Louisiana Mortgage Calculator

Calculate your monthly mortgage payment in Louisiana. Pre-filled with Louisiana's average property tax rate of 0.55%. See principal, interest, PMI, property taxes, and insurance.

$70,000

Monthly Payment Breakdown

Principal & Interest
$1,770
Property Tax
$160
Homeowner's Insurance
$100
Total Monthly Payment
$2,030

Loan Summary

Home Price
$350,000
Down Payment
$70,000
Loan Amount
$280,000
Total Interest
$357,125
Total Cost(P&I + down payment)
$707,124

See how this mortgage fits your financial plan

Your estimated payment is $2,030/month. See how it fits alongside your income, savings, investments, and other expenses over time.

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Louisiana Housing Overview

Louisiana has an average property tax rate of 0.55%. Louisiana's cost of living is about 8% below the national average, with affordable housing throughout the state.

Property Tax: 0.55%Progressive rates with low top rate (4.25%)$6,000 retirement income exemptionLow cost of living

Buying a Home in Louisiana

If you're considering buying a home in Louisiana, understanding the local housing market and costs is essential. Property taxes, insurance rates, and home prices vary significantly by area within the state. This calculator pre-fills Louisiana's average property tax rate of 0.55% to give you a more accurate estimate.

Louisiana Property Taxes

Louisiana has an average effective property tax rate of 0.55%. Property taxes are a significant component of your monthly housing cost — on a $350,000 home, a 0.55% rate means approximately $1925 per year, or $160 per month in property taxes alone.

Cost of Living in Louisiana

Louisiana's cost of living is about 8% below the national average, with affordable housing throughout the state. When evaluating whether to buy a home in Louisiana, consider how your mortgage payment plus other housing costs fit within the recommended 28% of gross income guideline.

Financial Tips for Louisiana Homebuyers

  • Louisiana's top rate of 4.25% is among the lowest progressive rates
  • The low cost of living in Louisiana maximizes your purchasing power
  • Louisiana offers a $6,000 retirement income exemption
  • Oil and gas, healthcare, and shipping industries offer competitive salaries in Louisiana

Key Louisiana Features

  • Progressive rates with low top rate (4.25%)
  • $6,000 retirement income exemption
  • Low cost of living

See How Your Louisiana Mortgage Fits Your Financial Plan

This calculator shows your Louisiana mortgage payment. Trajectoryy's full simulator shows how that payment fits alongside your income, taxes, savings, investments, and more.

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Compare Louisiana Mortgage Costs with Other States

Texas1.80% property taxArkansas0.61% property taxMississippi0.65% property taxCalifornia0.71% property taxNew York1.46% property taxMassachusetts1.12% property tax

Frequently Asked Questions

What is the average property tax rate in Louisiana?
The average effective property tax rate in Louisiana is approximately 0.55%. This rate is applied to the assessed value of your property, which may differ from the market value depending on Louisiana's assessment practices. Property tax rates can also vary significantly by county and municipality within the state.
How much does a typical mortgage payment cost in Louisiana?
Your mortgage payment in Louisiana depends on the home price, your down payment, interest rate, and loan term. With Louisiana's average property tax rate of 0.55%, property taxes add a meaningful amount to your monthly payment. Use the calculator above with your specific numbers to get an accurate estimate.
Is Louisiana an affordable state to buy a home?
Louisiana's cost of living is about 8% below the national average, with affordable housing throughout the state. When evaluating affordability in Louisiana, consider not just the home price but also property taxes (0.55% average), homeowner's insurance costs, and any HOA fees common in your area.
How do Louisiana property taxes compare to other states?
Louisiana's average property tax rate of 0.55% can be compared against the national average of roughly 1.1%. States like New Jersey (2.23%) and Illinois (1.97%) have among the highest rates, while Hawaii (0.28%) and Alabama (0.40%) have among the lowest.
What first-time homebuyer programs are available in Louisiana?
Most states, including Louisiana, offer first-time homebuyer programs through their state housing finance agency. These typically include down payment assistance, below-market interest rates, and closing cost grants. Check with Louisiana's housing authority and the FHA, VA, and USDA loan programs for additional options.

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