Shreveport vs Waco for First-Time Homebuyers (2026)
Scroll down for down payment requirements, savings timelines, and FAQ.
Your move simulator
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Estimated annual swing
−$3,199/yr
Favoring Waco for this income & household (illustrative).
With the extra $267/mo, you could pay down a $15,000 card balance in ~57 months and still keep ~$32/mo for dining out.
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Mortgage rates
Check mortgage rates in Waco before you commit
Pre-approval is free, tells you exactly what you can afford, and locks nothing in.
High-yield savings
Park ~$3,199/yr savings at 4–5%+ APY
Even $267/mo extra earns meaningfully at 4–5% APY vs near-zero in checking.
Home + auto bundle
New state — compare rates before you sign
Moving to Waco resets your insurance profile. Bundling home + auto often saves 15–25%.
Full first-time buyer cost breakdown
| Metric | Shreveport Louisiana | Waco Texas | Your impact |
|---|---|---|---|
| Median home price | $190KBetter | $210K | — |
| Price-to-income ratio | 4.4×Better | 4.4× | — |
| Down payment (20%) | $38,000Better | $42,000 | — |
| Months to save down payment | 11 moBetter | 11 mo | — |
| Est. monthly mortgage (7%, 30yr) | $1,011Better | $1,118 | $1,284/yr saves in Shreveport |
| Monthly utilities | $205 | $172Better | $396/yr saves in Waco |
| State income tax | 4.3% | NoneBetter | $3,225/yr saves in Waco |
| Sales tax (combined) | 9.5% | 8.3%Better | — |
| Overall COL index (100 = US avg) | 81Better | 83 | — |
Your biggest money opportunities based on this comparison.
Mortgage savings
Shreveport: ~$107/mo less in mortgage payments
Compare mortgage rates and lenders — even 0.5% lower can save tens of thousands over 30 years.
New homeowner must-have
You'll need homeowners insurance from day one
Lenders require it. Compare plans now so you're ready to close — the right policy also protects against disasters.
Complete the Picture
While you’re comparing — don’t leave money on the table.
Mortgages
See what you can afford in Waco
Compare rates from top lenders before your move — pre-approval is free and won't affect your score.
Home & Auto Insurance
Bundle before you move — save 15–25%
New state means new rates. Lock in Waco homeowners + auto quotes before your move date.
Moving Rewards Card
Turn closing costs & moving expenses into cash back
Average family spends $6,200 on a move. These cards pay 2–4% back + 0% intro APR on purchases.
Frequently asked questions
Is Shreveport or Waco better for first-time homebuyers?
Based on home prices, price-to-income ratios, taxes, and overall affordability, Shreveport scores better for first-time homebuyers. The price-to-income ratio is 4.4× in Shreveport (moderate) vs 4.4× in Waco (moderate). Median home prices are $190K in Shreveport vs $210K in Waco. Shreveport is approximately 2% cheaper overall. The best choice depends on your career, savings timeline, and long-term plans.
What is the down payment needed to buy in Shreveport vs Waco?
A standard 20% down payment is $38,000 in Shreveport and $42,000 in Waco. FHA minimum (3.5%): $6,650 in Shreveport vs $7,350 in Waco. FHA loans allow lower down payments but require mortgage insurance premiums (MIP) for the life of the loan if you put down less than 10%.
What would my mortgage be in Shreveport vs Waco?
Assuming 20% down, 7% fixed rate, 30-year term: estimated monthly principal and interest is $1,011 in Shreveport and $1,118 in Waco. That's a difference of $107/month. Note: actual payments will also include property taxes, homeowner's insurance, and possibly PMI. Mortgage rates change frequently — use these as a baseline only.
How long would it take to save for a down payment in Shreveport?
Saving 15% of gross income monthly, it would take approximately 5 years 11 months to save a 20% down payment in Shreveport ($38,000 needed) vs 5 years 10 months in Waco ($42,000 needed). This assumes no existing savings. Many first-time buyers combine down payment savings with gift funds or down payment assistance programs to shorten this timeline.
Which city has lower property and income taxes for homeowners?
Shreveport has a 4.3% state income tax rate vs Waco has no state income tax. On a $200,000/yr income, the difference is ~$717/month in take-home pay. Property taxes vary significantly by neighborhood and assessed value — check local county rates when evaluating specific homes.
$75K in Shreveport has the same purchasing power as $77K in Waco
Mortgage estimate assumes 20% down payment at 7% fixed rate, 30-year term. Actual rates vary. Down payment savings timeline assumes 15% of gross income saved monthly. Data: Zillow, BLS, Tax Foundation · Q1 2026