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 | Grant Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Median Home Price | $123,213 | $166,764 | $242,182 |
| Price Trend (Annual %) | 30.7% | 4.5% | 8.2% |
| Median Gross Rent | $806 | $1,038 | $1,342 |
| Rent Trend (Annual %) | 2.1% | 3.8% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Grant Parish is about 26% lower than in Louisiana. Rent is about 22% lower 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 Grant Parish, up about 30.7% and 2.1% a year respectively. Home prices are changing faster.
Median rent in Grant Parish rose about 10.7% between 2015 and 2023, from $728 to $806. Over the same span, rent in Louisiana rose about 31.9%.
Affordability
On average, housing unit costs 2.0 yearly household incomes in Grant Parish.
Buying the median-priced home in Grant Parish costs roughly 12.7 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 Grant Parish. The price-to-rent ratio in Louisiana is about 13.4.
| Metric | Grant Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Median Home Price | $123,213 | $166,764 | $242,182 |
| Median Household Income | $61,355 | $60,029 | $78,145 |
| Price-to-Income Ratio | 2.0 | 2.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Grant Parish rose about 120.5%, while median household income rose about 55.5% between 2009 and 2023 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Grant Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 65.2% | 57.3% | 58.2% |
| Rental Rate | 14.2% | 27.8% | 31.3% |
| Vacancy Rate | 20.5% | 14.8% | 10.6% |
| Median Tenure (years) | 17.0 | 16.0 | 15.0 |
| Median Year Moved In | 2009 | 2010 | 2011 |
Grant Parish has a homeownership rate of 65.2%, higher than the Louisiana average of 57.3%. Its housing vacancy rate is 20.5%, compared with 14.8% in Louisiana.
Housing Stock
| Metric | Grant Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.63 people | 2.52 people | 2.54 people |
| Median Structure Built Year | 1985 | 1982 | 1978 |
| Median Number of Rooms | 5.4 | 5.5 | 5.5 |
The typical housing unit in Grant Parish was built around 1985. On average, 2.6 people live in a home with about 5.4 rooms, staying for about 17.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Grant Parish, Louisiana.
What is the median home price in Grant Parish, Louisiana?
The median home price in Grant Parish, Louisiana is $123,213, lower than the Louisiana average of $166,764.
What is the average home price in Grant 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 Grant Parish, Louisiana?
The median gross rent in Grant Parish, Louisiana is $806 per month, lower than the Louisiana average of $1,038.
What was the median gross rent in Grant Parish in 2020?
In 2020, the median gross rent in Grant Parish, Louisiana was $718 per month.
What is the price-to-rent ratio in Grant Parish, Louisiana?
The price-to-rent ratio in Grant Parish, Louisiana is about 12.7, meaning it would take roughly 12.7 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 Grant Parish.
Are home prices or rent rising faster in Grant Parish, Louisiana?
Both home prices and rent are rising in Grant Parish, up about 30.7% and 2.1% a year respectively. Home prices are changing faster.
What is the homeownership rate in Grant Parish, Louisiana?
65.2% of households in Grant Parish, Louisiana own their home, higher than the Louisiana average of 57.3%.
What is the vacancy rate in Grant Parish, Louisiana?
The housing vacancy rate in Grant Parish, Louisiana is 20.5%, higher than the Louisiana average of 14.8%.