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 | Jefferson Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Median Home Price | $258,357 | $166,764 | $242,182 |
| Price Trend (Annual %) | 8.1% | 4.5% | 8.2% |
| Median Gross Rent | $1,161 | $1,038 | $1,342 |
| Rent Trend (Annual %) | 3.5% | 3.8% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Jefferson Parish is about 55% higher than in Louisiana. Rent is about 12% 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 Jefferson Parish, up about 8.1% and 3.5% a year respectively. Home prices are changing faster.
Median rent in Jefferson Parish rose about 29.0% between 2015 and 2023, from $900 to $1,161. Over the same span, rent in Louisiana rose about 31.9%.
Affordability
On average, housing unit costs 3.9 yearly household incomes in Jefferson Parish.
Buying the median-priced home in Jefferson Parish costs roughly 18.5 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Jefferson Parish. The price-to-rent ratio in Louisiana is about 13.4.
| Metric | Jefferson Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Median Home Price | $258,357 | $166,764 | $242,182 |
| Median Household Income | $65,454 | $60,029 | $78,145 |
| Price-to-Income Ratio | 3.9 | 2.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Jefferson Parish rose about 68.5%, while median household income rose about 33.6% 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 | Jefferson Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 56.8% | 57.3% | 58.2% |
| Rental Rate | 34.4% | 27.8% | 31.3% |
| Vacancy Rate | 8.8% | 14.8% | 10.6% |
| Median Tenure (years) | 17.0 | 16.0 | 15.0 |
| Median Year Moved In | 2009 | 2010 | 2011 |
Jefferson Parish has a homeownership rate of 56.8%, lower than the Louisiana average of 57.3%. Its housing vacancy rate is 8.8%, compared with 14.8% in Louisiana.
Housing Stock
| Metric | Jefferson Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.42 people | 2.52 people | 2.54 people |
| Median Structure Built Year | 1969 | 1982 | 1978 |
| Median Number of Rooms | 5.5 | 5.5 | 5.5 |
The typical housing unit in Jefferson Parish was built around 1969. On average, 2.4 people live in a home with about 5.5 rooms, staying for about 17.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Jefferson Parish, Louisiana.
What is the median home price in Jefferson Parish, Louisiana?
The median home price in Jefferson Parish, Louisiana is $258,357, higher than the Louisiana average of $166,764.
What is the average home price in Jefferson 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 Jefferson Parish, Louisiana?
The median gross rent in Jefferson Parish, Louisiana is $1,161 per month, higher than the Louisiana average of $1,038.
What was the median gross rent in Jefferson Parish in 2020?
In 2020, the median gross rent in Jefferson Parish, Louisiana was $985 per month.
What is the price-to-rent ratio in Jefferson Parish, Louisiana?
The price-to-rent ratio in Jefferson Parish, Louisiana is about 18.5, meaning it would take roughly 18.5 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Jefferson Parish.
Are home prices or rent rising faster in Jefferson Parish, Louisiana?
Both home prices and rent are rising in Jefferson Parish, up about 8.1% and 3.5% a year respectively. Home prices are changing faster.
What is the homeownership rate in Jefferson Parish, Louisiana?
56.8% of households in Jefferson Parish, Louisiana own their home, lower than the Louisiana average of 57.3%.
What is the vacancy rate in Jefferson Parish, Louisiana?
The housing vacancy rate in Jefferson Parish, Louisiana is 8.8%, lower than the Louisiana average of 14.8%.