Department of Numbers

Louisiana Residential Rent and Rental Statistics

The median monthly gross residential rent in Louisiana was $800 in 2015 according to the Census ACS survey.1 Average gross rent was $754 in 2015. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2016 Louisiana median and average rent data will be released in September of 2017.

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.

Show dollars as: Nominal Real

Real Gross Rent in Louisiana (2015 dollars)2

2015 1 Year Change 3 Year Change
US Median Gross Rent $959 +3.12% +8.24%
Louisiana Median Gross Rent $800 +0.38% +6.81%

Louisiana Real Gross Rent Trends

At $800, real median gross rent in Louisiana was at its highest level in 2015 since the series began in 2005. At $754, real average gross rent in Louisiana was at its highest level in 2015 since the series began in 2005.

Real Gross Rent in Louisiana: Median, Average, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Louisiana

Date US Median Louisiana Median Louisiana Average
2015 $959 $800 $754
2014 $930 $797 $742
2013 $898 $757 $732
2012 $886 $749 $711
2011 $887 $761 $723
2010 $901 $775 $742
2009 $905 $768 $730
2008 $920 $779 $726
2007 $874 $721 $666
2006 $883 $715 $660
2005 $858 $671 $622

Louisiana Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2015 the rental vacancy rate for Louisiana was 8.30% according to Census ACS data.

Rental Vacancy Rate in Louisiana

2015 1 Year Change 3 Year Change
US 5.85% -0.47% -0.92%
Louisiana 8.30% -0.06% -0.25%

Trends in Louisiana Rental Vacancy Rate

The rental vacancy rate in Louisiana peaked in 2010 at 8.98%. Since then it has fallen by 0.68% to 8.30%. Data records for this series originated in 2005.

Rental Vacancy Rate: Louisiana, US

Rental vacancy rate in Louisiana

Historical Rental Vacancy Rate data for Louisiana

Date US Louisiana
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%
2008 7.86% 8.20%
2007 7.87% 7.18%
2006 7.70% 6.36%
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 20.99% in 2015 according to the ACS.

Louisiana Median Annual Rent as a Fraction of Median Household Income

2015 1 Year Change 3 Year Change
US 20.63% -0.26% -0.02%
Louisiana 20.99% -0.58% +0.12%

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 2014 (relative to the 2005 series origin) at 21.57%. Since then it has fallen by 0.58% to 20.99%.

Fraction of Income towards Rent: Louisiana, US

Percent of median household income going towards median monthly gross rent in Louisiana

Historical Data for Annual Rent as a Fraction of Income in Louisiana

Date US Louisiana
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%
2008 19.00% 19.15%
2007 18.66% 19.09%
2006 18.90% 18.85%
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 2015 35.42% of households were renters according to Census ACS data.

Louisiana Fraction of Renters by Household Units

2015 1 Year Change 3 Year Change
US 36.97% +0.07% +0.88%
Louisiana 35.42% -0.16% +1.15%

Trends in the Louisiana Renter Fraction

The Louisiana household renter fraction peaked in in 2014 at 35.58% and is now 0.16% below that level. The origin year for the series is 2005.

Fraction of Renting Households: Louisiana, US

Fraction of renters in Louisiana

History of Louisiana Renter Fraction

Date US Louisiana
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%
2008 33.36% 31.46%
2007 32.80% 32.06%
2006 32.73% 31.52%
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.