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These days, finding an affordable place to live in the Louisiana area can be challenging. Home prices in Louisiana are now at a median cost of $235,139, lower than the the United States average of $419,293.
The average cost of rent is $1,122/mo in Louisiana, primarily driven by the current value of real estate in the Louisiana area. In Louisiana, 32.62% of households rent, and 49.32% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Louisiana is $5,839 per month. Households that rent pay about 19.21% of their income on rent here. Louisiana’s most expensive areas are in the southeastern regions, while the cheapest areas are in the northern parts of the state.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby States
States with Similar Populations
- District of Columbia: higher priced homes
- Florida: higher priced homes
- Connecticut: higher priced homes
- New Mexico: higher priced homes
- North Dakota: higher priced homes
- New York: higher priced homes
- North Carolina: higher priced homes
- Ohio: equally priced homes
- Oklahoma: less expensive homes
- Oregon: higher priced homes
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