 $10,528 $6,568 $8,176 $10,529 $12,838 $6,568 $8,176 $10,529 $12,838
Child Care $0 $7,065 $13,662 $19,925 $0 $0 $0 $0 $0 $7,065 $13,662 $19,925
Medical $2,867 $9,226 $9,112 $9,584 $6,963 $9,112 $9,584 $9,171 $6,963 $9,112 $9,584 $9,171
Housing $10,375 $15,009 $15,009 $19,427 $11,996 $15,009 $15,009 $19,427 $11,996 $15,009 $15,009 $19,427
Transportation $9,699 $11,225 $14,140 $16,269 $11,225 $14,140 $16,269 $16,251 $11,225 $14,140 $16,269 $16,251
Civic $2,165 $3,810 $4,795 $5,553 $3,810 $4,795 $5,553 $5,191 $3,810 $4,795 $5,553 $5,191
Internet & Mobile $1,371 $1,371 $1,371 $1,371 $1,950 $1,950 $1,950 $1,950 $1,950 $1,950 $1,950 $1,950
Other $3,903 $6,966 $7,407 $10,238 $6,966 $7,407 $10,238 $9,841 $6,966 $7,407 $10,238 $9,841
Required annual income after taxes $33,962 $59,953 $73,417 $92,895 $49,478 $60,589 $69,133 $74,669 $49,478 $67,654 $82,795 $94,594
Annual taxes $4,806 $6,392 $6,437 $9,885 $5,988 $6,171 $5,850 $4,937 $5,988 $6,959 $7,334 $7,653
Required annual income before taxes $38,768 $66,345 $79,854 $102,780 $55,466 $66,759 $74,982 $79,606 $55,466 $74,612 $90,129 $102,247

Typical Annual Salaries

The average annual salaries for various occupations in the table below comes from the latest state-level data from the Bureau of Labor Statistics’ Occupational Employment and Wage Estimates. When available, this data is specific to a given metro area.

Occupational Area Typical Annual Salary
Management $105,960
Business & Financial Operations $69,130
Computer & Mathematical $88,030
Architecture & Engineering $80,960
Life, Physical, & Social Science $68,150
Community & Social Service $50,150
Legal $101,210
Education, Training, & Library $60,710
Arts, Design, Entertainment, Sports, & Media $62,500
Healthcare Practitioners & Technical $87,920
Healthcare Support $28,990
Protective Service $51,460
Food Preparation & Serving Related $26,430
Building & Grounds Cleaning & Maintenance $30,170
Personal Care & Service $31,570
Sales & Related $39,150
Office & Administrative Support $39,870
Farming, Fishing, & Forestry $35,860
Construction & Extraction $45,290
Installation, Maintenance, & Repair $47,420
Production $40,020
Transportation & Material Moving $38,260