Louisiana variant. This is a Louisiana-specific version of the Home Affordability Calculator, using pre-defined local figures (tax rates, median home and income values, and typical regional costs). For the full formula, methodology, and FAQ, open the main Home Affordability Calculator.
How much house you can afford in Louisiana hinges on the $57,852 median income, 0.55% property tax, and current rates. The 28/36 rule turns income into a realistic price ceiling.
Affordability math for Louisiana
Lenders typically cap housing costs at 28% of gross income. On Louisiana's $57,852 median income, that's about $1,350/month for principal, interest, taxes, and insurance.
After reserving for 0.55% property tax and insurance, the remaining payment supports a home priced near $266,957 with 20% down - compared with the $200,000 state median.
About taxes and housing in Louisiana
Louisiana has a graduated income tax with a low top rate and allows a deduction for federal income taxes paid.
Louisiana has low property taxes and a generous homestead exemption, but it has some of the highest auto insurance costs in the nation.
Louisiana's economy is tied to oil and gas, petrochemicals, shipping along the Mississippi River, and a major tourism sector in New Orleans.
Worked example: max price on $57,852
28% of $57,852 ÷ 12 ≈ $1,350/month. At 6.5% for 30 years with 20% down, that supports roughly $266,957 in home price before taxes and insurance reduce it further.
Quick reference
- State income tax: 1.85-4.25% across 3 brackets
- State sales tax: 4.45% (plus 5.10% avg local)
- Median home value: $200,000
- Median household income: $57,852
- Effective property tax rate: 0.55%
- Avg auto insurance: $2,864/yr
Frequently Asked Questions
How much house can I afford in Louisiana?
On the $57,852 median income, the 28% rule supports roughly $266,957 in home price at current sample rates - adjust for your real income and debts above.
What is the 28/36 rule?
Spend no more than 28% of gross income on housing and 36% on total debt. It's the standard lender affordability guideline.