Total monthly cost of ownership
Cost to Own a Home in Ferriday, Louisiana
A $87,000 home here costs
$865per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $37,000 a year.
A standard mortgage calculator would have told you $474. The real number is $390 higher every month, 82% more than the payment most buyers budget for.
Compare Concordia Parish with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Ferriday from a five-year rolling sample, and with about 3,126 residents that sample is small. The median home value here carries a much wider margin of error than a big-city figure does, so treat it as indicative rather than exact. The Concordia Parish figures are drawn from a far larger sample if you want a steadier number.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Ferriday against Concordia Parish and Louisiana
| Measure | Ferriday | Concordia Parish |
|---|---|---|
| Median home value | $86,600 | $102,400 |
| Median property tax | $199 | $393 |
| Effective tax rate | 0.230% | 0.384% |
| Median gross rent | $786 | $774 |
| Population | 3,126 | 18,325 |
The weather behind that power bill
Ferriday sits in Concordia Parish, which averages a high of 90.7°F in its hottest month and a low of 37.3°F in its coldest, with 59.55" of precipitation a year and 30% of it in a single three-month stretch. That climate drives 2,289 cooling and 2,185 heating degree days, which is what sets the $155 electricity line above.
See the full climate breakdown for Concordia Parish , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Concordia Parish
Full Concordia Parish cost breakdown · Every county in Louisiana
Talk to someone who works this market
These are Ferriday averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Ferriday every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Ferriday I already own here and may sell
Common questions
How much does it cost to own a home in Ferriday?
A $87,000 home in Ferriday, Louisiana costs approximately $865 per month with 20% down at 7.24%. That is $474 principal and interest, $17 property tax, $79 homeowners insurance, $223 utilities and $73 set aside for maintenance.
What is the property tax rate in Ferriday?
Ferriday has an effective property tax rate of 0.230%, based on a median home value of $86,600 and median real estate taxes of $199. That is lower than the Concordia Parish average of 0.384%.
What is the average home price in Ferriday?
The median owner-occupied home value in Ferriday, Louisiana is $86,600, against $102,400 across Concordia Parish.
Is it cheaper to rent or buy in Ferriday?
Median gross rent in Ferriday is $786 a month, against $865 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Ferriday?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Ferriday, Louisiana at today's rate takes a household income of roughly $37,000 a year. That covers the full $865 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Ferriday, US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance, NAIC average premium for Louisiana.
- Electricity price, EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate, Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.