What are average mortgage rates in Louisiana in 2026?

Mortgage rates in Louisiana generally track national averages. As of 2026, expect 30-year fixed rates from 5.5% to 7.5% for good credit borrowers. Use CalcDeck's Louisiana mortgage calculator to model your payment at current rates.

How much are closing costs in Louisiana?

Closing costs in Louisiana typically range from 2% to 5% of purchase price, including lender fees, title insurance, and prepaid items. Use CalcDeck's Louisiana mortgage calculator to include closing costs in your calculation.

What are property tax rates in Louisiana?

Property tax rates in Louisiana range from 0.3% to 2.5% of assessed value. CalcDeck's Louisiana calculator includes property tax in your PITI payment.

What first-time homebuyer programs exist in Louisiana?

Louisiana offers down payment assistance, favorable-rate mortgages, and tax credits through state agencies. Use CalcDeck's Louisiana calculator to see how programs affect your payment.

How do I use the CalcDeck Louisiana mortgage calculator?

Enter home price, down payment, interest rate, and loan term. Adjust property tax and insurance to match Louisiana averages. Get instant monthly payment, total interest, and amortization schedule.

Louisiana Mortgage Calculator

Median home prices, property taxes, and monthly payment estimates for Louisiana homeowners.

Louisiana at a Glance

Median Home Price: $218,000
Property Tax Rate: 0.53%
Median Household Income: $55,416
Annual Property Tax: $1,155

Sources: Zillow ZHVI (2024), Tax Foundation (2023), US Census ACS (2023)

Monthly Mortgage Payment in Louisiana

Based on the Louisiana median home price of $218,000 at 6.7% interest (30-year fixed):

Payment Breakdown	20% Down	5% Down
Loan Amount	$174,400	$207,100
Principal and Interest	$1,125	$1,336
Property Tax (LA)	$96	$96
Homeowners Insurance	$125	$125
PMI	$0	$86
Total Monthly	$1,347	$1,644

How Much House Can You Afford in Louisiana?

Using the 28/36 rule (housing costs under 28% of gross income):

With 20% down, you need ~$57,713/year to afford Louisiana's median home
With 5% down, you need ~$70,455/year
Louisiana's median household income is $55,416

Louisiana insight: Louisiana has a low property tax rate of 0.53% — among the lowest in the US.

Louisiana Housing Market Overview

Louisiana's housing market is recovering from pandemic highs but remains affordable. The median home price of $218,000 is well below national levels, though New Orleans ($335,000) and Baton Rouge ($245,000) command premiums. Smaller cities like Lafayette ($225,000), Shreveport ($155,000), and Monroe ($140,000) offer deep affordability. The median household income of $55,416 yields a price-to-income ratio of 3.9—manageable but income growth has lagged. The effective property tax rate of 0.53% is very low, but Louisiana has one of the highest homeowners insurance rates in the nation due to Gulf hurricane exposure. Post-Katrina and post-Ida rebuilding has raised construction costs 15–20%. Flood risk is extreme statewide—two-thirds of Louisiana parishes have FEMA flood zones.

First-Time Homebuyer Programs in Louisiana

The Louisiana Housing Corporation (LHC) administers several first-time homebuyer programs. The Delta 100 program offers 100% financing (zero down payment) with below-market rates for eligible buyers. The MRB (Mortgage Revenue Bond) program provides 30-year fixed-rate mortgages with reduced interest rates for households earning below income limits. LHC also offers the Resolutions program, providing up to $55,000 in gap financing for low-income buyers in priority parishes. The Mortgage Credit Certificate (MCC) program offers a 20% federal tax credit on mortgage interest. Local programs include New Orleans' Soft Second Mortgage program ($35,000 deferred loans) and Baton Rouge's Homebuyer Assistance Program ($15,000 grants). Income limits: Orleans Parish caps at $66,500 for a two-person household.

Tips for Homebuyers in Louisiana

1) Louisiana's 0.53% property tax is extremely low (~$96/month on a median home), but insurance can exceed $3,000/year in coastal parishes—budget accordingly. 2) Flood insurance is mandatory wisdom in Louisiana; even outside FEMA zones, get a policy—80% of Ida flooding was outside designated zones. 3) Mold and moisture concerns are real; always get a thorough inspection in homes post-Ida or post-Katrina. 4) Hurricane season (June–November) depresses sales—buy in December–February for less competition. 5) Termite infestation (Formosan subterranean) is severe in New Orleans and surrounding parishes; budget $500–$800/year for treatment. 6) Foundation issues are common due to expansive clay soils and subsidence—get a structural engineer's report if you see cracks.

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Louisiana Mortgage FAQ

What is the median home price in Louisiana?

The median home price in Louisiana is approximately $218,000 as of 2024 (Zillow ZHVI). Your actual price will vary by city and neighborhood.

What is the property tax rate in Louisiana?

The effective property tax rate in Louisiana is approximately 0.53% (Tax Foundation). On a $218,000 home, that is about $1,155/year in property taxes.

How much income do I need to buy a home in Louisiana?

Using the 28/36 rule with 20% down at 6.7%, you would need about $57,713/year to afford the median Louisiana home at $218,000. With 5% down (including PMI), about $70,455.

What will my monthly mortgage payment be in Louisiana?

On Louisiana's median home price of $218,000 with 20% down at 6.7%, your total monthly payment (P and I plus tax plus insurance) is approximately $1,347. With 5% down including PMI, about $1,644.

Data sources: Zillow ZHVI typical home values (2024), Tax Foundation effective property tax rates (2023), US Census Bureau ACS median household income (2023). Mortgage rate assumption: 6.7% APR 30-year fixed. This is an estimate — use our calculator for personalized numbers.