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Everyone wants a home that mixes affordability with comfort and Louisiana does this very well. Families love the Pelican State's beaches, midlands, and mountains as tourists before moving here and calling it home.
But before you decide to relocate, you have to do some research into the exact cost of living around the state -- and that's how we're going to help you.
These are the places in Louisiana that cost a pretty penny -- the most expensive cities in the state.
After we saved up for months and could finally afford it, we landed on this list of the ten most expensive cities in Louisiana for 2021.
So where is the most expensive place to live in Louisiana? That would be New Orleans.
the 2015-2019 American Community Survey for the 60 places in Louisiana with more than 5,000 people.
What's the most expensive place to live in Louisiana? Well, HomeSnacks crunched the numbers and discovered that New Orleans is the most expensive place to live in Louisiana.
So hopefully Oakdale (the cheapest place to live in Louisiana) can show these guys how to live on a budget in the coming years. Read on for how these places had costs rise faster than inflation.
And if you already knew these places were expensive, check out some more reading about Louisiana and the most expensive cities in the country:
The 10 Most Expensive Places To Live In Louisiana For 2021
The median income in New Orleans comes in at $41,604 and the median home value is $231,500 for 2021.
The median income in Natchitoches comes in at $21,715 and the median home value is $164,700 for 2021.
The median income in Ruston comes in at $29,128 and the median home value is $169,600 for 2021.
The median income in Thibodaux comes in at $38,269 and the median home value is $166,800 for 2021.
The median income in Grambling comes in at $22,398 and the median home value is $114,800 for 2021.
The median income in Baton Rouge comes in at $44,470 and the median home value is $174,000 for 2021.
The median income in Hammond comes in at $36,921 and the median home value is $159,300 for 2021.
The median income in Carencro comes in at $39,162 and the median home value is $167,300 for 2021.
The median income in Monroe comes in at $30,438 and the median home value is $139,600 for 2021.
The median income in Westwego comes in at $30,126 and the median home value is $123,600 for 2021.
How We Determined The Most Expensive Places To Live In The Pelican State For 2021
The two most important things to think about when it comes to being able to afford if you can live comes down to:
- How much do money do I make?
- How much do I have spend to live there?
You need to understand your costs in the context of how much money you make.
For example, if the median household earns $100,000 and spends $40,000 on housing it's actually cheaper to live there than a place with a median income of $50,000 and housing costs of $21,000. You might spend more on housing, but you have more money overall to play with.
With that example in mind, we derived several statistics from the latest Census American Community Survey 2015-2019 around incomes and costs. They are:
- Median Home Price / Median Income (lower is better)
- Median Income / Median Rent (Higher is better)
- Median Home Price
We added simply median home price because high home prices generally correlate with higher expenses for all costs related to homes (heating, electricity, etc).
You can then compare these metrics in each of the places in Louisiana to figure out which is the most expensive.
What you are left with is a "Cost of Living Index" by taking the average rank of each of these metrics for each city.
So we used that cost of living index in order to rank all of the 60 places in Louisiana that have more than 5,000 people.
The place with the highest cost of living in Louisiana according to the data is New Orleans. You can download the data here.
Taking A Chunk Out Of Your Paycheck In Louisiana For 2021
Well there you have it, the places in Louisiana that have the highest cost of living, with New Orleans ranking as the most expensive city in the Pelican State.
Here's a look at the most affordable cities in Louisiana according to the data:
For more Louisiana reading, check out:
- Best Places To Live In Louisiana
- Cheapest Places To Live In Louisiana
- Most Dangerous Places In Louisiana
- Best Places To Raise A Family In Louisiana
- Safest Places In Louisiana
- Worst Places To Live In Louisiana
Detailed List Of The Most Expensive Cities In Louisiana