Department of Numbers

Houma Louisiana Residential Rent and Rental Statistics

The median monthly gross residential rent in Houma, LA (the Houma-Bayou Cane-Thibodaux metro area) was $724 in 2015 according to the Census ACS survey.1 Average gross rent in Houma was $682 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 Houma median and average rent data will be released in September of 2017.

Data is also available below for Houma rental vacancy rates, Houma rent as a percent of median income and the fraction of renters in Houma.

Show dollars as: Nominal Real

Real Gross Rent in Houma 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%
Houma, LA Median Gross Rent $724 -13.29% -7.06%

Houma, LA Real Gross Rent Trends

Median gross rent for Houma peaked in real terms in 2014 at $835 and is now $111 (13.29%) lower. Average gross rent for Houma peaked in real terms in 2014 at $745 and is now $63 (8.46%) lower.

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

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Houma

Date US
Median
Louisiana
Median
Houma, LA
Median
Houma, LA
Average
2015 $959 $800 $724 $682
2014 $930 $797 $835 $745
2013 $898 $757 $762 $684
2012 $886 $749 $779 $675
2011 $887 $761 $738 $640
2010 $901 $775 $722 $665
2009 $905 $768 $693 $564
2008 $920 $779 $758 $617
2007 $874 $721 $682 $625
2006 $883 $715 $623 $524
2005 $858 $671 $646 $564

Houma 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 Houma Louisiana was 5.75% according to Census ACS data.

Rental Vacancy Rate in Houma Louisiana

2015 1 Year Change 3 Year Change
US 5.85% -0.47% -0.92%
Louisiana 8.30% -0.06% -0.25%
Houma, LA 5.75% -0.65% -2.97%

Trends in Houma, LA Rental Vacancy Rate

The rental vacancy rate in Houma peaked in 2012 at 8.72%. Since then it has fallen by 2.97% to 5.75%. Data records for this series originated in 2005.

Rental Vacancy Rate: Houma LA, Louisiana, US

Rental vacancy rate in Louisiana

Historical Rental Vacancy Rate data for Houma

Date US Louisiana Houma, LA
2015 5.85% 8.30% 5.75%
2014 6.32% 8.36% 6.40%
2013 6.49% 7.64% 5.08%
2012 6.77% 8.55% 8.72%
2011 7.40% 8.15% 2.39%
2010 8.17% 8.98% 4.16%
2009 8.43% 8.19% 4.77%
2008 7.86% 8.20% 4.33%
2007 7.87% 7.18% 2.92%
2006 7.70% 6.36% 2.87%
2005 7.74% 7.89% 6.97%

Rent as a Fraction of Income

Using median household income data for Houma, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Houma, median monthly gross rent as a fraction of median household income was 18.06% in 2015 according to the ACS.

Houma 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%
Houma, LA 18.06% -4.27% -1.03%

Trends in Houma, LA Rent as a Fraction of Income

The fraction of median Houma household income required to pay median monthly gross rent peaked in 2014 (relative to the 2005 series origin) at 22.32%. Since then it has fallen by 4.27% to 18.06%.

Fraction of Income towards Rent: Houma LA, Louisiana, US

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

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

Date US Louisiana Houma, LA
2015 20.63% 20.99% 18.06%
2014 20.89% 21.57% 22.32%
2013 20.78% 20.73% 17.04%
2012 20.65% 20.87% 19.08%
2011 20.70% 21.48% 19.34%
2010 20.50% 20.78% 17.06%
2009 20.12% 20.19% 16.21%
2008 19.00% 19.15% 15.94%
2007 18.66% 19.09% 17.61%
2006 18.90% 18.85% 15.07%
2005 18.89% 18.59% 17.29%

Renter Fraction in Houma Louisiana

You can calculate the renter fraction in Houma 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 Houma as a fraction of total Houma households. In 2015 27.63% of households were renters according to Census ACS data.

Houma 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%
Houma, LA 27.63% -3.06% +4.00%

Trends in the Houma, LA Renter Fraction

The Houma household renter fraction peaked in in 2014 at 30.69% and is now 3.06% below that level. The origin year for the series is 2005.

Fraction of Renting Households: Houma LA, Louisiana, US

Fraction of renters in Houma

History of Houma Renter Fraction

Date US Louisiana Houma, LA
2015 36.97% 35.42% 27.63%
2014 36.90% 35.58% 30.69%
2013 36.50% 34.03% 22.48%
2012 36.09% 34.27% 23.63%
2011 35.42% 33.57% 28.32%
2010 34.65% 32.45% 24.13%
2009 34.13% 32.08% 22.54%
2008 33.36% 31.46% 23.81%
2007 32.80% 32.06% 25.85%
2006 32.73% 31.52% 26.65%
2005 33.10% 32.19% 25.03%

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.