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 | Richland Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Median Home Price | $85,441 | $166,764 | $242,182 |
| Price Trend (Annual %) | 2.1% | 4.5% | 8.2% |
| Median Gross Rent | $836 | $1,038 | $1,342 |
| Rent Trend (Annual %) | 6.6% | 3.8% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Richland Parish is about 49% lower than in Louisiana. Rent is about 19% 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 Richland Parish, up about 2.1% and 6.6% a year respectively. Rent is changing faster.
Median rent in Richland Parish rose about 57.6% between 2015 and 2023, from $530 to $836. Over the same span, rent in Louisiana rose about 31.9%.
Affordability
On average, housing unit costs 1.6 yearly household incomes in Richland Parish.
Buying the median-priced home in Richland Parish costs roughly 8.5 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 Richland Parish. The price-to-rent ratio in Louisiana is about 13.4.
| Metric | Richland Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Median Home Price | $85,441 | $166,764 | $242,182 |
| Median Household Income | $53,356 | $60,029 | $78,145 |
| Price-to-Income Ratio | 1.6 | 2.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Richland Parish fell about 58.6%, while median household income rose about 49.8% between 2009 and 2023 — 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 | Richland Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 55.9% | 57.3% | 58.2% |
| Rental Rate | 27.5% | 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 |
Richland Parish has a homeownership rate of 55.9%, lower than the Louisiana average of 57.3%. Its housing vacancy rate is 16.6%, compared with 14.8% in Louisiana.
Housing Stock
| Metric | Richland Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.59 people | 2.52 people | 2.54 people |
| Median Structure Built Year | 1982 | 1982 | 1978 |
| Median Number of Rooms | 5.7 | 5.5 | 5.5 |
The typical housing unit in Richland Parish was built around 1982. On average, 2.6 people live in a home with about 5.7 rooms, staying for about 17.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Richland Parish, Louisiana.
What is the median home price in Richland Parish, Louisiana?
The median home price in Richland Parish, Louisiana is $85,441, lower than the Louisiana average of $166,764.
What is the average home price in Richland 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 Richland Parish, Louisiana?
The median gross rent in Richland Parish, Louisiana is $836 per month, lower than the Louisiana average of $1,038.
What was the median gross rent in Richland Parish in 2020?
In 2020, the median gross rent in Richland Parish, Louisiana was $644 per month.
What is the price-to-rent ratio in Richland Parish, Louisiana?
The price-to-rent ratio in Richland Parish, Louisiana is about 8.5, meaning it would take roughly 8.5 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 Richland Parish.
Are home prices or rent rising faster in Richland Parish, Louisiana?
Both home prices and rent are rising in Richland Parish, up about 2.1% and 6.6% a year respectively. Rent is changing faster.
What is the homeownership rate in Richland Parish, Louisiana?
55.9% of households in Richland Parish, Louisiana own their home, lower than the Louisiana average of 57.3%.
What is the vacancy rate in Richland Parish, Louisiana?
The housing vacancy rate in Richland Parish, Louisiana is 16.6%, higher than the Louisiana average of 14.8%.