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 | Red River Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Median Home Price | $90,000 | $166,764 | $242,182 |
| Price Trend (Annual %) | -1.5% | 4.5% | 8.2% |
| Median Gross Rent | $731 | $1,038 | $1,342 |
| Rent Trend (Annual %) | 5.5% | 3.8% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Red River Parish is about 46% lower than in Louisiana. Rent is about 30% lower than the Louisiana average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Home prices and rent are moving in opposite directions in Red River Parish: home prices fell about 1.5% a year while rent rose about 5.5% a year. That is an unusual pattern worth watching.
Median rent in Red River Parish rose about 28.0% between 2015 and 2023, from $571 to $731. Over the same span, rent in Louisiana rose about 31.9%.
Affordability
On average, housing unit costs 2.0 yearly household incomes in Red River Parish.
Buying the median-priced home in Red River Parish costs roughly 10.3 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 Red River Parish. The price-to-rent ratio in Louisiana is about 13.4.
| Metric | Red River Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Median Home Price | $90,000 | $166,764 | $242,182 |
| Median Household Income | $44,599 | $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 Red River Parish rose about 53.4%, while median household income rose about 38.5% 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 | Red River Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 64.0% | 57.3% | 58.2% |
| Rental Rate | 19.4% | 27.8% | 31.3% |
| Vacancy Rate | 16.6% | 14.8% | 10.6% |
| Median Tenure (years) | 17.0 | 16.0 | 15.0 |
| Median Year Moved In | 2009 | 2010 | 2011 |
Red River Parish has a homeownership rate of 64.0%, higher than the Louisiana average of 57.3%. Its housing vacancy rate is 16.6%, compared with 14.8% in Louisiana.
Housing Stock
| Metric | Red River Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.44 people | 2.52 people | 2.54 people |
| Median Structure Built Year | 1988 | 1982 | 1978 |
| Median Number of Rooms | 5.2 | 5.5 | 5.5 |
The typical housing unit in Red River Parish was built around 1988. On average, 2.4 people live in a home with about 5.2 rooms, staying for about 17.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Red River Parish, Louisiana.
What is the median home price in Red River Parish, Louisiana?
The median home price in Red River Parish, Louisiana is $90,000, lower than the Louisiana average of $166,764.
What is the average home price in Red River 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 Red River Parish, Louisiana?
The median gross rent in Red River Parish, Louisiana is $731 per month, lower than the Louisiana average of $1,038.
What was the median gross rent in Red River Parish in 2020?
In 2020, the median gross rent in Red River Parish, Louisiana was $521 per month.
What is the price-to-rent ratio in Red River Parish, Louisiana?
The price-to-rent ratio in Red River Parish, Louisiana is about 10.3, meaning it would take roughly 10.3 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 Red River Parish.
Are home prices or rent rising faster in Red River Parish, Louisiana?
Home prices and rent are moving in opposite directions in Red River Parish: home prices fell about 1.5% a year while rent rose about 5.5% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Red River Parish, Louisiana?
64.0% of households in Red River Parish, Louisiana own their home, higher than the Louisiana average of 57.3%.
What is the vacancy rate in Red River Parish, Louisiana?
The housing vacancy rate in Red River Parish, Louisiana is 16.6%, higher than the Louisiana average of 14.8%.