CALCMONEY // HOME AFFORDABILITY // LA // METAIRIE
How much house can you afford in Metairie? Based on local median home prices, current LA mortgage rates, and Metairie property tax data.
$318,000
$1,930/mo
$82,709/yr
$208,574
Monthly housing costs of $1,930 represent 39.9% of Metairie's median gross monthly income ($4,833/mo). At 39.9%, median-income buyers in Metairie are significantly stretched — well above the 28% guideline. A larger down payment or higher income is required.
| Median Home Price | $318,000 |
| Down Payment (20%) | $63,600 |
| Loan Amount | $254,400 |
| Monthly PI Payment | $1,675 |
| Monthly Property Tax | $122 |
| Monthly Insurance Est. | $133 |
| Total Monthly PITI | $1,930 |
| Housing Cost % of Income | 39.9% |
| Required Income (28% rule) | $82,709/yr |
| Max Affordable Home | $208,574 |
$11,130
$2,493/mo
Metairie Home Affordability Quick Reference 2026
| Metric | Value | Notes |
|---|---|---|
| Median Home Price | $318,000 | Metairie city median |
| Down Payment (20%) | $63,600 | Conventional loan |
| Monthly PITI | $1,930 | 6.9% rate, 30yr fixed |
| Required Income (28% rule) | $82,709 | Annual gross |
| Max Affordable Home | $208,574 | Based on median income |
| FHA Down (3.5%) | $11,130 | Minimum FHA |
| Housing Cost % of Income | 39.9% | Median income: $58,000/yr |
| Property Tax Rate | 0.46% | $1,463/yr on median home |
Monthly PITI includes principal, interest, property tax, and homeowners insurance. Estimates only.
The median home price in Metairie is $318,000, with a local 30-year mortgage rate of 6.9%. A buyer putting 20% down carries a loan of $254,400, generating a monthly P&I payment of $1,675. Adding property taxes ($122/mo) and homeowners insurance ($133/mo) brings total monthly PITI to $1,930.
Metairie's property tax rate of 0.46% 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 Metairie median home, that is $122/month, or $1,463 per year.
Louisiana levies a state income tax, which affects take-home pay and effective buying power. High-income earners in Metairie 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 Metairie's median income of $58,000/year can afford up to $1,353/month in total housing costs. Based on Metairie's mortgage rate of 6.9% and property tax rate of 0.46%, that translates to a maximum affordable home price of approximately $208,574 with 20% down on a 30-year loan.
To afford the median Metairie home priced at $318,000, you need an annual gross income of approximately $82,709. Total monthly housing costs (principal and interest of $1,675, property taxes of $122, and insurance of $133) come to $1,930/month, which equals 28% of the required income.
At the median home price of $318,000 and median household income of $58,000, the total monthly housing cost of $1,930 represents 39.9% of gross monthly income. This is well above the standard 28% threshold, making Metairie a challenging market for buyers at median income.
A conventional 20% down payment on the median Metairie home of $318,000 is $63,600. An FHA loan requires just 3.5% down — $11,130 — but adds mortgage insurance of roughly $217/month, bringing total FHA payments to $2,493/month.
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