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 | Lafourche Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Median Home Price | $256,330 | $166,764 | $242,182 |
| Price Trend (Annual %) | 8.0% | 4.5% | 8.2% |
| Median Gross Rent | $933 | $1,038 | $1,342 |
| Rent Trend (Annual %) | 3.5% | 3.8% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Lafourche Parish is about 54% higher than in Louisiana. Rent is about 10% 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 Lafourche Parish, up about 8.0% and 3.5% a year respectively. Home prices are changing faster.
Median rent in Lafourche Parish rose about 29.7% between 2015 and 2023, from $719 to $933. Over the same span, rent in Louisiana rose about 31.9%.
Affordability
On average, housing unit costs 4.1 yearly household incomes in Lafourche Parish.
Buying the median-priced home in Lafourche Parish costs roughly 22.9 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Lafourche Parish. The price-to-rent ratio in Louisiana is about 13.4.
| Metric | Lafourche Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Median Home Price | $256,330 | $166,764 | $242,182 |
| Median Household Income | $63,085 | $60,029 | $78,145 |
| Price-to-Income Ratio | 4.1 | 2.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Lafourche Parish rose about 53.8%, while median household income rose about 36.6% 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 | Lafourche Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 71.1% | 57.3% | 58.2% |
| Rental Rate | 19.7% | 27.8% | 31.3% |
| Vacancy Rate | 9.2% | 14.8% | 10.6% |
| Median Tenure (years) | 19.0 | 16.0 | 15.0 |
| Median Year Moved In | 2007 | 2010 | 2011 |
Lafourche Parish has a homeownership rate of 71.1%, higher than the Louisiana average of 57.3%. Its housing vacancy rate is 9.2%, compared with 14.8% in Louisiana.
Housing Stock
| Metric | Lafourche Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.51 people | 2.52 people | 2.54 people |
| Median Structure Built Year | 1981 | 1982 | 1978 |
| Median Number of Rooms | 5.6 | 5.5 | 5.5 |
The typical housing unit in Lafourche Parish was built around 1981. On average, 2.5 people live in a home with about 5.6 rooms, staying for about 19.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Lafourche Parish, Louisiana.
What is the median home price in Lafourche Parish, Louisiana?
The median home price in Lafourche Parish, Louisiana is $256,330, higher than the Louisiana average of $166,764.
What is the average home price in Lafourche 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 Lafourche Parish, Louisiana?
The median gross rent in Lafourche Parish, Louisiana is $933 per month, lower than the Louisiana average of $1,038.
What was the median gross rent in Lafourche Parish in 2020?
In 2020, the median gross rent in Lafourche Parish, Louisiana was $819 per month.
What is the price-to-rent ratio in Lafourche Parish, Louisiana?
The price-to-rent ratio in Lafourche Parish, Louisiana is about 22.9, meaning it would take roughly 22.9 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Lafourche Parish.
Are home prices or rent rising faster in Lafourche Parish, Louisiana?
Both home prices and rent are rising in Lafourche Parish, up about 8.0% and 3.5% a year respectively. Home prices are changing faster.
What is the homeownership rate in Lafourche Parish, Louisiana?
71.1% of households in Lafourche Parish, Louisiana own their home, higher than the Louisiana average of 57.3%.
What is the vacancy rate in Lafourche Parish, Louisiana?
The housing vacancy rate in Lafourche Parish, Louisiana is 9.2%, lower than the Louisiana average of 14.8%.