Housing Market Overview
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Ascension Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Median Home Price | $190,511 | $166,764 | $242,182 |
| Price Trend (Annual %) | 7.7% | 4.5% | 8.2% |
| Median Gross Rent | $1,283 | $1,038 | $1,342 |
| Rent Trend (Annual %) | 4.9% | 3.8% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Ascension Parish is about 14% higher than in Louisiana. Rent is about 24% higher than the Louisiana average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Ascension Parish, up about 7.7% and 4.9% a year respectively. Home prices are changing faster.
Median rent in Ascension Parish rose about 45.6% between 2015 and 2023, from $881 to $1,283. Over the same span, rent in Louisiana rose about 31.9%.
Affordability
On average, housing unit costs 2.1 yearly household incomes in Ascension Parish.
Buying the median-priced home in Ascension Parish costs roughly 12.4 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Ascension Parish. The price-to-rent ratio in Louisiana is about 13.4.
| Metric | Ascension Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Median Home Price | $190,511 | $166,764 | $242,182 |
| Median Household Income | $92,528 | $60,029 | $78,145 |
| Price-to-Income Ratio | 2.1 | 2.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Ascension Parish rose about 27.9%, while median household income rose about 51.8% between 2009 and 2023 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Ascension Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 76.0% | 57.3% | 58.2% |
| Rental Rate | 15.7% | 27.8% | 31.3% |
| Vacancy Rate | 8.2% | 14.8% | 10.6% |
| Median Tenure (years) | 15.0 | 16.0 | 15.0 |
| Median Year Moved In | 2011 | 2010 | 2011 |
Ascension Parish has a homeownership rate of 76.0%, higher than the Louisiana average of 57.3%. Its housing vacancy rate is 8.2%, compared with 14.8% in Louisiana.
Housing Stock
| Metric | Ascension Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.73 people | 2.52 people | 2.54 people |
| Median Structure Built Year | 1999 | 1982 | 1978 |
| Median Number of Rooms | 5.8 | 5.5 | 5.5 |
The typical housing unit in Ascension Parish was built around 1999. On average, 2.7 people live in a home with about 5.8 rooms, staying for about 15.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Ascension Parish, Louisiana.
What is the median home price in Ascension Parish, Louisiana?
The median home price in Ascension Parish, Louisiana is $190,511, higher than the Louisiana average of $166,764.
What is the average home price in Ascension Parish, Louisiana?
The typical home price in %s, reported as the median sale price, is %s. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Ascension Parish, Louisiana?
The median gross rent in Ascension Parish, Louisiana is $1,283 per month, higher than the Louisiana average of $1,038.
What was the median gross rent in Ascension Parish in 2020?
In 2020, the median gross rent in Ascension Parish, Louisiana was $1,030 per month.
What is the price-to-rent ratio in Ascension Parish, Louisiana?
The price-to-rent ratio in Ascension Parish, Louisiana is about 12.4, meaning it would take roughly 12.4 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Ascension Parish.
Are home prices or rent rising faster in Ascension Parish, Louisiana?
Both home prices and rent are rising in Ascension Parish, up about 7.7% and 4.9% a year respectively. Home prices are changing faster.
What is the homeownership rate in Ascension Parish, Louisiana?
76.0% of households in Ascension Parish, Louisiana own their home, higher than the Louisiana average of 57.3%.
What is the vacancy rate in Ascension Parish, Louisiana?
The housing vacancy rate in Ascension Parish, Louisiana is 8.2%, lower than the Louisiana average of 14.8%.