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 | St. Martin Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Median Home Price | $64,714 | $166,764 | $242,182 |
| Price Trend (Annual %) | 10.0% | 4.5% | 8.2% |
| Median Gross Rent | $864 | $1,038 | $1,342 |
| Rent Trend (Annual %) | 4.4% | 3.8% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in St. Martin Parish is about 61% lower than in Louisiana. Rent is about 17% 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 St. Martin Parish, up about 10.0% and 4.4% a year respectively. Home prices are changing faster.
Median rent in St. Martin Parish rose about 31.8% between 2015 and 2023, from $656 to $864. Over the same span, rent in Louisiana rose about 31.9%.
Affordability
On average, housing unit costs 1.2 yearly household incomes in St. Martin Parish.
Buying the median-priced home in St. Martin Parish costs roughly 6.2 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 St. Martin Parish. The price-to-rent ratio in Louisiana is about 13.4.
| Metric | St. Martin Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Median Home Price | $64,714 | $166,764 | $242,182 |
| Median Household Income | $53,735 | $60,029 | $78,145 |
| Price-to-Income Ratio | 1.2 | 2.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in St. Martin Parish fell about 4.5%, while median household income rose about 36.8% 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 | St. Martin Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 66.4% | 57.3% | 58.2% |
| Rental Rate | 17.8% | 27.8% | 31.3% |
| Vacancy Rate | 15.8% | 14.8% | 10.6% |
| Median Tenure (years) | 19.0 | 16.0 | 15.0 |
| Median Year Moved In | 2007 | 2010 | 2011 |
St. Martin Parish has a homeownership rate of 66.4%, higher than the Louisiana average of 57.3%. Its housing vacancy rate is 15.8%, compared with 14.8% in Louisiana.
Housing Stock
| Metric | St. Martin Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.57 people | 2.52 people | 2.54 people |
| Median Structure Built Year | 1987 | 1982 | 1978 |
| Median Number of Rooms | 5.3 | 5.5 | 5.5 |
The typical housing unit in St. Martin Parish was built around 1987. On average, 2.6 people live in a home with about 5.3 rooms, staying for about 19.0 years on average.
Frequently Asked Questions
Common questions about the housing market in St. Martin Parish, Louisiana.
What is the median home price in St. Martin Parish, Louisiana?
The median home price in St. Martin Parish, Louisiana is $64,714, lower than the Louisiana average of $166,764.
What is the average home price in St. Martin 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 St. Martin Parish, Louisiana?
The median gross rent in St. Martin Parish, Louisiana is $864 per month, lower than the Louisiana average of $1,038.
What was the median gross rent in St. Martin Parish in 2020?
In 2020, the median gross rent in St. Martin Parish, Louisiana was $685 per month.
What is the price-to-rent ratio in St. Martin Parish, Louisiana?
The price-to-rent ratio in St. Martin Parish, Louisiana is about 6.2, meaning it would take roughly 6.2 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 St. Martin Parish.
Are home prices or rent rising faster in St. Martin Parish, Louisiana?
Both home prices and rent are rising in St. Martin Parish, up about 10.0% and 4.4% a year respectively. Home prices are changing faster.
What is the homeownership rate in St. Martin Parish, Louisiana?
66.4% of households in St. Martin Parish, Louisiana own their home, higher than the Louisiana average of 57.3%.
What is the vacancy rate in St. Martin Parish, Louisiana?
The housing vacancy rate in St. Martin Parish, Louisiana is 15.8%, higher than the Louisiana average of 14.8%.