CALCMONEY // HOME AFFORDABILITY // LA // LAKE CHARLES
How much house can you afford in Lake Charles? Based on local median home prices, current LA mortgage rates, and Lake Charles property tax data.
$185,000
$1,126/mo
$48,263/yr
$201,465
Monthly housing costs of $1,126 represent 26.0% of Lake Charles's median gross monthly income ($4,333/mo). At 26.0%, Lake Charles falls within the standard 28% affordability threshold at current median income levels.
| Median Home Price | $185,000 |
| Down Payment (20%) | $37,000 |
| Loan Amount | $148,000 |
| Monthly PI Payment | $980 |
| Monthly Property Tax | $69 |
| Monthly Insurance Est. | $77 |
| Total Monthly PITI | $1,126 |
| Housing Cost % of Income | 26.0% |
| Required Income (28% rule) | $48,263/yr |
| Max Affordable Home | $201,465 |
$6,475
$1,455/mo
Lake Charles Home Affordability Quick Reference 2026
| Metric | Value | Notes |
|---|---|---|
| Median Home Price | $185,000 | Lake Charles city median |
| Down Payment (20%) | $37,000 | Conventional loan |
| Monthly PITI | $1,126 | 6.95% rate, 30yr fixed |
| Required Income (28% rule) | $48,263 | Annual gross |
| Max Affordable Home | $201,465 | Based on median income |
| FHA Down (3.5%) | $6,475 | Minimum FHA |
| Housing Cost % of Income | 26.0% | Median income: $52,000/yr |
| Property Tax Rate | 0.45% | $833/yr on median home |
Monthly PITI includes principal, interest, property tax, and homeowners insurance. Estimates only.
The median home price in Lake Charles is $185,000, with a local 30-year mortgage rate of 6.95%. A buyer putting 20% down carries a loan of $148,000, generating a monthly P&I payment of $980. Adding property taxes ($69/mo) and homeowners insurance ($77/mo) brings total monthly PITI to $1,126.
Lake Charles's property tax rate of 0.45% is among the lower rates in the country, which improves overall affordability by keeping total PITI closer to the principal and interest payment alone. On the Lake Charles median home, that is $69/month, or $833 per year.
Louisiana levies a state income tax, which affects take-home pay and effective buying power. High-income earners in Lake Charles should factor state tax liability into their overall housing budget — mortgage interest may be deductible on both federal and state returns.
Using the 28% rule, a household earning Lake Charles's median income of $52,000/year can afford up to $1,213/month in total housing costs. Based on Lake Charles's mortgage rate of 6.95% and property tax rate of 0.45%, that translates to a maximum affordable home price of approximately $201,465 with 20% down on a 30-year loan.
To afford the median Lake Charles home priced at $185,000, you need an annual gross income of approximately $48,263. Total monthly housing costs (principal and interest of $980, property taxes of $69, and insurance of $77) come to $1,126/month, which equals 28% of the required income.
At the median home price of $185,000 and median household income of $52,000, the total monthly housing cost of $1,126 represents 26.0% of gross monthly income. This is within the standard 28% guideline, making Lake Charles relatively accessible at current income levels.
A conventional 20% down payment on the median Lake Charles home of $185,000 is $37,000. An FHA loan requires just 3.5% down — $6,475 — but adds mortgage insurance of roughly $126/month, bringing total FHA payments to $1,455/month.
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