Shreveport, LA

Rent vs buy in Shreveport

Median home $187,300. A 1 bedrooms rents for $1,093 a month. Ownership is modelled at 20% down, 6.5% APR, property tax and upkeep.

Rent · 1 bedrooms: $1,093; per month
Own the median home: $1,217; P&I, tax, insurance, upkeep
Owning costs extra: $124; per month, same metro

What a purchase actually costs

20% down payment$37,460
Mortgage at 6.5%$947
Property tax (0.63% of value)$98/mo · $1,180/yr
Insurance and upkeep (1.1%/yr)$172
Total monthly ownership$1,217

Months of leftover to save the down payment

At $2,245 left over a month, it takes about 17 months (1.4 years) to save $37,460 if every leftover dollar goes to the down payment — which it won't.

Rent is asking rent for a new lease. Home value is the Census ACS median. The mortgage is a 30-year fixed at 6.5% with 20% down — a yardstick, not a quote. Not housing or lending advice.