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 | Tangipahoa Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Median Home Price | $308,962 | $166,764 | $242,182 |
| Price Trend (Annual %) | 19.7% | 4.5% | 8.2% |
| Median Gross Rent | $973 | $1,038 | $1,342 |
| Rent Trend (Annual %) | 3.7% | 3.8% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Tangipahoa Parish is about 85% higher than in Louisiana. Rent is about 6% 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 Tangipahoa Parish, up about 19.7% and 3.7% a year respectively. Home prices are changing faster.
Median rent in Tangipahoa Parish rose about 29.4% between 2015 and 2023, from $752 to $973. Over the same span, rent in Louisiana rose about 31.9%.
Affordability
On average, housing unit costs 5.4 yearly household incomes in Tangipahoa Parish.
Buying the median-priced home in Tangipahoa Parish costs roughly 26.5 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Tangipahoa Parish. The price-to-rent ratio in Louisiana is about 13.4.
| Metric | Tangipahoa Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Median Home Price | $308,962 | $166,764 | $242,182 |
| Median Household Income | $57,645 | $60,029 | $78,145 |
| Price-to-Income Ratio | 5.4 | 2.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Tangipahoa Parish rose about 176.9%, while median household income rose about 50.9% 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 | Tangipahoa Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 61.2% | 57.3% | 58.2% |
| Rental Rate | 24.4% | 27.8% | 31.3% |
| Vacancy Rate | 14.4% | 14.8% | 10.6% |
| Median Tenure (years) | 15.0 | 16.0 | 15.0 |
| Median Year Moved In | 2011 | 2010 | 2011 |
Tangipahoa Parish has a homeownership rate of 61.2%, higher than the Louisiana average of 57.3%. Its housing vacancy rate is 14.4%, compared with 14.8% in Louisiana.
Housing Stock
| Metric | Tangipahoa Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.61 people | 2.52 people | 2.54 people |
| Median Structure Built Year | 1993 | 1982 | 1978 |
| Median Number of Rooms | 5.4 | 5.5 | 5.5 |
The typical housing unit in Tangipahoa Parish was built around 1993. On average, 2.6 people live in a home with about 5.4 rooms, staying for about 15.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Tangipahoa Parish, Louisiana.
What is the median home price in Tangipahoa Parish, Louisiana?
The median home price in Tangipahoa Parish, Louisiana is $308,962, higher than the Louisiana average of $166,764.
What is the average home price in Tangipahoa 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 Tangipahoa Parish, Louisiana?
The median gross rent in Tangipahoa Parish, Louisiana is $973 per month, lower than the Louisiana average of $1,038.
What was the median gross rent in Tangipahoa Parish in 2020?
In 2020, the median gross rent in Tangipahoa Parish, Louisiana was $827 per month.
What is the price-to-rent ratio in Tangipahoa Parish, Louisiana?
The price-to-rent ratio in Tangipahoa Parish, Louisiana is about 26.5, meaning it would take roughly 26.5 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Tangipahoa Parish.
Are home prices or rent rising faster in Tangipahoa Parish, Louisiana?
Both home prices and rent are rising in Tangipahoa Parish, up about 19.7% and 3.7% a year respectively. Home prices are changing faster.
What is the homeownership rate in Tangipahoa Parish, Louisiana?
61.2% of households in Tangipahoa Parish, Louisiana own their home, higher than the Louisiana average of 57.3%.
What is the vacancy rate in Tangipahoa Parish, Louisiana?
The housing vacancy rate in Tangipahoa Parish, Louisiana is 14.4%, lower than the Louisiana average of 14.8%.