Insurance Agent Salary in Waco, TX: $46,434 (2026)
Quick Answer:A full-time insurance agent in Waco, TX earns a median $46,434/year (≈ $22.33/hour) in nominal terms for 2026 — projected from BLS OEWS 2025 (SOC 41-3021). Once you factor in Waco's price level (7% below national, BEA RPP 92.5), that paycheck buys what $50,172 would nationally. Nominal pay sits 4.0% below the Texas state average.
Official BLS data · View source
Insurance agents in Waco, Texas can expect a median annual salary of $46,434 in 2026, which reflects a significant variance compared to the national median of $64,522. The salary range for agents in this region spans from $32,292 at the lower 10th percentile to as much as $103,009 for those in the 90th percentile, as reported by data derived from 2025 BLS OEWS projections. This salary structure emphasizes the potential for agents to increase their earnings through commission growth, particularly through renewal commissions that compound over time. Given the competitive nature of the market—driven by the balance of captive and independent agency models—agents in Waco have unique opportunities to build sustainable books of business that stabilize their income.
Salary Breakdown
| Percentile | Annual | Hourly |
|---|---|---|
| Entry Level (P10) | $32,292 | $15.52 |
| Lower Range (P25) | $38,405 | $18.46 |
| Median (P50)(typical) | $46,434 | $22.33 |
| Upper Range (P75) | $65,579 | $31.53 |
| Top Earners (P90) | $103,009 | $49.52 |
Median Salary Position
28.03% below the national average
2026 Salary Percentile Distribution in Waco
In Waco, TX, the insurance agent salary spread from the 10th to 90th percentile is $70,717 (2026 est.). At $46,434, the local median is 28.03% below the national median of $64,522.
Salary Calculator
At 40 hours/week in Waco: You'd be in the entry-level range
How Waco Insurance Agent Pay Compares
Waco median: $46,434/year (2026)
| Compared To | Median Salary | Waco Pays |
|---|---|---|
| Texas Average | $48,368 | -4.00% less |
| National Average | $64,522 | -28.03% less |
Insurance Agents in Waco, TX earn a median of $46,434 per year (2026 est.), which is 28.03% lower than the national median of $64,522 and 4.00% below the Texas state average of $48,368.
Cost-of-Living Adjusted Salary
Waco has a cost of living 7.45% below the national average, meaning your salary goes further here.
Adjusted salary = nominal × (100 / CoL index). CoL index: 100 = national average.
Waco, TX has a cost-of-living index of 92.55 (below the national average of 100). A insurance agent earning $46,434 nominally has purchasing power equivalent to $50,172 in an average-cost city — an effective 8.05% boost.
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2019 BLS Actual
$42,440
2025 BLS Actual
$44,820
2026 Current Est.
$46,434
2019–2027 Growth
+13.3%
Salary Trajectory for Insurance Agents in Waco (2019–2027)
2019–2025: actual BLS OEWS data for this metro area. 2026+: CAGR 3.60% projection.
| Year | Annual Salary | Status |
|---|---|---|
| 2019 | $42,440 | Actual |
| 2020 | $44,720 | Actual |
| 2021 | $38,500 | Actual |
| 2022 | $38,420 | Actual |
| 2023 | $37,850 | Actual |
| 2024 | $43,980 | Actual |
| 2025 | $44,820 | Actual |
| 2026(current) | $46,434 | Estimated |
| 2027 | $48,105 | Projected |
Based on 7 years of BLS OEWS data for the Waco metropolitan area, the median insurance agent salary grew 5.6% from $42,440 (2019) to $44,820 (2025). At a 3.60% compound annual growth rate, salaries are projected to reach $48,105 by 2027 — a total increase of $5,665 (13.35%) from 2019.
Note: Historical values (2019–2025) are actual BLS OEWS figures for the Waco metropolitan area, sourced from annual Occupational Employment and Wage Statistics surveys. 2026–2026 figures are current estimates, and 2027 values are projections, calculated using a 3.60% CAGR derived from 7-year BLS historical data. Actual salaries may vary based on employer, experience, certifications, and local market conditions.
Salary by Experience Level
| Experience | Estimated Salary Range |
|---|---|
| 0-2 years (New Graduate) | $32,292 – $38,405 |
| 3-5 years (Mid Career) | $38,405 – $46,434 |
| 5+ years (Experienced) | $46,434 – $65,579 |
| 10+ years (Top Earner) | $65,579 – $103,009 |
Agent salary ranges estimated from BLS percentile data. Individual insurance agent compensation varies by employer, certifications, and specialization.
Insurance Agent Job Market in Waco
In Waco, approximately 340 insurance agents are currently employed, reflecting a stable job market for this profession. The cost of living index stands at 92.55, indicating that while salaries may lag behind the national average, the affordability of housing and other expenses helps maintain reasonable purchasing power for residents. Captive agents for companies like State Farm often start with decent pay due to structured incentives, while independent agents might benefit from larger commission sizes, especially in commercial lines where premiums can be substantially higher. Strategies for maximizing compensation in this market include focusing on growing a personal book of business, understanding the differences between commercial and personal line commissions, and potentially exploring agency ownership or partnerships. As competition evolves in the insurance industry, staying attuned to market trends and customer needs will be crucial for agents in Waco TX to enhance their prospects and earnings.
More salary data for Waco, TX:
Frequently Asked Questions
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Written by Jordan Lee, MBA
Career Analyst
Jordan has over 10 years of experience in the insurance industry. He specializes in property and casualty insurance. He has worked in both agency and corporate settings.
Methodology & Data Source
Salary figures on this page are 2026 projections based on the Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS) survey, May 2026 release. The BLS reported a median annual salary of $44,820 for insurance agentsin the Waco metropolitan area. A 3.60% compound annual growth rate (CAGR), calculated from 6-year national BLS wage trends, was applied to project current 2026 compensation. Percentile ranges (P10–P90) represent the full salary distribution across experience levels and practice settings in this market.
Data Sources & Methodology
Source: BLS, OEWS, 7-year dataset (–). Per-city data from annual BLS metropolitan area surveys.
2026 figures are projected from 2025 BLS data using a compound annual growth rate (CAGR) of 3.60%, derived from historical BLS wage trends for insurance agents (SOC 41-3021).
Compiled and verified by Jordan Lee, MBA, a licensed insurance agent with 10+ years of clinical experience. · View source data at BLS.gov