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. Mary Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Median Home Price | $177,419 | $166,764 | $242,182 |
| Price Trend (Annual %) | 5.1% | 4.5% | 8.2% |
| Median Gross Rent | $839 | $1,038 | $1,342 |
| Rent Trend (Annual %) | 2.9% | 3.8% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in St. Mary Parish is about 6% higher 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 St. Mary Parish, up about 5.1% and 2.9% a year respectively. Home prices are changing faster.
Median rent in St. Mary Parish rose about 24.6% between 2015 and 2023, from $673 to $839. Over the same span, rent in Louisiana rose about 31.9%.
Affordability
On average, housing unit costs 3.4 yearly household incomes in St. Mary Parish.
Buying the median-priced home in St. Mary Parish costs roughly 17.6 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 St. Mary Parish. The price-to-rent ratio in Louisiana is about 13.4.
| Metric | St. Mary Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Median Home Price | $177,419 | $166,764 | $242,182 |
| Median Household Income | $52,129 | $60,029 | $78,145 |
| Price-to-Income Ratio | 3.4 | 2.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in St. Mary Parish rose about 25.5%, while median household income rose about 35.5% 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. Mary Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 58.0% | 57.3% | 58.2% |
| Rental Rate | 25.1% | 27.8% | 31.3% |
| Vacancy Rate | 16.9% | 14.8% | 10.6% |
| Median Tenure (years) | 19.0 | 16.0 | 15.0 |
| Median Year Moved In | 2007 | 2010 | 2011 |
St. Mary Parish has a homeownership rate of 58.0%, higher than the Louisiana average of 57.3%. Its housing vacancy rate is 16.9%, compared with 14.8% in Louisiana.
Housing Stock
| Metric | St. Mary Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.55 people | 2.52 people | 2.54 people |
| Median Structure Built Year | 1976 | 1982 | 1978 |
| Median Number of Rooms | 5.3 | 5.5 | 5.5 |
The typical housing unit in St. Mary Parish was built around 1976. 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. Mary Parish, Louisiana.
What is the median home price in St. Mary Parish, Louisiana?
The median home price in St. Mary Parish, Louisiana is $177,419, higher than the Louisiana average of $166,764.
What is the average home price in St. Mary 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. Mary Parish, Louisiana?
The median gross rent in St. Mary Parish, Louisiana is $839 per month, lower than the Louisiana average of $1,038.
What was the median gross rent in St. Mary Parish in 2020?
In 2020, the median gross rent in St. Mary Parish, Louisiana was $783 per month.
What is the price-to-rent ratio in St. Mary Parish, Louisiana?
The price-to-rent ratio in St. Mary Parish, Louisiana is about 17.6, meaning it would take roughly 17.6 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 St. Mary Parish.
Are home prices or rent rising faster in St. Mary Parish, Louisiana?
Both home prices and rent are rising in St. Mary Parish, up about 5.1% and 2.9% a year respectively. Home prices are changing faster.
What is the homeownership rate in St. Mary Parish, Louisiana?
58.0% of households in St. Mary Parish, Louisiana own their home, higher than the Louisiana average of 57.3%.
What is the vacancy rate in St. Mary Parish, Louisiana?
The housing vacancy rate in St. Mary Parish, Louisiana is 16.9%, higher than the Louisiana average of 14.8%.