Living in Louisiana: Income, Housing, Taxes & Cost of Living (2026)
By Wealthvieu
·
Updated
Table of Contents
Louisiana at a Glance
| Metric |
Value |
National Rank |
| Population (2024) |
4.6 million |
25th |
| Median household income |
$57,852 |
47th |
| Median home price |
$225,000 |
Below average |
| Cost of living index |
89 |
11th lowest |
| State income tax |
1.85-4.25% |
Below average |
| Sales tax (state + local avg) |
9.56% |
Highest in US |
| Property tax (effective rate) |
0.55% |
6th lowest |
Income and Housing
| City/Metro |
Median Income |
Median Home Price |
Median Rent (2BR) |
| New Orleans |
$48,200 |
$265,000 |
$1,350 |
| Baton Rouge |
$56,400 |
$235,000 |
$1,050 |
| Shreveport |
$42,800 |
$165,000 |
$850 |
| Lafayette |
$55,200 |
$215,000 |
$950 |
| Lake Charles |
$52,400 |
$195,000 |
$900 |
| Monroe |
$40,200 |
$155,000 |
$750 |
Hidden Cost: Insurance
| Insurance Type |
Louisiana Average |
National Average |
| Homeowner’s insurance |
$3,600/year |
$1,900/year |
| Auto insurance |
$3,400/year |
$1,800/year |
| Flood insurance |
$1,000-$4,000/year |
Not always required |
Louisiana Pros and Cons
| Financial Pros |
Financial Cons |
| Low cost of living (89 index) |
Highest sales tax in US (9.56%) |
| Very low property taxes (0.55%) |
47th in median household income |
| Below-average income tax |
Very high insurance costs (hurricane risk) |
| Affordable housing ($225K median) |
Highest auto insurance rates |
| Oil/gas industry jobs |
Environmental/flooding risk |
| Homestead exemption ($75K) |
Below-average education and healthcare |
Related: Cost of Living by State | State Income Tax Rates | Property Tax by State
