Current home values in Louisiana

Home values have been rising throughout Louisiana and are up 15.9% from a year ago.

Statewide, the median value for a single-family home — meaning half are worth more, half are worth less — is currently $304,795, Realtor says.

Real estate agents say would-be homebuyers in some parts of the country are starting to overcome the obstacles caused by COVID-19 and are going virtual house hunting to take advantage of today's bargain mortgage rates and the low monthly house payments they provide.

Here's how that works in Louisiana: Let's say you want to buy a mid-priced home using a 30-year fixed-rate mortgage at the current average interest, which is a low 3.33%, according to mortgage company Freddie Mac.

A 30-year mortgage for a $304,795 home at 3.33% would give a typical Louisiana homebuyer a monthly payment of $1,072, assuming a 20% down payment.

How the Louisiana housing market stacks up

Person sitting outside their home
ashtonsaywahh / Twenty20
People can enjoy a quiet life in Louisiana or a more active life in a nearby city

The state's median home value is higher than the U.S. median of $248,948, which is up 5.1% from a year ago.

While the coronavirus is expected to continue hanging over the U.S. economy like a dark cloud, Zillow forecasts that U.S. home values will rise 5.1% over the next year, while in Louisiana, they're predicted to rise 3.7%.

Homes right now are going on the market in Louisiana at a median price of $119 per square foot, versus $134 per square foot nationwide.

Are you looking to buy? Take a look at today's best mortgage rates where you live.

Louisiana home prices over the last 10 years

Year Avg. Price
2020* $169,910
2019 $146,650
2018 $145,292
2017 $140,342
2016 $133,692
2015 $127,175
2014 $123,450
2013 $120,600
2012 $118,458
2011 $120,742
2010 $124,800
2009 $125,375

*2020 price average through March 31, 2020.

How much for an average-sized home?

Here's what a 2,500-square-foot home in Louisiana is worth now, and how that's changed over the last decade, based on the Zillow Home Value Index.

Year Avg. Price
2020* $298,012
2019 $232,500
2018 $232,500
2017 $225,000
2016 $217,500
2015 $207,500
2014 $205,000
2013 $200,000
2012 $200,000
2011 $202,500
2010 $210,000
2009 $207,500

*2020 price average through March 31, 2020.

About the Author

Doug Whiteman

Doug Whiteman

Former Editor-in-Chief

Doug Whiteman was formerly the editor-in-chief of MoneyWise. He has been quoted by The Wall Street Journal, USA Today and and has been interviewed on Fox Business, CBS Radio and the syndicated TV show "First Business."

What to Read Next

Looking For Passive Income? There's One Option Right Below Your Feet

One company’s innovative approach makes farmland investing easier and more accessible.

What is a mortgage?

Yes, a mortgage is a big deal, but it's probably not as complicated as you think.

Want to earn big returns without the shaky stock market? Try art

Art investment is no longer reserved for the wealthy

How to Get a Mortgage: Follow These 9 Steps

It's a lengthy, complicated process, so just keep your eyes on the prize: your new home.