5 Most Affordable Places to Live in Louisiana in 2024
3 min read
“The Bayou State,” is full of rich history and iconic spots – from its swamps and bayous in the Atchafalaya Basin to Mardi Gras and the French Quarter. Louisiana’s unique cities, traditions, and warm climate offer many reasons to consider living in the state. So if you want to reside somewhere in Louisiana then chances are you also have a budget you’re hoping to stay under in your home or apartment search. When it comes to buying a home in Louisiana the median home sale price is $263,500.
Don’t worry if that number doesn’t fit in your budget – we’ve got options to help you find a home or apartment that does. Redfin has compiled a list of the 5 of the most affordable places to live in Louisiana, and they all have a median home sale price under the state’s average. From Shreveport to Baton Rouge, let’s jump in and see what cities are on the list.
#1: Lake Charles
Median home price: $184,000
Average sale price per square foot: $120
Average rent for a 1-bedroom apartment: $849
Median household income: $44,785
Nearest major metro: Beaumont, TX (60 miles)
Lake Charles, LA homes for sale
Lake Charles, LA apartments for rent
With a median home sale price of $184,000, Lake Charles takes the number one spot on our list of affordable places to live in Louisiana. When living in this city of 84,900 people, you can explore downtown Lake Charles, check out the lakefront parks like Bord Du Lac Park and Millennium Park, and spend time at North Beach on the shores of Lake Charles.
#2: Shreveport
Median home price: $202,500
Average sale price per square foot: $113
Average rent for a 1-bedroom apartment: $1,016
Median household income: $40,809
Nearest major metro: Dallas, TX (190 miles)
Shreveport, LA homes for sale
Shreveport, LA apartments for rent
Coming in as the second most affordable city to live in Louisiana is Shreveport. About 190 miles away from Dallas, TX, the nearest metro, Shreveport is home to roughly 187,600 people. Living in Shreveport, you can explore the riverfront area where you’ll find parks like Veterans Park, visit museums like Sci-Port Discovery Center and Spring Street Historical Museum, and spend the afternoon at Cross Lake.
#3: Baton Rouge
Median home price: $227,500
Average sale price per square foot: $133
Average rent for a 1-bedroom apartment: $1,014
Median household income: $44,177
Nearest major metro: New Orleans (85 miles)
Baton Rouge, LA homes for sale
Baton Rouge, LA apartments for rent
Next is the city of Baton Rouge, which has about 227,500 residents. The median home sale price is $227,500 which is about $35K less than the median home sale price in Louisiana. If you find yourself moving to Baton Rouge, make sure to visit the Louisiana State Capitol and Louisiana’s Old State Capitol building down the street, check out the Milford Wampold Memorial Park, and discover the exhibits at Louisiana Art & Science Museum.
#4: Lafayette
Median home price: $239,000
Average sale price per square foot: $140
Average rent for a 1-bedroom apartment: $1,296
Median household income: $44,785
Nearest major metro: Baton Rouge (55 miles)
Lafayette, LA homes for sale
Lafayette, LA apartments for rent
A little more expensive than Baton Rouge is none other than Lafayette. Home to 121,400 residents, this affordable town can be a great option to add to your list. Living in Lafayette, you can visit one of the historic sites and museums like Vermilionville Historic Village, LARC’s Acadian Village and Hilliard Art Museum, explore Acadiana Park Nature Station, and stroll through downtown Lafayette.
#5: Bossier City
Median home price: $248,500
Average sale price per square foot: $140
Average rent for a 1-bedroom apartment: $1,080
Median household income: $44,785
Nearest major metro: Shreveport (2 miles)
Bossier City, LA homes for sale
Bossier City, LA apartments for rent
The final city on our list of affordable places to live in Louisiana is Bossier City. There are several top attractions you may want to check out in Bossier City. Make sure to explore the expansive Red River National Wildlife Refuge and check out downtown Bossier City.
Methodology: All cities must have over 50,000 residents per the US Census and have a median home sale price under the average median home sale price in Louisiana. Median home sale price and median sale price per square foot from the Redfin Data Center during June 2024. Average rental data from Rent.com July 2023. Population and median household income data sourced from the United States Census Bureau.
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