CALCMONEY // HOME AFFORDABILITY // LA
Find out how much home you can afford in Louisiana using local median home prices, current mortgage rates, and LA-specific property tax data.
Open Full Calculator$215,000
$1,327/mo
$197,122
$56,858/yr
| Median Home Price | $215,000 |
| Down Payment (20%) | $43,000 |
| Loan Amount | $172,000 |
| Monthly PI Payment | $1,139 |
| Monthly Property Tax | $99 |
| Monthly Insurance Est. | $90 |
| Total Monthly PITI | $1,327 |
| Required Gross Income (28% rule) | $56,858/yr |
| Max Affordable Price (28% rule) | $197,122 |
$7,525
$1,708/mo
Louisiana Home Affordability Quick Reference 2026
| Metric | Value | Notes |
|---|---|---|
| Median Home Price | $215,000 | State median |
| Down Payment (20%) | $43,000 | Conventional |
| Monthly PITI (median home) | $1,327 | 6.95% rate |
| Required Income (28% rule) | $56,858 | Annual gross |
| Max Affordable Home | $197,122 | Based on median income |
| FHA Down Payment (3.5%) | $7,525 | Minimum FHA |
Monthly PITI includes principal, interest, property tax, and homeowners insurance.
The median home price in Louisiana is $215,000, with a current 30-year fixed mortgage rate of 6.95%. A buyer putting 20% down on the median home would carry a loan of $172,000, resulting in a monthly principal and interest payment of $1,139. Once property taxes and insurance are added, total monthly housing costs reach $1,327.
Property taxes in Louisiana average 0.55%, well below the national average of 1.1%. On the median Louisiana home, property taxes add $99/month to total housing costs.
Louisiana levies a state income tax of 1.85%–4.25%, which affects take-home pay and therefore what you can realistically budget for housing. Mortgage interest may be deductible on both federal and Louisiana state returns — consult a tax professional for your situation.
Using the 28% rule, a household earning Louisiana's median income of $52,800/year can afford up to $1,232/month in total housing costs (principal, interest, taxes, and insurance). Based on Louisiana's current mortgage rate of 6.95% and property tax rate of 0.55%, that translates to a maximum affordable home price of approximately $197,122 with 20% down on a 30-year loan.
To comfortably afford the median Louisiana home priced at $215,000, you need an annual gross income of approximately $56,858. This is based on the standard 28% rule: your total monthly housing costs (principal and interest of $1,139, property taxes of $99, and insurance of $90) come to $1,327/month, which should not exceed 28% of your gross monthly income.
Louisiana's average property tax rate is 0.55%, which is well below the national average of 1.1%. On the median Louisiana home of $215,000, that means annual property taxes of $1,183, or $99/month. Because lenders include property taxes in your debt-to-income calculation, Louisiana's property taxes have a relatively modest impact on overall affordability.
The minimum down payment depends on your loan type. For an FHA loan, you can put down as little as 3.5% — on the median Louisiana home of $215,000, that is $7,525. Conventional loans typically require 5% down, though some programs allow 3%. Putting down 20% ($43,000 on the median Louisiana home) lets you avoid private mortgage insurance (PMI), which can add 0.5%–1% to your annual loan cost. There are no Louisiana-specific minimum down payment requirements beyond federal guidelines.