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.

The right homeowners insurance policy protects you, your loved ones and your home.

Find the coverage you need at the most competitive rate in your area. Compare quotes from over 200 insurance companies with SmartFinancial.

Compare Now

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.

Compare current mortgage rates from top national lenders. Get the best rate for your purchase or mortgage refinance.

Compare Rates

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.

Get peace-of-mind on your home insurance

Homeowners insurance buys you peace of mind. But are you sure you’re not paying too much for home insurance?

SmartFinancial compares quotes from over 200 insurance companies to check for discounts and help you find lower rates in your area.

Use SmartFinancial right now and stop overpaying for home insurance.

What to Read Next

Disclaimer

The content provided on MoneyWise is information to help users become financially literate. It is neither tax nor legal advice, is not intended to be relied upon as a forecast, research or investment advice, and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy. Tax, investment and all other decisions should be made, as appropriate, only with guidance from a qualified professional. We make no representation or warranty of any kind, either express or implied, with respect to the data provided, the timeliness thereof, the results to be obtained by the use thereof or any other matter.