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The median home value in Louisiana is $195,000. New Orleans and Baton Rouge have seen moderate growth. Hurricane risk and insurance costs are significant factors in the Louisiana housing market.
The conforming loan limit is $726,200. All Louisiana counties are at the standard conforming limit. Loans up to this amount qualify for standard Fannie Mae/Freddie Mac rates. Above this is jumbo territory with stricter requirements.
At the median home value of $195,000 with a 20% down payment ($39,000), you'd borrow $156,000. At 7% for 30 years, principal and interest runs approximately $1,038/month. Add property taxes (~$89/mo) and insurance (~$150/mo) for a total PITI estimate.
Budget for Louisiana's effective property tax rate of 0.55% (avg. bill: $983/year). Lenders include taxes in your PITI calculation and collect them monthly in escrow.
First-time buyers in Louisiana should budget for closing costs of approximately $3,200. Louisiana uses a unique civil law system with closing costs that include notary fees (replacing attorney fees in most states). Transfer taxes are low, but notary and recording costs add up.
Data: Tax Foundation (2024), US Census Bureau ACS 2023, Zillow, ATTOM Data Solutions. Updated 2024–2025. Figures reflect state averages — consult a licensed professional for personalized advice.
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