What’s the average mortgage payment in Louisiana?

According to data collected from Redfin and Rocket Mortgage, the average monthly mortgage payment in Louisiana is around $1,550 before property taxes and insurance. Louisiana’s relatively affordable home prices keep mortgage payments lower than in many other states, though costs can vary significantly depending on location.

The state’s housing market reflects a mix of steady demand in metro areas like Baton Rouge and New Orleans and more affordable options across rural parishes.

Overview of the Louisiana housing market

The median sale price of a home in Louisiana is roughly $251,800, according to Redfin’s statewide housing data. The market has remained relatively balanced, with moderate price growth, stable inventory levels, and heightened competition in cities like Baton Rouge and Shreveport.

Here’s a snapshot of recent median sale prices from Redfin across several Louisiana cities:

Factors that influence mortgage payments in Louisiana

Your monthly payment includes principal, interest, taxes, and insurance (PITI). Tools like the Rocket Mortgage® mortgage calculator can help you see how different variables affect your payment.

Home price and down payment

Louisiana’s home prices are generally below the national median, which helps keep loan balances and monthly payments more manageable for buyers. For example, on a $251,800 home with a 20% down payment and a 6.5% interest rate, the estimated monthly principal and interest payment is around $1,273.

Buyers who put down less than 20% may need to pay private mortgage insurance (PMI), which can add over $120 per month depending on loan terms and credit score.

Mortgage rate

Your Louisiana mortgage rate depends on:

• Credit score and credit history
• Debt-to-income ratio (DTI)
• Loan type
• Down payment amount
• Home type and location
• Current market rates

Loan term

Loan length also influences your monthly payment. Most home buyers choose a 30-year or 15-year mortgage. A 30-year loan spreads payments out over time and keeps monthly costs lower, while a 15-year loan comes with higher payments but significantly less interest paid overall.

Property taxes and insurance

Louisiana has one of the lowest property tax rates in the U.S., averaging about 0.55%. On a median-priced home, property taxes typically add around $115 per month.

Homeowners insurance in Louisiana is among the most expensive in the country, averaging roughly $4,404 per year, or about $367 per month, due largely to hurricane and flood risk.

How do mortgage payments in Louisiana compare to others in the region?

While mortgage rates are similar nationwide, differences in home prices drive variations in monthly payments.

Here’s how Louisiana compares with nearby Southern states:

Even in a region where home prices tend to be lower, Louisiana stands out as one of the more affordable states for homeownership.

Counties with the highest mortgage payments in Louisiana

Mortgage payments are highest in parishes near major metro areas and coastal regions with stronger demand. The parishes below have the highest estimated monthly mortgage payments based on Q1 2025 median sale prices from the National Association of REALTORS®:

Counties with the lowest mortgage payments in Louisiana

More rural parishes tend to offer the lowest home prices and, in turn, the lowest mortgage payments. Here are the most affordable counties in the state:

How to calculate your mortgage payment

Lenders use a standard formula that factors in the loan term, interest rate, and the loan amount.

Home buyers can use simple online mortgage calculators to adjust these variables and see how the monthly payment changes. Additional tools allow you to explore refinancing options, PMI estimates, and more.

Louisiana-specific mortgage resources

Louisiana offers several programs designed to improve affordability and support homebuyers:

• Louisiana Housing Corporation (LHC): Provides down payment assistance and affordable loan programs for eligible buyers.
• USDA Rural Development Loans: Many rural areas in Louisiana qualify for USDA loans with 0% down payment options.

Average mortgage payment in Louisiana FAQ

Where can I find the lowest average mortgage payments in Louisiana?

Tensas Parish has the lowest average mortgage payments in the state at $500 per month.

Which county has the highest average mortgage payments in Louisiana?

Orleans Parish has the highest estimated monthly mortgage payment in Louisiana, at about $1,770.

How much do you need to make to afford a home in Louisiana?

Many lenders follow the 28/36 rule, meaning housing costs should not exceed 28% of gross monthly income. With Louisiana’s average mortgage payment of $1,550, a household may aim to earn around $5,500 per month, or roughly $66,000 per year, depending on other debts.

The bottom line: Multiple factors shape your mortgage payment in Louisiana

Louisiana’s relatively affordable home prices help keep mortgage payments lower than in many states, though insurance costs can significantly affect monthly housing expenses. Understanding local market trends, interest rates, and assistance programs can help buyers make informed decisions.

Whether you’re a first-time buyer or an experienced homeowner, get prequalified for a loan with Rocket Mortgage to understand your buying power and begin the process with confidence.

*Methodology: Average monthly mortgage payment in a region, calculated based on average home purchase price for a fixed 30-year loan and a 52-week average interest rate of 6.68% from Freddie Mac as of August 2025.

This article is for informational purposes only and is not intended to provide financial, investment, or tax advice. You should consult a qualified financial or tax professional before making decisions regarding your retirement funds or mortgage.

Rocket Mortgage is a VA-approved lender, not endorsed or sponsored by the Dept. of Veterans Affairs or any government agency.

Rocket Mortgage is not acting on behalf of FHA or HUD.

The 3% down payment option is only available on certain conventional loan products and is not available in all states. Additional terms and conditions may apply.