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 | Washington Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Median Home Price | $200,000 | $166,764 | $242,182 |
| Price Trend (Annual %) | 107.3% | 4.5% | 8.2% |
| Median Gross Rent | $771 | $1,038 | $1,342 |
| Rent Trend (Annual %) | 4.2% | 3.8% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Washington Parish is about 20% higher than in Louisiana. Rent is about 26% 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 Washington Parish, up about 107.3% and 4.2% a year respectively. Home prices are changing faster.
Median rent in Washington Parish rose about 35.2% between 2015 and 2023, from $571 to $771. Over the same span, rent in Louisiana rose about 31.9%.
Affordability
On average, housing unit costs 4.7 yearly household incomes in Washington Parish.
Buying the median-priced home in Washington Parish costs roughly 21.6 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 Washington Parish. The price-to-rent ratio in Louisiana is about 13.4.
| Metric | Washington Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Median Home Price | $200,000 | $166,764 | $242,182 |
| Median Household Income | $42,974 | $60,029 | $78,145 |
| Price-to-Income Ratio | 4.7 | 2.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Washington Parish rose about 395.6%, while median household income rose about 41.3% 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 | Washington Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 57.2% | 57.3% | 58.2% |
| Rental Rate | 25.2% | 27.8% | 31.3% |
| Vacancy Rate | 17.6% | 14.8% | 10.6% |
| Median Tenure (years) | 17.0 | 16.0 | 15.0 |
| Median Year Moved In | 2009 | 2010 | 2011 |
Washington Parish has a homeownership rate of 57.2%, about the same as the Louisiana average of 57.3%. Its housing vacancy rate is 17.6%, compared with 14.8% in Louisiana.
Housing Stock
| Metric | Washington Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.46 people | 2.52 people | 2.54 people |
| Median Structure Built Year | 1985 | 1982 | 1978 |
| Median Number of Rooms | 5.5 | 5.5 | 5.5 |
The typical housing unit in Washington Parish was built around 1985. On average, 2.5 people live in a home with about 5.5 rooms, staying for about 17.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Washington Parish, Louisiana.
What is the median home price in Washington Parish, Louisiana?
The median home price in Washington Parish, Louisiana is $200,000, higher than the Louisiana average of $166,764.
What is the average home price in Washington 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 Washington Parish, Louisiana?
The median gross rent in Washington Parish, Louisiana is $771 per month, lower than the Louisiana average of $1,038.
What was the median gross rent in Washington Parish in 2020?
In 2020, the median gross rent in Washington Parish, Louisiana was $647 per month.
What is the price-to-rent ratio in Washington Parish, Louisiana?
The price-to-rent ratio in Washington Parish, Louisiana is about 21.6, meaning it would take roughly 21.6 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 Washington Parish.
Are home prices or rent rising faster in Washington Parish, Louisiana?
Both home prices and rent are rising in Washington Parish, up about 107.3% and 4.2% a year respectively. Home prices are changing faster.
What is the homeownership rate in Washington Parish, Louisiana?
57.2% of households in Washington Parish, Louisiana own their home, about the same as the Louisiana average.
What is the vacancy rate in Washington Parish, Louisiana?
The housing vacancy rate in Washington Parish, Louisiana is 17.6%, higher than the Louisiana average of 14.8%.