LA · Housing affordability · 2024

LouisianaHousing Affordability by County

Louisiana's housing market is mid-range — neither crisis nor bargain

At 3.6× of a typical annual income, Louisiana sits comfortably in the middle of the national pack. Buyers face real costs but not the extremes seen in coastal states.

Getting pricey Population: 4,611,961

A mid-range market — neither a bargain nor a crisis by national standards.

Years of income to buy a home

3.6×

▼ 14% vs US average

Typical home price

$216,500

▼ 37% vs US average

Typical monthly rent

$1,064

▼ 19% vs US average

Renters paying too much for rent

47.7%

▲ 6% vs US average

Homeowners stretched thin

14.5%

▼ 10% vs US average

Typical household income

$60,756

▼ 24% vs US average

How to read the bars: the coloured bar is LA's value; the grey tick is the US average. "Paying too much" means spending more than 30% of income on housing — the standard economic threshold for cost burden.

What the data shows

Buying a home in Louisiana is manageable for many families, though it takes real commitment. The typical home costs $216,500, which is about 3.6× of the typical household income of $60,756 a year. A family saving their entire income would need around 3.6 years to cover the purchase price — before mortgage interest, taxes, or upkeep.

Renters face real pressure. The typical rent in Louisiana is $1,064 a month, and 48% of renters spend more than 30% of their income on housing — the point at which most financial advisers say rent becomes unaffordable. That figure is 6% higher than the national average of 45%.

14.5% of Louisiana homeowners with a mortgage spend more than 30% of their income on housing — close to the national average of 16.1%.

How Louisiana ranks nationally

Rank 1 = most expensive / highest burden. Compared against all 50 states and DC (51 in total).

Years to buy a home

32nd

of 51 states

Typical home price

43rd

of 51 states

Typical monthly rent

37th

of 51 states

Renters paying too much

15th

of 51 states

Common questions

Is Louisiana affordable to live in? +

It depends on what you're comparing to. Louisiana is in the middle of the pack nationally. The typical home costs $216,500, which is 3.6× of the typical household income — above the national average, but far from the extremes seen in California or Hawaii.

What is the average rent in Louisiana? +

The typical monthly rent in Louisiana is $1,064, according to the 2024 American Community Survey. About 48% of LA renters spend more than 30% of their income on rent.

How much do you need to earn to buy a home in Louisiana? +

As a rough guide, you'd need a household income of around $54,000 a year to comfortably afford the typical Louisiana home of $216,500, assuming a 20% down payment and standard mortgage terms. The typical Louisiana household earns $60,756 a year.

Explore Louisiana county by county on the map

The state average is only part of the story. Drill into individual counties and census tracts to see where affordability varies most across Louisiana.

Open LA on the map

Other states in the same tier — Getting pricey