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 | Morehouse Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Median Home Price | $151,250 | $166,764 | $242,182 |
| Price Trend (Annual %) | 26.5% | 4.5% | 8.2% |
| Median Gross Rent | $794 | $1,038 | $1,342 |
| Rent Trend (Annual %) | 5.3% | 3.8% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Morehouse Parish is about 9% lower than in Louisiana. Rent is about 24% 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 Morehouse Parish, up about 26.5% and 5.3% a year respectively. Home prices are changing faster.
Median rent in Morehouse Parish rose about 41.6% between 2015 and 2023, from $561 to $794. Over the same span, rent in Louisiana rose about 31.9%.
Affordability
On average, housing unit costs 4.1 yearly household incomes in Morehouse Parish.
Buying the median-priced home in Morehouse Parish costs roughly 15.9 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 Morehouse Parish. The price-to-rent ratio in Louisiana is about 13.4.
| Metric | Morehouse Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Median Home Price | $151,250 | $166,764 | $242,182 |
| Median Household Income | $37,096 | $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 Morehouse Parish rose about 179.0%, while median household income rose about 18.1% 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 | Morehouse Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 54.8% | 57.3% | 58.2% |
| Rental Rate | 27.4% | 27.8% | 31.3% |
| Vacancy Rate | 17.8% | 14.8% | 10.6% |
| Median Tenure (years) | 16.0 | 16.0 | 15.0 |
| Median Year Moved In | 2010 | 2010 | 2011 |
Morehouse Parish has a homeownership rate of 54.8%, lower than the Louisiana average of 57.3%. Its housing vacancy rate is 17.8%, compared with 14.8% in Louisiana.
Housing Stock
| Metric | Morehouse Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.47 people | 2.52 people | 2.54 people |
| Median Structure Built Year | 1979 | 1982 | 1978 |
| Median Number of Rooms | 5.7 | 5.5 | 5.5 |
The typical housing unit in Morehouse Parish was built around 1979. On average, 2.5 people live in a home with about 5.7 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Morehouse Parish, Louisiana.
What is the median home price in Morehouse Parish, Louisiana?
The median home price in Morehouse Parish, Louisiana is $151,250, lower than the Louisiana average of $166,764.
What is the average home price in Morehouse 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 Morehouse Parish, Louisiana?
The median gross rent in Morehouse Parish, Louisiana is $794 per month, lower than the Louisiana average of $1,038.
What was the median gross rent in Morehouse Parish in 2020?
In 2020, the median gross rent in Morehouse Parish, Louisiana was $564 per month.
What is the price-to-rent ratio in Morehouse Parish, Louisiana?
The price-to-rent ratio in Morehouse Parish, Louisiana is about 15.9, meaning it would take roughly 15.9 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 Morehouse Parish.
Are home prices or rent rising faster in Morehouse Parish, Louisiana?
Both home prices and rent are rising in Morehouse Parish, up about 26.5% and 5.3% a year respectively. Home prices are changing faster.
What is the homeownership rate in Morehouse Parish, Louisiana?
54.8% of households in Morehouse Parish, Louisiana own their home, lower than the Louisiana average of 57.3%.
What is the vacancy rate in Morehouse Parish, Louisiana?
The housing vacancy rate in Morehouse Parish, Louisiana is 17.8%, higher than the Louisiana average of 14.8%.