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Louisiana mortgage calculator

The median home in Louisiana runs about $220,000. With 20% down that's a loan near $176,000 — the calculator is pre-filled with that figure. Louisiana has a low property tax rate and a generous homestead exemption, but hurricane and flood exposure has made homeowners insurance among the most expensive and hardest to obtain in the country.

$1,142.70 / month

Total interest
$235,375
Total paid
$411,375
Payoff
30.0 years
Balance over YearBalance ends near $0 at 30.$0$44k$88k$132k$176k0612182430Year

How it works

A full Louisiana payment is more than principal and interest. At the state's 0.56% effective property tax rate, a $220,000 home owes about $1,232 a year in tax, and homeowners insurance averages roughly $4,300 a year here. Together those add about $461 to the monthly payment before any HOA dues or PMI.

Louisiana's median household income is about $60,000, or $5,000 a month. Lenders generally want the full housing payment under about 28% of that — roughly $1,400 — which is why a median-priced home is comfortable in some metros and a stretch in others. Homes in Louisiana sell in about 60 days on average.

Frequently asked questions

What is a typical mortgage payment in Louisiana?
On the state's roughly $220,000 median home with 20% down, the loan is about $176,000. Principal and interest depend on your rate; on top of that, Louisiana's 0.56% effective property tax rate and about $4,300 a year in homeowners insurance add roughly $461 per month to the payment.
How much are property taxes on a home in Louisiana?
Louisiana's effective property tax rate averages about 0.56% of market value — roughly $1,232 a year on the $220,000 median home. Your county sets the actual rate and may assess below market value.
Is homeowners insurance expensive in Louisiana?
The average Louisiana homeowners policy runs about $4,300 a year. Louisiana has a low property tax rate and a generous homestead exemption, but hurricane and flood exposure has made homeowners insurance among the most expensive and hardest to obtain in the country.
Can I afford a home in Louisiana on the median income?
Louisiana's median household income is about $60,000 a year, or $5,000 a month. Lenders generally want the full housing payment under about 28% of that — roughly $1,400 — so a median-priced home is a stretch in the pricier metros.
How fast do homes sell in Louisiana?
A for-sale home in Louisiana spends about 60 days on the market on average, though this varies widely by metro and season.

Learn more: Understanding your mortgage payment

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