Waco vs San Antonio for First-Time Homebuyers (2026)
Scroll down for down payment requirements, savings timelines, and FAQ.
Your move simulator
Slide to match your household — estimates combine take-home, rent, and groceries.
Estimated annual swing
+$1,248/yr
Favoring Waco for this income & household (illustrative).
With an extra $104/mo in Waco, you could max a Roth IRA contribution faster and still increase your fun budget.
Complete the Picture
While you’re comparing — don’t leave money on the table.
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
Grow your move fund while rates are high
Even $104/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 | Waco Texas | San Antonio Texas | Your impact |
|---|---|---|---|
| Median home price | $210KBetter | $260K | — |
| Price-to-income ratio | 4.4×Better | 4.7× | — |
| Down payment (20%) | $42,000Better | $52,000 | — |
| Months to save down payment | 11 moBetter | 11 mo | — |
| Est. monthly mortgage (7%, 30yr) | $1,118Better | $1,384 | $3,192/yr saves in Waco |
| Monthly utilities | $172Better | $175 | — |
| State income tax | NoneBetter | None | — |
| Sales tax (combined) | 8.3%Better | 8.3% | — |
| Overall COL index (100 = US avg) | 83Better | 87 | — |
Your biggest money opportunities based on this comparison.
Mortgage savings
Waco: ~$266/mo less in mortgage payments
Compare mortgage rates and lenders — even 0.5% lower can save tens of thousands over 30 years.
Down payment savings
Waco requires $10K less for a 20% down payment
Park your down payment savings in a high-yield account — earn 4–5% APY while you save.
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 San Antonio
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 San Antonio 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 Waco or San Antonio better for first-time homebuyers?
Based on home prices, price-to-income ratios, taxes, and overall affordability, Waco scores better for first-time homebuyers. The price-to-income ratio is 4.4× in Waco (moderate) vs 4.7× in San Antonio (moderate). Median home prices are $210K in Waco vs $260K in San Antonio. Waco is approximately 5% cheaper overall. The best choice depends on your career, savings timeline, and long-term plans.
What is the down payment needed to buy in Waco vs San Antonio?
A standard 20% down payment is $42,000 in Waco and $52,000 in San Antonio. FHA minimum (3.5%): $7,350 in Waco vs $9,100 in San Antonio. 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 Waco vs San Antonio?
Assuming 20% down, 7% fixed rate, 30-year term: estimated monthly principal and interest is $1,118 in Waco and $1,384 in San Antonio. That's a difference of $266/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 Waco?
Saving 15% of gross income monthly, it would take approximately 5 years 10 months to save a 20% down payment in Waco ($42,000 needed) vs 6 years 4 months in San Antonio ($52,000 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?
Both Waco and San Antonio have the same 0% state income tax rate. Property taxes vary by neighborhood — check local county assessor data for specific homes you're considering.
$75K in Waco has the same purchasing power as $79K in San Antonio
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