Mortgage for Louisiana (2026)
Louisiana (LA) Key Facts
Median Home Price
$215,000
Average Property Tax Rate
0.55%
Average Home Insurance Rate
1.4%
Estimated Monthly Payment
$1,604
First Time Buyer Programs
2
How This Calculator Works in Louisiana
This mortgage calculator lets you estimate your monthly payment on a Louisiana home by factoring in the purchase price, down payment, interest rate, property taxes, and insurance. It is pre-loaded with Louisiana's average property tax rate and insurance costs so you can get a realistic estimate quickly. Adjust the inputs to match your specific situation and see how different scenarios affect your monthly budget.
Louisiana Overview
Louisiana has a median home price of approximately $210K, with an average property tax rate of 0.55% and homeowners insurance averaging 1.4% annually. Community property state. LHC Mortgage Revenue Bond program and other state programs can help first-time buyers with down payment assistance and competitive mortgage rates.
How Louisiana Compares
Compared to neighboring states, Louisiana's median home price of $215,000 is below the national median of about $420,000. Nearby Texas has a median price of $300,000 with a 1.8% property tax rate. Property tax rates vary significantly among neighboring states, which can substantially impact long-term homeownership costs.
| State | Top Rate | Notes |
|---|---|---|
| Texas | $300,000 | Median home price is $300,000 with a 1.8% property tax rate. Estimated monthly mortgage payment is about $2,501. |
| Mississippi | $180,000 | Median home price is $180,000 with a 0.81% property tax rate. Estimated monthly mortgage payment is about $1,322. |
| Arkansas | $210,000 | Median home price is $210,000 with a 0.62% property tax rate. Estimated monthly mortgage payment is about $1,492. |
The median home price in Louisiana is $215,000, compared to the national median of approximately $420,000. With a 0.55% average property tax rate and 1.4% insurance rate, Louisiana homeowners can expect an estimated monthly payment of about $1,604 on a median-priced home with 10% down at 6.75% interest.
Tips for Louisiana Residents
- 1Louisiana has a median home price around $210K. Community property state. Research local market conditions as prices vary significantly by city and neighborhood.
- 2Property taxes in Louisiana average 0.55%. As a community property state, both spouses are equally responsible for mortgage debt. Always verify your specific county's tax rate, as it directly impacts your monthly payment.
- 3Explore LHC Mortgage Revenue Bond program for potential down payment assistance and favorable rates. Louisiana also offers LHC Mortgage Revenue Bond Program. Check income limits and eligibility early in your home search.
- 4Community property state; flood insurance often required; unique legal system for property. Budget 2-5% of the purchase price for closing costs including lender fees, title insurance, and prepaid expenses.
- 5Unique Napoleonic Code influences real estate law. A 0.25% rate difference on a $215K home can save thousands over the life of your loan, so shop at least 3-4 lenders before committing.
Frequently Asked Questions
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