Louisiana Housing Market Prices
Louisiana Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 32% below the US median$170,446
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Median rent 24% below the US median Cheaper than 71% of states in US$1,063
Median Home Price Map: Counties in Louisiana
Housing Market Overview
| Metric | Louisiana | US Average |
|---|---|---|
| Median Home Price | $170,446 | $248,835 |
| Price Trend (Annual %) | 4.3% | 7.5% |
| Median Gross Rent | $1,063 | $1,407 |
| Rent Trend (Annual %) | 3.7% | 5.1% |
| Household Income Trend (Annual %) | — | — |
The median home price in Louisiana is about 32% lower than in US. Rent is about 24% lower than the US average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Louisiana, up about 4.3% and 3.7% a year respectively. Home prices are changing faster.
Median rent in Louisiana rose about 35.1% between 2015 and 2024, from $787 to $1,063. Over the same span, rent in US rose about 52.1%.
Affordability
On average, housing unit costs 2.8 yearly household incomes in Louisiana.
Buying the median-priced home in Louisiana costs roughly 13.4 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 Louisiana. The price-to-rent ratio in US is about 14.7.
| Metric | Louisiana | US Average |
|---|---|---|
| Median Home Price | $170,446 | $248,835 |
| Median Household Income | $60,934 | $80,455 |
| Price-to-Income Ratio | 2.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Louisiana rose about 38.8%, while median household income rose about 40.9% between 2009 and 2025 — 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 | Louisiana | US Average |
|---|---|---|
| Homeownership Rate | 57.7% | 58.5% |
| Rental Rate | 27.9% | 31.2% |
| Vacancy Rate | 14.4% | 10.2% |
| Median Tenure (years) | 16.0 | 15.0 |
| Median Year Moved In | 2010 | 2011 |
Louisiana has a homeownership rate of 57.7%, lower than the US average of 58.5%. Its housing vacancy rate is 14.4%, compared with 10.2% in US.
Housing Stock
| Metric | Louisiana | US Average |
|---|---|---|
| Average Household Size | 2.49 people | 2.53 people |
| Median Structure Built Year | 1983 | 1978 |
| Median Number of Rooms | 5.5 | 5.5 |
The typical housing unit in Louisiana was built around 1983. On average, 2.5 people live in a home with about 5.5 rooms, staying for about 16.0 years on average.
Louisiana Housing Compared With Nearby States
Louisiana is typical in size for this group, 4,610,276 residents against a local median of 4,028,385, so the measures below are close to a like for like comparison. The measure that sets Louisiana apart most is median home price: $170,446, 28% above the local median of $133,462.
The states themselves spread $143,829 on median home price, so Louisiana sits at one end of an already wide local range rather than apart from it. Louisiana has the 2nd highest median home price of the 6 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Louisiana | 4,610,276 | $170,446 #2/6 | $1,063 #2/6 | 67.4% #3/6 |
| Mississippi | 2,946,497 | $130,069 | $954 | 70.0% |
| Arkansas | 3,049,066 | $111,957 | $947 | 66.4% |
| Alabama | 5,083,438 | $160,474 | $1,007 | 70.2% |
| Oklahoma | 4,028,385 | $133,462 | $1,014 | 65.8% |
| Tennessee | 7,058,506 | $255,786 | $1,188 | 66.9% |
Frequently Asked Questions
Common questions about the housing market in Louisiana.
What is the median home price in Louisiana?
The median home price in Louisiana is $170,446, lower than the US average of $248,835.
What is the average home price in Louisiana?
The typical home price in Louisiana, reported as the median sale price, is $170,446. 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 Louisiana?
The median gross rent in Louisiana is $1,063 per month, lower than the US average of $1,407.
What was the median gross rent in Louisiana in 2020?
In 2020, the median gross rent in Louisiana was $876 per month.
What is the price-to-rent ratio in Louisiana?
The price-to-rent ratio in Louisiana is about 13.4, meaning it would take roughly 13.4 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 Louisiana.
Are home prices or rent rising faster in Louisiana?
Both home prices and rent are rising in Louisiana, up about 4.3% and 3.7% a year respectively. Home prices are changing faster.
What is the homeownership rate in Louisiana?
57.7% of households in Louisiana own their home, lower than the US average of 58.5%.
What is the vacancy rate in Louisiana?
The housing vacancy rate in Louisiana is 14.4%, higher than the US average of 10.2%.
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