Louisiana Residential Rent and Rental Statistics
The median monthly gross residential rent in Louisiana was $866 in 2019 according to the Census ACS survey.1 Average gross rent was $801 in 2019. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2020 Louisiana median and average rent data will be released in September of 2021.
Data is also available below for Louisiana rental vacancy rates, Louisiana rent as a percent of median income and the fraction of renters in Louisiana.
Real Gross Rent in Louisiana (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| Louisiana Median Gross Rent | $866 | -0.35% | +2.36% |
Louisiana Real Gross Rent Trends
Median gross rent for Louisiana peaked in real terms in 2018 at $869 and is now $3 (0.35%) lower. Average gross rent for Louisiana peaked in real terms in 2018 at $821 and is now $20 (2.44%) lower.
Real Gross Rent in Louisiana: Median, Average, US Median
Real Gross Rent History for Louisiana
| Date | US Median | Louisiana Median | Louisiana Average |
|---|---|---|---|
| 2019 | $1,097 | $866 | $801 |
| 2018 | $1,077 | $869 | $821 |
| 2017 | $1,043 | $862 | $801 |
| 2016 | $1,027 | $846 | $809 |
| 2015 | $1,017 | $849 | $800 |
| 2014 | $986 | $846 | $788 |
| 2013 | $953 | $803 | $776 |
| 2012 | $940 | $795 | $754 |
| 2011 | $941 | $807 | $767 |
| 2010 | $955 | $822 | $787 |
| 2009 | $960 | $815 | $774 |
| 2007 | $927 | $765 | $706 |
| 2005 | $910 | $711 | $660 |
Louisiana Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2019 the rental vacancy rate for Louisiana was 8.34% according to Census ACS data.
Rental Vacancy Rate in Louisiana
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Louisiana | 8.34% | -0.37% | -0.10% |
Trends in Louisiana Rental Vacancy Rate
The rental vacancy rate in Louisiana peaked in 2010 at 8.98%. Since then it has fallen by 0.64% to 8.34%. Data records for this series originated in 2005.
Rental Vacancy Rate: Louisiana, US
Historical Rental Vacancy Rate data for Louisiana
| Date | US | Louisiana |
|---|---|---|
| 2019 | 5.97% | 8.34% |
| 2018 | 6.15% | 8.71% |
| 2017 | 6.18% | 8.74% |
| 2016 | 5.89% | 8.44% |
| 2015 | 5.85% | 8.30% |
| 2014 | 6.32% | 8.36% |
| 2013 | 6.49% | 7.64% |
| 2012 | 6.77% | 8.55% |
| 2011 | 7.40% | 8.15% |
| 2010 | 8.17% | 8.98% |
| 2009 | 8.43% | 8.19% |
| 2007 | 7.87% | 7.18% |
| 2005 | 7.74% | 7.89% |
Louisiana Rent as a Fraction of Income
Using median household income data for Louisiana, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Louisiana, median monthly gross rent as a fraction of median household income was 20.35% in 2019 according to the ACS.
Louisiana Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| Louisiana | 20.35% | -1.04% | -1.13% |
Trends in Louisiana Rent as a Fraction of Income
The fraction of median Louisiana household income required to pay median monthly gross rent peaked in 2017 (relative to the 2005 series origin) at 21.74%. Since then it has fallen by 1.39% to 20.35%.
Fraction of Income towards Rent: Louisiana, US
Historical Data for Annual Rent as a Fraction of Income in Louisiana
| Date | US | Louisiana |
|---|---|---|
| 2019 | 20.03% | 20.35% |
| 2018 | 20.50% | 21.39% |
| 2017 | 20.13% | 21.74% |
| 2016 | 20.43% | 21.48% |
| 2015 | 20.63% | 20.99% |
| 2014 | 20.89% | 21.57% |
| 2013 | 20.78% | 20.73% |
| 2012 | 20.65% | 20.87% |
| 2011 | 20.70% | 21.48% |
| 2010 | 20.50% | 20.78% |
| 2009 | 20.12% | 20.19% |
| 2007 | 18.66% | 19.09% |
| 2005 | 18.89% | 18.59% |
Renter Fraction in Louisiana
You can calculate the renter fraction in Louisiana in at least two ways: by housing units or by population. I've gone with the housing units measure here. This measure looks at the number of renting households in Louisiana as a fraction of total Louisiana households. In 2019 33.51% of households were renters according to Census ACS data.
Louisiana Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| Louisiana | 33.51% | -1.01% | -2.23% |
Trends in the Louisiana Renter Fraction
The Louisiana household renter fraction peaked in in 2016 at 35.74% and is now 2.23% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Louisiana, US
History of Louisiana Renter Fraction
| Date | US | Louisiana |
|---|---|---|
| 2019 | 35.89% | 33.51% |
| 2018 | 36.05% | 34.52% |
| 2017 | 36.13% | 34.82% |
| 2016 | 36.88% | 35.74% |
| 2015 | 36.97% | 35.42% |
| 2014 | 36.90% | 35.58% |
| 2013 | 36.50% | 34.03% |
| 2012 | 36.09% | 34.27% |
| 2011 | 35.42% | 33.57% |
| 2010 | 34.65% | 32.45% |
| 2009 | 34.13% | 32.08% |
| 2007 | 32.80% | 32.06% |
| 2005 | 33.10% | 32.19% |
1. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities (electricity, gas, water, and sewer) and fuel (oil, coal, kerosene, wood, etc.). Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability. ↩
2. Real dollars are calculated using the CPI-U less shelter series. ↩
3. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied. ↩
